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The emerging economies’ overall economic growth is expected to drive innovation in land-based defense equipment manufacturing, driving the market during the forecast period.

The global land based defense equipment market is expected to grow from $13.79 billion in 2022 to $14.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The land based defense equipment mro services market is expected to grow to $17.65 billion in 2027 at a CAGR of 4.6%.

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Global Land Based Defense Equipment Market Segments Include:

• By Type: Armored Vehicles, Missiles, Tanks, Small Arms and Light Weapons
• By Operation: Autonomous Land based Defense Equipment, Manual
• By Application: Military, Law Enforcement
• Subsegments Covered: Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles, Short Range, Medium Range, Intermediate Range, Intercontinental, Light, Medium, Heavy, Small Arms, Light Weapons
• 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 land based defense equipment market in 2021.

Major Market Players in the land based defense equipment market include BAE Systems, Raytheon Co, Northrop Grumman Corp, General Dynamics Corp, and Lockheed Martin Corporation.

CornerShot rifles are becoming more popular in the defense industry. CornerShot weapons have a steel hinge that allows the gun’s frame to bend around a corner and attack the target while remaining concealed. These rifles use a high-resolution camera and LCD monitor to help shooters navigate around corners. Corner-shot rifles are commonly used inside armoured vehicles and tanks, on a turret on top, providing a full 360-degree field of cover while the triggerman remains safely inside the vehicle. Depending on the type of weapon, the weapon is accurate and effective up to 100 to 200 metres. Corner Shot eliminates the need for this first exposure.

The Land Based Defense Equipment Global Market Report 2023  provides a land based defense equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The land based defense equipment market forecast analyzes land based defense equipment market size, land based defense equipment 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.

Land-based defense equipment, such as weapons, refers to support and auxiliary equipment used in land-based defense operations. Turrets and ROWS, cannons and missiles, armour packages, and active protection systems are among the components and subcomponents of land-based defense equipment.

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