GlobalData’s latest report predicts substantial growth in the global military land vehicles market, fuelled by increasing cross-border conflicts and the military assertiveness of certain nations.
As countries seek to strengthen their military capabilities, advanced technologies and features such as Active Protection Systems (APS) and superior ceramic armour are expected to enhance vehicle survivability and protection against modern threats, as major militaries are inducing next-generation vehicles.
GlobalData, a leading data and analytics company, has released its latest report titled “Global Military Land Vehicles Market 2023–2033,” which predicts that the global military land vehicles market will reach a value of $31.3bn by 2033, growing at a compound annual growth rate of 4.2% between 2023 and 2033.
The ongoing conflicts, such as the Russia-Ukraine war and border disputes between India-Pakistan and India-China, have prompted countries worldwide to invest significantly in strengthening their military land vehicle capabilities.
These investments aim to deter potential adversaries and ensure the safety and security of their borders.
Aamir Chowdry, Aerospace and Defense Associate Analyst at GlobalData, highlights the importance of technological advancements in military land vehicles.
He explains, “The integration of unmanned turrets, remotely controlled weapon stations, and micro-unmanned aerial vehicles (UAVs), along with increased automation in Main Battle Tanks and Infantry Fighting Vehicles, will significantly improve combat capabilities and crew safety.
The use of advanced sensors, fire control, and target acquisition systems further enhances situational awareness and operational effectiveness on the battlefield.”
According to the report, the European region will dominate the global military land vehicles market in the forecast period. Amid the Russia-Ukraine conflict, several European countries are bolstering their military capabilities through various land vehicle procurement programs.
The United Kingdom is procuring different variants of Ajax vehicles while upgrading its Challenger 2 tanks to the Challenger 3 standard. Similarly, France and Germany are replacing their Leclerc and Leopard 2 tanks through the Main Ground Combat System (MGCS) program.
Poland is also enhancing its offensive capabilities by procuring the M1A1 Abrams tank.
Chowdry concludes by emphasizing the future advancements in military land vehicles, stating, “Due to rapid technological advancements, future military land vehicles are expected to feature integrated digital battlefield management systems, advanced sensors, and network-centric warfare capabilities, with a focus on survivability and teaming ability with unmanned ground and aerial systems.”
As tensions continue to rise and countries prioritize military modernization, the global military land vehicles market is set for substantial growth.
The demand for advanced capabilities, improved survivability, and enhanced combat effectiveness will drive investments in military land vehicles, ensuring the readiness and deterrence of armed forces worldwide.