Main Battle Tank Market Size
![Main Battle Tank Market Summary](https://s3.mordorintelligence.com/main-battle-tank-market/1669036746243_main-battle-tank-market_Market_Summary.webp)
Study Period | 2018 - 2028 |
Base Year For Estimation | 2022 |
CAGR | > 3.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Europe |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Main Battle Tank Market Analysis
The main battle tank market is anticipated to register a CAGR of over 3% during the forecast period.
- Despite the significant impact of the COVID-19 pandemic on the economy, the market for battle tanks remained unaffected, as the defense procurement projects were on track, and the sales and revenues of the battle tanks increased steadily for the manufacturing companies.
- Procurements of main battle tanks (MBTs) are expected to be high during the forecast period. The growing geopolitical tensions and border issues between various countries in Asia-Pacific, Europe, the Middle East, and Africa are generating demand for the procurement of new battle tanks to enhance the combat capabilities of the ground forces. An increase in investments in the MBTs is also due to the aging fleet of the MBTs. In this regard, countries invest more in procuring new-generation MBTs to replace older ones.
- The new versions of MBTs cost about 4-5 times less than most Western MBTs. Moreover, their low weight and reduced operating costs influence the militaries' procurement decisions to procure them in large quantities. The market is currently driven by the increasing procurement of tanks by various countries, like Hungary, Russia, Thailand, France, and Germany. The demand is expected to be high, especially from these countries, during the forecast period.
Main Battle Tank Market Trends
Light Battle Tanks to Register Fastest Growth in the Market During the Forecasted Period
- Light tanks are the most maneuverable and fastest of all tank types. They were intended to be deployed in large numbers, typically for frontal breakthroughs that other units could exploit. Light tanks have excellent cross-country mobility, but they may sacrifice armor protection or armament firing power depending on their design goals. Many countries are developing advanced new generation main battle tanks to equip their militaries.
- Examples of battle tanks manufactured for certain countries include the T-90MS and T-14 Armata for Russia, M1A2 SEP V3 for the US, the Leopard 2A7 for Germany, the VT4 (MBT-3000) and Type 99 (ZTZ99) for China, the Challenger 2 “Black Night” for the UK, the Leclerc XLR for France, the "Leoclerc" EMBT for France and Germany, the Altay for Turkey, the K2 Black Panther for South Korea, the TAM 2IP for Argentina, the Type 10 for Japan, the Karrar for Iran, and the Merkava IV Barak / Merkava IV M Windbreaker for Israel.
- Additionally, there are many plans to manufacture indigenous new-generation tanks by many countries, like India, which is manufacturing the Arjun Tanks. Research is also in progress to develop and deploy unmanned battle tanks by countries like Russia and China. For instance, in October 2022, General Dynamics Land Systems (GDLS) started assembling the US Army’s Mobile Protected Firepower system, the first new combat vehicle to enter the force in nearly four decades.
- For instance, in June 2022, the Army selected GDLS to build a light tank to improve mobility, protection, and direct-fire capabilities for infantry brigade combat teams. All these next-generation battle tanks may cater to the modernization needs of the militaries, thereby helping the market's growth in the years to come.
![Main Battle Tank Market: Main Tank Battle Fleet Strength, By Country , 2023](https://s3.mordorintelligence.com/main-battle-tank-market/1680269656791_main-battle-tank-market_Main_Tank_Battle_Fleet_Strength_By_Country__2023.png)
Europe to be the Largest Growing Market for Main Battle Tanks
- Unlike most countries that focus on procuring other types of armored vehicles, excluding the main battle tanks, Europe's countries focus on procuring new main battle tanks and modernizing their existing MBT fleet.
- Countries in the region, like France and Germany, are collaborating to produce the next generation of MBTs. Moreover, the ongoing war between Russia and Ukraine is one of the driving factors for procuring more combat vehicles. The demand is expected to be generated from countries, like the United Kingdom, Italy, Finland, France, Germany, Croatia, Poland, Sweden, and Turkey, in the coming years.
- For instance, In March 2022, Germany started testing their first action-ready models of Leopard 2 A7V two years ago. In February 2022, the first 30-unit group of the most advanced main battle tanks developed in this country joined the military ranks. All these factors are expected to help the market's growth in the region during the forecast period.
![Main Battle Tank Market - Growth Rate by Region (2023 - 2028)](https://s3.mordorintelligence.com/main-battle-tank-market/1686033965486_main-battle-tank-market_Main_Battle_Tank_Market_-_Growth_Rate_by_Region_2023_-_2028.png)
Main Battle Tank Industry Overview
The main battle tank market is largely consolidated, with the market needing to be catered to by defense manufacturers like General Dynamics Corporation, BAE Systems plc, Hyundai Rotem, Rostec, and Nexter group KNDS. The manufacturers are some of the major players in the main battle tank market and occupy most of the market share. Strategic partnerships between the players may enable the transfer of technology between them and help them gain a higher market share by attracting new customers. For instance, Germany's Krauss-Maffei Wegmann GmbH and France's Nexter Systems have collaborated to produce next-generation battle tanks that would replace the Leopard 2 Tanks of Germany. Such partnerships may help boost the growth of the players' revenues.
Main Battle Tank Market Leaders
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General Dynamics Corporation
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BAE Systems plc
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Hyundai Rotem
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Rostec
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Nexter group KNDS
*Disclaimer: Major Players sorted in no particular order
![Main Battle Tank Market Concentration](https://s3.mordorintelligence.com/main-battle-tank-market/main-battle-tank-market_1669039075835_Key_Market_Players_and_Market_Concentration_Template_(1).webp)
Main Battle Tank Market News
- March 2022: India recently signed a contract to procure 350 light battle tanks (LBTs) with a total value of USD 1.9 billion. The operational difficulties associated with using heavy main battle tanks (MBTs) in mountain warfare have pushed India’s light tank program.
- March 2022: The British Army began work on its next-generation main battle tank or MBT, the Challenger 3 upgrade. The 148 Challenger 3s, to be upgraded from the existing Challenger 2s at the cost of around USD 1.3 billion, will be expected to ensure these capabilities remain intact until at least 2040.
Main Battle Tank Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Light
5.1.2 Medium
5.1.3 Heavy
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 Latin America
5.2.4.1 Brazil
5.2.4.2 Mexico
5.2.4.3 Rest of Latin America
5.2.5 Middle East and Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 South Africa
5.2.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 General Dynamics Corporation
6.2.2 BAE Systems plc
6.2.3 BMC
6.2.4 Hyundai Rotem Co
6.2.5 Nexter group KNDS
6.2.6 Rheinmetall AG
6.2.7 Israel Military Industries
6.2.8 Mitsubishi Heavy Industries Ltd
6.2.9 Norinco Private Limited
6.2.10 DRDO
6.2.11 Rostec
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Main Battle Tank Industry Segmentation
Main battle tanks are regarded as one of the most important components of modern armies. The main battle tank is a tank that fills many modern armies' maneuver and armor-protected direct-fire roles. As national security concerns grow, nations are urged to strengthen their military forces by purchasing advanced battle tanks and upgrading their existing warfare equipment. Modern main battle tanks are organized into armored units that operate alongside the infantry. Furthermore, modern battle tanks are deployed in conflict zones and are supported by surveillance or ground aircraft.
The main battle tank market is segmented by type and by geography. By type, the market is segmented into light, medium, and heavy. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
The market sizing and forecasts have been provided in value (USD billion) for all the above segments.
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Main Battle Tank Market Research FAQs
What is the current Main Battle Tank Market size?
The Main Battle Tank Market is projected to register a CAGR of greater than 3% during the forecast period (2023-2028).
Who are the key players in Main Battle Tank Market?
General Dynamics Corporation, BAE Systems plc, Hyundai Rotem, Rostec and Nexter group KNDS are the major companies operating in the Main Battle Tank Market.
Which is the fastest growing region in Main Battle Tank Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Main Battle Tank Market?
In 2023, the Europe accounts for the largest market share in the Main Battle Tank Market.
Main Battle Tank Industry Report
Statistics for the 2023 Main Battle Tank market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Main Battle Tank analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.