Market Share of Main Battle Tank Industry
The main battle tank market is consolidated and dominated by key defense manufacturers, including General Dynamics Corporation, BAE Systems PLC, Hyundai Rotem Company, Rostec, and KNDS NV.
Strategic partnerships among these players facilitate technology transfers, enhancing their market share and attracting new customers. In a notable move, KNDS and LEONARDO forged a strategic alliance in December 2023. This collaboration focuses on developing, manufacturing, and maintaining the LEOPARD 2 A8 solution for the Italian Army alongside its support platforms. This partnership aligns with the Italian MoD's strategy outlined in the Documento Programmatico Difesa 2023-2025 and the Action Plan of the Agreement between Italy and Germany. Similarly, in March 2022, the British Army initiated the development of its next-generation main battle tank (MBT), the Challenger 3 upgrade. The plan involves upgrading 148 Challenger 2s to Challenger 3s, with an estimated cost of USD 1.3 billion. These upgrades are crucial to maintaining the tank's capabilities through 2040.
Main Battle Tank Market Leaders
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General Dynamics Corporation
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BAE Systems plc
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Rostec
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Hyundai Rotem Company
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KNDS N.V.
*Disclaimer: Major Players sorted in no particular order
