Ground Defense System Market to Grow at a CAGR of 6.27% During the Forecast Period from 2019 to 2024

FREMONT, Calif. - June 30, 2021 - PRLog -- Over the last decade, the defense industry has been witnessing a massive transformation owing to the increasing development of technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (MI). The increased need for efficiency and accuracy, rising labor cost, and unavailability of skilled labor have shifted the focus of enterprises from conventional defense system to a modernized artificial intelligence-based defense system. The market is undergoing a major transformation with varied applications of autonomous vehicles for various roles in defense, such as in explosive ordinance disposal, intelligence, surveillance, and reconnaissance, mine clearance, combat support, and firefighting.

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There has been a significant development in the modernization of ground defense systems which increase the mobility, survivability, and lethality of ground defense vehicles. This is primarily due to the rising inflow of defense budgets across the globe on account of increasing extent of conflicts among various countries. In defense and security application, the ground defense systems are used for combat, logistic & transportation, search & rescue explosive ordinance disposal, intelligent, surveillance & reconnaissance, mine clearance, firefighting, engineering and recovery support. Ground defense vehicles such as main battle tanks, infantry fighting vehicles, self-propelled artillery, multiple launch rocket systems, armored personnel carrier, mine resistant ambush protected vehicles, tactical armored vehicles, light utility vehicles, amphibious and military engineering vehicles are the major types of vehicles which comprise different kinds of electronic and mechanical systems for optimum operation. These vehicles are capable of handling various activities that include combat capabilities, cognitive capabilities, sensing emotion, intelligence, and surveillance & reconnaissance.

The global ground defense system industry is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the ground defense system industry exhibits an inclination toward emerging strategies and developments by market players.

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The key players that are actively participating in the ground defense system market include BAE Systems (U.K.), QinetiQ (U.K.), Elbit Systems Ltd. (Israel), IVECO DEFENCE VEHICLES (U.K.), Denel Land Systems (South Africa),  Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Navistar Defense (U.S.), Oshkosh Defense (U.S.), Rheinmetall AG (Germany), Israel Aerospace Industries (Israel), General Dynamics Corporation (U.S.), Harris Corporation (U.S.), Clearpath Robotics Inc. (Canada), FLIR Systems Inc. (U.S.), and Thales Group (France), among others.