Key Trend in the Global Land-Based Defense Equipment Market 2024: Increasing Adoption of Cornershot Rifles in Defense

Land-Based Defense Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The land-based defense equipment market has experienced significant growth in recent years. It is projected to increase from $60.11 billion in 2023 to $65.13 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.4%. This growth during the historical period can be linked to rising military budgets, geopolitical tensions, evolving threat landscapes, strategic alliances, and operational demands.

What Is the Expected Size of the Global Land based Defense Equipment Market, and How Fast Will It Grow?
The land-based defense equipment market is anticipated to experience substantial growth in the coming years. It is projected to reach $81.85 billion by 2028, with a compound annual growth rate (CAGR) of 5.9%. This growth during the forecast period can be attributed to the emergence of new threats, budget allocations, the evolving global security landscape, international collaboration, and modernization strategies.

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What Is Accelerating Growth in the Land based Defense Equipment Market?

The increasing defense spending is expected to significantly drive the growth of the land-based defense equipment market in the future. Defense spending refers to the financial resources that governments allocate to support their armed forces and military activities. This funding is crucial for the development, procurement, and maintenance of land-based defense equipment. It provides financial support for research and development (R&D) programs that focus on designing and creating advanced defense systems. Additionally, these funds are essential for the regular maintenance, repair, and upgrades of existing land-based equipment to ensure operational readiness and effectiveness in the face of emerging threats.

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Who Are the Major Players Influencing the Land based Defense Equipment Market's Growth?
Key players in the land based defense equipment market include China North Industries Group Corporation Limited, Raytheon Company, Lockheed Martin Corporation, Hanwha Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, Thales Group, Leonardo S.p.A., Oshkosh Corporation, Science Applications International Corporation (SAIC), Rheinmetall AG, Elbit Systems Ltd., Larsen & Toubro Limited, Hindustan Aeronautics Limited, Bharat Electronics Limited, Hyundai Rotem Company, Uralvagonzavod, IMI Systems, RUAG Group, IVECO Defence Vehicles, Nexter Group, Patria Oyj, FNSS Savunma Sistemleri A.S.

What Are the Latest Trends Influencing Land based Defense Equipment Market Size?

CornerShot rifles are gaining popularity in the defense sector. These weapons feature a steel hinge that enables the gun’s frame to pivot around corners, allowing users to engage targets without exposing themselves. Equipped with a high-resolution camera and LCD monitor, these rifles facilitate shooting from behind cover. CornerShot rifles are commonly utilized in armored vehicles and tanks, mounted on a turret to provide a full 360-degree field of vision while the shooter stays safely inside. The weapon delivers accuracy and effectiveness at distances ranging from 100 to 200 meters, depending on the specific model. This design minimizes the need for initial exposure.

How Is The Global Land based Defense Equipment Market Segmented?
1) By Type: Armored Vehicles, Missiles, Tanks, Small Arms and Light Weapons
2) By Operation: Autonomous Land based Defense Equipment, Manual
3) By Application: Military, Law Enforcement

Geographical Insights: Asia-Pacific Leading The Land based Defense Equipment Market
Asia-Pacific was the largest region in the market in 2023. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition Of The Land based Defense Equipment Market?
Land-based defense equipment encompasses a range of support and auxiliary systems utilized in ground defense operations. This category includes various weapons and associated components designed to enhance military capabilities. Key elements of land-based defense equipment consist of turrets and remote-operated weapon stations (ROWS), cannons, and missiles, along with armor packages and active protection systems.

The Land based Defense Equipment Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Land based Defense Equipment Market Report: Trends, Opportunities, Strategies, and More
The Land based Defense Equipment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into land based defense equipment market size, land based defense equipment market drivers and trends, land based defense equipment competitors' revenues, and land based defense equipment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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