Tank & Armored Vehicle Manufacturing in the US
Over the five years to 2018, the Tank and Armored Vehicle Manufacturing industry finally began to recover after taking a direct hit from plummeting demand. Industry players research, develop, manufacture, modify and repair military armored vehicles, self-propelled artillery and tanks. Before the current five-year period, demand for industry products skyrocketed due to the United States' involvement in two wars, which increased demand for industry products. In particular, the initially intense drop in industry revenue occurred due to the end of abnormally high demand for mine-resistant ambush protected (MRAP) vehicles, which proved useful in the particular combat environment of Iraq and Afghanistan. Over the five years to 2023, industry revenue is forecast to rise. The defense budget is expected to gradually increase, with programs such as the Armored Multi-Purpose Vehicle and the Joint Light Tactical Vehicle, in particular, expected to drive demand for industry products.
This US industry manufactures complete military armored vehicles, combat tanks and specialized components for combat tanks, including self-propelled weapons.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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