Main Battle Tank Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Main Battle Tank Market is segmented by Geography.

Market Snapshot

Main Battle Tank Market Size
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Europe
Largest Market: Europe
CAGR: >3 %
Main Battle Tank Market Key Players

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Market Overview

The main battle tank market is expected to register a CAGR of over 3% during the forecast period (2020-2025). 

  • Procurements of main battle tanks (MBTs) are expected to be high during the forecast period. 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.
  • An increase in investments in the MBTs is also due to the aging fleet of the MBTs. In this regard, countries are pouring down more investments into the procurements of new generation MBTs to replace the older ones.
  • The new versions of MBTs cost about 4-5 times less than the most western MBTs. Moreover, their low weight and reduced operating costs are influencing the procurement decisions of the militaries, to procure them in large quantities.
  • The market is currently driven by the increasing procurement of tanks by various countries, like Hungary, Russia, Thailand, France, and Germany. The demand is expected to be high, especially from these countries during the forecast period.

Scope of the Report

The report includes the procurement of new MBTs, as well as, the upgrade of the existing battle tanks.

North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of-Middle East and Africa

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Key Market Trends

Development of New Generation Main Battle Tanks to Drive the Market

Many countries are developing advanced new generation main battle tanks to equip their militaries. Examples of battle tanks manufactured for certain countries include the T-90MS and T-14 Armata for Russia, M1A2 SEP V3 for the US, the Leopard 2A7 for Germany, the VT4 (MBT-3000) and Type 99 (ZTZ99) for China, the Challenger 2 “Black Night” for the UK, the Leclerc XLR for France, the "Leoclerc" EMBT for France and Germany, the Altay for Turkey, the K2 Black Panther for South Korea, the TAM 2IP for Argentina, the Type 10 for Japan, the Karrar for Iran, and the Merkava IV Barak / Merkava IV M Windbreaker for Israel. Additionally, there are many plans to manufacture indigenous new generation tanks by many countries, like India, which is manufacturing the Arjun Tanks. Research is also in progress to develop and deploy unmanned battle tanks by countries, like Russia and China. All these next-generation battle tanks may cater to the modernization needs of the militaries, thereby helping the growth of the market in the years to come.

Main Battle Tank Market Share

Europe to be the Fastest Growing Market for Main Battle Tanks

Unlike most countries, that focus on the procurement of other types of armored vehicles, excluding the main battle tanks, countries in Europe are focusing on the procurement of new main battle tanks and the modernization of their existing MBT fleet. Countries in the region, like France and Germany, are collaborating together to produce the next generation MBTs. Moreover, Russia is adding thousands of MBTs to its fleet inventory. 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.

Main Battle Tank Market Growth

Competitive Landscape

General Dynamics Corporation, BAE Systems Plc, Hyundai Rotem, Rostec, and Nexter group KNDS are some of the major players in the main battle tanks market. Strategic partnerships between the players may enable the transfer of technology between the players and help them to gain a higher market share by attracting new customers. For instance, Germany's Krauss-Maffei Wegmann GmbH and France's Nexter Systems have collaborated together to produce next-generation battle tanks that would replace the Leopard 2 Tanks of Germany. Such partnerships may help to boost the growth of the revenues of the players.

Recent Development

In Novemebr 2021, Rafael Advanced Defense Systems has forged a partnership with Germany-based Krauss-Maffei Wegmann and Spain-based General Dynamics European Land Systems to help market the Trophy active protection system in Europe.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Geography

      1. 5.1.1 North America

        1. United States

        2. Canada

      2. 5.1.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Rest of Europe

      3. 5.1.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.1.4 Latin America

        1. Brazil

        2. Mexico

        3. Rest of Latin America

      5. 5.1.5 Middle-East and Africa

        1. United Arab Emirates

        2. Saudi Arabia

        3. Turkey

        4. Rest of-Middle East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 General Dynamics Corporation

      2. 6.2.2 BAE Systems plc

      3. 6.2.3 BMC

      4. 6.2.4 Hyundai Rotem Co

      5. 6.2.5 Nexter group KNDS

      6. 6.2.6 Rheinmetall AG

      7. 6.2.7 Israel Military Industries

      8. 6.2.8 Mitsubishi Heavy Industries Ltd

      9. 6.2.9 Norinco Private Limited

      10. 6.2.10 DRDO

      11. 6.2.11 Rostec


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Frequently Asked Questions

The Main Battle Tank Market market is studied from 2018 - 2027.

The Main Battle Tank Market is growing at a CAGR of >3% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

General Dynamics Corporation, BAE Systems plc, Hyundai Rotem, Rostec, Nexter group KNDS are the major companies operating in Main Battle Tank Market.

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