In modern armies, battle tanks are considered one of the key components. The main battle tank is a tank that fills the maneuver role and direct fire role of many modern armies. National security concerns are urging the nations to boost their military strength by getting advanced battle tanks and upgrading their existing warfare equipment. Main battle tanks are organized into armoured units and they operate with the help of infantry. Main battle tanks are deployed on the battlefield and helped by surveillance and ground aircraft. Hence, Main Battle Tanks (MBT) are also called infantry fighting vehicles. Procurements of battle tanks are expected to increase in the future as their need is significantly more to the ground forces, in the rise of several border issues and other activities involving the armies. Due to the aging of Main Battle Tanks, there is an increase in the investments in the MBTs. Countries are giving away more of their investments to buy new MBTs to replace old MBTs. The new MBTs cost very less when compared to western MBTs. In addition, their reduced operating cost and low weight are influencing the military’s procurement decision, to procure them in high quantities. There is an increase in procurement in the countries such as Russia, France, Hungary, Germany, and Thailand. In these countries, demand is high in the future period.
Major Market driving the growth of the Market
There is increased use of MBTs in applications such as fighting and patrolling is one of the factors. Another factor is that technological advancement led to newer models with improved features. Market growth is also due to the rise in economics. Due to increased border-related issues, there is a rise in demand in the global main battle tank market. Another reason for the demand for battle tanks is the rise in the military budget. Technological advancement has resulted in less costly and lightweight weapons, which rises the demand for MBT. There is a boost in the global Main Battle Tank due to an increase in the military budget, constant improvements in weapons performance, and security concerns.
Trends influencing the growth of the market
Because each vehicle is equipped with a variety of sensors, a network is created that gives each unit a better understanding of the environment around them. Sensors improve situational awareness. In addition to ground units, sensors may also communicate with air assets, which is crucial in congested urban situations where verticality comes into play. In order to warn crews of impending dangers from all sides, more modern sensor technology is integrated with cameras and video surveillance for the vehicle. One example is 360-degree field of vision for cameras around the vehicle. Friendly assets receive the information, enabling coordinated strikes. Advanced sensors can ensure early detection of threats and ensure survivability of the platform.
There is also increasing demand for MBTs with remote weapons stations. Remote weapons stations ensures increased chances of survivability of the crew when they are engaged in combat.
Due to border-related issues, hostile activities, and aiming at the nations, the demand for the global main battle tank is increased among the armed forces. Moreover, rise in military budgets is also enhancing the demand for main battle tanks in the global market.
There will be significant demand for MBTs in Europe and Asia Pacific due to geo political tensions. Next generation MBT programmes such as Germany’s Panther MBT program will see increased demand in the European region.
Rafael Advanced defense systems have forged a partnership with Spain-based General Dynamics European land systems and Germany-based Krauss Maffei Wegmann to support the market of the Trophy active protection system in Europe.
The Polish government has secured a deal with South Korea for the sale of self-propelled howitzers (SPHs), main battle tanks, and light combat aircraft in an effort to quicken its comprehensive military modernization project. The gigantic arms deal is expected to cost $14.5 billion, which is more than Poland’s whole $14.1 billion defence budget for the current year. It covers the purchase of 48 FA-50 Golden Eagle light aircraft, 672 K9 “Thunder” SPHs, and 180 K2 Black Panther tanks with Korean design. Many observers are taken aback by the scope and size of the pact, especially in light of Poland’s preference for purchasing U.S.-made weapons wherever possible. The South Korean military sector, however, has invested decades in enhancing its design, engineering, and technological prowess and is now a significant supplier on the international arms market. Its K9 SPH is currently the second-most sought-after mobile artillery piece on the export market, after only Germany’s PzH 2000.