Military Land Vehicles Market Report 2023, Demand by Regions and Forecast Till 2028

The latest report by IMARC Group, titled "𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐋𝐚𝐧𝐝 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠 (𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬, 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬), 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 (𝐈𝐧𝐟𝐚𝐧𝐭𝐫𝐲 𝐅𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬, 𝐀𝐫𝐦𝐨𝐫𝐞𝐝 𝐏𝐞𝐫𝐬𝐨𝐧𝐧𝐞𝐥 𝐂𝐚𝐫𝐫𝐢𝐞𝐫𝐬, 𝐌𝐚𝐢𝐧 𝐁𝐚𝐭𝐭𝐥𝐞 𝐓𝐚𝐧𝐤, 𝐋𝐢𝐠𝐡𝐭 𝐌𝐮𝐥𝐭𝐢-𝐑𝐨𝐥𝐞 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬, 𝐓𝐚𝐜𝐭𝐢𝐜𝐚𝐥 𝐓𝐫𝐮𝐜𝐤𝐬, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬), 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐃𝐞𝐟𝐞𝐧𝐬𝐞, 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧), 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖 ", The global military land vehicles market size reached US$ 22.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.70% during 2023-2028.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐋𝐚𝐧𝐝 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐑𝐚𝐩𝐢𝐝 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬:

The military land vehicles industry is currently experiencing significant growth due to continuous technological advancements. Innovations in areas such as autonomous systems, enhanced mobility, improved armor protection, and integration of advanced communication systems are pivotal. These technologies are enhancing the capabilities of existing military vehicles and leading to the development of new types of vehicles. For instance, the incorporation of artificial intelligence (AI) and robotics is enabling the development of unmanned ground vehicles (UGVs), which can perform a variety of tasks without risking human lives. Moreover, advancements in electric and hybrid propulsion systems are facilitating the creation of more energy-efficient and environmentally friendly military vehicles, meeting the increasing demand for sustainable military operations and thus catalyzing market growth.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐓𝐡𝐫𝐞𝐚𝐭𝐬:

The rising global security threats represent a major factor supporting the growth of the military land vehicles industry. With an increase in conflicts, territorial disputes, and geopolitical tensions around the world, nations are prioritizing the modernization and expansion of their defense capabilities. This situation necessitates the procurement of advanced land military vehicles to ensure readiness for various combat and peacekeeping missions. Additionally, the rise in terrorism and asymmetric warfare has compelled countries to invest in military vehicles that are adaptable and capable of operating in diverse terrains and conditions. This escalating need for versatile and robust military land vehicles is fueling market growth as countries seek to strengthen their defense mechanisms against evolving security challenges.

𝐑𝐢𝐬𝐢𝐧𝐠 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐁𝐮𝐝𝐠𝐞𝐭𝐬:

The industry's growth is significantly influenced by government investments and defense budgets. Countries across the globe are allocating substantial portions of their budgets to defense spending, with a growing focus on upgrading and expanding their land military vehicle fleets. This financial commitment is essential for the acquisition of new vehicles, as well as the maintenance and upgrade of existing fleets. The United States, for example, consistently allocates a considerable portion of its budget to defense, with a significant emphasis on land systems. Emerging economies worldwide are also expanding their defense budgets, contributing to the heightened demand for military land vehicles. Additionally, collaborative projects and defense agreements among nations are promoting joint development and procurement initiatives, further stimulating the growth of the military land vehicles market.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐰𝐢𝐭𝐡 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫:

Ashok Leyland Ltd. (Hinduja Group Ltd.)
BAE Systems Plc
General Dynamics Corporation
Hyundai Rotem Company (Hyundai Motor Group)
IVECO S.p.A. (Iveco Group)
Krauss-Mafeeo Wegman GmbH & Co. KG (KMW+ Nexter Defense Systems N.V.)
Oshkosh Defense LLC (Oshkosh Corporation)
Rheinmetall AG
ST Engineering Ltd

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/military-land-vehicles-market/requestsample 

𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐡𝐚𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐜𝐚𝐭𝐞𝐠𝐨𝐫𝐢𝐞𝐬:

𝐁𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠:

Platforms
Services

Services hold the largest market share due to the high demand for maintenance, upgrade, and training services essential for ensuring the operational readiness and longevity of these vehicles.

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞:

Infantry Fighting Vehicles
Armored Personnel Carriers
Main Battle Tank
Light Multi-Role Vehicles
Tactical Trucks
Others

Infantry fighting vehicles dominate the market by product type owing to their versatility in combat and peacekeeping missions and the increasing need for vehicles that can provide direct fire support and troop transportation in diverse terrains.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Defense
Transportation 

The report has provided a detailed breakup and analysis of the military land vehicles market based on the application. This includes defense and transportation.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=7901&flag=C

𝐌𝐚𝐫𝐤𝐞𝐭 𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

North America's dominance in the military land vehicles market is attributed to the rising defense spending by the United States, which includes substantial investments in the development and procurement of advanced military land vehicles.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐋𝐚𝐧𝐝 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The military land vehicles market is currently witnessing several key trends. Firstly, there is a growing emphasis on modernization, with a shift toward incorporating advanced technologies like AI, robotics, and autonomous systems. This trend is enhancing capabilities and operational efficiency. The demand for hybrid and electric vehicles (EVs) is also rising, reflecting a global push toward sustainability in defense operations. Furthermore, the escalating global security threats are propelling the need for more versatile and robust military vehicles. In line with this, increasing international collaborations and expanding defense budgets are fostering innovation and market growth, making it a dynamic and rapidly evolving sector.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

https://researchandmarketreport.blogspot.com/2024/01/electric-vehicle-fluids-market-size.html
https://researchandmarketreport.blogspot.com/2024/01/metal-matrix-composite-market-size.html
https://researchandmarketreport.blogspot.com/2024/01/musical-instrument-market-size-industry.html
https://researchandmarketreport.blogspot.com/2024/01/menthol-cigarette-market-report-2023.html
https://researchandmarketreport.blogspot.com/2024/01/dental-practice-management-software.html
https://researchandmarketreport.blogspot.com/2024/01/snowmobile-market-report-2023-share.html
https://researchandmarketreport.blogspot.com/2024/01/smart-stadium-market-report-2023-size.html

𝐍𝐨𝐭𝐞: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

IMARC Group

Email: sales@imarcgroup.com

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Address: 134 N 4th St. Brooklyn, NY 11249, USA 

Follow us on Twitter: @imarcglobal

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.