Multiple Launch Rocket Systems (MLRS) Market

Global Multiple Launch Rocket Systems (MLRS) Market:

The global multiple launch rocket systems (MLRS) market size reached USD 774.8 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,261.7 Million by 2033, exhibiting a growth rate (CAGR) of 5.57% during 2025-2033. The rising geopolitical tensions, modernization of armed forces, increased defense budgets, and ongoing technological advancements are primarily driving the market's growth.

Multiple Launch Rocket Systems (MLRS) Market Analysis:

• Major Market Drivers: The rising cross-border tensions between various countries, in confluence with the increasing funding for advanced weapons by several governing agencies, represents one of the key factors bolstering the multiple launch rocket systems market growth. Apart from this, the growing popularity of guided ammunition over unguided rocket artillery is positively influencing the sales of MLRS.
• Key Market Trends: The introduction of guided MLRS that relies on the global positioning system (GPS) and inertial guidance package to enhance positioning accuracy and fire from dispersed positions at a single target is strengthening the multiple launch rocket systems market demand. Moreover, the development of a more sophisticated MLRS that uses radar data and a one-way radio datalink to initiate a two-dimensional correction of the rocket flight path is anticipated to drive the market in the coming years.
• Competitive Landscape: Some of the prominent multiple launch rocket systems companies include Avibrás Indústria Aeroespacial, BAE Systems Plc, Denel Land Systems (Denel SOC Ltd.), Diehl Defence GmbH & Co. KG (Diehl Stiftung & Co. KG), Hanwha Corporation, IMI Systems Ltd. (Elbit Systems Ltd.), Larsen & Toubro Limited, Lockheed Martin Corporation, Roketsan Roket Sanayii ve Ticaret A.S., and Tata Advanced Systems Limited (Tata Sons Private Limited), among many others.
• Geographical Trends: According to the multiple launch rocket systems (MLRS) market dynamics, North America currently dominates the global market. The United States and Canada have consistently high defense budgets, with the U.S. having one of the largest military budgets in the world. This ongoing investment in defense drives demand for advanced military technologies, including MLRS.
• Challenges and Opportunities: The high maintenance cost of advanced MLRS systems is hampering the market's growth. However, the ongoing development of more advanced MLRS systems presents significant opportunities.

Multiple Launch Rocket Systems (MLRS) Market Trends:

Rising Military Expenditure

The increasing military expenditure is driving the multiple launch rocket systems (MLRS) Market. For instance, according to an article published by the Stockholm International Peace Research Institute, total global military expenditure reached US$ 2,443 billion in 2023, up 6.8% in real terms from 2022. Governments are funding the development of next-generation MLRS platforms that incorporate new technologies such as precision-guided munitions, extended-range rockets, and networked battlefield systems. These factors are expected to propel the multiple launch rocket systems market share in the coming years.

Modernization of Military Forces

Many countries are pursuing the modernization of their armed forces, replacing aging equipment with more sophisticated and effective systems. This includes upgrading older MLRS platforms with newer technology, as well as acquiring entirely new systems with enhanced capabilities, such as precision-guided munitions and extended range. For instance, in May 2024, the United States Army granted Lockheed Martin a US$ 451 million contract to recapitalize additional M270 Multiple Launch Rocket Systems (MLRS), expanding its domestic fleet of launchers and providing improvements for global partners. These factors further positively influence the multiple launch rocket systems market forecast.

Technological Innovations

Innovations in MLRS technology are driving the market growth. These advancements include improved targeting accuracy, longer ranges, enhanced mobility, and integration with modern digital warfare systems. The development of precision-guided munitions (PGMs) and smart rockets enhances the effectiveness of MLRS systems, making them more attractive to military buyers. For instance, in September 2024, Australia planned to increase its domestic production capability of precision guided munitions (PGM) by inserting locally produced rocket motors and warheads into US guided multiple launch rocket system (GMLRS) missiles, thereby boosting the multiple launch rocket systems market revenue.

Global Multiple Launch Rocket Systems (MLRS) Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global multiple launch rocket systems (MLRS) market report, along with forecasts at the global, regional, and country levels from 2025-2033. Our report has categorized the market based on launch vehicle, caliber type, range and pod capacity.

Breakup by Launch Vehicle:

• Tracked
• Wheeled
   

Wheeled exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the multiple launch rocket systems (MLRS) market based on the launch vehicle. This includes tracked and wheeled. According to the report, wheeled exhibits a clear dominance in the market.

According to the multiple launch rocket systems market outlook, wheeled MLRS platforms offer greater mobility compared to their tracked counterparts, allowing for faster deployment and repositioning. This makes them ideal for rapid-response operations and for covering large areas of terrain in dynamic combat environments. Moreover, wheeled systems generally have lower maintenance costs than tracked systems. They experience less wear and tear on components and tend to be easier and cheaper to maintain and repair. This is attractive for militaries looking to reduce the overall lifecycle costs of their artillery systems.

Breakup by Caliber Type:

• 70-180 mm
• 180-300 mm
   

Currently, 70-180 mm accounts for the majority of the total market share

The report has provided a detailed breakup and analysis of the multiple launch rocket systems (MLRS) market based on the caliber type. This includes 70-180 mm and 180-300 mm. According to the report, 70-180 mm accounts for the majority of the total market share.

According to the multiple launch rocket systems market overview, the caliber range of 70-180 mm is versatile, offering a balance between range, payload capacity, and mobility. These systems are suitable for a variety of missions, from close support operations to longer-range bombardment, making them attractive to many military forces. Moreover, the growing emphasis on asymmetric and irregular warfare, including counter-insurgency operations, is driving the demand for MLRS in this caliber range.

Breakup by Range:

• 10-100 km
• 100-300 km
   

100-300 km holds the largest market share

The report has provided a detailed breakup and analysis of the multiple launch rocket systems (MLRS) market based on the range. This includes 10-100 km and 100-300 km. According to the multiple launch rocket systems market report, 100-300 km holds the largest market share.

These systems provide the ability to strike deeper into enemy territory, targeting critical infrastructure, command centers, and supply lines. This range capability is essential for modern military strategies focused on precision strikes and disrupting enemy operations from a safe distance. Moreover, countries seek to enhance their strategic deterrence by acquiring MLRS systems with a 100-300 km range. These systems act as a deterrent against adversaries, giving militaries the ability to respond quickly and effectively to threats without needing to move forces into vulnerable positions.

Breakup by Pod Capacity:

• Upto 16
• More Than 16
   

Upto 16 exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the multiple launch rocket systems (MLRS) market based on the pod capacity. This includes upto 16 and more than 16. According to the report, upto 16 exhibits a clear dominance in the market.

Systems with up to 16 pod capacity provide a balance between firepower and mobility. These systems can be deployed in a wide variety of combat scenarios, from smaller-scale engagements to medium-intensity conflicts, offering versatility to military forces that need flexibility. Moreover, this capacity enables effective fire support in tactical operations, allowing for substantial barrages without overwhelming logistical requirements. It's particularly useful for supporting infantry and armored units in mid-scale battlefield environments.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America currently dominates the global market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America currently dominates the global market.

According to the multiple launch rocket systems market statistics, the U.S. and Canada continue to allocate substantial resources to defense, with a focus on modernizing their military capabilities. The U.S. has one of the largest defense budgets globally, and a significant portion is directed towards artillery systems like MLRS as part of long-term modernization strategies, which is further driving the market’s growth. For instance, in May 2024, Lockheed Martin received a contract to supply additional High Mobility Artillery Rocket Systems (HIMARS) to the US Army. The HIMARS can fire the full MLRS family of weapons, including the extended-range variant.

Competitive Landscape:

The multiple launch rocket systems market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: 

• Avibrás Indústria Aeroespacial
• BAE Systems Plc
• Denel Land Systems (Denel SOC Ltd.)
• Diehl Defence GmbH & Co. KG (Diehl Stiftung & Co. KG)
• Hanwha Corporation
• IMI Systems Ltd. (Elbit Systems Ltd.)
• Larsen & Toubro Limited
• Lockheed Martin Corporation
• Roketsan Roket Sanayii ve Ticaret A.S.
• Tata Advanced Systems Limited (Tata Sons Private Limited)
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Multiple Launch Rocket Systems (MLRS) Market Recent Developments:

• October 2024: WB Electronics of Poland and Hanwha Aerospace of South Korea collaborated to produce missiles for multiple launch rocket systems (MLRS) Homar-K.
• September 2024: Australia planned to increase its domestic production capability of precision guided munitions (PGM) by inserting locally produced rocket motors and warheads into US guided multiple launch rocket system (GMLRS) missiles.
• May 2024: The United States Army granted Lockheed Martin a US$ 451 million contract to recapitalize additional M270 Multiple Launch Rocket Systems (MLRS), expanding its domestic fleet of launchers and providing improvements for global partners.

Multiple Launch Rocket Systems (MLRS) Market Report Scope:

Key Benefits for Stakeholders:

• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the multiple launch rocket systems (MLRS) market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global multiple launch rocket systems (MLRS) market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the multiple launch rocket systems (MLRS) industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.