Market Trends of Main Battle Tank Industry
Light Battle Tanks to Witness Highest Growth in the Market During the Forecast Period
- Light tanks are the most maneuverable and fastest of all tank types. They were intended to be deployed in large numbers, typically for frontal breakthroughs that other units could exploit. Light tanks include excellent cross-country mobility, but depending on their design goals, they may sacrifice armor protection or armament firing power. Many countries are developing advanced new-generation main battle tanks to equip their militaries.
- Additionally, many countries are also planning to manufacture indigenous new-generation tanks, 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. For instance, in October 2022, General Dynamics Land Systems (GDLS) started assembling the US Army's Mobile Protected Firepower system, the first new combat vehicle to enter the force in nearly four decades.
- For instance, in June 2022, the US Army selected GDLS to build a light tank to improve mobility, protection, and direct-fire capabilities for infantry brigade combat teams. All these next-generation battle tanks may cater to the modernization needs of the militaries, thereby helping the market's growth in the years to come.
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Europe to Dominate Market Share During the Forecast Period
- Unlike most countries, which focus on procuring other types of armored vehicles, excluding the main battle tanks, European countries focus on procuring new main battle tanks and modernizing their existing MBT fleet.
- Countries in the region, like France and Germany, are collaborating to produce the next generation of MBTs. Moreover, the ongoing war between Russia and Ukraine is one of the driving factors for procuring more combat vehicles. In the coming years, countries like the United Kingdom, Italy, Finland, France, Germany, Croatia, Poland, Sweden, and Turkey are expected to generate demand.
- For instance, in March 2022, Germany started testing their first action-ready models of Leopard 2 A7V two years ago. In February 2022, the first 30-unit group of the most advanced main battle tanks developed in this country joined the military ranks.
- In addition, the Russia/Ukraine war is crucial in anticipating the demand for MBTs near both countries' borders. For instance, in June 2022, the State Department of Poland announced the procurement of the M1A2SEPv3 Abrams battle tank with direct fire and maneuver. The government approved a contract worth USD 6 billion. Under this agreement, Poland will procure 250 tanks and other military equipment as tensions on the eastern flank of Europe remain high over Russian aggression aimed at Ukraine. All these factors are expected to help the market's growth in the region during the forecast period.
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