Military Vehicle Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The global military vehicle market is largely driven by the rise in demand for heavy-duty combat/non-combat vehicles to keep a check on the alarming rise in various cross-border conflicts and international disputes. Several defense forces across the world are readily focusing on increasing their armored vehicle capabilities which is creating an ample growth opportunity for key military vehicle manufacturers. Additionally, the advancement in various defense technologies including sensors, autonomous driving, and weapons upgrade are bolstering the growth of the global military vehicle market.

MARKET SCOPE

The "Global Military Vehicle Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Military Vehicle market with detailed market segmentation by Type, Application, Technology, and geography. The global Military Vehicle market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Military Vehicle market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis Type, the market is segmented as Tanks, Military Trucks, Amphibious military vehicles, Armored Vehicles, Tactical Vehicles, Reconnaissance Vehicles, Special Purpose Vehicles, and Others.
  
•   On the basis of Application, the market is segmented as Ground Support Handling, Tactical Warfare, ISR, Military Transportation, and Others.
  
•   On the basis of Technology, the market is segmented into Autonomous Vehicles, and Manually Driven Vehicles.
  

MARKET DYNAMICS
Drivers:

•   Growing incidents of security breaches due to cross-border conflicts
  
•   Increasing illicit activities across the globe and defense organizations' efforts to keep a check on these activities
  
•   Rising adoption of unmanned autonomous vehicle adoption by ground forces of several countries
  

Restraints:

•   High research and development expenses for developing countries
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Military Vehicle market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Military Vehicle market in these regions.

IMPACT OF COVID-19 ON MILITARY VEHICLE MARKET

At the onset of the COVID-19 pandemic, major defense industry players saw a disruption in the supply chain due to the shutdown of industrial facilities and restrictions on transit between nations. For instance, BAE systems experienced delays in procurement on the industry side, along with delayed requests for proposals from the government. However, several defense projects gradually opened up owing to the dire need of the governments to ensure a strong defense force. For instance, the US government infused $4.6 billion into the defense-industrial base between the start of the pandemic and Jan. 31, 2021. Moreover, the defense budget of major economies remained unaffected in 2021 as the geopolitical conflicts are on the rise and airborne warning and control systems provide strengthened air defense support. Therefore, the impact of COVID-19 pandemic was initially negative on the market due to disruptions in the global supply chain, and the market is starting to recover in 2021 as governments are readily investing in essential defense projects.

Military Vehicle Market Report Analysis

Military Vehicle Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Ashok Leyland
• Tata Motors
• Oshkosh Corporation
• Rheinmetall AG
• IVECO DEFENCE VEHICLES (CNH INDUSTRIAL)
• JSC
• Lockheed Martin Corporation
• General Dynamics Corporation
• Thales Group

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Tanks
• Military Trucks
• Amphibious military vehicles
• Armored Vehicles
• Tactical Vehicles
• Reconnaissance Vehicles
• Special Purpose Vehicles

By Application

• Ground Support Handling
• Tactical Warfare
• ISR
• Military Transportation

By Technology

• Autonomous Vehicles
• Manually Driven Vehicles

MARKET PLAYERS

The report covers key developments in the Military Vehicle market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Military Vehicle market are anticipated to lucrative growth opportunities in the future with the rising demand for Military Vehicle in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Military Vehicle market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Ashok Leyland
  
•   Tata Motors
  
•   Oshkosh Corporation
  
•   Rheinmetall AG
  
•   IVECO DEFENCE VEHICLES (CNH INDUSTRIAL)
  
•   JSC "Scientific and Production Corporation" Uralvagonzavod "
  
•   Lockheed Martin Corporation
  
•   General Dynamics Corporation
  
•   Thales Group
  
•   Soframe
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Military Vehicle Market Report Scope