Ground Defense System Market Outlook and Forecast 2024


Posted October 22, 2020 by bisrsrch

Focus on Operation (Manned, Unmanned), Vehicle Type (Combat, Support), System & Application
 
The ground defense system market has witnessed different market dynamics across various regions of the globe. Moreover, the key ground defense system manufacturing companies have witnessed a rising demand from countries such as the U.S., the U.K., China, and India. The global ground defense system industry is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the ground defense system industry exhibits an inclination toward emerging strategies and developments by market players.

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The key players that are actively participating in the ground defense system market include BAE Systems (U.K.), QinetiQ (U.K.), Elbit Systems Ltd. (Israel), IVECO DEFENCE VEHICLES (U.K.), Denel Land Systems (South Africa), Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Navistar Defense (U.S.), Oshkosh Defense (U.S.), Rheinmetall AG (Germany), Israel Aerospace Industries (Israel), General Dynamics Corporation (U.S.), Harris Corporation (U.S.), Clearpath Robotics Inc. (Canada), FLIR Systems Inc. (U.S.), and Thales Group (France), among others.

The prominent players in the ground defense system market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts and other strategies to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion. Due to the intensive competition, the ground defense system industry requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants, which aim to develop next-generation solutions in adherence with the existing and forthcoming industry standards for various end user applications. The market is likely to grow rapidly with the innovations in the fields of artificial intelligence, machine learning, robotics and autonomous unmanned vehicles which offer longer endurance and higher efficiency.

Countries across the globe are actively increasing their defense spending for modernizing their defense systems by procurement defense-related products and services. Demand for upgradation of tanks, multi-purpose armored vehicles, unmanned ground vehicles and other defense vehicles generate huge interest. The increase in defense budget of various countries such as the U.S., India, Russia, China, Saudi Arabia, South Korea, and South Africa is the key driver for defense modernization program for strengthening their defense forces. Moreover, in order to strengthen the defense forces, the increased demand for defense and security application such as combat operation, logistics and transportation, explosive ordinance disposal, mine clearance, search & rescue, engineering and recovery support is expected to aid in the growth of global ground defense system market.

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Additionally, changing geopolitical situations, military interventions, and outbreak of new conflicts give rise to a need for advanced & sophisticated defense vehicles for handling the critical situations. Geopolitical conditions and nature of warfare have made the countries devise various forms of strategies to keep their militaries prepared for the security challenges. With the Middle East currently in political turmoil, Asia-Pacific, followed by Africa, are becoming the next hubs of global economic growth focusing majorly on the modernization programs. New defense policies in Asia-Pacific and North America region focuses on modernizing the ground defense vehicles through manned and unmanned platforms. The U.S. military is helping Asia-Pacific for rebalancing their defense forces, and its economic resources which can largely strengthen the partnership and alliance of both the regions.

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Contact Email [email protected]
Issued By BIS RSRCH
Country United States
Categories Defense , News , Technology
Tags Ground Defense System Market , Ground Defense System Market Size , Ground Defense System Market Share , Ground Defense System Market Trends , Ground Defense System Market Forecast , Ground Defense System Market Analysis
Last Updated October 22, 2020