Military Ground Vehicle Market, Europe, 2024-2029

Military Ground Vehicle Market, Europe, 2024-2029

Strategic Partnerships Between Companies is Driving Unprecedented Innovation

This analysis of the European military ground vehicle market covers trends, challenges, drivers, restraints, and growth opportunities. An overview of the regional conflicts, recent developments, and main competitors in the field is also provided.

The Russo-Ukrainian War has led to an increase in the production of military equipment by the European defense industry. Several European countries are carrying out large-scale military modernization programs, where they greatly invest in the sustainment of legacy ground vehicles and acquire new, modern platforms. The demand for upgrade kits, spare parts (especially those with modular components), and MRO services will ensure long-term growth. The purchasing power of European countries has increased because of the launch of various defense-related funding programs and strategies that aim to boost the growth of European defense companies, especially small businesses. However, some joint development projects have encountered difficulties due to internal policy disagreements and constrained technology sharing, which could halt growth.