Armored Military Vehicle Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/30/2024
SIC Codes: 3711, 3795
NAICS Codes: 336992
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Armored Military Vehicle Manufacturing Industry Profile

Companies in this industry manufacture military armored vehicles, combat tanks, and specialized military ground vehicle components. Major US companies include AM General, General Dynamics, Lockheed Martin, Oshkosh Corporation, Textron, and certain operations of UK-based BAE Systems.

Geopolitical tensions, advances in technology, and rising military budgets are expected to bolster the global armored military vehicle market according to IbisWorld. Top growth markets for armored military vehicles include Russia, Poland, the UK, France, Germany, and Turkey, according to Global Data.

The US armored vehicle manufacturing industry includes about 50 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion.

COMPETITIVE LANDSCAPE

Demand is driven by military budgets, which typically change with perceived threats to national security. The profitability of individual companies depends on the effective management of subcontractors and raw materials costs and technological expertise. Large companies enjoy economies of scale in design, manufacturing, and purchasing. While small companies often introduce innovation, large companies are often able to adapt more quickly to the evolving demands of modern warfare. Small companies can compete by providing niche products to prime contractors, and by forming joint ventures with larger contractors. The US industry is highly concentrated: the top four companies account for more than 80% of industry revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major products include self-propelled weapons and other full tracked combat vehicles (45%) and tanks (24%). Other major products includes trucks, truck tractors, and truck and ...

 
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