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Military Vehicle Sustainment Market Share

Report ID: GMI10332
Published Date: Jul 2024
Report Format: PDF

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Military Vehicle Sustainment Market Share

Lockheed Martin Corporation and BAE Systems plc collectively held a significant share of the military vehicle sustainment industry in 2023. Lockheed Martin Corporation is a global aerospace, defense, and security company headquartered in Maryland, U.S. It is one of the world's largest defense contractors, specializing in the design, production, and sustainment of advanced technology systems, including military vehicles. Lockheed Martin's military vehicle sustainment efforts focus on maintaining operational readiness through comprehensive lifecycle management, innovative maintenance solutions, and advanced logistics support.

BAE Systems plc is a British multinational defense, security, and aerospace company headquartered in London. As a leading defense contractor, BAE Systems provides a wide range of military vehicle sustainment services, including maintenance, repair, and overhaul (MRO), as well as modernization and upgrade programs.

Military Vehicle Sustainment Market Companies

Major players operating in the military vehicle sustainment industry are:

Lockheed Martin Corporation
BAE Systems plc
Oshkosh Defense, LLC
General Dynamics Corporation
Northrop Grumman Corporation
Rheinmetall AG
Hanwha Defense

Authors: Suraj Gujar , Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

Market size for military vehicle sustainment was USD 17 billion in 2023 and is expected to register over 5% CAGR from 2024-2032 owing to the rising on-demand production capabilities and advanced manufacturing technologies worldwide.

Military vehicle sustainment industry from the field-level maintenance segment is expected to register over USD 15 billion by 2032 due to this type of maintenance increasingly utilizing advanced diagnostic tools and portable equipment.

Asia Pacific industry is expected to record USD 10 billion by 2032 due to raising their defense budgets, leading to increased investments in military vehicle sustainment in the region.

Lockheed Martin Corporation, BAE Systems plc, Oshkosh Defense, LLC, General Dynamics Corporation, Northrop Grumman Corporation, Rheinmetall AG, and Hanwha Defense, are some of the major military vehicle sustainment companies worldwide.