Military Vehicle Sustainment Market worth $35.62 billion by 2030 - Exclusive Report by 360iResearch

PUNE, MAHARASHTRA, INDIA, November 9, 2023 /EINPresswire.com/ -- The "Military Vehicle Sustainment Market by Service (Maintenance, Repair, & Overhaul, Parts & Components Supply, Training & Support), Vehicle Type (Armored Fighting Vehicles, Engineering & Recovery Vehicles, Ground Support Vehicles), Application - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Military Vehicle Sustainment Market to grow from USD 20.17 billion in 2022 to USD 35.62 billion by 2030, at a CAGR of 7.36%.

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Military vehicle sustainment encompasses the comprehensive range of maintenance, repair, and overhaul (MRO) services required to prolong the operational life and enhance the performance of a wide array of military vehicles. The increasing global defense expenditure is driven by geopolitical tensions and regional conflicts, which demand efficient MRO solutions to maintain fleets operational under challenging conditions. Additionally, the rising adoption of advanced military technologies necessitates regular updates and upgrades to maintain technologically advanced vehicles on the battlefield. However, high costs associated with maintaining advanced military platforms that exceed budget allocations may adversely impact the adoption of military vehicle sustainment services. Moreover, the development of innovative maintenance strategies leveraging digitalization tools such as predictive analytics and remote diagnostics systems can enable more proactive approaches toward vehicle sustainment in the upcoming years.

Application: Proliferating need for military vehicle sustainment services in the army
The Air Force requires diverse military vehicles to support combat missions and ensure close air support and air force protection. Rapid deployment capabilities, advanced maintenance systems, and interoperability with existing aircraft and equipment are essential for military vehicles in the Air Force. The primary mission of the Army is to provide land-based power projection across multiple domains, such as combat operations, counterinsurgency operations, humanitarian assistance missions, and stabilization. Vehicle sustainment needs for the Army include durability under harsh conditions, modularity for mission-specific configurations, and reduced logistical footprint. The primary responsibility of the Navy is maintaining maritime dominance and protecting global trade routes. Their military vehicles must operate in challenging marine environments, support diverse missions such as force projection, counter-piracy operations, and humanitarian assistance, and seamlessly integrate with existing naval assets and platforms, necessitating regular repair and maintenance of military vehicles.

Services: Significant demand for military vehicle maintenance, repair, and overhaul (MRO) services
Military vehicle maintenance, repair, & overhaul (MRO) services are crucial to maintain operational readiness and ensure the longevity of defense assets. Parts & components supply services provide timely replacement of worn-out or damaged parts in military vehicles to preserve their performance capabilities. Training & support services include personnel with essential expertise in operating and maintaining military vehicles to optimize efficiency and reduce downtime during missions. This includes hands-on training, simulation and virtual reality systems, instructional materials, customized training programs, remote learning options, and updated courses with the latest technological advancements. Upgrades & modernization services enhance the capabilities of existing military vehicles by integrating state-of-the-art systems and technologies to meet evolving threats and mission requirements. MRO services are essential, considering the importance of maintaining operational readiness and extending asset life cycles. Parts & component supply services are crucial as they directly affect vehicle performance efficiency during missions. Training & support services are gaining importance in recent years due to technological advancements in military vehicle systems requiring specialized skill sets for operation and maintenance. Upgrades & modernization services have been gaining traction among defense forces worldwide for integrating new technology or replacing aging parts with more advanced alternatives to improve vehicle performance or lifespan without compromising functionality or safety.

Vehicle Type: Extensive use of military vehicle sustainment services to ensure adequate working efficiency of armored fighting vehicles
Armored Fighting Vehicles (AFVs) are combat vehicles designed for offensive and defensive operations and provide mobility, protection, and firepower to infantry units. The need for AFVs arises from the requirement to engage and defeat enemy forces while minimizing casualties. Engineering & recovery vehicles are specialized vehicles that support military engineering tasks such as bridging, mine clearance, and vehicle recovery during combat operations. These vehicles are required to maintain operational readiness and enable force maneuvering through complex terrain. Ground support vehicles facilitate logistical support to military units by transporting supplies, personnel, or equipment on the battlefield. These vehicles are essential for maintaining force sustainability during prolonged missions or campaigns. Landing craft & amphibious vehicles enable sea-to-shore transportation of troops and equipment during amphibious operations or disaster relief missions. Light tactical vehicles are agile, multi-purpose vehicles designed for surveillance, patrol, or transport missions in various terrains. The demand is driven by the need for versatile and rapidly deployable units that can navigate complex combat environments. Military trucks are heavy-duty vehicles designed for long-range transportation of personnel, equipment, or supplies during military operations. They provide logistical support to ensure force sustainability during prolonged engagements. Mine-Resistant Ambush Protected (MRAP) vehicles offer enhanced protection to personnel against improvised explosive devices (IEDs) and small arms fire during counter-insurgency operations. The demand for these vehicles arises to minimize casualties from asymmetric threats in conflict zones. Self-propelled artillery systems provide mobile, long-range firepower for ground forces to support offensive and defensive operations. Self-propelled artillery systems deliver rapid and precision fire support during combat missions. These military vehicles play crucial roles in modern military operations by providing mobility, protection, and logistical support and need efficient military vehicle sustainment solutions to maintain their operational efficiency during military operations.

Regional Insights:
The military vehicle sustainment market is evolving in the Americas owing to the defense spending on advanced military vehicles for its armed forces. The U.S. Department of Defense continues to focus on upgrading existing vehicle fleets with state-of-the-art technologies such as autonomous systems and increased survivability features. EU countries allocate significant budgets toward military vehicle development and sustainment initiatives for enhancing mission effectiveness. In the EMEA region, increasing focus on indigenous production capabilities due to growing demand for military vehicles and the presence of defense manufacturers are encouraging the growth of the military vehicle sustainment market. The APAC region is rapidly expanding its military vehicle production capabilities, driven by substantial investments in research and development and collaborative strategies to strengthen defense capabilities. The countries in the region, including China, are focusing on developing cutting-edge technologies to enhance their self-defense forces' mobility and survivability. Moreover, the integration of breakthrough technologies is expected to improve the efficiency of vehicles and is anticipated to boost the adoption of military vehicle sustainment services globally.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Military Vehicle Sustainment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Military Vehicle Sustainment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Military Vehicle Sustainment Market, highlighting leading vendors and their innovative profiles. These include 3M Company, AM General LLC, Babcock International Group PLC, BAE Systems plc, Booz Allen Hamilton Holding Corporation, CAMSS Shelters, EDGE Group PJSC, Elbit Systems Ltd., General Dynamics Land Systems, GS Engineering Inc., Honeywell International Inc., Indra Sistemas, S.A., Kratos Defense & Security Solutions, Inc., L3Harris Technologies, Inc., Larsen & Toubro Ltd, Leonardo DRS, Inc., Lockheed Martin Corporation, Mahindra Emirates Vehicle Armoring Fz LLC by Mahindra & Mahindra Limited, ManTech International Corporation, Meritor, Inc. by Cummins Inc., Northrop Grumman Corporation, Oshkosh Corporation, Rheinmetall AG, RTX Corporation, Serco Group plc, Sprung Instant Structures Ltd, Terma A/S, Textron Systems Corporation, Thales Group, and Ventia Services Group Pty Limited.

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Market Segmentation & Coverage:

This research report categorizes the Military Vehicle Sustainment Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Service, market is studied across Maintenance, Repair, & Overhaul, Parts & Components Supply, Training & Support, and Upgrades & Modernization. The Maintenance, Repair, & Overhaul commanded largest market share of 38.74% in 2022, followed by Parts & Components Supply.

Based on Vehicle Type, market is studied across Armored Fighting Vehicles, Engineering & Recovery Vehicles, Ground Support Vehicles, Landing Craft & Amphibious Vehicles, Light Tactical Vehicles, Military Trucks, Mine-Resistant Ambush Protected (MRAP) Vehicles, and Self-Propelled Artillery. The Armored Fighting Vehicles commanded largest market share of 19.12% in 2022, followed by Military Trucks.

Based on Application, market is studied across Air Force, Army, and Navy. The Army commanded largest market share of 64.65% in 2022, followed by Air Force.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Georgia, Illinois, Indiana, Kentucky, New York, North Carolina, Ohio, Pennsylvania, Texas, and Washington. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 42.12% in 2022, followed by Asia-Pacific.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Military Vehicle Sustainment Market, by Service
7. Military Vehicle Sustainment Market, by Vehicle Type
8. Military Vehicle Sustainment Market, by Application
9. Americas Military Vehicle Sustainment Market
10. Asia-Pacific Military Vehicle Sustainment Market
11. Europe, Middle East & Africa Military Vehicle Sustainment Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Military Vehicle Sustainment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Military Vehicle Sustainment Market?
3. What is the competitive strategic window for opportunities in the Military Vehicle Sustainment Market?
4. What are the technology trends and regulatory frameworks in the Military Vehicle Sustainment Market?
5. What is the market share of the leading vendors in the Military Vehicle Sustainment Market?
6. What modes and strategic moves are considered suitable for entering the Military Vehicle Sustainment Market?

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Mr. Ketan Rohom
360iResearch
+1 530-264-8485
ketan@360iresearch.com

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