Middle East Military Vehicles Market Size (2024 - 2029)

The Middle East Military Vehicles Market is experiencing significant growth, driven by the need for modernization and expansion of military fleets across the region. While some countries operate advanced military vehicles, others are upgrading their Soviet-era fleets, leading to increased investment in new vehicle procurement and upgrade programs. The region is also enhancing its self-sufficiency by developing indigenous manufacturing capabilities, often through partnerships and technology transfer agreements. However, economic factors such as oil price fluctuations are impacting military spending, influencing the overall market size and growth trajectory.

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Market Size of Middle East Military Vehicles Industry

Middle East Military Vehicles Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 32.22 Billion
Market Size (2029) USD 43.73 Billion
CAGR (2024 - 2029) 6.30 %
Market Concentration Medium

Major Players

Middle East Military Vehicles Market Major Players

*Disclaimer: Major Players sorted in no particular order

Middle East Military Vehicles Market Analysis

The Middle East Military Vehicles Market size is estimated at USD 32.22 billion in 2024, and is expected to reach USD 43.73 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).

While countries like Saudi Arabia, Israel, and the United Arab Emirates operate modern military vehicles, several countries in the region possess Soviet-era vehicles that require modernization. Hence, these countries are investing in the procurement of new military vehicles. 

In addition, the aging fleet of military vehicles is also forcing some countries to invest in upgrade programs to improve the efficiency, lethality, and sophistication of the vehicles if they are slated to be effectively functional for some more years. 

While the modernization and expansion of the region's vehicle fleets continue at a healthy pace, the region is also becoming increasingly self-sufficient and independent of foreign countries by developing indigenous manufacturing capabilities. Several countries have been developing military vehicles on their own or are partnering with their foreign counterparts and manufacturing vehicles locally with the help of technology transfer agreements. 

However, factors like fluctuations in oil prices are affecting the economies of several countries in Middle East, in turn affecting growth in military spending.

Middle East Military Vehicles Industry Segmentation

The study provides insights into the procurement, indigenous manufacturing, upgrade activities, and development of military vehicles in the Middle Eastern region. Military vehicles include military aircraft, naval vessels, and armored vehicles. 

The Middle East military vehicles market is segmented by military aircraft, naval vessels, armored vehicles, and geography. By military aircraft, the market is segmented into combat aircraft and non-combat aircraft. By naval vessels the market is segmented into destroyers, frigates, corvettes, submarines, and other naval vessels. The other naval vessels include patrol boats, support vehicles, etc. By armored vehicles the market is segmented into armored personnel carriers, infantry fighting vehicles, mine-resistant ambush protected, main battle tanks, and other armored vehicles. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).

Military Aircraft
Combat Aircraft
Fighter Aircraft
Combat Helicopters
Non-combat Aircraft
Reconnaissance and Surveillance Aircraft
Trainer Aircraft
Transport Aircraft
Other Non-combat Aircraft
Naval Vessels
Destroyers
Frigates
Corvettes
Submarines
Other Naval Vessels
Armored Vehicles
Armored Personnel Carriers
Infantry Fighting Vehicles
Mine-Resistant Ambush Protected
Main Battle Tanks
Other Armored Vehicles
Geography
Saudi Arabia
United Arab Emirates
Qatar
Turkey
Israel
Rest of the Middle East
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Middle East Military Vehicles Market Size Summary

The Middle East military vehicles market is experiencing significant growth, driven by the need for modernization and expansion of military fleets across the region. Countries such as Saudi Arabia, Israel, and the United Arab Emirates are at the forefront, operating advanced military vehicles, while others are focused on upgrading their Soviet-era fleets. This push for modernization is further fueled by the aging vehicle fleets that require enhancements in efficiency, lethality, and sophistication. The region is also witnessing a shift towards self-sufficiency, with countries developing indigenous manufacturing capabilities and forming partnerships for technology transfer agreements. This trend is expected to bolster the market's growth, despite challenges posed by fluctuating oil prices impacting military spending.

The market landscape is semi-consolidated, with both local and international players competing for market share. Prominent companies such as Rostec, Lockheed Martin Corporation, The Boeing Company, Saudi Arabian Military Industries (SAMI), and Leonardo S.p.A. are key participants. The focus on indigenous manufacturing is anticipated to increase the market share of local players, with Turkey, Saudi Arabia, and the United Arab Emirates leading the charge. Initiatives like Saudi Arabia's Vision 2030 aim to enhance local defense manufacturing capabilities, reducing dependency on imports. The market's growth is further supported by ongoing procurement activities and strategic agreements, such as Turkey's investment in its defense industry and the UAE's modernization efforts, which include collaborations with international defense companies.

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Middle East Military Vehicles Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Military Aircraft

      1. 2.1.1 Combat Aircraft

        1. 2.1.1.1 Fighter Aircraft

        2. 2.1.1.2 Combat Helicopters

      2. 2.1.2 Non-combat Aircraft

        1. 2.1.2.1 Reconnaissance and Surveillance Aircraft

        2. 2.1.2.2 Trainer Aircraft

        3. 2.1.2.3 Transport Aircraft

        4. 2.1.2.4 Other Non-combat Aircraft

    2. 2.2 Naval Vessels

      1. 2.2.1 Destroyers

      2. 2.2.2 Frigates

      3. 2.2.3 Corvettes

      4. 2.2.4 Submarines

      5. 2.2.5 Other Naval Vessels

    3. 2.3 Armored Vehicles

      1. 2.3.1 Armored Personnel Carriers

      2. 2.3.2 Infantry Fighting Vehicles

      3. 2.3.3 Mine-Resistant Ambush Protected

      4. 2.3.4 Main Battle Tanks

      5. 2.3.5 Other Armored Vehicles

    4. 2.4 Geography

      1. 2.4.1 Saudi Arabia

      2. 2.4.2 United Arab Emirates

      3. 2.4.3 Qatar

      4. 2.4.4 Turkey

      5. 2.4.5 Israel

      6. 2.4.6 Rest of the Middle East

Middle East Military Vehicles Market Size FAQs

The Middle East Military Vehicles Market size is expected to reach USD 32.22 billion in 2024 and grow at a CAGR of 6.30% to reach USD 43.73 billion by 2029.

In 2024, the Middle East Military Vehicles Market size is expected to reach USD 32.22 billion.

Middle East Military Vehicles Market Report Snapshots

Middle East Military Vehicles Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)