Irving, Texas (PRWEB) August 07, 2012
The global defense vehicle industry, which includesarmored and counter-IED (improvised explosive device) vehicles, is expected to reach US $123.4 billion by 2017 with a marginal CAGR of just 0.1%. The industry’s long-term outlook is influenced by certain factors such as continuous uncertainty in world affairs, the threat of terrorism, instability in the Middle East and other areas of unrest around the world. North America dominates the industry and represents the largestmarket share percentage.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on variouschanges and innovations in the industry and presents its findings in “Global Defense Vehicle Industry 2012-2017: Trend, Profit and Forecast Analysis”The industry comprises manufacturing of military aircraft, land vehicles, and naval systems. This report provides both qualitative and quantitative data analyses of this industry and its major segments.
Lucintel's study reveals the industry went through steep challenges caused by the decreasing revenue of government contractors such as Lockheed Martin and Northrop Grumman Corporation and also due to emerging economies being major buyers of defense products. Secondly, with the war in Afghanistan expected to wind down in the coming years,US defense spending is anticipated to witness a downtrend.
The demand for defense vehiclesis driven by persistent security threats and geopolitical instability.Defense procurement budgetsofnations such as China, the US, Brazil, India, and some Middle Eastern and Latin American countriesinfluence the industry greatly.The demand for land vehicles is also affected by opportunities for advanced multipurpose vehicles and armored combat vehicles required for military operations in the Middle East.
This report highlights that the growth in global defense vehicle industry is expected to remain flat over the next five years (2012-2017). Asia Pacific is anticipated to emerge as the growth market with major contributions from India and China.
Lucintel’s report gives a concise description of the market definition and scope, market overview, global macroeconomic view, market trends and forecasts, and emerging trends of the global defense vehicle industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.