The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

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

The global tanks market is expected to grow from $2.04 billion in 2022 to $2.21 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The global tanks market size is expected to grow to $2.76 billion in 2027 at a CAGR of 5.7%.

Get A Free Sample On The Global Tanks Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3998&type=smp

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. Among these regions, Asia Pacific is the largest region in the global tanks market in 2021.

Major Market Players in the tanks market include Oshkosh Defense LLC., General Dynamics Corporation, BAE Systems PLC., Textron Inc., Navistar International Corporation, Norinco Private Limited.

The Pentagon is increasingly implementing robot tanks in the military for the purpose of high security, which is likely to be a major trend in the tank market. Robotic tanks are autonomous robots designed for military applications such as transport, search and rescue, and others. These tanks are equipped with guns, a rocket arm, and a missile arm. In January 2020, the USA gave a contract to QinetiQ North America to build four robotic combat vehicle-light prototypes and another contract to Textron to build four robotic combat vehicle-medium prototypes. In July 2020, Russia prepared a robot tank, Derivatsiya-PVO, which is a self-propelled artillery tasked with an anti-air mission. Russia revealed that it had combat-tested its Uran-9 robot tank in Syria, which has a gun and missile armament. Such developments in military tanks are emerging as a trend in the tank market.

The Tanks Global Market Report 2023  provides a tanks market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The tanks market forecast analyzes tanks market size, tanks market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A tank is an armored fighting vehicle that is equipped with heavy firepower and strong armor designed for front-line combat. Tanks include a balance of heavy firepower, strong armor, and improved battlefield mobility with a powerful engine.

Explore Similar Reports From The Business Research Company:

Tank Wagons Global Market Report 2023

Tank Level Monitoring System Global Market Report 2023

Defense Equipment Maintenance, Repair And Overhauling Services Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/ 
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company 
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model 

Found this article helpful? Share it on: