Market Research Future (MRFR) has published on the “Global Defoamers Marke
A Defense Light Tactical Vehicle are specialized motor vehicles designed for military operations. They are built to withstand rugged terrain and adverse conditions, and they often feature enhanced mobility, durability, and sometimes armored protection. They serve a variety of purposes such as troop transport, reconnaissance, and cargo transport and weapons platforms.
The Defense Light Tactical Vehicle market is estimated to register a CAGR of 6.7% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Defense Light Tactical Vehicle market - Oshkosh Defense, Canoo, General Dynamics European Land Systems, BAE Systems, Mahindra Defense Systems, Iveco Defense Vehicles, Rheinmetall AG, and others.
Defense Light Tactical Vehicle Market Highlights
Global Defense Light Tactical Vehicle Market Size was valued at USD 7,348.9 Million in 2022. The Defense Light Tactical Vehicle market industry is projected to grow from USD 7,576.6 Million in 2023 to USD 13,547.3 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period (2023 - 2032).
The Army is actively engaged in the development of an autonomous driving system designed to enhance the functionality of tactical vehicles in challenging operational environments. This initiative, formerly referred to as the Leader-Follower program and now known as the Autonomous Vehicle Transport-System, is envisioned to significantly bolster force protection and sustainment throughput during convoy operations. The system's implementation is poised to reduce troop exposure in vulnerable formations, such as resupply units, thereby mitigating risks to soldiers deployed in combat zones.
During recent discussions at the National Defense Industrial Association’s Tactical Wheeled Vehicle Conference, officials outlined an incremental approach to the system's deployment. They emphasized the importance of gradually integrating teleoperation capabilities while reducing troop presence in convoy formations. This strategy aims to ensure operational flexibility while addressing the complexities of dynamic battlefield scenarios and potential electronic warfare threats posed by adversaries.
The Autonomous Vehicle Transport-System is initially focused on enhancing the capabilities of the M1075 Palletized Load System, with future to transition to the Army’s Common Tactical Truck platform. These vehicles will be equipped with advanced safety features conducive to autonomous operation. Following a successful operational technical demonstration conducted in January, the Army is poised to release a request for proposals in the third quarter of fiscal year 2023. Prototyping awards are anticipated in the fourth quarter, with the objective of deploying 410 systems by fiscal year 2029. This underscores the Army's commitment to leveraging autonomous technologies to optimize logistics operations in contested environments, thereby enhancing mission effectiveness and troop safety.
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Segment Analysis
The global Defense Light Tactical Vehicle market has been segmented based on type, fuel type and application.
Based on Type, the global Defense Light Tactical Vehicle market segmentation includes Pickup Style and SUV Style. The SUV-style segment held the majority share in 2022, contributing around ~72.1% to the market revenue.
Based on Fuel Type, the global Defense Light Tactical Vehicle market segmentation includes Gasoline, Diesel, Electric, & Hybrid. The Diesel segment held the majority share in 2022, contributing around ~77.9% to the market revenue.
Based on the Application, the global Defense Light Tactical Vehicle market segmentation includes Troop Transport, Cargo Transport, Ambulance, Reconnaissance & Surveillance, Others. By Application, Troop Transport segment hold the majority market share in 2022 contributing 73.4% of the market share.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue North America held the largest share of 37% in the Defense Light Tactical Vehicle market in 2022 and is expected to maintain its dominance during the forecast period. North America, a significant regional market for defense light tactical vehicles, is upheld by solid technological developments in military vehicles and rise in cross border activities in the region. Additionally, law enforcement and security agencies are increasingly investing in tactical vehicles to address various threats, including terrorism, drugs smuggling, human trafficking and other organized crime in the region.
Key Findings of the Study
- The global Defense Light Tactical Vehicle market is expected to reach USD 13,547.3 Million by 2032, at a CAGR of 6.7% during the forecast period.
- The North America region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in Asia Pacific, making it the primary contributor to the market share.
- Based on Type, the SUV Style segment was attributed to holding the largest market in 2022, with an approximate market share of 72.1 %.
- Oshkosh Defense, Canoo, General Dynamics European Land Systems, BAE Systems, Mahindra Defense Systems, Iveco Defense Vehicles, Rheinmetall AG, and others are the key market players.
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Companies Covered | 15 |
Pages | 286 |
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