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Tank & Armored Vehicle Manufacturing in the US - Industry Market Research Report

Tank & Armored Vehicle Manufacturing in the US - Industry Market Research Report

  • February 2019
  • 42 pages
  • ID: 198818
  • Format: PDF
  • By Ibisworld

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Pitched battle: Increasing geopolitical tensions are anticipated to maintain a high demand for exports

Abstract

Tank & Armored Vehicle Manufacturing in the US
Over the five years to 2018, the Tank and Armored Vehicle Manufacturing industry finally began to recover after taking a direct hit from plummeting demand. Industry players research, develop, manufacture, modify and repair military armored vehicles, self-propelled artillery and tanks. Before the current five-year period, demand for industry products skyrocketed due to the United States’ involvement in two wars, which increased demand for industry products. However, as the United States began to scale down combat operations in the Middle East toward the beginning of the five-year period, the defense budget was reduced, sequestration kicked in and spending on industry products plunged. However, in more recent years, the defense budget has started to increase and exports climbed, helping industry revenue start to recover in the second half of the five-year period. Over the five years to 2023, industry revenue is forecast to rise.

This US industry manufactures complete military armored vehicles, combat tanks and specialized components for combat tanks, including self-propelled weapons.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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