The Armoured Fighting Vehicles and Tanks market in the US exhibited fluctuations over the past decade. The market value peaked in 2016 at $8.5861 billion, followed by a decline with some recovery in recent years. The year-on-year change from 2022 to 2023 was -0.94%, with a market value standing at $7.1644 billion in 2023. The compound annual growth rate (CAGR) over the past five years was 0.12%, indicating relative stability. However, the forecasted future five-year CAGR is -0.79%, suggesting a shrinking market ahead.

Future trends to watch for:

Technological advancements and integration of AI and automation in new vehicle models
Defense budget allocations and policy changes
Geopolitical tensions and shifts in global military strategies
Potential pivots towards unmanned and remote-controlled military assets