Future of Land based Defense Equipment Market: Size, Share & Forecasts to 2029

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What Is the Projected Market Size Valuation of the Land based Defense Equipment Market by 2025?
Over the past few years, the size of the land-based defense equipment market has exhibited solid growth. It is projected to expand from $43.32 billion in 2024 to $46.33 billion in 2025, attaining a compound annual growth rate (CAGR) of 6.9%. The expansion during the historical period can be attributed to increased military budgets, heightened geopolitical tensions, changes in threat landscape, strategic alliances, and operational requirements.

What Is the Estimated Market Growth Value for the Land based Defense Equipment Industry in 2029?
The market size for land-based defense equipment is projected to experience robust growth in the coming years, escalating to a size of $62.02 billion in 2029, with a compound annual growth rate (CAGR) of 7.6%. This expected expansion throughout the forecast period can be credited to factors such as escalating threats, budget appropriations, worldwide security context, international cooperation, and modernization tactics. Dominant trends anticipated during this period encompass cybersecurity anxieties, technological breakthroughs, advances in technology, electrification alongside hybridization, and the use of unmanned systems and robotics.

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What Are the Growth Drivers and Opportunities in the Land based Defense Equipment Market?
Anticipated economic expansion in developing economies is set to bolster the land-based defense equipment market. As an outcome of growth in such economies, increasing disposable income has sparked a surge in defense equipment demand. For example, the Indian Development Update (IDU), a World Bank report, noted in September 2024, that India's economy, which expanded by an impressive 8.2 percent in FY23/24, is anticipated to sustain robust expansion of 7 percent in FY24/25, with the robust growth expected to persist through FY25/26 and FY26/27. This economic ascent is poised to drive the sea-based defense equipment market throughout the forecasted period.

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What Are the Primary Segments Covered in the Global Land based Defense Equipment Market Report?
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

What Are the Top Growth Trends in the Land based Defense Equipment Market?
The utilization of CornerShot rifles in the defense sector is on the rise. These weapons, equipped with a steel hinge, can bend around corners, enabling the user to attack targets without revealing their location. They come with a high-definition camera and LCD monitor to facilitate navigation around corners. These rifles are predominantly used in armored vehicles and tanks' turrets, offering a comprehensive 360-degree coverage while ensuring the safety of the shooter inside the vehicle. Depending on the weapon type, the CornerShot can accurately and effectively hit targets at a range of 100 to 200 meters, thereby eliminating the need for initial exposure.

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Which Companies Are Shaping the Future of the Land based Defense Equipment Market?
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

Which Region Holds the Largest Market Share in the Land based Defense Equipment Industry?
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.

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