Press release
Military Vehicle Recovery Solutions Market Intelligence Study for Comprehensive Insights 2017 - 2025
The increasing need for military vehicle recovery solutions due to increase in the war situation is estimated to be one of the major factor boosting the market for the military vehicle recovery solutions, globally. In addition, increase in the demand from the developing country such as India, China and Brazil is the one of the major factor fueling the market for military vehicle recovery solutions market. One of the major factor driving the market is the growing role of ground troops in several parts of the world such as Afghanistan, India and Iraq among others.
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By geography, the global military vehicle recovery solutions market has been classified into five regions namely North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. In 2016, North America holds the largest market share in the global military vehicle recovery solutions followed by Asia Pacific, Europe, Middle East & Africa and Latin America. However, in 2024 Asia Pacific will be the major market for global military vehicle recovery solutions market followed by North America. In 2016, North America expected to be the highest market due to the demand for military vehicle recovery solutions is estimated to be motivated by upgrading initiatives started by the U.S. government and internal security threats such as organized crime and terrorism among others. Rapid modernization of military equipment is one of the major factor boosting the market in the U.S. Asia Pacific is also expected to grow at a high CAGR during the forecast period of 2017 – 2025. In addition, in 2016, China and India is the major market for Asia Pacific and estimated to be the same in the coming years. China held the largest share for the military vehicle recovery solutions market in Asia Pacific in 2016. It is also expected to experience healthy growth in the coming years. Increasing R&D activities started by different organizations is boosting the market in China and Asia Pacific. The market for military vehicle recovery solutions is expected to witness significant growth during the forecast period, mainly due to modernization of military for enhancing tactical operations and border security. Middle East and Africa is estimated to grow at a healthy rate during the forecast period of 2017 – 2025. The major driving factors of the growth of the market are increase safety and protection of the workforce among others. Brazil is estimated to grow at a healthy rate in Latin America.
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Some of the major players in the military vehicle recovery solutions market include are General Dynamics (United States), BAE Systems (United Kingdom), Oshkosh Corporation (United States), ROTZLER (Germany), Rheinmetall (Germany), ST Engineering (Singapore) and Navistar (United States) among others.
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