About Defence Vehicle
The increasing demand for defence vehicles due to rise in the instances of cross-border conflicts and increasing incidences of asymmetric warfare across the globe are the factors propelling the defence vehicle market. The defence vehicles covers the full spectrum of on- and off-road military requirements. It represents a well thought through, complete and effective response to the requirements of the military, security and civil protection customer. However, high costs of defence vehicles and concerns regarding survivability issues are hampering the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Defence Vehicle market throughout the forecasted period. 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.
BAE Systems plc (United Kingdom), General Dynamics Land Systems (United States), Lockheed Martin (United States), Oshkosh Corporation (United States), Tata Motors (India), Rheinmetall AG (Germany), UralVagonZavod (Russia), Ukroboronprom (Ukraine), Norinco (China) and Textron Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Defence Vehicle market by Type (Infantry Fighting Vehicle, Main Battle Tank, Armored Personnel Carrier, Tactical Trucks and Others), Application (Military, Defence and Others) and Region.
On the basis of geography, the market of Defence Vehicle 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). If we see Market by Mobility, the sub-segment i.e. Wheeled will boost the Defence Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Military Modernization Plans across the World
Market Growth Drivers:
Increasing Demand for Defence Vehicles Due to Rise in the Instances of Cross-Border Conflicts and Increasing Incidences of Asymmetric Warfare across the Globe
Challenges:
Concerns Regarding Survivability Issues
Restraints:
High Costs of Defence Vehicles
Opportunities:
Increased Adoption of Unmanned Combat Ground Vehicles and Development of Modular and Scalable Defence Vehicles
Market Leaders and their expansionary development strategies
In May 2023, Hyundai Rotem partners with Hanwha Defense to develop a new main battle tank for the South Korean Army. This partnership brings together two of South Korea's largest defense companies to collaborate on this critical defense program.
In May 2023,Korea Aerospace Industries (KAI) launched its new unmanned ground vehicle (UGV), the K791, at the Seoul International Aerospace and Defense Exhibition (ADEX). The K791 is designed to perform a variety of tasks, including reconnaissance, surveillance, and target acquisition.
Key Target Audience
Manufacturers of Defence Vehicles, Suppliers of Defence Vehicles, Suppliers of Raw Materials, Defence Industry and Governmental Bodies
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.