Military Vehicle Market Size and Forecast 2021 - 2031, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Application, Technology, and Geography
The Military Vehicle Market size was valued at US$ 32.47 billion in 2024 and is expected to reach US$ 65.53 billion by 2031; it is estimated to record a CAGR of 10.8% from 2025 to 2031.
The Military Vehicle Market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2024, followed by Europe, and Asia Pacific respectively.
The US, Canada, and Mexico are the significant economies in North America. The US is leading the military vehicles market across North America. The government's focus on strengthening the country's defense sector in terms of advanced military vehicles for transportation, logistics, and combat vehicles is driving the US military vehicle market growth. In 2022, the military expenditure of the US was US$ 860.6 billion on defense activities, and in 2021 it was ~US$ 870.7 billion. In 2023, the US invested US$ 916 billion in military domain. The increasing budget for defense expenditure indicates the country's focus and emphasis on advancing the defense sector to meet the growing need for security. The Lockheed Martin Corporation, General Dynamics Corporation, and BAE Systems Plc are among the key companies operating in the US. Technological advancements in the field of transportation, logistics, and combat platforms in the defense sector are boosting the demand for multi-role military vehicles in the US. For instance, in 2023, BAE Systems was awarded a US$ 211 million firm-fixed-price modification to a previously awarded contract by the U.S. Marine Corps for more amphibious combat vehicles (ACVs) under the Marine Corps' fourth order for full-rate production (FRP). In addition to vehicle production, the award covers the procurement of 40 FRP ACV Personnel (ACV-P) variants, fielding and support expenditures, and test equipment. Furthermore, in 2024, BAE Systems was awarded US$ 25 million to deliver the US Marine Corps more ACV-P units under its fourth order for full-rate production. In 2022, the US Army awarded a US$ 732.7 million contract to AM General LLC for HMMWV ECV lightweight battlefield vehicles and vetronics for surveillance, reconnaissance, medical, and similar applications. Thus, the rise in technological advancements and the need for modern multi-purpose vehicles to manage the surveillance and security of the country are boosting the demand for military vehicles in the US.
Based on applications, the military vehicle market has been segmented into ground support handling, tactical warfare, ISR, military transportation, and others. The tactical warfare segment held the largest share of the military vehicle market in 2024. The increase in complexity of warfare, the rise of asymmetric threats, and the need for enhanced tactical mobility and protection for ground forces are among the factors propelling the market growth for the application segment. The military transportation segment is distinguished from other segments by its focus on payload capacity, range, and versatility, with vehicles designed to operate in a wide range of terrain and environmental conditions. These vehicles may include trucks, trailers, and specialized transport platforms, each with unique features and capabilities to meet the specific requirements of military logistics. Factors driving the market growth of the military transportation segment include the increasing need to modernize aging fleets, evolving military operational requirements, and the continuous demand for efficient logistics in complex combat scenarios. For instance, in January 2025, the German armed forces (Bundeswehr) awarded a contract to Rheinmetall for the supply of 568 logistics vehicles. This order includes 349 UTF trucks (unprotected transport vehicles) in both 5-ton and 15-ton models, alongside 219 trucks equipped with a swap-body system-121 of which will feature a protected driver's cab. The total value of these projects exceeds US$ 410 million, with deliveries scheduled for 2025 and 2026. This significant order highlights the ongoing modernization efforts within military transportation and reflects the increasing demand for reliable logistics solutions.
ASHOK LEYLAND; BAE Systems Plc; General Dynamics Corporation; NORINCO Group; Oshkosh Defense, LLC; Patria; Rheinmetall AG; Soframe; Tata Motors; Thales Group; Lockheed Martin Corporation; and KNDS France are among the key Military Vehicle Market players that are profiled in this market study.
The overall Military Vehicle Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Military Vehicle Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Military Vehicle Market.
Table Of Contents
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Military Vehicle Market Landscape
4.1 Overview
4.2 Porter Five Forces Analysis
4.3 Ecosystem Analysis
4.3.1 Component Suppliers
4.3.2 Military Vehicle Manufacturers
4.3.3 Technology Integrators
4.3.4 End User
4.3.5 List of Military Vehicle Providers
5. Military Vehicle Market - Key Market Dynamics
5.1 Military Vehicle Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Defence Expenditure
5.2.2 Mounting Incidents of Unstable Geopolitical Scenario
5.2.3 Increasing Number of Contracts for Supply of Military Vehicles
5.3 Market Restraints
5.3.1 Technical Limitations and Failures of Armoured Military Vehicles
5.3.2 Limited Number of Military Vehicle Manufacturing Facilities in Developing Countries
5.4 Market Opportunities
5.4.1 Growing Demand for Multi-Role Military Vehicles
5.4.2 Increasing Adoption of Lightweight Materials in Manufacturing Military Vehicles
5.5 Market Future Trends
5.5.1 Electrification of Military Vehicles
5.5.2 Advent of Modern Warfare Technologies
5.6 Impact of Drivers and Restraints:
6. Military Vehicle Market - Global Market Analysis
6.1 Military Vehicle Market Revenue (US$ Billion), 2021-2031
6.2 Military Vehicle Market Forecast Analysis
7. Military Vehicle Market Analysis - by Type
7.1 Tanks
7.1.1 Overview
7.1.2 Tanks: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.2 Military Trucks
7.2.1 Overview
7.2.2 Military Trucks: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.3 Amphibious Military Vehicles
7.3.1 Overview
7.3.2 Amphibious Military Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.4 Armored Vehicles
7.4.1 Overview
7.4.2 Armored Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.5 Reconnaissance Vehicles
7.5.1 Overview
7.5.2 Reconnaissance Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.6 Special Purpose Vehicles
7.6.1 Overview
7.6.2 Special Purpose Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
7.7 Others
7.7.1 Overview
7.7.2 Others: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
8. Military Vehicle Market Analysis - by Application
8.1 Ground Support Vehicles
8.1.1 Overview
8.1.2 Ground Support Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
8.2 Tactical Warfare
8.2.1 Overview
8.2.2 Tactical Warfare: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
8.3 ISR
8.3.1 Overview
8.3.2 ISR: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
8.4 Military Transportation
8.4.1 Overview
8.4.2 Military Transportation: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
8.5 Others
8.5.1 Overview
8.5.2 Others: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
9. Military Vehicle Market Analysis - by Technology
9.1 Autonomous Vehicles
9.1.1 Overview
9.1.2 Autonomous Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
9.2 Manual Driven Vehicles
9.2.1 Overview
9.2.2 Manual Driven Vehicles: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10. Military Vehicle Market - Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Military Vehicle Market Overview
10.2.2 North America: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.2.3 North America: Military Vehicle Market Breakdown, by Type
10.2.3.1 North America: Military Vehicle Market - Revenue and Forecast Analysis - by Type
10.2.4 North America: Military Vehicle Market Breakdown, by Application
10.2.4.1 North America: Military Vehicle Market - Revenue and Forecast Analysis - by Application
10.2.5 North America: Military Vehicle Market Breakdown, by Technology
10.2.5.1 North America: Military Vehicle Market - Revenue and Forecast Analysis - by Technology
10.2.6 North America: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.2.6.1 North America: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.2.6.2 United States: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.2.6.2.1 United States: Military Vehicle Market Breakdown, by Type
10.2.6.2.2 United States: Military Vehicle Market Breakdown, by Application
10.2.6.2.3 United States: Military Vehicle Market Breakdown, by Technology
10.2.6.3 Canada: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.2.6.3.1 Canada: Military Vehicle Market Breakdown, by Type
10.2.6.3.2 Canada: Military Vehicle Market Breakdown, by Application
10.2.6.3.3 Canada: Military Vehicle Market Breakdown, by Technology
10.2.6.4 Mexico: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.2.6.4.1 Mexico: Military Vehicle Market Breakdown, by Type
10.2.6.4.2 Mexico: Military Vehicle Market Breakdown, by Application
10.2.6.4.3 Mexico: Military Vehicle Market Breakdown, by Technology
10.3 Europe
10.3.1 Europe Military Vehicle Market Overview
10.3.2 Europe: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.3 Europe: Military Vehicle Market Breakdown, by Type
10.3.3.1 Europe: Military Vehicle Market - Revenue and Forecast Analysis - by Type
10.3.4 Europe: Military Vehicle Market Breakdown, by Application
10.3.4.1 Europe: Military Vehicle Market - Revenue and Forecast Analysis - by Application
10.3.5 Europe: Military Vehicle Market Breakdown, by Technology
10.3.5.1 Europe: Military Vehicle Market - Revenue and Forecast Analysis - by Technology
10.3.6 Europe: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.3.6.1 Europe: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.3.6.2 Germany: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.2.1 Germany: Military Vehicle Market Breakdown, by Type
10.3.6.2.2 Germany: Military Vehicle Market Breakdown, by Application
10.3.6.2.3 Germany: Military Vehicle Market Breakdown, by Technology
10.3.6.3 France: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.3.1 France: Military Vehicle Market Breakdown, by Type
10.3.6.3.2 France: Military Vehicle Market Breakdown, by Application
10.3.6.3.3 France: Military Vehicle Market Breakdown, by Technology
10.3.6.4 Italy: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.4.1 Italy: Military Vehicle Market Breakdown, by Type
10.3.6.4.2 Italy: Military Vehicle Market Breakdown, by Application
10.3.6.4.3 Italy: Military Vehicle Market Breakdown, by Technology
10.3.6.5 Switzerland: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.5.1 Switzerland: Military Vehicle Market Breakdown, by Type
10.3.6.5.2 Switzerland: Military Vehicle Market Breakdown, by Application
10.3.6.5.3 Switzerland: Military Vehicle Market Breakdown, by Technology
10.3.6.6 United Kingdom: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.6.1 United Kingdom: Military Vehicle Market Breakdown, by Type
10.3.6.6.2 United Kingdom: Military Vehicle Market Breakdown, by Application
10.3.6.6.3 United Kingdom: Military Vehicle Market Breakdown, by Technology
10.3.6.7 Sweden: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.7.1 Sweden: Military Vehicle Market Breakdown, by Type
10.3.6.7.2 Sweden: Military Vehicle Market Breakdown, by Application
10.3.6.7.3 Sweden: Military Vehicle Market Breakdown, by Technology
10.3.6.8 Norway: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.8.1 Norway: Military Vehicle Market Breakdown, by Type
10.3.6.8.2 Norway: Military Vehicle Market Breakdown, by Application
10.3.6.8.3 Norway: Military Vehicle Market Breakdown, by Technology
10.3.6.9 Denmark: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.9.1 Denmark: Military Vehicle Market Breakdown, by Type
10.3.6.9.2 Denmark: Military Vehicle Market Breakdown, by Application
10.3.6.9.3 Denmark: Military Vehicle Market Breakdown, by Technology
10.3.6.10 Rest of Europe: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.3.6.10.1 Rest of Europe: Military Vehicle Market Breakdown, by Type
10.3.6.10.2 Rest of Europe: Military Vehicle Market Breakdown, by Application
10.3.6.10.3 Rest of Europe: Military Vehicle Market Breakdown, by Technology
10.4 Asia Pacific
10.4.1 Asia Pacific Military Vehicle Market Overview
10.4.2 Asia Pacific: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.3 Asia Pacific: Military Vehicle Market Breakdown, by Type
10.4.3.1 Asia Pacific: Military Vehicle Market - Revenue and Forecast Analysis - by Type
10.4.4 Asia Pacific: Military Vehicle Market Breakdown, by Application
10.4.4.1 Asia Pacific: Military Vehicle Market - Revenue and Forecast Analysis - by Application
10.4.5 Asia Pacific: Military Vehicle Market Breakdown, by Technology
10.4.5.1 Asia Pacific: Military Vehicle Market - Revenue and Forecast Analysis - by Technology
10.4.6 Asia Pacific: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.4.6.1 Asia Pacific: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.4.6.2 Australia: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.6.2.1 Australia: Military Vehicle Market Breakdown, by Type
10.4.6.2.2 Australia: Military Vehicle Market Breakdown, by Application
10.4.6.2.3 Australia: Military Vehicle Market Breakdown, by Technology
10.4.6.3 India: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.6.3.1 India: Military Vehicle Market Breakdown, by Type
10.4.6.3.2 India: Military Vehicle Market Breakdown, by Application
10.4.6.3.3 India: Military Vehicle Market Breakdown, by Technology
10.4.6.4 Japan: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.6.4.1 Japan: Military Vehicle Market Breakdown, by Type
10.4.6.4.2 Japan: Military Vehicle Market Breakdown, by Application
10.4.6.4.3 Japan: Military Vehicle Market Breakdown, by Technology
10.4.6.5 South Korea: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.6.5.1 South Korea: Military Vehicle Market Breakdown, by Type
10.4.6.5.2 South Korea: Military Vehicle Market Breakdown, by Application
10.4.6.5.3 South Korea: Military Vehicle Market Breakdown, by Technology
10.4.6.6 Rest of APAC: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.4.6.6.1 Rest of APAC: Military Vehicle Market Breakdown, by Type
10.4.6.6.2 Rest of APAC: Military Vehicle Market Breakdown, by Application
10.4.6.6.3 Rest of APAC: Military Vehicle Market Breakdown, by Technology
10.5 Middle East and Africa
10.5.1 Middle East and Africa Military Vehicle Market Overview
10.5.2 Middle East and Africa: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.3 Middle East and Africa: Military Vehicle Market Breakdown, by Type
10.5.3.1 Middle East and Africa: Military Vehicle Market - Revenue and Forecast Analysis - by Type
10.5.4 Middle East and Africa: Military Vehicle Market Breakdown, by Application
10.5.4.1 Middle East and Africa: Military Vehicle Market - Revenue and Forecast Analysis - by Application
10.5.5 Middle East and Africa: Military Vehicle Market Breakdown, by Technology
10.5.5.1 Middle East and Africa: Military Vehicle Market - Revenue and Forecast Analysis - by Technology
10.5.6 Middle East and Africa: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.5.6.1 Middle East and Africa: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.5.6.2 South Africa: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.6.2.1 South Africa: Military Vehicle Market Breakdown, by Type
10.5.6.2.2 South Africa: Military Vehicle Market Breakdown, by Application
10.5.6.2.3 South Africa: Military Vehicle Market Breakdown, by Technology
10.5.6.3 Saudi Arabia: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.6.3.1 Saudi Arabia: Military Vehicle Market Breakdown, by Type
10.5.6.3.2 Saudi Arabia: Military Vehicle Market Breakdown, by Application
10.5.6.3.3 Saudi Arabia: Military Vehicle Market Breakdown, by Technology
10.5.6.4 United Arab Emirates: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.6.4.1 United Arab Emirates: Military Vehicle Market Breakdown, by Type
10.5.6.4.2 United Arab Emirates: Military Vehicle Market Breakdown, by Application
10.5.6.4.3 United Arab Emirates: Military Vehicle Market Breakdown, by Technology
10.5.6.5 Turkey: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.6.5.1 Turkey: Military Vehicle Market Breakdown, by Type
10.5.6.5.2 Turkey: Military Vehicle Market Breakdown, by Application
10.5.6.5.3 Turkey: Military Vehicle Market Breakdown, by Technology
10.5.6.6 Rest of Middle East and Africa: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.5.6.6.1 Rest of Middle East and Africa: Military Vehicle Market Breakdown, by Type
10.5.6.6.2 Rest of Middle East and Africa: Military Vehicle Market Breakdown, by Application
10.5.6.6.3 Rest of Middle East and Africa: Military Vehicle Market Breakdown, by Technology
10.6 South and Central America
10.6.1 South and Central America Military Vehicle Market Overview
10.6.2 South and Central America: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.6.3 South and Central America: Military Vehicle Market Breakdown, by Type
10.6.3.1 South and Central America: Military Vehicle Market - Revenue and Forecast Analysis - by Type
10.6.4 South and Central America: Military Vehicle Market Breakdown, by Application
10.6.4.1 South and Central America: Military Vehicle Market - Revenue and Forecast Analysis - by Application
10.6.5 South and Central America: Military Vehicle Market Breakdown, by Technology
10.6.5.1 South and Central America: Military Vehicle Market - Revenue and Forecast Analysis - by Technology
10.6.6 South and Central America: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.6.6.1 South and Central America: Military Vehicle Market - Revenue and Forecast Analysis - by Country
10.6.6.2 Brazil: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.6.6.2.1 Brazil: Military Vehicle Market Breakdown, by Type
10.6.6.2.2 Brazil: Military Vehicle Market Breakdown, by Application
10.6.6.2.3 Brazil: Military Vehicle Market Breakdown, by Technology
10.6.6.3 Rest of South and Central America: Military Vehicle Market - Revenue and Forecast to 2031 (US$ Billion)
10.6.6.3.1 Rest of South and Central America: Military Vehicle Market Breakdown, by Type
10.6.6.3.2 Rest of South and Central America: Military Vehicle Market Breakdown, by Application
10.6.6.3.3 Rest of South and Central America: Military Vehicle Market Breakdown, by Technology