Global Tanks Market Overview And Prospects

December 10, 2021 by The Business Research Company

Learn about the global tanks market through The Business Research Company, which provides information on tanks market size, tanks market drivers and restraints, tanks market players, the COVID-19 impact on the tanks market, and more.

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The global tanks market is expected to decline from $0.96 billion in 2020 to $0.94 billion in 2021 at a compound annual growth rate (CAGR) of -2.1%. The decline is attributed to the COVID-19 implications including social distancing practices, supply chain disruptions, and halt or closure of production. The tanks market is expected to reach $1.02 billion in 2025 at a CAGR of 2.1%.

The increase in the defence budget for the military is expected to drive innovation in tanks manufacturing, thus driving the market during the forecast period.

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The tanks market consists of sales of military tanks by entities (organizations, sole traders and partnerships) that produce military tanks. A tank is an armoured fighting vehicle which is equipped with heavy firepower and strong armour designed for front line combat. Only goods and services traded between entities or sold to end consumers are included.

Global tanks market segments include:

By Type: Light, Medium, Heavy

By Application: Patrolling, Fighting

By Technology: Active Mine System, Active Protection System, Modular Ballistic Armor, Situational Awareness System, Inter Operable Communication, Vehicle Information Integration, Electric Armor

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The defines is increasingly implementing robot tanks in the military for the purpose of high security which is likely to be a major trend in the tanks market. Robotic tanks are autonomous robots designed for military applications such as transport, search and rescues, and others. These tanks are equipped with guns and rocket arm, and missile arm.

TBRC’s tanks market report covers:

Major Market Players: Oshkosh Defense LLC, General Dynamics Corporation, BAE Systems Plc., Textron Inc., Navistar International Corporation, Norinco Private Limited, Rheinmetall AG, Ukroboronprom, UralVagonZavod, Hyundai Rotem.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Tanks Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides tanks market overviews, analyzes and forecasts market size, share, tanks market players, tanks market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s tanks market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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