PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324322
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324322
Main Battle Tank Market Forecasts to 2030 - Global Analysis By Component (Situational Awareness, Weaponry Systems, Turret System, Wheel & Tracks, Internal Combustion Engine and Other Components), Type, Solution, Application and By Geography
According to Stratistics MRC, the Global Main Battle Tank Market is accounted for $5.82 billion in 2023 and is expected to reach $10.58 billion by 2030 growing at a CAGR of 8.9% during the forecast period. A direct-fire and manoeuvrable armoured vehicle makes up a main battle tank (MBT). A decade ago, MBT established itself as a key combat element. Land forces used a combination of heavy, medium, and light tank types to meet a variety of requirements during the fight. A single design for the MBT conception can produce the same outcomes. Engineers created a new fighting machine that has stayed reliant on contemporary armies with the introduction of more lightweight compound armour. It can typically operate in a variety of terrains and combat conditions and is typically outfitted with a potent gun, sophisticated fire control systems, and armour protection.
According to the U.S. army, the total contract was around USD 1.14 billion, and the military is expected to deliver the first batch by 2025. According to the U.S. army, the armed forces, engineers, and scientists are developing technology prototypes manufactured as part of the Advanced Targeting and Lethality Aided System (ATLAS) program.
Market Dynamics:
Driver:
Increasing procurement of MBTs
The government is purchasing a large number of main battle tanks for border defence on the front lines due to the rise in border-related disputes between rising nations. In response to escalating geopolitical tensions, nations are building new generation tanks to outfit their armed forces. The main market for this tank is the armed forces of several large countries. In addition to the healthy tank market, they also have a strong customer base outside, which is fueling market expansion.
Restraint:
A rising market for sophisticated anti-tank missile systems
Guided missiles known as anti-tank missiles (ATMs) are primarily intended to damage or destroy heavily armoured vehicles like tanks. They are guided missiles using different guiding algorithms, such as laser and wire guidance. They require little training to use, are comparatively light, and may be employed by a single soldier. The expansion of the industry is being hampered by the fact that they are highly delicate to detect and light enough to take anyplace in difficult situations.
Opportunity:
Increase in defence budget
A crucial element of military warfare is said to be main battle tanks. These tanks can also be deployed to patrol and combat in conflict areas. It is crucial for the armed forces of many nations to acquire these armoured vehicles due to the battle tank's combat capability. In addition, government agencies are raising defence spending to strengthen national militaries, which in turn is fueling the expansion of the world market for main battle tanks.
Threat:
Environmental concerns
The notoriously high fuel consumption and pollution output of main combat tanks. As environmental concerns expand, pressure is mounting on governments and defence organisations to reduce their carbon footprint. International agreements and strict legislation usually regulate the export of main battle tanks. These limitations may restrict the possibility for expansion for tank manufacturers because they find it difficult to secure export contracts.
COVID-19 Impact:
The COVID-19 epidemic had an effect on the main battle tank market, as it did on many other sectors of the economy. Global supply chains, manufacturing processes, and defence spending were all affected by the pandemic. Delays in procurement programmes were brought about by lockdowns and travel restrictions that interfered with manufacturing and delivery timelines. However, because governments placed a high priority on national security and defence readiness, the defence industry showed to be relatively resilient during the epidemic. Many nations kept or boosted their defence budgets, assuring the continuation of major battle tank programmes.
The medium tanks segment is expected to be the largest during the forecast period
The medium tanks segment is estimated to have a lucrative growth, due to increasing demand for IC engines for new and older versions of MBT for upgrading. By providing a balance between firepower and mobility, medium tanks fill the space between MBTs and light tanks. They are adaptable and can be used in many operational settings. Before launching an attack with heavy equipment or infantry assistance, mediums may use their speed or design qualities for reconnaissance to learn the whereabouts of the adversary.
The fighting segment is expected to have the highest CAGR during the forecast period
The fighting segment is anticipated to witness the fastest CAGR growth during the forecast period. Main Battle Tanks' primary purpose is to destroy their targets by getting beyond an opponent's defences. This kind of tank features a powerful gun, thick armour protection, and excellent battlefield mobility. However, because of improvements in anti-tank missile technology and the vulnerability of these tanks to missiles launched at longer ranges, armed forces are less likely to utilise them.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing demand for MBTs due to their profitability and affordability compared with other military vehicles. The main battle tanks development and upgrading are to blame for the increasing growth. The sector is also predicted to expand during the projection period as a result of the region's extensive battle tanks export to other countries.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the demand for battle tanks is increasing. These countries have a history of creating and using armoured vehicles for military missions, and also have superior tank technologies. Additionally, leading market companies have created upgraded main battle tanks that are lighter than traditional tanks as a result of technological advancements. Additionally, the current fleet is anticipating market expansion by upgrading to the following generation.
Key players in the market:
Some of the key players profiled in the Main Battle Tank Market include: Rostec, Hyundai Rotem, Nexter group KNDS, General Dynamics Corporation, BAE Systems plc, Krauss-Maffei Wegmann GmbH & Co. KG, Israel Military Industries, Nexter Systems, Defence Research And Development Organisation, Rheinmetall AG, Mitsubishi Heavy Industries, Malyshev Factory, Uralvagonzavod, Daimler AG, Thales Group, Textron, Lockheed Martin Corporation, International Armored Group, INKAS Armored Vehicle Manufacturing and Ford Motor Company.
Key Developments:
In May 2023, Hyundai Rotem to produce more K2 tanks for ROK Armed Forces. The South Korean Defense Acquisition Program Administration (DAPA) has approved the production plan for the fourth batch of K2 Black Panther main battle tanks intended for the ROK Armed Forces.
In February 2023, German defense contractor Rheinmetall AG is in talks to supply Ukraine with its most sophisticated battle tanks and fighting vehicles to help the country defend itself against future threats, according to Chief Executive Officer Armin Papperger.
Components Covered:
- Situational Awareness
- Weaponry Systems
- Turret System
- Wheel & Tracks
- Internal Combustion Engine
- Other Components
Types Covered:
- Heavy
- Medium
- Light
- Other Types
Solutions Covered:
- Retro Fit
- Line Fit
Applications Covered:
- Fighting
- Patrolling
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Main Battle Tank Market, By Component
- 5.1 Introduction
- 5.2 Situational Awareness
- 5.3 Weaponry Systems
- 5.4 Turret System
- 5.5 Wheel & Tracks
- 5.6 Internal Combustion Engine
- 5.7 Other Components
6 Global Main Battle Tank Market, By Type
- 6.1 Introduction
- 6.2 Heavy
- 6.3 Medium
- 6.4 Light
- 6.5 Other Types
7 Global Main Battle Tank Market, By Solution
- 7.1 Introduction
- 7.2 Retro Fit
- 7.3 Line Fit
8 Global Main Battle Tank Market, By Application
- 8.1 Introduction
- 8.2 Fighting
- 8.3 Patrolling
- 8.4 Other Applications
9 Global Main Battle Tank Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 Rostec
- 11.2 Hyundai Rotem
- 11.3 Nexter group KNDS
- 11.4 General Dynamics Corporation
- 11.5 BAE Systems plc
- 11.6 Krauss-Maffei Wegmann GmbH & Co. KG
- 11.7 Israel Military Industries
- 11.8 Nexter Systems
- 11.9 Defence Research And Development Organisation
- 11.10 Rheinmetall AG
- 11.11 Mitsubishi Heavy Industries
- 11.12 Malyshev Factory
- 11.13 Uralvagonzavod
- 11.14 Daimler AG
- 11.15 Thales Group
- 11.16 Textron
- 11.17 Lockheed Martin Corporation
- 11.18 International Armored Group
- 11.19 INKAS Armored Vehicle Manufacturing
- 11.20 Ford Motor Company
List of Tables
- Table 1 Global Main Battle Tank Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 3 Global Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 4 Global Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 5 Global Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 6 Global Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 7 Global Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 8 Global Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 9 Global Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 10 Global Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 11 Global Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 12 Global Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 13 Global Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 14 Global Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 15 Global Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 16 Global Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 17 Global Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 18 Global Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 19 Global Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 20 Global Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 21 North America Main Battle Tank Market Outlook, By Country (2021-2030) ($MN)
- Table 22 North America Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 23 North America Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 24 North America Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 25 North America Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 26 North America Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 27 North America Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 28 North America Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 29 North America Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 30 North America Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 31 North America Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 32 North America Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 33 North America Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 34 North America Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 35 North America Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 36 North America Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 37 North America Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 38 North America Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 39 North America Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 40 North America Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 41 Europe Main Battle Tank Market Outlook, By Country (2021-2030) ($MN)
- Table 42 Europe Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 43 Europe Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 44 Europe Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 45 Europe Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 46 Europe Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 47 Europe Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 48 Europe Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 49 Europe Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 50 Europe Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 51 Europe Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 52 Europe Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 53 Europe Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 54 Europe Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 55 Europe Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 56 Europe Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 57 Europe Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 58 Europe Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 59 Europe Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 60 Europe Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 61 Asia Pacific Main Battle Tank Market Outlook, By Country (2021-2030) ($MN)
- Table 62 Asia Pacific Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 63 Asia Pacific Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 64 Asia Pacific Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 65 Asia Pacific Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 66 Asia Pacific Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 67 Asia Pacific Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 68 Asia Pacific Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 69 Asia Pacific Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 70 Asia Pacific Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 71 Asia Pacific Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 72 Asia Pacific Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 73 Asia Pacific Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 74 Asia Pacific Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 75 Asia Pacific Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 76 Asia Pacific Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 77 Asia Pacific Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 78 Asia Pacific Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 79 Asia Pacific Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 80 Asia Pacific Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 81 South America Main Battle Tank Market Outlook, By Country (2021-2030) ($MN)
- Table 82 South America Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 83 South America Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 84 South America Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 85 South America Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 86 South America Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 87 South America Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 88 South America Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 89 South America Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 90 South America Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 91 South America Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 92 South America Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 93 South America Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 94 South America Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 95 South America Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 96 South America Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 97 South America Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 98 South America Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 99 South America Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 100 South America Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 101 Middle East & Africa Main Battle Tank Market Outlook, By Country (2021-2030) ($MN)
- Table 102 Middle East & Africa Main Battle Tank Market Outlook, By Component (2021-2030) ($MN)
- Table 103 Middle East & Africa Main Battle Tank Market Outlook, By Situational Awareness (2021-2030) ($MN)
- Table 104 Middle East & Africa Main Battle Tank Market Outlook, By Weaponry Systems (2021-2030) ($MN)
- Table 105 Middle East & Africa Main Battle Tank Market Outlook, By Turret System (2021-2030) ($MN)
- Table 106 Middle East & Africa Main Battle Tank Market Outlook, By Wheel & Tracks (2021-2030) ($MN)
- Table 107 Middle East & Africa Main Battle Tank Market Outlook, By Internal Combustion Engine (2021-2030) ($MN)
- Table 108 Middle East & Africa Main Battle Tank Market Outlook, By Other Components (2021-2030) ($MN)
- Table 109 Middle East & Africa Main Battle Tank Market Outlook, By Type (2021-2030) ($MN)
- Table 110 Middle East & Africa Main Battle Tank Market Outlook, By Heavy (2021-2030) ($MN)
- Table 111 Middle East & Africa Main Battle Tank Market Outlook, By Medium (2021-2030) ($MN)
- Table 112 Middle East & Africa Main Battle Tank Market Outlook, By Light (2021-2030) ($MN)
- Table 113 Middle East & Africa Main Battle Tank Market Outlook, By Other Types (2021-2030) ($MN)
- Table 114 Middle East & Africa Main Battle Tank Market Outlook, By Solution (2021-2030) ($MN)
- Table 115 Middle East & Africa Main Battle Tank Market Outlook, By Retro Fit (2021-2030) ($MN)
- Table 116 Middle East & Africa Main Battle Tank Market Outlook, By Line Fit (2021-2030) ($MN)
- Table 117 Middle East & Africa Main Battle Tank Market Outlook, By Application (2021-2030) ($MN)
- Table 118 Middle East & Africa Main Battle Tank Market Outlook, By Fighting (2021-2030) ($MN)
- Table 119 Middle East & Africa Main Battle Tank Market Outlook, By Patrolling (2021-2030) ($MN)
- Table 120 Middle East & Africa Main Battle Tank Market Outlook, By Other Applications (2021-2030) ($MN)
