About Military Land Vehicles
The military land vehicles are primarily used in the defense sector as carriers of weapons, necessary combat, and transportation. These are available in various types, but majorly it is categorized into two categories including combat vehicles, and technical support vehicle. As the modern battlefield is becoming increasingly mobile and deadly. Therefore, ground military vehicles are considered specialized exploration vehicles. Majorly are employ with a mix of systems, including tanks and infantry fighting vehicles, dismounted investigation patrols, aerial reconnaissance, and reconnaissance vehicles. The COVID-19 pandemic has spread rapidly and has already surpassed more than 32.2 million cases globally. Thereby, lockdown situations have been imposed by the governments to stop the spread of COVID-19. This has resulted in a massive economic slowdown and financial crisis. Global defense spending has also been affected due to the current pandemic situation which is also expected to impact the military ground vehicles industry worldwide.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.94% |
The companies operating in this industry are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The players are focusing on securing a leading position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet a high market share, and developing a socially responsible business company is identifying various strategic pillars such as mergers & acquisitions, new product launch, product enhancement, and others.The Manufacturers having a strong hold in the market are General Dynamics Oshkosh Corporation BAE Systems Elbit Systems Ltd. Rhenmetall. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Dynamics (United States), Oshkosh Corporation (United States), BAE Systems (United Kingdom), Elbit Systems Ltd., Rhenmetall (Germany), ST Engineering (Singapore), Franz Achleitner GMBH (Austria), Ashok Leyland (India), CNH Industrial N.V. (United Kingdom), Deere & Company (United States), Otokar Otomotiv ve Savunma Sanayi A.S. (Turkey), KNDS (Netherlands), Thales Group (France), MacAndrews & Forbes (United States), MEGA (United States), BEML Limited (India), Textron Inc. (United States), Mahindra & Mahindra Limited (India), Lockheed Martin Corporation (United States), Hyundai Motor Company (South Korea) and Tata Motors (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Military Land Vehicles market by Type (Military Battle Tanks, Combat Vehicles, Armored Personal Carriers, Light Utility & Multi-role Vehicles, Military Engineering Vehicles, Self-Propelled Artillery and Others), Application (Combat & Surveillance Operations and Transport & Carrier Operations) and Region.
On the basis of Type, Combat Vehicles are dominating the market in the year 2023 where as Military Battle Tanks stood as second largest market share.
On the basis of application, Transport & Carrier Operations segment is dominating the market in the year 2023 where as Combat & Surveillance Operations segment stood as second largest market .On the basis of geography, the market of Military Land Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Mode of Operation, the sub-segment i.e. Manned will boost the Military Land Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The rise in Acceptance of Light Weight Vehicle in Military Industry and Fielding of Vehicles with Sophisticated Multi-Sensor Arrays
Market Growth Drivers:
Increasing Demand for Armored Vehicles Due to Rise in the Instances of Cross-border Conflicts and Growing Defense Budgets across the Developing Countries
Challenges:
High Costs of Main Battle Tanks
Restraints:
Absence of Major OEMs of Armored Vehicles in the Middle East and Asia Pacific Regions
Opportunities:
Military Modernization Plans Across the Globe and Increase in Adoption of Unmanned Combat Ground Vehicles by Defence Forces of Different Countries
Market Leaders and their expansionary development strategies
In May 2020, American firm Oshkosh Defense and Saudi Arabia’s Al Tadrea Manufacturing Company have established a joint venture to manufacture armed vehicles in the kingdom. The two companies formed Oshkosh Al-Tadrea Manufacturing, creating “the largest partnership in the history of Saudi armored vehicles,” according to a message on Al Tadrea’s official Twitter account.
In February 2020, Rheinmetall has announced the launch of Australia’s Autonomous Combat Warrior (ACW) program that aims to build an automated military vehicle. The ACW project is the first Australian research and technology program. The aim is to develop advanced sovereign robotics and automated vehicle technologies. This will create a local automated military vehicle capability,
Key Target Audience
Military Land Vehicles Manufacturers, Military Land Vehicles International Traders, Military Land Vehicles Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.