The modular combat turret market in Europe is expected to grow from US$ 577.40 million in 2021 to US$ 1,043.85 million by 2028; it is estimated to grow at a CAGR of 8.8% from 2021 to 2028.
France, Germany, Italy, UK, and Russia are major economies in Europe. Surging military expenditure is the major factor driving the Europe modular combat turret market. The swift change in modern-day warfare has been urging the governments to allocate higher amounts toward respective military forces. The budget allocated to military helps the military forces to engage themselves in the development of robust indigenous technologies and procurement of advanced weapons, armaments, vehicles, and other equipment from international manufacturers. There is a rise in modernization of soldiers and military vehicles among most of the military forces to keep the personnel and vehicles mission ready. With an objective to modernize soldiers and vehicles, the defense ministries across the Europe are investing substantial amounts in newer technologies, including modular combat turrets. This factor is boosting the growth of the modular combat turret market. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure rose to US$ 1,917 billion in 2019, which represents 3.6% increase from 2018. Most of the expenditure listed above is focused on the modernization of armored vehicles, IFVs, main battle tanks, with advanced solutions to combat the enemies easily. As the modular combat turrets on vehicles offer enhanced security and protection, suppliers are focusing on making these turrets compatible with almost any kind of armored wheeled or tracked vehicle. The turrets also enable moving targets to be engaged accurately and effectively even when the vehicle itself is moving. To avoid risks at the battlefields, the demand for modular combat turrets is surging among the military. Thus, the governments and military forces are increasingly emphasizing on investing on modular combat turrets, which is bolstering the growth of the Europe modular combat turret market.
The European defense contractors receive a significant number of contracts year-on-year from customer (military forces/governments). The UK, Germany, and France have the highest number of defense contractors in the region. The COVID-19 outbreak has interrupted the manufacturing process and supply chain in these countries. These are among the worst hit countries in Europe. Several European defense contractors are heavily dependent on the US, China, and Indian defense forces. The international supply chain disruptions coupled with lower military spending has been adversely affecting the businesses of European defense contractors. The modular combat turret manufacturers are also witnessing the decline in their business due to the factors mentioned above.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe modular combat turret market. The Europe modular combat turret market is expected to grow at a good CAGR during the forecast period. 
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Europe Modular Combat Turret Market Segmentation
Europe Modular Combat Turret Market – By Type
- Manned Turret
- Unmanned Turret
Europe Modular Combat Turret Market – By Platform
- Land
- Naval
- Airborne
Europe Modular Combat Turret Market, by Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Europe Modular Combat Turret Market - Companies Mentioned
- BAE Systems
- Curtiss-Wright Corporation
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Platform
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Modular Combat Turret Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Modular Combat Turret–Market Dynamics
5.1 Market Drivers
5.1.1 Main Battle Tanks and Armored Combat Vehicles Witnessing Increase in Demand
5.1.2 Military Expenditure Surging
5.2 Market Restraints
5.2.1 Performance and Maintenance Issues in Modular Combat Turrets
5.3 Market Opportunities
5.3.1 Unmanned Turrets at High Demand
5.4 Future Trends
5.4.1 Older or Existing Fleet Getting Replaced
5.5 Impact Analysis of Drivers and Restraints
6. Modular Combat Turret Market – Europe Analysis
6.1 Europe Modular Combat Turret Market Overview
6.1.1 Europe Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
7. Europe Modular Combat Turret Market – By Type
7.1 Overview
7.2 Europe Modular Combat Turret Market, by Type (2020 & 2028)
7.3 Manned Turret
7.3.1 Overview
7.3.2 Manned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Unmanned Turret
7.4.1 Overview
7.4.2 Unmanned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Modular Combat Turret Market Analysis – By Platform
8.1 Overview
8.2 Europe Modular Combat Turret Market, By Platform (2020 & 2028)
8.3 Land
8.3.1 Overview
8.3.2 Land: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Airborne
8.5.1 Overview
8.5.2 Airborne: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Modular Combat Turret Market – Country Analysis
9.1 Overview
9.1.1 Europe Modular Combat Turret Market Breakdown, by Country
9.1.1.1 France Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.1.1 France Modular Combat Turret Market Breakdown, by Type
9.1.1.1.2 France Modular Combat Turret Market Breakdown, by Platform
9.1.1.2 Germany Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.2.1 Germany Modular Combat Turret Market Breakdown, by Type
9.1.1.2.2 Germany Modular Combat Turret Market Breakdown, by Platform
9.1.1.3 Italy Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.3.1 Italy Modular Combat Turret Market Breakdown, by Type
9.1.1.3.2 Italy Modular Combat Turret Market Breakdown, by Platform
9.1.1.4 UK Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.4.1 UK Modular Combat Turret Market Breakdown, by Type
9.1.1.4.2 UK Modular Combat Turret Market Breakdown, by Platform
9.1.1.5 Russia Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.5.1 Russia Modular Combat Turret Market Breakdown, by Type
9.1.1.5.2 Russia Modular Combat Turret Market Breakdown, by Platform
9.1.1.6 Rest of Europe Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.6.1 Rest of Europe Modular Combat Turret Market Breakdown, by Type
9.1.1.6.2 Rest of Europe Modular Combat Turret Market Breakdown, by Platform
10. Impact of COVID-19 Pandemic on Europe Modular Combat Turret Market
10.1 Europe
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profile
12.1 BAE Systems plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Curtiss-Wright Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Elbit Systems Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Jenoptik AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Leonardo S.p.A.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Moog Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Otokar Otomotiv ve Savunma Sanayi A.S.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Rheinmetall AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Modular Combat Turret Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. France Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 4. France Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 5. Germany Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. Germany Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 7. Italy Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. Italy Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 9. UK Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 10. UK Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 11. Russia Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 12. Russia Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of Europe Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 14. Rest of Europe Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Modular Combat Turret Market Segmentation
Figure 2. Europe Modular Combat Turret Market Segmentation – By Country
Figure 3. Europe Modular Combat Turret Market Overview
Figure 4. Manned Turret Segment is Expected to Dominate the Market by Type
Figure 5. Land Segment held Largest Market Share in 2020
Figure 6. Russia held Largest Market Share in 2020
Figure 7. Porter’s Five Forces Analysis
Figure 8. Expert Opinion
Figure 9. Europe Modular Combat Turret Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Europe Modular Combat Turret Market Revenue Share, by Type (2020 & 2028)
Figure 12. Europe Manned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe Unmanned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Modular Combat Turret Market Revenue Share, by Platform (2020 & 2028)
Figure 15. Europe Land: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe Naval: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Airborne: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Modular Combat Turret Market, by Key Country - Revenue 2020 (US$ Million)
Figure 19. Europe Modular Combat Turret Market Breakdown, by Country, 2020 & 2028(%)
Figure 20. France Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 21. Germany Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 22. Italy Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 23. UK Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 24. Russia Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 25. Rest of Europe Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in Europe Country Markets
- BAE Systems
- Curtiss-Wright Corporation
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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