Persistence Market Research has announced the addition of the “Military Land Vehicles Market: Global Industry Analysis and Forecast to 2015 to 2021" report to their offering
New York, NY -- (SBWIRE) -- 07/31/2018 -- Land military is one of the basic forms of border defense of a country. Military land vehicles have been growing at a rapid pace due to increasing purchases by the emerging economies with large population who need increased land-protection. However, the military land vehicles market is expected to grow at a sluggish rate in the short term due to austerity in several major markets. The economic slowdown in Europe is another factor for the low growth in the short term. The traditional markets for military land vehicles such are the U.S. are mostly up-grading and maintaining their existing military fleets rather than replacing them with the new ones.
The expected cuts in the U.S. vehicle programs are expected to lead to a slowdown of military land vehicles market in the region in the short term. The major land military vehicles of the U.S. include Stryker program, MI I3 replacement, Abrams/Bradley/Paladin Capability enhancement, Ground Combat Vehicle JLTV and FMTV. The major land vehicles owned by other countries include FRES, OUVS, Warrior & Challenger (the U.K.), Boxer (Netherlands), Future AIFV (Spain), PUMA AIFV (Germany), Freccia (Italy), Strategic Military Program (Brazil), Altay MBT (Turkey), K21 AIFV and K2 MBT (South Korea), Abrams Tank up-gradation (Iraq), Future MBT and Abhay (India), Land 121 and Project Overlander (Australia), Project Vistula, Sepula, Hoefyster (South Africa), TSS MBT up-gradation (Peru) and Main battle tank (Columbia) .
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The asymmetric warfare and increasing operation pressures are compelling the governments to focus on new breed of military land vehicles with focus on mobility and transportation, propulsion, transportability, interoperability with other elements, logistics footprint and lifetime cost. The increasing need for agile and efficient vehicles is driving the market for lightweight and hybrid military land vehicles. The U.K. which played significant role in Iraq and Afghanistan operation faced a defense budget deficit of USD 60billion post operation which led to an aggressive Strategic Defense and Security Review (SDSR) to recover from this. The legacy vehicles in France including AMX-10 RC, VAB and ERC-90 are to be replaced by VBMR and EBRC vehicles.
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The governments in the western countries are practicing lean military force and are therefore downsizing their armed forces. However, they are replacing their cold-war era equipments and investing in new technologies. The Department of Defense (DOD) in the U.S. is planning to downsize its soldier's strength by 80,000 and the marine corps by 20,000. Among regions, North America dominated global sales followed by Asia Pacific. With the economic recovery of Europe by the mid of the decade the military land vehicles market in the region is expected to grow at a fast pace. Military land vehicles market is consolidated with small number of players operating in the market. The key players in military land vehicles market are General Dynamics, BAE Systems, Oshkosh Corporation, Rheinmetall, ST Engineering and Navistar. The military land vehicle manufacturers are increasing their focus on Asia Pacific and Middle East markets. In the decade 2001-2010, the series of wars led to Urgent Operational Requirements (UORs) where the manufacturers of military land vehicles enjoyed great profits. The present decade mostly features cold war thus marring the scope for UORs. However, any eruption of war can give the military land vehicles industry a skyrocketing growth.