Land based Defense Equipment Market 2024 - By Growth Rate, Sales, Production, Consumption Manufacturers, Shares And Outlook By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Land based Defense Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $81.85 billion In 2028 At A CAGR Of 5.9% :

The land based defense equipment market size has grown strongly in recent years. It will grow from $60.11 billion in 2023 to $65.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to growth in military budgets, geopolitical tensions, threat landscape, strategic alliances, operational requirements.

The land based defense equipment market size is expected to see strong growth in the next few years. It will grow to $81.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to emerging threats, budget allocations, global security environment, international collaboration, modernization strategies. Major trends in the forecast period include cybersecurity concerns, technological innovations, technology advancements, electrification and hybridization, unmanned systems and robotics.

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Land based Defense Equipment Market Major Segments
The land based defense equipment market covered in this report is segmented -

1) By Type: Armored Vehicles, Missiles, Tanks, Small Arms and Light Weapons
2) By Operation: Autonomous Land based Defense Equipment, Manual
3) By Application: Military, Law Enforcement

Subsegments Covered: Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles, Short Range, Medium Range, Intermediate Range, Intercontinental, Light, Medium, Heavy, Small Arms, Light Weapons

Key Driver - Impact Of Economic Growth On Land-Based Defense Equipment Market

The overall economic growth of the emerging economies is expected to positively impact the land-based defense equipment market. Rising disposable income, a result of economic growth in emerging markets, had a positive impact on the demand for defense equipment. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Stable economic growth is expected to increase investments in the nation's security, thereby driving the sea-based defense equipmentmarket during the forecast period.

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Prominent Trend - Rising Adoption Of Cornershot Rifles In Defense

CornerShot rifles are increasingly being used in the defense industry. CornerShot weapons have a steel hinge that allows the gun's frame to bend around the corner to attack the target without exposing themselves. These rifles help shooters navigate around corners via a high-resolution camera and LCD monitor. The corner-shot rifles are widely used inside armored vehicles and tanks, on a turret up top, which will allow for a full 360-degree field of cover while the triggerman remains safely inside the vehicle. The weapon is accurate and effective up to 100 to 200 meters, depending on the type of weapon. Corner Shot removes the need for this initial exposure.

Land based Defense Equipment Market Players
Major companies operating in the land based defense equipment market report are China North Industries Group Corporation Limited, Raytheon Company, Lockheed Martin Corporation, Hanwha Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, Thales Group, Leonardo S.p.A., Oshkosh Corporation, Science Applications International Corporation (SAIC), Rheinmetall AG, Elbit Systems Ltd., Larsen & Toubro Limited, Hindustan Aeronautics Limited, Bharat Electronics Limited, Hyundai Rotem Company, Uralvagonzavod, IMI Systems, RUAG Group, IVECO Defence Vehicles, Nexter Group, Patria Oyj, FNSS Savunma Sistemleri A.S., Navistar Defense LLC, Denel SOC Ltd, Israel Aerospace Industries Ltd., Giat Industries, Krauss-Maffei Wegmann GmbH & Co. KG, Otokar Otomotiv ve Savunma Sanayi A.S., Paramount Group, Plasan Sasa Ltd., Rafael Advanced Defense Systems Ltd., Rostec State Corporation, ST Engineering, Tata Motors Limited, Ukroboronprom

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the land-based defense equipment market in 2023. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the land based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Land based Defense Equipment Market Report Structure
3. Land based Defense Equipment Market Trends And Strategies
4. Land based Defense Equipment Market - Macro Economic Scenario
5. Land based Defense Equipment Market Size And Growth
…..
27. Land based Defense Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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