However, the domestic producers are also building third or fourth generation tanks. General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Textron Inc.are some of the major players in the market. The market is however concentrated on both sides with a few producers and buyers fulfilling and creating a major part of the total demand respectively.

Countries are pouring down investments into the procurements of newer generation battle tanks to replace old ones. In the wake of several border tension issues and complex political agendas around the world, Military tanks have become the necessity in today’s world. Army awarded Honeywell a contract valued $1.1B for 1500 engines that will power their M1 Abrams series of tanks. Department of Defense announced a contract valued $4.62B to General Dynamics Land Systems for modernized Abrams M1A2 SEPv3 tanks. Turkey’s ASELSAN has won a $38M contract for Serdar Anti-Tank Missile Launching System and Seda Gunshot Detection System.Army is assessing the next generation “Trophy VPS,” a smaller, lighter, equally-capable variant of Trophy that will provide protection to a broader range of U.S. Russia’s Rosoboronexport unveiled the upgraded version of Armata tank at IDEX-21.Ukraine’s state-owned Ukroboronprom has signed a $86M contract to support and repair Pakistan military’s T-80UD tanks.

Israel’s Rafael Advanced Systems will provide Trophy tank protection systems to Germany for equipping them on the army’s Leopard 2 tanks.

Type of military tanks