Main Battle Tank Market Outlook – 2027
Main battle tanks are considered as one of the key components in modern armies. The main battle tank is a tank that fills the maneuver role and armor-protected direct fire role of many modern armies. Growth in national security concerns is urging the nations to bolster their military strength by acquiring advanced battle tanks and constantly upgrading their existing warfare equipment. Modern main battle tanks are organized into armored units and operate with the support of infantry. In addition, modern battle tanks are deployed in warzones and supported by surveillance or ground aircraft. Thus, MBTs (Main Battle Tanks) are considered as infantry fighting vehicles.
COVID-19 Scenario Analysis:
- The main battle tank production is going to be more agile after the end of COVID-19.
- The supply chain disruption is expected to affect the future growth of the companies due to lockdown.
- The revenue is not being generated for the companies due to the ongoing pandemic, which will result in major losses across the year.
- Companies have to deal on a significant margin basis to revive the market.
- A huge monetary loss has been accounted for in the revenue generation of the Main battle tank companies due to the lockdown.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The global main battle tank market has been witnessing significant demand from the armed forces due to increasing border-related issues, aiming at the nations and several other hostile activities taking place. In addition, rise in military budgets is proliferating the demand for main battle tanks in the global market. Consistent technological advancements have resulted in lightweight and less costly weapons, which in turn drives the demand for main battle tanks. Factors such as growth in security concerns, increase in military budget, and constants improvements in weapon performance are anticipated to boost the growth of the global main battle tank market.
The global main battle tank market trends are as follows:
Increase in defense budget to boost the demand
Main battle tanks are considered as an eminent component of military warfare. Moreover, these tanks can be used to fight as well as a patrol in the warzones. The warfare capabilities of battle tanks make it essential for armed forces of various nations to acquire these armored vehicles. Furthermore, the government organizations are increasing the defense budgets to bolster the military strength of the nations, which in turn propel the growth of the global main battle tank market. Growing political tensions and rising security threat are anticipated to create opportunities for the market. In addition, deploying main battle tanks provide advantageous benefits in comparison to other warfare equipment. Therefore, such factors are anticipated to boost the demand for main battle tanks in the global market.
Technological advancements to foster growth
Technology plays a vital role in bolstering the military strength of any nation. Technological advancements improve the deficiency of military warfare by simultaneously reducing costs. Moreover, with the up-gradation of technology, major market players have developed advanced main battle tanks that are lighter in weight than the conventional tanks. In addition, the cost of main battle tanks has been significantly reduced by incorporating advanced technology in manufacturing. These factors are expected to broaden the application of main battle tanks and foster growth in the global market.
Key Benefits of the Report:
- This study presents the analytical depiction of the global main battle tank industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global main battle tank market share.
- The current market is quantitatively analyzed to highlight the global main battle tank market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global main battle tank market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Main Battle Tank Market Research Report:
- Which are the leading market players active in the Main battle tank market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Main Battle Tank Market Report Highlights
Key Market Players
Hyundai Rotem, BMC, Nexter Systems, Rheinmetall AG, BAE Systems plc., Mitsubishi Heavy Industries, Defence Research And Development Organisation, Krauss-Maffei Wegmann GmbH & Co. KG, Israel Military Industries, General Dynamics Corporation