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Global Military Land Vehicles Market Projected To Grow At 4.2% CAGR From 2023 To 2033 -

By Business Wire

Business Wire
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DUBLIN--(BUSINESS WIRE)--The "Military Land Vehicles Market Size and Trend Analysis including Segments, Key Programs, Competitive Landscape and Forecast, 2023-2033" report has been added to's offering.

The global military land vehicles market is poised to experience substantial growth over the next decade, as geopolitical tensions, cross-border conflicts, and the need for modernization drive global military forces to acquire advanced military land vehicles.

According to this latest report, the market is projected to grow at a CAGR of 4.2% from 2023 to 2033, reaching new heights in terms of size and technological advancements.

Key Market Highlights:

  • Geopolitical Tensions and Modernization Efforts: Growing geopolitical tensions, varied deployment of armed forces, and the need for standardization are pushing global military forces to acquire modern military land vehicles.
  • Europe Dominates the Market: Europe is expected to dominate the global military land vehicles market from 2023 to 2033. Russia's strategic emphasis on maintaining a strong land-based armed force is a key factor in the region's dominance. Additionally, countries like France, Germany, and Poland are actively looking to replace and enhance their existing fleets with new platforms, contributing to the overall regional market growth.
  • Infantry Fighting Vehicle (IFV) Segment Leading: The Infantry Fighting Vehicle (IFV) segment is anticipated to be the leading segment in the military land vehicles market with a share of 32.7% over the forecast period. IFVs provide direct-fire support, enhance troop mobility in the battlefield, and offer advanced armored protection, driving their demand.

Market Segmentation:

The military land vehicles market is classified into eight categories:

  • Main Battle Tanks
  • Infantry Fighting Vehicles
  • Armored Personnel Carriers
  • Armored Multirole Vehicles
  • Armored Engineering Vehicles
  • Tactical Trucks
  • Support Vehicles
  • Light Utility Vehicles

Insights from the Market:

"The rapid proliferation of anti-tank guided missiles has compelled countries to equip infantry fighting vehicles and armored personnel carriers with enhanced shielding and firepower, such as Active Protection Systems (APS) and Remote Weapon Stations (RWS), for soldier protection. Moreover, the increased focus towards the indigenous development of IFVs with advanced offensive capabilities, especially from Europe, North America, and Asia-Pacific, is also expected to propel the segment growth over the forecast period," said Aamir Chowdry, Defense Analyst.

Who Should Buy:

The report is valuable for defense startups, Original Equipment Manufacturers (OEMs), military land vehicle integrators, venture capital firms, government agencies, and executives who can utilize the data to identify high-growth segments and customize offerings to match project requirements.

Key Program Highlights:

The report provides details of key programs in each segment, which are expected to be executed during 2023-2033, offering insights into the latest technological developments and existing military land vehicle programs worldwide.

Competitive Landscape and Strategic Insights:

The report also offers an analysis of the competitive landscape of the global military land vehicles market, providing an overview of key players, their strategic initiatives, and financial analysis.

Company Portfolio:

  • ARTEC GmbH
  • BAE Systems Plc
  • General Dynamics Corp
  • Hyundai Motor Co
  • KMW+Nexter Defense Systems (KNDS)
  • Oshkosh Corp
  • Patria Oyj
  • Rheinmetall AG
  • Rostec Corp
  • General Dynamics Corp
  • CNH Industrial NV
  • AB Volvo
  • Iveco Oto Melara
  • Polish Armaments Group
  • Ford Motor Company
  • Yugoimport SDPR
  • Daimler AG
  • Textron Inc
  • Elbit Systems Ltd
  • Nissan Motor Co Ltd
  • AM General LLC
  • Mahindra & Mahindra Ltd
  • Tata Motors Ltd
  • Larsen & Toubro Ltd
  • Thales SA
  • Hanwha Group

For more information about this report visit

Source: GlobalData

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First published on Mon, Aug 21, 2023

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ResearchAndMarkets Military Land Vehicles Infantry Fighting Vehicle (IFV) Main Battle Tanks


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