The Military Vehicle Sustainment Market is projected to grow from USD 16.8 Billion in 2023 to USD 23.5 Billion by 2028, at a CAGR of 7.0% during the forecast period. The growing demand for Military Vehicles and to maintain and upgrade the old military vehicles are projected to propel the Military Vehicle Sustainment market in the upcoming years.
Major service providers in this market are based in North America and Europe. Rheinmetall AG , BAE Systems, Elbit Systems Ltd., General Dynamics Corporation and Oshkosh Corporation are among a few leading players operating in the Military Vehicle Sustainment market. Sustainment services for military vehicles includes Maintenance, Repair, Upgradation, Modernization and Lifecycle Support. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to further expand their presence in the Military Vehicle Sustainment market.
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Rheinmetall AG is Germany based multinational company known for its expertise in military technology. The company supports the British Army’s armored vehicle fleets and other vehicles through post-design services and provides a comprehensive spares and repairs service and field support to UK and international customers. Rheinmetall AG provides services like repair, maintenance, life cycle support, spare parts, factory overhaul, fleet management, training & advisory, mission support, and optimum solutions for military vehicles. The company generates its revenue through its 132 locations globally.
BAE Systems is one of the leading providers of advanced defense, aerospace, and security solutions. The company offers innovative and cost-effective modifications, asset management, and repairs to military and commercial customers around the world. The company manufactures and upgrades combat vehicles, weapons, and munitions, and delivers services and sustainment activities, including naval ship repair, and the management and operation of government-owned munitions facilities through the Platforms & Services segment. BAE Systems supports national defense capabilities and partners with various governments and armed forces worldwide.
General Dynamics Copration
General Dynamics Corporation is a global aerospace and defense company. General Dynamics Corporation is a major supplier to the US Department of Defense, and its products and services are used by all branches of the US military. General Dynamics Corporation Subsidiary General Dynamics Land Systems leading provider of combat vehicles, wheeled vehicles, and weapons systems. The General Dynamics Land Systems is a global leader in designing, engineering, producing, supporting, and sustaining tracked and wheeled military equipment.
Elbit Systems Ltd.
Elbit Systems is an Israel based aerospace and defense company that specializes in a wide range of advanced technologies and solutions for the global defense. The company provides military aircraft and helicopter systems, commercial aviation systems and aerostructures,unmanned aircraft systems (UAS), electro-optic, night vision, and countermeasures systems, naval systems, land vehicle systems, command, control, communications, computer, intelligence, surveillance, and reconnaissance (C4ISR) systems, cyber systems, electronic warfare and signal intelligence systems, and other commercial activities.
Oshkosh Defense Corporation
Oshkosh Defense Corporation is a global leader in the design, production and sustainment of best-in-class military vehicles and mobility systems. Oshkosh Corporation is a US-based industrial technology company that designs and builds specialty trucks, military vehicles, truck bodies, airport fire apparatus, and access equipment. Oshkosh Defense Corporation develops and applies emerging technologies that advance troop safety and mission success. Oshkosh Defense Corporation offers life cycle management, fleet modernization, training, field service support, parts, and kits for military vehicle sustainment along with 24/7 support with worldwide parts distribution and expert maintenance services.
Military Vehicle Sustainment Market by Vehicle Type (Armored Vehicles, Military Trucks), Service (Maintenance, Repair, & Overhaul (MRO), Training & Support, Parts and Components Supply, Upgrades & Modernization), End User & Region- Global Forecast to 2028
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