Military Land Vehicles Market Size and Trend Analysis including Segments (Infantry Fighting Vehicles, Armored Personnel Carrier, Main Battle Tanks, Armored Multirole and Engineering Vehicles, Tactical Trucks and Others), Key Programs, Competitive Landscape and Forecast, 2023-2033
"Military Land Vehicles Market Size and Trend Analysis including Segments (Infantry Fighting Vehicles, Armored Personnel Carrier, Main Battle Tanks, Armored Multirole and Engineering Vehicles, Tactical Trucks and Others), Key Programs, Competitive Landscape and Forecast, 2023-2033" dataset provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military land vehicles over the forecast period.
Geopolitical tensions, cross-border conflicts, varied deployment of armed forces, and standardization requirements are driving global military forces to acquire modern military land vehicles.The war in Ukraine and tensions with Russia are motivating European countries and NATO to improve their conventional capabilities with new platforms.
On the other hand, the Asia-Pacific region is witnessing significant growth in the military land vehicles market due to demand for modernizing existing fleets and developing indigenous armored vehicle manufacturing capabilities.
The Infantry Fighting Vehicle (IFV) segment is expected to be the leading segment in the military land vehicles market with a share of 32.7% over 2023–33. Due to their combat effectiveness and advanced armored protection, IFVs provide direct-fire support and enhance the mobility of the troops in the battlefield. The key programs expected to drive the IFV segment growth include Optionally Manned Fighting Vehicle (OMFV) and the Advanced Reconnaissance Vehicle (ARV) for the US army, Kurganets-25 and BMD-4M Sadovnits for Russian armed forces, Borsuk for Polish armed forces, and ZBD-04A for the People’s Liberation Army. According to Aamir Chowdry, Defense Analyst at GlobalData: "The rapid proliferation of anti-tank guided missiles has compelled countries to equip infantry fighting vehicles and armored personnel carriers with enhanced shielding and firepower, like Active Protection Systems (APS) and Remote Weapon Stations (RWS), for soldier protection. Moreover, the increased focus towards the indigenous development of IFVs with advanced offensive capabilities, especially from Europe, North America and Asia-Pacific is also expected to propel the segment growth over the forecast period.”
Europe is expected to dominate the global military land vehicles market from 2023 to 2033.Russia’s dominance in the military land vehicles market in the region is primarily due to the country’s strategic emphasis on maintaining a strong land-based armed force.
The country is undertaking multiple high-value programs like the Kurganets-25 and T-15 IFV procurement to induct more than 4,000 vehicles which will significantly increase it’s share in the global military land vehicles market over the next decade.Meanwhile, France and Germany are looking to replace their Leclerc and Leopard 2 tanks through the Main Ground Combat System program, beginning in 2035.
Additionally, Poland is procuring different types of military land vehicles to enhance their offensive capabilities like the acquisition of upto 980 K2 main battle tanks and the Borsuk IFV under which the delivery of upto 1,400 vehicles will take place for its armed forces. These acquisitions are contributing towards the overall regional market growth.
Who Should Buy
- Defence startup’s, Original Equipment Manufacturers (OEMs), military land vehicle integrators, defence planners, venture capital firms, government agencies, head of marketing, head of sales, CEOs and senior executives.
- The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
- The venture capital firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.
- The global military land vehicles market is expected to grow at a CAGR of 4.2% over the forecast period.
- The global military land vehicles market is classified into eight categories: Main Battle Tanks, Infantry Fighting Vehicles, Armored Personnel Carrier, Armored Multirole Vehicles, Armored Engineering Vehicles, Tactical Trucks, Support Vehicles and Light Utility Vehicles.
- Europe is expected to dominate the global military land vehicles market over the forecast period with a market share of 47.4%, followed by North America and Asia-Pacific regions.
- Infantry Fighting Vehicle is expected to be the largest segment among other military land vehicle categories over the forecast period.
In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: Detailed analysis during 2023–2033, including the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing military land vehicle programs being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2023–2033.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global military land vehicles market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military land vehicles over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military land vehicle segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military land vehicles market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military land vehicles market
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top military land vehicle solution providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available