Lucintel Projects Global Defense Land Vehicle Industry to Grow at a CAGR of 1.7% During 2014-2020
Irving, TX, March 06, 2014 --(PR.com
)-- Increasing terrorism and domestic disputes are the major factors encouraging deployment of advanced military armaments across the globe. The global defense land vehicle industry is highly dependent on government military expenditures which have seen considerable reduction in the recent years due to economic slowdown. Lucintel expects a flat growth in the industry considering the recent cuts in defense budgets, in North America and Europe, with increasing demand from developing nations. Global defense land vehicle industry is expected to reach $32.7 billion in 2020 promising valuable opportunity for the firms operating across the value chain of defense land vehicle industry.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on this market and presents its findings in “Global Defense Land Vehicle Industry 2014-2020: Trends, Forecast, and Opportunity Analysis.” The report analyses the defense land vehicle industry for all the four regions and analyses the risk factors and growth opportunities. The defense land vehicle industry is segmented by region such as APAC, Europe, NA, and ROW.
Increasing defense budgets in emerging economies, especially in China and India, is a positive sign for the defense land vehicle industry. The Asia Pacific defense land vehicle market is expected to grow with 2.1% CAGR during 2014-2020. Increasing military expenditure in developing economies and geo-political conflicts are expected to drive the industry growth in coming years. North America and Europe will witness moderate growth rate with 1.6% and 1.2% over the next six years mainly due to defense budget reductions.
Lucintel highlights the key challenges faced by the defense land vehicle industry. Declining GDP growth has forced the reduction of government expenditures on defense land vehicle around the world. The other challenge is withdrawal of US military forces from Iraq which has decreased the defense land vehicle demand in US. There are ways through which challenges can be minimized such as increase emphasis on cost-effectiveness of the government spending and avoidance of focus on just one part of defense budget.
The market report provides insights of the market trend (2007-2013) and forecast period (2014-2020) which will assist the interested companies in making key decisions. Deep insights and knowledge about recent innovations and developments in global defense land vehicle industry can help client to gain competitive advantage. Clients may lose the opportunity of getting deep understanding of global defense land vehicle industry with the emerging trends, unmet needs and new product, technological development in global defense land vehicle industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at email@example.com.Lucintel’sManagement Consulting Services include Merger and Acquisition, the Due Diligence Process and Target Screening. To learn more, visit www.lucintel.com.