Military Vehicle Sustainment Market by Vehicle Type (Armored Vehicles, Military Trucks), Service (Maintenance, Repair, & Overhaul (MRO), Training & Support, Parts and Components Supply, Upgrades & Modernization), End User & Region- Global Forecast to 2028

Military Vehicle Sustainment Market by Vehicle Type (Armored Vehicles, Military Trucks), Service (Maintenance, Repair, & Overhaul (MRO), Training & Support, Parts and Components Supply, Upgrades & Modernization), End User & Region- Global Forecast to 2028

The Military Vehicle Sustainment market is projected to grow from USD 16.8 Billion in 2023 to USD 23.5 Billion by 2028, at a CAGR of 7.0% during the forecast period. Technological advancements and increasing demand for military vehicles across the globe are driving the growth of the market.

The Armored Personnel Carrier is projected to hold highest share of the market by Vehicle type during the forecast period.

Based on Vehicle type, the armored personnel carrier segment of the Military Vehicle Sustainment market is projected to hold the highest share during the forecast period. The Armored Personnel Carrier (APC) are widely used vehicle in military. The APCs are used on regular basis for the transportation of personnel and military equipments. Due to its regular use proper and daily maintenance and repair is crucial to keep the APCs operational in high amount.

The Army segment is projected to grow at highest rate by End User Type.

Based on End User type, the Army segment is projected to grow at highest rate during the forecast period. Military Vehicles are widely used by Army. For Transportation, Surveillance, Information Gathering, Rescue Mission, Combat Missions and many for many other purpose Army uses the military vehicles. Due to wide use case of military vehicle in Army the need of sustainment services arises. To keep the military vehicle mission- ready maintenance, repair, upgradation and modernization is required.

Asia Pacific is expected to account for the largest market share in 2023.

The Military Vehicle Sustainment market industry has been studied in North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific accounted for the largest market share for Military Vehicle Sustainment. Asia Pacific is estimated to grow at CAGR of 5.3 % during the forecast period. India leads the market in Asia Pacific with a large number of companies and startups operating in the industry. The country is playing a vital role in the advancement and services of Military Vehicle Sustainment. India is planning to privatize the sustainment services for military vehicles.

The break-up of the profile of primary participants in the MILITARY VEHICLE SUSTAINMENT market:

By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%

By Designation: C Level – 35%, Managers – 25%, Others-40%

By Region: North America –30%, Europe – 20%, Asia Pacific – 40%, Rest of the World – 10%

Prominent companies include Rheinmetall AG (Germany), BAE Systems (UK), General Dynamic Corporation (US), Elbit Systems Ltd (Israel), and Oshkosh Corporation (US) and among others.

Research Coverage:

This research report categorizes the Military Vehicle Sustainment market by Vehicle Type (Armored Vehicles, Military Trucks), by Service (Maintenance, Repair and Overhaul (MRO), Training and Support, Parts and Components Supply, Upgrades and Modernization) , by End User (Army, Navy, Air Force), and by region (North America, Europe, Asia Pacific, Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Military Vehicle Sustainment market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services; key strategies; Contracts, partnerships, and agreements. New product & service launches, mergers and acquisitions, and recent developments associated with the Military Vehicle Sustainment System market. Competitive analysis of upcoming startups in the Military Vehicle Sustainment market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Military Vehicle Sustainment Service market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Rising technology integration and upgrades in military vehicles, Increased adoption of data-driven and predictive maintenance, Growing focus on lifecycle management strategy), restraints (High cost and maintenance time for Fleet modernization, Technology gaps in military vehicle sustainment market, Limited utilization of data for sustainment), opportunities (Use of autonomous systems, Rising adoption of Lifecycle optimization strategy for sustainment, Supply chain efficiency enhancement), and challenges (Lack in resource allocation,Lack of cost optimization for sustainment ) influencing the growth of the authentication and brand protection market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Military Vehicle Sustainment market

Market Development: Comprehensive information about lucrative markets – the report analyses the Military Vehicle Sustainment market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Military Vehicle Sustainment market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the Military Vehicle Sustainment market