According to a new market intelligence report by BIS Research titled ‘Global Ground Defense System Market − Analysis and Forecast, 2019-2024’, the global ground defense system market was valued at $23.85 billion in 2018 and is expected to reach $34.81 billion in 2024 at a CAGR 6.27% during the forecast period 2019-2024.
The growth of the ground defense system market is majorly due to the factors such as the impending need for the modernization of defense forces, strengthening deterrence capability, and rising terrorist activities around the world which has led to a growing demand of ground defense systems. Moreover, the increasing capital expenditure in the field of electric propulsion system, robotics and autonomous combat and support vehicles drive the market of ground defense systems.
BIS Research Report: https://bisresearch.com/industry-report/ground-defense-system-market.html
On account of growing cross-border conflicts, terrorist activities, and NATO’s defense spending standard, the government and defense forces are focusing on raising defense budget for procurement of advanced combat and support system along with upgradation of old fleets, resulted in the demand for main battle tanks, armored personnel carrier, light tactical vehicle/multi-purpose armored vehicle and amphibious vehicles, among others is growing substantially. Countries such as U.S., U.K., China, India, Japan, Germany, South Korea and Saudi Arabia are actively engaging in new production contracts with private and public defense equipment manufacturing companies.
Request for Sample Report: https://bisresearch.com/requestsample?id=819&type=download
Key Questions Answered in this Report:
- Why should an investor consider venturing into the ground defense system market, and what are the future growth opportunities?
- For a new company looking to enter the market, which areas could it focus upon to stay ahead of the competition?
- How do the existing market players function to improve their market positioning?
- How does the supply chain function in the ground defense system market?
- Which product and technology segment is expected to witness the maximum demand growth in the ground defense system market during 2018-2024 and how is their growth pattern across different regions and countries?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
Contact:
Bhavya Banga
Email: [email protected]
BIS Research Inc.
39111 PASEO PADRE PKWY STE 313,
FREMONT CA 94538-1686
Visit our Blog @ https://blog.bisresearch.com/
Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research
Connect with us on Twitter@ https://twitter.com/BISResearch
The prominent players in the ground defense system market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts and other strategies to expand their business.
The existing companies as well as new entrants, which aim to develop next-generation solutions in adherence with the existing and forthcoming industry standards for various end user applications.
The market is likely to grow rapidly with the innovations in the fields of artificial intelligence, machine learning, robotics and autonomous unmanned vehicles which offer longer endurance and higher efficiency.There has been a significant development in the modernization of ground defense systems which increase the mobility, survivability, and lethality of ground defense vehicles.
In defense and security application, the ground defense systems are used for combat, logistic & transportation, search & rescue explosive ordinance disposal, intelligent, surveillance & reconnaissance, mine clearance, firefighting, engineering and recovery support.
Ground defense vehicles such as main battle tanks, infantry fighting vehicles, self-propelled artillery, multiple launch rocket systems, armored personnel carrier, mine resistant ambush protected vehicles, tactical armored vehicles, light utility vehicles, amphibious and military engineering vehicles are the major types of vehicles which comprise different kinds of electronic and mechanical systems for optimum operation.
These vehicles are capable of handling various activities that include combat capabilities, cognitive capabilities, sensing emotion, intelligence, and surveillance & reconnaissance.Countries across the globe are actively increasing their defense spending for modernizing their defense systems by procurement defense-related products and services.
