Market Share of Asia-Pacific Armored Fighting Vehicles Industry
The armored fighting vehicles market in Asia-Pacific is fragmented, with several global and local defense firms competing based on product innovation and cost. Some of the key players in the market are General Dynamics Corporation, Rheinmetall AG, JSC Rosoboronexport (Rostec State Corporation), BAE Systems plc, and Mitsubishi Heavy Industries, Ltd.
Due to the high demand anticipated from the Asia-Pacific region, several European and American companies are collaborating with local firms to receive new contracts. Smaller firms are also partnering with leading OEMs of armored vehicles for the development of new vehicles. Such partnerships enhance the supply chain as well as improve the technical know-how. In March 2023, Australia announced the biggest export deal of USD 3 billion by supplying Boxer combat vehicles built in Queensland to the German military.
Asia-Pacific Armored Fighting Vehicles Market Leaders
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JSC Rosoboronexport (Rostec State Corporation)
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General Dynamics Corporation
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Rheinmetall AG
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BAE Systems plc
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Mitsubishi Heavy Industries, Ltd.
*Disclaimer: Major Players sorted in no particular order
