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Lucintel Forecasts Higher Growth For Global Defense Land Vehicle Industry
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The global defense land vehicle industry comprises battle tanks, armored combat vehicles and personnel carriers, infantry fighting vehicles, artillery, tactical vehicles, and other armored protective vehicles. The industry is highly consolidated in terms of suppliers as well as buyers and is highly dependent on government spending.The industry is forecast to reach an estimated $32.7 billion by 2020 at a CAGR of 1.3% over the next eight years (2013-2020). Continued uncertainty in global affairs, threat of terrorism, and instability in the Middle East will influence the purchase of defense land vehicles over the long run.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis of the industry and presents its findings in “Global Defense Land Vehicle Industry 2013-2020: Trend, Profit, and Forecast Analysis.”The North American region dominates the industry and represents the maximum industry share. The industry is witnessing some emerging trends such as unmanned ground vehicle systems and stealth technology in land systems.
Lucintel’s report provides a brief overview of the industry’s challenges. The global defense land vehicle industry is consolidated with the top five and top 10 players accounting for approximately 79% and 94%, respectively, in 2012.This industry is dependent on government spending, and government policies and regulations pose a challenge to the industry. Uncertainty of fund allocations in government budgets also affects this industry.
In addition to theindustry’s challenges, the study highlights on the growth drivers. Globally, thewar against terrorism is a priority for most governments, leading them to increase their homeland security capabilities. Another growth driver is the growing defense budgets of ROW and APAC countries. Increased demand for armed protective vehiclesfor civil security personnel is another industry growth driver.
This market report is an indispensable reference guide for defense land vehicle manufacturing companies, engineers working in this industry, investors, and many more that operate in theindustry. To make business, investment, and strategic decisions, timely, useful information is needed, which is fulfilled by this market report. Lucintel offerings include Defense Market Research, MRO Market Report, Strategic Growth Consulting and Capital Investment Analysis.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at firstname.lastname@example.org. Lucintel’s Opportunity Screening and Business Strategy Consulting services have supported decision makers in achieving their growth objectives.
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