Global Tanks Market Trends And Strategies Of Major Players In The Tanks Market 2021-2030
10 Nov, 2021
The tanks market consists of sales of military tanks by entities (organizations, sole traders and partnerships) that produce military tanks. A tank is an armored fighting vehicle which is equipped with heavy firepower and strong armor designed for front line combat. Only goods and services traded between entities or sold to end consumers are included.
Global Tanks Market Size And Drivers:
The global tank market is expected to decline from $0.96 billion in 2020 to $0.94 billion in 2021 at a compound annual growth rate (CAGR) of -2.1%. The decline is attributed to the COVID-19 implications including social distancing practices, supply chain disruptions, and halt or closure of production. The tanks market is expected to reach $1.02 billion in 2025 at a CAGR of 2.1%. The increase in the defense budget for the military is expected to drive the growth of the tanks market. The increase in the defense budget for the military is expected to drive the growth of the tanks market.
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Trends In The Global Tanks Market
The defense is increasingly implementing robot tanks in the military for the purpose of high security which is likely to be a major trend in the tanks market. Robotic tanks are autonomous robots designed for military applications such as transport, search and rescues, and others. These tanks are equipped with guns and rocket arm, and missile arm. In January 2020, the USA has given a contract to QinetiQ North America to build four robotic combat vehicle-light prototype and another contract to Textron to build four robotic combat vehicle-medium prototypes. In July 2020, Russia prepared a robot tank Derivatsiya-PVO which is self-propelled artillery tasked with an anti-air mission. In May 2018, Russia revealed that it had combat-tested its Uran-9 robot tank in Syria which has a gun and missile armament. Such developments in military tanks emerging as trend in tanks market.
Global Tanks Market Segments:
The global tanks market is further segmented –
By Type: Light, Medium, Heavy
By Application: Patrolling, Fighting
By Technology: Active Mine System, Active Protection System, Modular Ballistic Armor, Situational Awareness System, Inter Operable Communication, Vehicle Information Integration, Electric Armor
By Geography: The global tanks market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/tanks-global-market-reportTanks Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides tanks market overviews, analyzes and forecasts market size and growth for the global tanks market, tanks market share, tanks market players, tanks market segments and geographies, tanks market’s leading competitors’ revenues, profiles and market shares. The tanks market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.