- The key vendors in the global military support vehicle market 2015-2019 are AM General, BAE Systems, General Dynamics, Krauss-Maffei Wegmann and Lockheed Martin
London, 09 November 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global military support vehicle market 2015-2019. Vendors of vetronics systems for military support vehicles are shifting toward the use of commercial off the shelf technologies, as they are cost-effective and offer reduction in size, weight, and power (SWaP). The global military support vehicle market is expected to grow at a CAGR of around 3% between 2015 and 2019.
The demand for military security vehicles is growing significantly with the rise in a number of terrorist activities. Governments across the world are planning to modernize and upgrade their legacy support vehicles with unmanned vehicles. These vehicles can be operated remotely and have autonomous decision-making abilities. The use of these vehicles will lead to ease in the performance of surveillance and mine detection activities.
“Innovations in the defense industry have led to the development of military support vehicles. These vehicles use advanced technologies such as hybrid propulsion systems, lightweight materials, and unmanned systems,” says Faisal Ghaus, Vice President of Technavio Research.
“The use of lightweight materials for the manufacture of military vehicles has also become a trend in the defense industry. Lightweight armor systems can provide vehicles with enhanced protection.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Military Support vehicle Market 2015-2019, please send an e-mail to media@TechNavio.com
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