What is the present valuation and projected CAGR of the land based defense equipment market?
The land based defense equipment market size has grown strongly in recent years. It will grow from $47.15 billion in 2024 to $51.04 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growth in military budgets, geopolitical tensions, threat landscape, strategic alliances, operational requirements.
The land based defense equipment market size is expected to see strong growth in the next few years. It will grow to $66.05 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to emerging threats, budget allocations, global security environment, international collaboration, modernization strategies. Major trends in the forecast period include cybersecurity concerns, technological innovations, technology advancements, electrification and hybridization, unmanned systems and robotics.
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What are the top drivers to the rising demand in the land based defense equipment market?
The overall economic growth of the emerging economies is expected to positively impact the land-based defense equipment market. Rising disposable income, a result of economic growth in emerging markets, had a positive impact on the demand for defense equipment. For instance, in September 2024, according to the India Development Update (IDU), a publication from the World Bank, a US-based international development organization, India, having grown at a remarkable rate of 8.2 percent in FY23/24, is projected to maintain strong growth at 7 percent in FY24/25 and continue this trend in FY25/26 and FY26/27. Thereby driving the sea-based defense equipment market during the forecast period.
How is the land based defense equipment market segmented?
The land based defense equipment market covered in this report is segmented –
1) By Type: Armored Vehicles, Missiles, Tanks, Small Arms and Light Weapons
2) By Operation: Autonomous Land based Defense Equipment, Manual
3) By Application: Military, Law Enforcement
Subsegments:
1) By Armored Vehicles: Infantry Fighting Vehicles (IFVs), Armored Personnel Carriers (APCs), Mine-Resistant Ambush Protected (MRAP) Vehicles, Armored Cars And Transport Vehicles
2) By Missiles: Anti-Tank Guided Missiles (ATGMs), Surface-To-Air Missiles (SAMs), Tactical Ballistic Missiles, Cruise Missiles
3) By Tanks: Main Battle Tanks (MBTs), Light Tanks, Armored Reconnaissance Vehicles, Tank Destroyers
4) By Small Arms And Light Weapons: Rifles, Submachine Guns, Shotguns, Light Machine Guns (LMGs), Handguns, Grenades And Launcher Systems
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Who are the top competitors in the land based defense equipment market?
Major companies operating in the land based defense equipment market include China North Industries Group Corporation Limited, Raytheon Company, Lockheed Martin Corporation, Hanwha Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, Thales Group, Leonardo S.p.A., Oshkosh Corporation, Science Applications International Corporation (SAIC), Rheinmetall AG, Elbit Systems Ltd., Larsen & Toubro Limited, Bharat Electronics Limited, Hyundai Rotem Company, Uralvagonzavod, RUAG Group, IVECO Defence Vehicles, Nexter Group, Patria Oyj, FNSS Savunma Sistemleri A.S., Navistar Defense LLC, Denel SOC Ltd, Israel Aerospace Industries Ltd., Krauss-Maffei Wegmann GmbH & Co. KG, Otokar Otomotiv ve Savunma Sanayi A.S., Paramount Group, Plasan Sasa Ltd., Rafael Advanced Defense Systems Ltd., Rostec State Corporation, ST Engineering, Tata Motors Limited, Ukroboronprom
What significant trends should we anticipate in the land based defense equipment market over the forecast period?
CornerShot rifles are increasingly being used in the defense industry. CornerShot weapons have a steel hinge that allows the gun’s frame to bend around the corner to attack the target without exposing themselves. These rifles help shooters navigate around corners via a high-resolution camera and LCD monitor. The corner-shot rifles are widely used inside armored vehicles and tanks, on a turret up top, which will allow for a full 360-degree field of cover while the triggerman remains safely inside the vehicle. The weapon is accurate and effective up to 100 to 200 meters, depending on the type of weapon. Corner Shot removes the need for this initial exposure.
Which regional trends are influencing the land based defense equipment market, and which area dominates the industry?
The countries covered in the land based defense equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Land based Defense Equipment Market Report 2025 Offer?
The land based defense equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The land-based defense equipment refers to support and auxiliary equipment used for land-based defense operations such as weapons. The land-based defense equipment includes components and subcomponents such as turrets and ROWS, cannons and missiles, armor packages, and active protection systems.
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