Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Military Land Vehicles Market Size and Trend Analysis including Segments, Key Programs, Competitive Landscape and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The 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.
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
Key Highlights
- 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
Scope
- 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
Key Topics Covered:
Executive Summary
Global Military Land Vehicles Market: Overview
Market Dynamics
- Demand Drivers
- Trends
- Technological Developments
- Key Challenges
Global Military Land Vehicles Market: Segment Analysis
- Segment Analysis: Infantry Fighting Vehicles
- Segment Analysis: Armored Personnel Carrier
- Segment Analysis: Main Battle Tanks
- Segment Analysis: Armored Multirole Vehicles
- Segment Analysis: Tactical Trucks
- Segment Analysis: Armored Engineering Vehicles
- Segment Analysis: Support Vehicles
- Segment Analysis: Light Utility Vehicle
Global Military Land Vehicles Market - Regional Analysis
- Global Military Land Vehicles - Regional Overview
- Regional Analysis: Europe
- Supplier share analysis
- Leading countries in the region
Competitive Landscape and Key Programs
- Leading Market Players
- Key Programs
A selection of companies mentioned in this report includes
- ARTEC GmbH
- BAE Systems Plc
- General Dynamics Corp
- Hyundai Motor Co
- KMW+Nexter Defense Systems (KNDS)
- Oshkosh Corp
- Patria Oyj
- Rheinmetall AG
- Rostec Corp
- General Dynamics Corp
- KAMAZ
- CNH Industrial NV
- AB Volvo
- Iveco Oto Melara
- Polish Armaments Group
- Ford Motor Company
- Yugoimport SDPR
- Daimler AG
- Textron Inc
- Elbit Systems Ltd
- Nissan Motor Co Ltd
- AM General LLC
- Mahindra & Mahindra Ltd
- Tata Motors Ltd
- Larsen & Toubro Ltd
- Thales SA
- Hanwha Group.
For more information about this report visit https://www.researchandmarkets.com/r/epo4gk
Source: GlobalData
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