Autonomous weapons, multirole vehicles to drive market for ground defense systems to 2030, study saysNews
September 22, 2021
PORTLAND, Ore. Increased investments in autonomous weapons and a boost in demand for multirole armored vehicles will drive the growth of the global ground defense system market over the next decade, according to a new study by Allied Market Research, "Ground Defense System Market Report."
The study authors predict that the global ground defense system market, which accounted for $48.56 billion in sales in 2020, will reach $79.16 billion in 2030, at a combined annual growth rate (CAGR) of 5.2% over the study period.
Aiding the market will be a surge in investments in autonomous or robotic technologies for unmanned ground vehicles, together with higher investments in defense spending by governments around the globe. However, these numbers may be tempered, say the study authors, by the high costs of ground defense systems.
Broken out by end user, the study reveals that the military segment held the largest share of the market in 2020, contributing to around two-fifths of the global ground defense system market; this segment is projected to keep its lead during the forecast period. IN terms of regional spending, North America is estimated to hold the fastest CAGR -- 6.0% -- during the forecast period, although the Asia-Pacific region spent the most in 2020, at more than one-third of the total share, and is expected hold the spending lead to 2030.
For additional information visit the Allied Market Research website.