Global Military Tanks Market 2024-2030

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    MILITARY TANKS MARKET

     

    KEY FINDINGS

     

    • Israel’s Rafael Advanced Systems will provide Trophy tank protection systems to Germany for equipping them on the army’s Leopard 2 tanks.
    • Ukraine’s state-owned Ukroboronprom has signed a $86M contract to support and repair Pakistan military’s T-80UD tanks.
    • Russia’s Rosoboronexport unveiled the upgraded version of Armata tank at IDEX-21.
    • The U.S. Army is assessing the next generation “Trophy VPS,” a smaller, lighter, equally-capable variant of Trophy that will provide protection to a broader range of U.S. ground combat vehicles.
    • Turkey’s ASELSAN has won a $38M contract for Serdar Anti-Tank Missile Launching System and Seda Gunshot Detection System.
    • US. Department of Defense announced a contract valued $4.62B to General Dynamics Land Systems for modernized Abrams M1A2 SEPv3 tanks.
    • US. Army awarded Honeywell a contract valued $1.1B for 1500 engines that will power their M1 Abrams series of tanks.

     

    INTRODUCTION TO MILITARY TANKS MARKET

     

    In the wake of several border tension issues and complex political agendas around the world, Military tanks have become the necessity in today’s world.

     

    Countries are pouring down investments into the procurements of newer generation battle tanks to replace old ones.

     

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    The market is however concentrated on both sides with a few producers and buyers fulfilling and creating a major part of the total demand respectively.

     

    General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Textron Inc.are some of the major players in the market. However, the domestic producers are also building third or fourth generation tanks.

     

    MILITARY TANKS MARKET DYNAMICS

     

    The market is currently driven by the increasing procurements of tanks by various countries, like U.S., Hungary, Russia, Thailand, France, and Germany, among others. The demand is expected to be high, especially from these countries during the forecast period.

     

    Unlike most countries which are focusing on the procurement of other types of armoured vehicles excluding the battle tanks, countries in Europe are focusing on the procurement of new battle tanks and the modernization of their existing military tanks fleet.

     

    Countries in the region, like France and Germany are collaborating together to produce the next generation military tanks. Also, Russia is adding thousands of military tanks to its fleet inventory.

     

    As a result of the announcements made by the presidents of the United States and Germany, which had previously been reluctant to supply offensive armoured vehicles to Kiev, Ukraine will now have access to strong new weapons in its fight to regain land that Russia had previously taken.

     

    Both immediately and in the long run, the tanks would “improve Ukraine’s capacity to defend its territory and achieve its strategic objectives.

     

    ” In a sharp reversal from its previously declared attitude, the US has decided to give Ukraine Abrams tanks.

     

    Even while the Biden administration had never completely ruled out the prospect of sending American tanks, US officials stated last week that the 70-ton M-1 Abrams tanks were not the right thing to send at that moment because they are expensive and complex.

     

    Instead, the idea of using tanks has been pushed frequently as a long-term solution, despite arguments from opponents that the time was ripe as Ukraine prepares for the prospect that Russia may gather additional forces and launch a new onslaught.

     

    As his nation readies itself for what is anticipated to be a significant Russian counteroffensive in the spring, Zelensky has repeatedly requested modern tanks from Western partners.

     

    Nevertheless, after a protracted diplomatic effort with Germany, which was clear that it would only deploy its Leopard 2 tanks to Ukraine if the United States offered to give the go-ahead for the shipment of the vehicles.

     

    An entire Ukrainian tank battalion will be made up of the 31 Abrams.

     

    The best tanks in the world are those made by Abrams. A senior administration official noted that the tanks will be purchased with money from the Ukraine Security Assistance Initiative and stated, “This is a fantastic new capacity that Ukraine will be gaining to enhance its long-term defences.

     

    Senior administration officials estimated that it would take months for the Abrams tanks to arrive and that Ukrainian soldiers would need significant training to operate and maintain them.

     

    For the parts needed for the tanks, the US must navigate challenging supply networks. Although Germany’s Leopards will arrive sooner rather than later, the officials indicated the purchase procedure will take months.

     

    The US will launch a “comprehensive training programme” for the Ukrainians on the Abrams in the interim, which will require significant upkeep.

     

    The second person added that the US was also purchasing eight M88 recovery vehicles to “keep the Abrams tanks up and running.

     

    ” Senior US officials explained the decision in speeches prior to the president’s announcement as an investment in Ukraine’s “longer term capabilities,” suggesting the administration expects the currently 11-month-old conflict to last for a very long time.

     

    The new tanks are intended to aid Ukraine in reclaiming area that Russia has captured, particularly the Donbas. According to a government statement, Germany’s objective is to put together two tank battalions for Ukraine, each with Leopard 2 vehicles.

     

    A company of 14 Leopard 2 A6 tanks from the Bundeswehr will be sent by Berlin as a first step, and the Ukrainian operators will soon begin receiving training in Germany.

     

    A spokeswoman for the Ministry of Defence previously told CNN that the German army possesses 320 Leopard 2 tanks, though she did not specify how many of those are combat ready.

     

    To equip Kyiv’s soldiers with a cutting-edge and lethal military machine in front of a potential Russian spring attack, Leopard 2 tanks will be sent to Ukraine.

     

    It will also be a setback for the Kremlin, which has witnessed an expansion of the effort to provide Ukrainian forces with cutting-edge combat gear as the one-year anniversary of Russia’s ground war approaches.

     

    Following its last week commitment to give Kyiv 14 British Army Challenger 2 tanks, the UK has established the precedent for supplying Ukraine with main battle tanks.

     

    MILITARY TANKS MARKET SIZE

     

    Out of approximately 73,000 battle tanks in the world, the top ten countries owning the maximum MBTs own more than 60% of the total.

     

    With Russia on the top with over 15 % ownership, followed by the USA, China, India, Egypt, North Korea, South Korea, Pakistan Turkey, and Ukraine respectively. But numbers alone can’t tell about the strength, some countries out of the whole have more modern MBTs than the rest.

     

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    MILITARY TANKS MARKET SEGMENTATION

     

    NORTH-AMERICA MILITARY TANKS MARKET

    The American military tanks market constitutes approximately a quarter of the global ground vehicles.

     

    The suppliers in the USA are heavily concentrated out of which General Dynamics, BAE Systems, Iveco defense systems constitute more than three-quarters of the total supply of America.

     

    Canada has a similar situation. Other countries like Brazil, Mexico, Chile, and Columbia rely heavily on imports.

     

    EUROPE MILITARY TANKS MARKET

     

    Battle tanks and the modernization of their existing MBT fleet. Countries in the region, like France and Germany, are collaborating to produce the next generation MBTs.

     

    The demand is expected to be generated from the countries, like the United Kingdom, Italy, Finland, France, Germany, Croatia, Poland, Sweden, and Turkey, in the years to come.

     

    All these factors are expected to help the growth of the market in the region during the forecast period.

     

     Such partnerships may help to boost the growth of the revenues of the players.

     

    ASIA-PACIFIC MILITARY TANKS MARKET

     

    This region accounted for the highest market share in the last year. Countries like China and India are the major forces behind this increasing demand of the Asia-pacific region.

     

    Both the countries are importing heavily along with the growth of domestic suppliers.

     

    China North Industries Corporation or NORINCO is a major manufacturer for indigenous defense systems in China with its latest shipments of VT-4 tanks to countries like Pakistan and Nigeria.

     

    India, on the other hand, is set to replace their T-72 MBTs with FRCVs.

     

    Growing cross border tensions with neighbors like Pakistan and China will also drive up the demand of the region. With major companies like DRDO and Ashok Leyland, delivering the third or fourth generation of older tanks.

     

    MIDDLE EAST AND AFRICA MILITARY TANKS MARKET

     

    In the middle east, the major spendings are on upgrading the major the MBTs. Countries like Israel are upgrading their fleets to new modern warfare systems, UAE is Buying APCs from its local manufacturing unit of Emirates defense technology.

     

    The increase in conflicts in Libya, Yemen, the Sinai, and Somalia has expanded the demand of the region at a rapid pace.

     

    The internal instabilities and cross-border conflicts in the region is a major opportunity for defense companies.

     

    Also, Trade fairs like SOFEX in Jordan have been a major push factor in the trade of defense equipment from the western companies, which in turn is the USA majorly.

     

    RECENT CONTRACTS AWARDED IN MILITARY TANKS MARKET

     

    Feb 2021- Ukraine’s state-owned Ukroboronprom has signed a $86 million contract to support and repair Pakistan military’s T-80UD tanks.

     

    Jan 2021- Elbit Systems has won a contract valued nearly $172M to supply light tanks to the Army of a country in Asia-Pacific.

     

    Jan 2021- BAE Systems has signed an extensive mid-life upgrade contract worth more than $500M with the Dutch Defence Materiel Organization (DMO) for the Royal Netherlands Army’s fleet of 122 CV90s, with an option for an additional 19 vehicles.

     

    Dec 2020- Turkey’s ASELSAN has won a $38M contract for Serdar Anti-Tank Missile Launching System and Seda Gunshot Detection System.

     

    Dec 2020- U.S. Department of Defense announced a contract valued $4.62B to General Dynamics Land Systems for modernized Abrams M1A2 SEPv3 tanks.

     

    Dec 2020- U.S. Army awarded Honeywell a contract valued $1.1B for 1500 engines that will power their M1 Abrams series of tanks.

     

    Dec 2020- German Bundeswehr awarded Rheinmetall a contract valued $30M to supply tank ammunition.

     

    Nov 2020- OshoCorp Global is selected by Indian Army for development & supply of Auxiliary Power Unit (APU) of Russian origin T-72 and T-90 Tanks. Project will cost around $190M.

     

    MILITARY TANKS MARKET SIZE

     

    The Main Battle Tank market is expected to grow with a CAGR of over XX% during the forecast period (2022-2027).

     

    Procurements of Military tanks are expected to be high during the forecast period, as their necessity to the ground forces is becoming significantly more, in the wake of several border-related issues and other hostile activities involving the armies as well as political agenda around the world.

     

    MILITARY TANKS MARKET COMPETITIVE LANDSCAPE

     

    General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Textron Inc.are some of the major players in the market. However, the domestic producers are also building third or fourth generation tanks.

     

    The Indian Army today flagged off the 100th K-9 Vajra-T self-propelled artillery gun built by India in cooperation with South Korea.

     

    L&T had in 2017 won the~$600M contract from the Ministry of Defence to supply 100 units of K9 Vajra-T 155 mm/52 calibre tracked self-propelled gun systems to the Indian Army under the Indian government’s “Make in India” initiative.

     

    Russia’s Rosoboronexport unveiled the upgraded version of Armata tank at IDEX-21. The latest T-14 Armata tanks is fitted with new unmanned turret with a 152mm cannon (it currently has a 125mm gun), supersonic sub-calibre armour-piercing projectiles, fuel air explosive munitions, missiles based on the ‘fire and forget and fire again.

     

    The Chinese People’s Liberation Army (PLA) Xinjiang Military Command recently commissioned new Type 15 lightweight main battle tanks.

     

    Type 15 tank has a max speed of 70kmph and range of over 400km. It weighs between 33-36 tons depending on the armor package.

     

    It is armed with 105mm rifled gun with thermal sleeve and fume extractor, 40mm automatic grenade launcher and a 12.7mm machine gun.

     

    Israel Aerospace Industries (IAI) has completed delivery of hundreds of WindGuard radar systems to the U.S. Army for integration onto their Abrams tanks.

     

    The WindGuard (ELM-2133) radar systems were supplied to DRS Land Systems.

     

    Leonardo and Rafael have completed the delivery of Trophy Active Protection Systems (APS) ordered by the U.S. Army for installation on Abrams main battle tanks.

     

    The U.S. Army is assessing the next generation “Trophy VPS,” a smaller, lighter, equally-capable variant of Trophy that will provide protection to a broader range of U.S. ground combat vehicles.

     

    Russia’s Sprut-SDM1 light amphibious tank has passed tests in the sea and in subtropics. The tank will be used by airborne troops.

     

    It is built by specialists from the Volgograd machine-building company VgTZ and Kurganmashzavod, which are part of the Rostec’s High-Precision Complexes holding.

     

    Uralvagonzavod has delivered a batch of T-72B3 tanks to the Russian military. The tank is equipped with an NBC protection system, night vision equipment, satellite navigation system GLONASS, laser warning system, laser range finder and automatized fire control system.

     

    T-72B3 has Sosna-U multichannel sights and is powered by reinforced engines over 1,000 p.s.

     

    India’s state-run Defense Research and Development Organisation (DRDO) test-fired a laser-guided anti-tank guided missile (ATGM) from MBT Arjun tank.

     

    MILITARY TANKS MARKET COMPANY PROFILES

    1.  Mahindra & Mahindra Limited
    2. Otomotiv Sanayi ve Ticaret AŞ
    3. STREIT Group
    4. NIMR Automotive LLC
    5. BMC
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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