Ground Defense System Market Size, Share, and SWOT Analysis Upto 2024

Posted October 14, 2020 by bisrsrch

Focus on Operation (Manned, Unmanned), Vehicle Type (Combat, Support), System & Application
The global ground defense system market is expected to witness a significant growth during the forecast period 2019-2024 owing to the induction of new fleets and upgradation programs of defense forces across the globe. Additionally, adoption of cutting-edge technologies such as robotics, electric propulsion system, artificial intelligence and Internet of Battle Things (IoBT) among others are changing the landscape of armored vehicles. A rise in the number of terrorist attacks over the last two decades has raised the need for a more advanced network connected combat and support vehicles.

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The growth of the ground defense system market is majorly due to the factors such as the impending need for the modernization of defense forces, strengthening deterrence capability, and rising terrorist activities around the world which has led to a growing demand of ground defense systems. Moreover, the increasing capital expenditure in the field of electric propulsion system, robotics and autonomous combat and support vehicles drive the market of ground defense systems.

On account of growing cross-border conflicts, terrorist activities, and NATO’s defense spending standard, the government and defense forces are focusing on raising defense budget for procurement of advanced combat and support system along with upgradation of old fleets, resulted in the demand for main battle tanks, armored personnel carrier, light tactical vehicle/multi-purpose armored vehicle and amphibious vehicles, among others is growing substantially. Countries such as U.S., U.K., China, India, Japan, Germany, South Korea and Saudi Arabia are actively engaging in new production contracts with private and public defense equipment manufacturing companies.

The increased revenue generated by the manned and unmanned ground vehicles is due to high demand for the modernization of main battle tanks, infantry fighting vehicles and new procurements of armored personnel carriers and UGVs for defense and security applications. Main battle tanks and infantry fighting vehicles are mainly used for combat applications, whereas unmanned ground vehicles are usually used for navigation through tough terrains that are both unsafe and toxic. Unmanned ground vehicles are robotic vehicles that are used in complex environments of military operations, explosives handling, search operations, and intelligence gathering, among others. 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.

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BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

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Bhavya Banga
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BIS Research Inc.
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Categories Defense , News , Research
Tags Ground Defense System Market , Ground Defense System , defense
Last Updated October 14, 2020