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Market research analysts at Technavio predict that the global military fighting vehicles (MFV) market will grow steadily at a CAGR of more than 3% by 2021. The increasing number of territorial conflicts in APAC is identified as one of the primary growth factors for this market. APAC remains disturbed with civil and political unrest between the neighboring countries. Insurgency operations and cross-border firings between India and Pakistan have resulted in several casualties on both sides. To ensure adequate protection and minimal loss of lives, countries are increasing the number of armored infantry carriers for patrol purposes along the border. Increasing tensions at these prime spots have also given rise to increased border patrol and security activities. These rising tensions between bordering APAC countries increases the need for more firepower and combat vehicles in the region.
The incorporation of COTS components is one of the latest trends that will contribute to the growth of this market in the forthcoming years. One of the major areas for utilization of COTS solutions is the smart displays for military land vehicles. The software used for such systems needs to integrate different vetronics displays seamlessly and should also be well-defined for mission-critical applications. The Presagis VAPS XT is one of the widely-used software that engages COTS HMI tool and OpenGL interface and is applicable for different types of displays and touch screens.
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The market is characterized by the presence of a large number of global and regional vendors. With all players competing to gain significant market shares, the competitive environment among the market players is intense. Factors such as the market conditions, government support, and industry developments highly influence the growth of the vendors in this marketspace. To gain a competitive advantage, the vendors have the need to focus on increasing their global footprint and enhancing their product offerings and R&D investments and should also focus on etablishing a strong client base.
The leading vendors in the market are -
The other prominent vendors in the market are BAE Systems, Navistar Defense, NORINCO, Renault Trucks Defense, ST Engineering, and UralVagonZavod (UVZ).
During 2016, the tanks and fighting vehicles accounted for the major shares of the military fighting vehicles market. Factors such as the changing warfare dynamics and the increased need for developments to offer better protection and increased mobility of these vehicles, will contribute to the growth of this market segment in the coming years.
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the military fighting vehicles market throughout the forecast period. The rising insecurity and instability and the increased strengthening of troops with modern armored vehicles, will increase the need for military fighting vehicles in this region.
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This upcoming industry research report on the global military fighting vehicles market offers insights into the key trends and emerging drivers influencing the growth of the aerospace and defense industry. Our market research reports for the aerospace and defense industry follow a meticulous data collection methodology and offer an analysis of various criteria such as market size, growth rate, and the competitive landscape of rapidly growing market segments like defense.
To assess the growth potential and identify key players for this market space, research analysts at Technavio conduct an in-depth qualitative and quantitative research by analyzing factors such as market size, key vendors, technological advancements, and economic trends. This upcoming report on the global military fighting vehicles market also offers an insight into the competitive landscape and covers vendors like General Dynamics Land Systems, Nexter SA, Denel Land Systems, Rheinmetall Landsysteme, Thales, China North Industries Corporation, BAE Hagglunds, and Uralvagonzavod.
This market research report on the global military fighting vehicles market also takes into account the growth of similar market like the global military fire control systems market, which is anticipated to grow at a steady CAGR of over 5% during the forecasted period. Due to the rapid rise in terrorism threats, the growth of this industry might be influenced by the government’s eagerness to implement effective initiatives to counter and combat such threats.
This upcoming industry report on the global military fighting vehicles market also offers insights into fast-growing segments within the aerospace and defense industry, including sectors like aerospace, aerospace components, and aerospace products. Additionally, the report also reveals insights into the changing competitive landscape and gives clients a complete picture of the future course of the defense industry by providing data and insights and covering geographic regions such as the Americas, APAC, and EMEA.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by platform
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Key vendor analysis
PART 12: Appendix
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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