Military Land Vehicles Market Scope
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.
The Military Land Vehicles market study is segmented by Type (Military Battle Tanks, Combat Vehicles, Armored Personal Carriers, Light Utility & Multi-role Vehicles, Military Engineering Vehicles, Self-Propelled Artillery and Others), by Application (Combat & Surveillance Operations and Transport & Carrier Operations) and major geographies with country level break-up.
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.
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.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Military Land Vehicles market by Type, Application and Region. On the basis of Type, Combat Vehicles are dominating the market in the year 2020 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 2020 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 2020. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
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,
- The rise in Acceptance of Light Weight Vehicle in Military Industry
- Fielding of Vehicles with Sophisticated Multi-Sensor Arrays
- Increasing Demand for Armored Vehicles Due to Rise in the Instances of Cross-border Conflicts
- Growing Defense Budgets across the Developing Countries
- Military Modernization Plans Across the Globe
- Increase in Adoption of Unmanned Combat Ground Vehicles by Defence Forces of Different Countries
- Absence of Major OEMs of Armored Vehicles in the Middle East and Asia Pacific Regions
- High Costs of Main Battle Tanks
Key Target AudienceMilitary Land Vehicles Manufacturers, Military Land Vehicles International Traders, Military Land Vehicles Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Military Land Vehicles Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.
3. What is expected growth rate?
According to AMA, the Global Military Land Vehicles market is expected to see growth rate of 3.94%.