Military Land Vehicles Market Size and Trend Analysis including Segments (Infantry Fighting Vehicles, Armored Personnel Carrier, Main Battle Tanks, Armored Multirole Vehicles, Tactical Trucks and Others), Key Programs, Competitive Landscape and Forecast, 2022-2032
The global military land vehicles market size was $18.4 billion in 2022. The market is projected to grow at a CAGR of more than 4% during the forecast period. Major military forces around the globe are currently undertaking modernization efforts to replace their legacy platforms in the face of modern threats. Increased geopolitical tensions, low-intensity warfare incidents, the need for the deployment of forces in areas all over the world, and standardization requirements as part of alliances such as NATO are some of the reasons that drive military forces to acquire modern military land vehicles.
The global military land vehicles market research report provides an in-depth analysis of the competitive landscape consisting of detailed profiles of the top military land vehicle providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
For more insights on this report, download a free report sample
Key Military Land Vehicles Market Drivers
The increased focus on the development and manufacturing of state-of-the-art armored vehicles by the leading military powers such as the US to replace their aging inventory of Cold War-era vehicles is anticipated to drive the market over the forecast period. Moreover, territorial disputes between countries such as India-Pakistan, China-India, Russia-Eastern European countries, and Saudi Arabia-Iran, among others, have led to an increase in the global demand for military land vehicles. Conflicts such as these necessitate the deployment of armored vehicles in order to carry out area dominance exercises and display military strength. As a result, these conflict areas have witnessed arms races, which will drive market growth.
Key Military Land Vehicles Market Trends
One of the emerging trends within the military land vehicles market is the integration of remote vehicle operational capability or ‘teleoperation’ capabilities. While remote weapons stations have become a common feature on armored vehicles over the last decade, military forces such as the US Army and Russian Army have increasingly pursued the integration of full remote-operational capabilities for their land vehicles.
The emerging demand for remote operational capabilities in armored vehicles, which is derived from the rapid growth of robotics and autonomous systems (RAS) within the land domain, will further support the market growth in the coming years.
Regional Outlook of the Military Land vehicles Market
The military land vehicles market is present in Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. The global military land vehicles market is expected to be led by Europe, as major European countries have increased their defense budgets and have tried to maintain their military expenditures even during the pandemic.
Military Land vehicles Market by Regions
For more regional insights, download a free report sample
Key Military Land Vehicles Market Segments
The key segments in the military land vehicles market are armored personnel carriers, infantry fighting vehicles (IFV), main battle tanks, armored multirole vehicles, tactical trucks, armored support vehicles, armored engineering vehicles, and light utility vehicles. IFV is expected to be the largest segment in the market during the forecast period.
Military Land vehicles Market by Segments
For more segment insights, download a free report sample
Key Players in the Military Land vehicles Market
A few of the key players in the military land vehicles market are Rostec Corp, General Dynamics, CNH Industrial N.V., Rheinmetall AG, Oshkosh Corp, China North Industries Group Corp Ltd, BAE Systems Plc, Iveco SpA, Hyundai Corp, and Tata Motors Ltd.
Market Report Overview
| Market Size (Year – 2022) | $18.4 Billion |
| CAGR (2022-32) | >4% |
| Key Regions | Asia Pacific, North America, Europe, The Middle East, Africa, and Latin America |
| Key Segments | Armored Personnel Carrier, Infantry Fighting Vehicle, Main Battle Tank, Armored Multirole Vehicle, Tactical Trucks, Armored Support Vehicles, Armored Engineering Vehicles, and Light Utility Vehicle |
| Key Players | Rostec Corp, General Dynamics, CNH Industrial N.V., Rheinmetall AG, Oshkosh Corp, China North Industries Group Corp Ltd, BAE Systems Plc, Iveco Spa, Hyundai Corp, and Tata Motors Ltd. |
Scope
In particular, the report provides an in-depth analysis of the following –
- Market size and drivers: Detailed analysis during 2022-2032, 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 projects 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 2022-2032.
- 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 an in-depth understanding of 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 vehicle market, providing a clear picture of 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 providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available
Key Players
Table of Contents
Frequently Asked Questions
The global military land vehicles market size is $18.4 billion in 2022.
The military land vehicles market is projected to grow at a CAGR of more than 4% during the forecast period.
The military land vehicles market is present in Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America.
The key segments in the military land vehicles market are armored personnel carriers, infantry fighting vehicles, main battle tanks, armored multirole vehicles, tactical trucks, armored support vehicles, armored engineering vehicles, and light utility vehicles.
Some of the leading players in the military land vehicles market are Rostec Corp, General Dynamics, CNH Industrial N.V., Rheinmetall AG, Oshkosh Corp, China North Industries Group Corp Ltd, BAE Systems Plc, Iveco SpA, Hyundai Corp, and Tata Motors Ltd.
Get in touch to find out about our multi-purchase discounts
reportstore@globaldata.com
Tel +44 (0) 20 7947 2960
Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.
Still undecided about purchasing this report?
Testimonial
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.