Global Military Land Vehicles Market Size Study, by Offering (Platform, Services), by Product Type (Infantry Fighting Vehicles (IFV), Armored Personnel Carriers (APC), Main Battle Tanks (MBT), Light Multirole Vehicles (LMV), Tactical Trucks), by Applicati

Global Military Land Vehicles Market Size Study, by Offering (Platform, Services), by Product Type (Infantry Fighting Vehicles (IFV), Armored Personnel Carriers (APC), Main Battle Tanks (MBT), Light Multirole Vehicles (LMV), Tactical Trucks), by Application (Defense and Combat, Logistics and Transportation) and Regional Forecasts 2022-2032

Global Military Land Vehicles Market was valued at USD 24.31 Billion in 2023 and exhibiting a CAGR of 4.61% during the forecast period 2023-2032. Military land vehicles are specialized vehicles designed for use in defense and combat operations. They include a range of armoured and unarmoured vehicles such as tanks, armoured personnel carriers, infantry fighting vehicles, and reconnaissance vehicles. These vehicles are engineered to perform various roles, including troop transport, fire support, and battlefield reconnaissance. They are equipped with advanced technologies for protection, mobility, and firepower, enabling them to operate in diverse and challenging environments. Military land vehicles play a crucial role in modern armed forces, providing tactical and strategic advantages in land-based military operations. Furthermore, geopolitical tensions in present lucrative opportunities for market and increased defense budgets in France, Japan, China, and India further propel market expansion.

Military land vehicles are important for the armed forces across the globe due to several key market drivers such as escalating geopolitical tensions, cross-border conflicts, diverse armed force deployments, and stringent standardization requirements. Moreover, growing geopolitical tensions are expected to drive the expansion of the military land vehicles market. Geopolitical tensions arise from political issues causing conflict or unrest between nations, often driven by power dynamics, trade disputes, military actions, climate change, or significant events. Military land vehicles, designed for high performance in mobility and flexibility across challenging terrains, are essential in such conflicts for transporting soldiers, weapon systems, combat equipment, and supplies.

The key region in the Global Military Land Vehicles Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, the North American region dominates the military land vehicles market, driven by high demand for U.S. military transportation systems and a growing number of U.S. military personnel. The European military land vehicles market holds the second-largest share, supported by consistent defense spending and significant procurement projects. The crisis in Ukraine is expected to increase military land vehicle procurement in several European countries. The Asia-Pacific market is expected to grow at the fastest CAGR due to rising cross-border terrorism in the Indian subcontinent and increased military spending by China, India, South Korea, and Japan. Strategic investments in R&D, manufacturing, and supply chain for military land vehicles by regional producers and suppliers drive market growth.

Major market players included in this report are:
Oshkosh Defense, LLC
General Dynamics Corporation
ST Engineering
BAE Systems plc
Hyundai Rotem
Ashok Leyland
China North Industries Corporation (NORINCO)
Rheinmetall AG
Nexter Systems
Uralvagonzavod
Krauss-Maffei Wegmann (KMW)
Iveco S.p.A.

The detailed segments and sub-segment of the market are explained below:
By Offering:
Platform
Services

By Product Type:
Infantry Fighting Vehicles (IFV)
Armored Personnel Carriers (APC)
Main Battle Tanks (MBT)
Light Multirole Vehicles (LMV)
Tactical Trucks

By Application:
Defense and Combat
Logistics and Transportation

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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