How big is the Main Battle Tank Market?

The Main Battle Tank Market size is expected to reach USD 5.99 billion in 2024 and grow at a CAGR of 2.31% to reach USD 6.71 billion by 2029. Read More

What is the current Main Battle Tank Market size?

In 2024, the Main Battle Tank Market size is expected to reach USD 5.99 billion. Read More

Who are the key players in Main Battle Tank Market?

General Dynamics Corporation, BAE Systems plc, Rostec, Hyundai Rotem Company and KNDS N.V. are the major companies operating in the Main Battle Tank Market. Read More

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 (2024-2029). Read More

Which region has the biggest share in Main Battle Tank Market?

In 2024, the Europe accounts for the largest market share in Main Battle Tank Market. Read More

What years does this Main Battle Tank Market cover, and what was the market size in 2023?

In 2023, the Main Battle Tank Market size was estimated at USD 5.85 billion. The report covers the Main Battle Tank Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Main Battle Tank Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Main Battle Tank Market - Size, Share & Analysis

Main Battle Tank Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Main Battle Tank Market Report is Segmented by Type (Light, Medium, and Heavy) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Sizes and Forecasts for all the Above Segments in Terms of Value (USD).

Main Battle Tank Industry Overview

The main battle tank market is consolidated and dominated by key defense manufacturers, including General Dynamics Corporation, BAE Systems PLC, Hyundai Rotem Company, Rostec, and KNDS NV.

Strategic partnerships among these players facilitate technology transfers, enhancing their market share and attracting new customers. In a notable move, KNDS and LEONARDO forged a strategic alliance in December 2023. This collaboration focuses on developing, manufacturing, and maintaining the LEOPARD 2 A8 solution for the Italian Army alongside its support platforms. This partnership aligns with the Italian MoD's strategy outlined in the Documento Programmatico Difesa 2023-2025 and the Action Plan of the Agreement between Italy and Germany. Similarly, in March 2022, the British Army initiated the development of its next-generation main battle tank (MBT), the Challenger 3 upgrade. The plan involves upgrading 148 Challenger 2s to Challenger 3s, with an estimated cost of USD 1.3 billion. These upgrades are crucial to maintaining the tank's capabilities through 2040.