Infantry Fighting Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

Infantry Fighting Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

The global infantry fighting vehicle market is anticipated to register a steady CAGR in the forecast period, 2023-2027. The increasing incidence of asymmetric warfare and cross-border conflicts and the rise in adoption of unmanned combat ground vehicles by armed forces are the primary factors driving the demand for the global infantry fighting vehicle market. Also, the advancements in technology to upgrade and advance the armored vehicles to improve their functionality and performance are expected to create lucrative growth opportunities for the global infantry fighting vehicle market in the next five years.

Growing Incidence of Asymmetric Warfare Drives the Market Demand

Asymmetric warfare, also known as asymmetric engagement, is described as warfare in which the two parties or nations whose military powers or strategy or power differ significantly. The weaker party makes the use of unconventional weapons or tactics to have an upper edge over their enemies. The rise in incidences of asymmetric warfare has been observed worldwide over the past few years due to religious, socio-economic, and political factors. The government is working on strengthening its armed forces and is investing in modernizing and procuring modern vehicles, equipment, weapons, and technologies to counter such situations. The rise in the adoption of combat vehicles or armored vehicles for defense or self-protection against terrorist attacks as they can provide protection against blast and ballistic attacks is expected to fuel the market demand. Infantry fighting vehicles are equipped with gun systems, making them ready to carry out counter-insurgency operations. Therefore, to make the nation ready to face asymmetric warfare, the government is adopting armored vehicles and advanced weapons, which is expected to fuel the growth of the global infantry fighting vehicle market over the next five years.

Growing Popularity of Unmanned Combat Vehicles is Expected to Boost the Market Demand

Defense forces are investing significant amounts in procuring unmanned combat vehicles to carry out combat and Intelligence, Surveillance, and Reconnaissance (ISR) operations. Best infantry fighting vehicle or unmanned combat vehicle can replace defense personnel and can increase the winning probability of the owner nations. An unmanned combat vehicle is a combat vehicle and can also be said as an aircraft, ground-based, and surveillance vehicle which is capable of attacking targets and is recoverable and reusable. The systems are remotely controlled by the controller and are also responsible for conducting armed engagements. Market players are working on developing next-generation unmanned combat vehicles, which would be best suited in a ‘4 D mission’ and are expected to be more highly advanced and accurate than their previous versions. The unmanned combat vehicles also lower the number of human causalities during combat situations which is a major factor for their high demand across the globe. Therefore, the advantages offered by unmanned combat vehicles and the continuous evolution in technology by the market players to upgrade their existing structure are expected to propel the global infantry fighting vehicle market growth over the forecast period.

Market Segmentation

The global infantry fighting vehicle market is segmented into type, application, configuration, regional distribution, and competitive landscape. Based on type, the market is divided into wheeled and tracked. Based on application, the market is divided into combat, armored reconnaissance, and others. Based on configuration, the market is bifurcated into amphibious and non-amphibious. To analyze the market based on the region, the global infantry fighting vehicle market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East and Africa. The United States is anticipated to hold a significant market share in the forecast period, 2023-2027. Military modernization programs and the high defense expenditure is driving the market demand in the country.

Market Players

BAE Systems Plc, FNSS Savunma Sistemleri A.Ş., Hanwha Defense Systems, Krauss-Maffei Wegmann GmbH & Co. KG, Paramount Group, Saab AB, Rheinmetall AG, Kurganmashzavod JSC, Iveco - Oto Melara Consortium, General Dynamics Corporation, are the major market players operating in the global infantry fighting vehicle market.

Report Scope:

In this report, global infantry fighting vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Infantry Fighting Vehicle Market, By Type:
• Wheeled
• Tracked
• Infantry Fighting Vehicle Market, By Application:
• Combat
• Armored Reconnaissance
• Others
• Infantry Fighting Vehicle Market, By Configuration:
• Amphibious
• Non-Amphibious
• Infantry Fighting Vehicle Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Thailand
• Indonesia
• Australia
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• Netherlands
• Russia
• Poland
• South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• Iran
• Israel
• UAE
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global infantry fighting vehicle market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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