Global Armored Vehicle Market Sees $25.6 Billion Surge in 8×8 Wheeled Vehicles Amidst Rising Tensions
In the wake of escalating global tensions following the Russo-Ukraine conflict, the armored vehicle market is undergoing a significant transformation, with an expected $25.6 billion investment in 8×8 wheeled vehicles by 2035.
Influenced by the Russo-Ukraine conflict, the world of armored vehicle spending is witnessing a resurgence. Beyond the attention-grabbing main battle tanks and tracked Infantry Fighting Vehicle (IFV) programs, there is a growing focus on 8×8 wheeled armored vehicles over the next six years.
A recent report sheds light on several key findings regarding the future of the 8×8 armored vehicle market. This includes the growing importance of Rapid Strategic Mobility, the demand for armored Command and Control (C2) vehicles, and the potential for 8×8 wheeled platforms to replace medium/light tanks in African and South American markets.
According to Defense Insight’s market report, spending on 8×8 vehicle programs is projected to reach $25.6 billion between 2022 and 2035. Notably, the figures for tracked armored vehicles and main battle tanks are considerably higher, with planned investments of $62.2 billion and $84 billion, respectively.
The report identifies specific market opportunities, including a $1.8 billion forecast for Qatar in 2024/25, a $2.8 billion forecast for Greece in 2026, and a longer-term forecast for France to replace its Jaguar EBRC 6×6 and Griffon VBMR 6×6 with 8×8 wheeled vehicles by the mid-2030s.
In North America, there are targeted investments in various programs. The US Army is prioritizing the procurement of tracked vehicles while Canada is progressing with its LAV 6.0 upgrades and orders, replacing legacy M113 tracked Armored Personnel Carriers (APCs).
The report also highlights the enduring debate between tracks and wheels, particularly in the context of the Ukraine-Russia conflict. As mobility and armor become increasingly critical in land-based operations due to the emergence of loitering munitions, future large armored vehicle programs are expected to be contested between 8×8 and tracked alternatives.
Modularity is emerging as a crucial factor, offering maintenance and cost advantages. By leveraging the advantages of lower overhead costs, reduced maintenance burdens, and improved strategic mobility, the 8×8 market has the potential to compete globally with tracked IFVs and medium/light tanks.
Paramount’s Mbombe armored vehicle family is strategically positioned to meet these evolving requirements. At the forefront of armored vehicle technology, the Mbombe family offers unmatched protection levels to ensure the safety of military personnel.
According to Paramount’s spokesperson, “Paramount is not just a manufacturer; we’re evolving into a technology-driven global OEM. With our focus on IP licensing and global partnerships, we’re shaping solutions that the world is seeking today. Through our portable production concept, we’re targeting partnerships in Europe and the UK, strengthening our position as a global leader.”
Paramount’s portable production concept involves locating manufacturing activities within customer countries to produce and sustain armored vehicle fleets, promote indigenous innovation, and provide long-term support. Collaborating with industrial partners enables nations to access modular and proven options for upgrading their armored vehicle capacity.
In conclusion, the global armored vehicle market is experiencing a significant shift towards 8×8 wheeled vehicles, driven by geopolitical tensions and the need for rapid mobility and strategic agility. Paramount’s Mbombe family, along with other key players, is well-positioned to meet the evolving demands of this dynamic market.
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