Impact Of Economic Growth On Land-Based Defense Equipment Market: Key Factor Driving The Growth In The Land based Defense Equipment Market

The Land based Defense Equipment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Land based Defense Equipment Market Size and Its Estimated Growth Rate?
In the past few years, the market size of land-based defense equipment has seen a significant increase. Projections indicate a growth from $47.15 billion in 2024 to $51.04 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.2%. The noticeable growth during the historic period is mainly due to the increase in military budgets, geopolitical disputes, changing threat scenarios, strategic partnerships, and operational needs.

Expectations suggest significant expansion in the land-based defense equipment market in the forthcoming years. The anticipated growth projects a rise to $66.05 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%. The predicted surge during this period results from several factors such as emerging threats, budgetary allotments, the overall global security scenario, international cooperation, and modernization plans. Additionally, the period will witness pertinent trends like issues related to cybersecurity, technological advancements, technology breakthroughs, electrification and hybridization, as well as the deployment of unmanned systems and robotics.

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How Are Emerging Segments Shaping the Land based Defense Equipment Market Landscape?
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:
1) By Armored Vehicles: Infantry Fighting Vehicles (IFVs), Armored Personnel Carriers (APCs), Mine-Resistant Ambush Protected (MRAP) Vehicles, Armored Cars And Transport Vehicles
2) By Missiles: Anti-Tank Guided Missiles (ATGMs), Surface-To-Air Missiles (SAMs), Tactical Ballistic Missiles, Cruise Missiles
3) By Tanks: Main Battle Tanks (MBTs), Light Tanks, Armored Reconnaissance Vehicles, Tank Destroyers
4) By Small Arms And Light Weapons: Rifles, Submachine Guns, Shotguns, Light Machine Guns (LMGs), Handguns, Grenades And Launcher Systems

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Which Growth Factors Are Influencing Land based Defense Equipment Market Expansion?
The ascension of emerging economies' overall economic prowess is set to favorably influence the market for land-based defense equipment. The increase in disposable income, which is a product of economic upsurge in emerging markets, contributed towards an uptick in defense equipment demand. For example, as per the India Development Update (IDU), a publication by the US-based international development entity, the World Bank, India, which witnessed an impressive 8.2 percent growth in FY23/24, is predicted to sustain brisk growth at 7 percent in FY24/25 and uphold this momentum in FY25/26 and FY26/27. This dynamic is expected to fuel the sea-based defense equipment market in the projected time frame.

Who Are the Dominant Players Across Different Land based Defense Equipment Market Segments?
Major companies operating in the land based defense equipment market include 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, Bharat Electronics Limited, Hyundai Rotem Company, Uralvagonzavod, RUAG Group, IVECO Defence Vehicles, Nexter Group, Patria Oyj, FNSS Savunma Sistemleri A.S., Navistar Defense LLC, Denel SOC Ltd, Israel Aerospace Industries Ltd., 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

What Are the Latest Developing Trends in the Land based Defense Equipment Market?
The use of CornerShot rifles is on the rise in defense industries. Thanks to a steel hinge, CornerShot firearms have the ability to aim and shoot around corners without risking exposure to the shooter, which is becoming increasingly effective and popular. These rifles are combined with a high-resolution camera and an LCD monitor to aid the shooter in navigating around corners. These corner-shot rifles are often utilized inside armored vehicles and tanks, especially mounted on turrets, providing 360-degree coverage while ensuring the shooter stays protected inside the vehicle. The effective range of this weapon can extend from 100 to 200 meters, depending on the variant of the weapon. Corner shot obviates the requirement for the shooter to first expose themselves to potential risk.

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Which Geographic Regions Are Expected to Dominate the Land based Defense Equipment Market in the Coming Years?
Asia-Pacific was the largest region in the land-based defense equipment market in 2024. 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Land based Defense Equipment Market?
2. What is the CAGR expected in the Land based Defense Equipment Market?
3. What Are the Key Innovations Transforming the Land based Defense Equipment Industry?
4. Which Region Is Leading the Land based Defense Equipment Market?

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