Global Military Land Vehicles Industry to 2031 with Strategic and Financial Analysis of General Dynamics, Oshkosh, China North Industries Group, BAE Systems, etc.
DUBLIN, September 20, 2021 /PRNewswire/ — The report “Global Military Land Vehicles Market to 2031 – Market Size and Drivers, Major Programs, Competitive Landscape and Strategic Outlook” has been added to from ResearchAndMarkets.com offer.
Global Military Land Vehicles Market is valued at US$21.9 billion in 2021 and will grow at a CAGR of 3.74% to reach a value of US$31.6 billion by 2031. The cumulative market for global military ground vehicles is expected to US$292.8 billion over the forecast period.
Demand for military ground vehicles is expected to be driven by the European region, especially in countries such as France, Russia, and the United Kingdom. The North American region will hold the second position globally, showing a steady pace of growth over the forecast period with a CAGR of 2.34%. Major military forces around the world are currently undertaking modernization efforts to replace their legacy platforms in the face of modern threats. These efforts will support the growth of the market over the next decade.
Heightened geopolitical tensions, the need to deploy forces to regions around the world, and standardization requirements within alliances such as NATO are some of the reasons that lead military forces to acquire military ground vehicles. modern. Additionally, tensions with Russia in Eastern Europe are pushing other countries in the region and NATO to improve their conventional capabilities with new platforms capable of countering the heavy armored and mechanized formations of the Russian army. Moreover, the old Soviet equipment currently present in the inventories of Eastern European armies needs to be replaced with new platforms, which is further driving the market growth in the region.
The global military ground vehicles market is expected to be dominated by Europe. Major European countries have increased their defense budgets and tried to maintain them even during the pandemic. This will allow them to implement large-scale procurement projects without major delays. North America will follow the European market. This growth is attributed to the implementation of a wide range of procurement programs by the US Army and US Marine Corps. The most notable programs are the JLTV and the Stryker, which will standardize the country’s vehicle fleet and provide increased protection for its deployed forces. The Canadian Army also contributes to regional growth through the implementation of a series of programs covering several market segments.
- The global military military ground vehicles market is expected to grow at a CAGR of 3.75% during the forecast period.
- The global military ground vehicles market is expected to be dominated by Europe with a revenue share of 41.1%. The growth in Europe market is awarded for spending by countries like the UK, Russia and France among others.
- Armored personnel carriers are expected to be the largest segment of the military ground vehicle market over the forecast period.
In particular, the report provides an in-depth analysis of the following:
- Market size and drivers: Detailed analysis from 2021 to 2031, including highlights of demand and growth drivers. It also provides an overview of the spending and modernization patterns of different regions of the world.
- Recent developments and industry challenges: An overview of technological developments and a detailed analysis of existing military ground vehicle projects being executed and planned around the world. It also provides trends of changing industry structure and challenges faced by industry participants.
- Regional Highlights: study of key markets in each region, providing analysis of key market segments expected to be in demand.
- Major programs: details of each segment’s key programs, which are expected to be executed in 2021-2031.
- Competitive landscape and strategic outlook: competitive landscape analysis of the global military ground vehicles market. It provides an overview of key players, their strategic initiatives and financial analysis.
Main topics covered
- Global Military Land Vehicles Market Overview
- Market dynamics
- Sector analysis
- Regional analysis
- Trend analysis
- Analysis of key programs
- Competitive landscape analysis
- General dynamics
- Oshkosh Corp.
- China North Industries Group Corp. ltd.
- BAE Systems API
- Rostec Corp.
- Rheinmetall SA
- IVECO SpA
- Hyundai Corp.
For more information about this report visit https://www.researchandmarkets.com/r/4ibhyd
Research and Markets
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SOURCE Research and Markets