Key Market Trends and Insights
- North America dominated the market in 2025 and is projected to grow at a CAGR of 5.32% over the forecast period 2025 to 2035.
- By Rocket Type, the Precision-Guided Munitions segment is projected to witness a CAGR of 6.85% over the forecast period.
- By Platform, the Wheeled Vehicles segment is expected to register 6.18% CAGR over the forecast period.
Market Size & Forecast
- Market Size in 2025: USD 0.82 Billion
- Projected Market Size in 2035: USD 1.57 Billion
- CAGR from 2026-2035: 5.57%
- Fastest-Growing Regional Market: North America
The MLRS market growth is driven by lessons of recent conflicts demonstrating decisive battlefield roles for long-range precision rocket artillery. Global military expenditure reached USD 2.44 trillion in 2023, up 6.8% in real terms. In May 2024, Lockheed Martin received a HIMARS contract for additional US Army systems. Poland's USD 1.6 billion Chunmoo acquisition from Hanwha and Finland's USD 450 million modernisation reflect European NATO nations urgently expanding MLRS capabilities. North America commands approximately 38-40% of the global MLRS market.
Key Take Aways
- Key Takeaway 1: North America commands 38-40% of global MLRS market share, anchored by Lockheed Martin's HIMARS and M270 production and the US Army's sustained modernisation investment.
- Key Takeaway 2: Approximately 70% of new MLRS orders in 2024-2025 targeted wheeled launch vehicles over traditional tracked platforms driven by superior mobility and faster deployment in modern high-tempo operations.
- Key Takeaway 3: Poland's USD 1.6 billion Chunmoo acquisition and Finland's USD 450 million MLRS modernisation exemplify European NATO nations' urgent post-Ukraine rocket artillery capability expansion.

