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Military Vehicle Sustainment Market Trends

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

Military Vehicle Sustainment Market Trends

The military vehicle sustainment sector is witnessing a notable shift towards the advancement of next-generation armored vehicles and extensive product line enhancements. There is a strong emphasis on modernization efforts that enhance vehicle capabilities and ensure alignment with evolving operational requirements. Manufacturers are prioritizing innovation and adaptability in their designs to meet diverse customer needs. Additionally, the integration of advanced technologies into military vehicles is becoming more prevalent, reflecting a commitment to maintaining a competitive edge in the defense sector. Overall, these trends underscore the importance of continuous improvement and responsiveness to market demands in military vehicle production.
 

For instance, in February 2024, EDGE Group entity NIMR unveiled the JAIS Mark 2 (MK2), marking the successful development of its next-generation armored vehicle lineup. Being a manufacturer of combat-proven wheeled military vehicles, NIMR announced the launch of the second-generation JAIS MK2 at the World Defense Show (WDS) 2024.
 

With the rising growth of predictive maintenance in military vehicle sustainment, there is a significant shift towards data-driven strategies that enhance operational efficiency. The integration of IoT sensors and advanced analytics is becoming standard, allowing for real-time monitoring of vehicle health and performance. This proactive approach minimizes downtime by identifying potential issues before they escalate, leading to more effective resource allocation and maintenance scheduling. Additionally, the use of machine learning algorithms is increasingly prevalent, enabling more accurate predictions and tailored maintenance solutions. Overall, these trends highlight a commitment to leveraging technology to improve sustainment practices and ensure mission readiness.

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.

Military Vehicle Sustainment Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 438
  • Countries covered: 21
  • Pages: 220
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