Dublin, Aug. 08, 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.
This comprehensive dataset provides market size forecasts and estimated Compound Annual Growth Rate (CAGR) for the next ten years, focusing on the global military land vehicles market.
Market Overview
Geopolitical tensions, cross-border conflicts, varied deployment of armed forces, and standardization requirements are key drivers compelling global military forces to acquire modern military land vehicles. As European countries and NATO seek to enhance conventional capabilities with new platforms in response to the war in Ukraine and tensions with Russia, the Asia-Pacific region is experiencing significant growth in the military land vehicles market. This growth is attributed to the demand for modernizing existing fleets and developing indigenous armored vehicle manufacturing capabilities.
Key Highlights
- The global military land vehicles market is projected to grow at a CAGR of 4.2% over the forecast period from 2023 to 2033.
- Europe is expected to dominate the global military land vehicles market, holding a market share of 47.4% over the forecast period, followed by North America and the Asia-Pacific regions.
- The Infantry Fighting Vehicle (IFV) segment is anticipated to lead the military land vehicles market with a share of 32.7% from 2023 to 2033. IFVs provide combat effectiveness and advanced armored protection, enhancing troop mobility on the battlefield. Key programs such as the Optionally Manned Fighting Vehicle (OMFV) and the Advanced Reconnaissance Vehicle (ARV) are expected to drive the growth of the IFV segment.
Market Segmentation
The report classifies the global military land vehicles market into eight categories, including Main Battle Tanks, Infantry Fighting Vehicles, Armored Personnel Carriers, Armored Multirole Vehicles, Armored Engineering Vehicles, Tactical Trucks, Support Vehicles, and Light Utility Vehicles.
Reasons to Buy:
- Prospective investors can identify high-growth segments based on the report's detailed trend analysis of the global military land vehicles market over the next decade.
- Defense planners and venture capital firms can utilize the insights into demand drivers, industry trends, and technological developments to identify opportunities for revenue expansion and potential funding for high-potential startups.
- Industry participants can gain valuable information on technological developments, existing military land vehicle programs, and major challenges faced by industry players.
Compeitive Landscape
- 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.
Conclusion
The global military land vehicles market is poised for steady growth due to geopolitical tensions and the need for modernization across regions. The report provides a comprehensive analysis of the market dynamics, key programs, competitive landscape, and regional market outlook, enabling stakeholders to make informed business decisions.
For more information about this report visit https://www.researchandmarkets.com/r/ilrc3u
Source: GlobalData
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