Report: Global military land vehicles market to reach $31.3 billion in 2033

Escalating cross-border conflicts and the heightened military assertiveness of certain nations are the primary factors driving the demand for military land vehicles worldwide.

For instance, ongoing conflicts like the Russia-Ukraine war, and border disputes between India-Pakistan and India-China, have prompted countries to make significant investments in strengthening their military land vehicle capabilities to deter potential adversaries. Against this backdrop, the global military land vehicles market is forecast to reach $31.3 billion in 2033, according to GlobalData, a data and analytics company.

GlobalData’s latest report, “Global Military Land Vehicles Market 2023–2033,”reveals that the market will grow at a compound annual growth rate (CAGR) of 4.2% between 2023 and 2033. Major militaries worldwide are inducting next-generation vehicles featuring advanced technologies such as Active Protection Systems (APS) and superior ceramic armour. These advancements provide enhanced vehicle survivability and multi-layered protection against modern threats such as rocket-propelled grenades (RPGs) and improvised explosive devices (IEDs).

Aamir Chowdry,  Aerospace and Defense  Associate Analyst at GlobalData, comments: “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.”

The European region is anticipated to dominate the global military land vehicles market over the forecast period. Amidst the Russia-Ukraine conflict, several countries in Europe are currently strengthening their military capabilities by undertaking various land vehicle procurement programs. The UK is procuring different variants of Ajax vehicles, along with 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 procuring the M1A1 Abrams tank to improve its offensive capabilities.

Chowdry concludes: “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.”