By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue North America held the largest share of 37% in the Defense Light Tactical Vehicle market in 2022 and is expected to maintain its dominance during the forecast period. North America, a significant regional market for defense light tactical vehicles, is upheld by solid technological developments in military vehicles and rise in cross border activities in the region.
Additionally, law enforcement and security agencies are increasingly investing in tactical vehicles to address various threats, including terrorism, drugs smuggling, human trafficking and other organized crime in the region. Technological advancements, such as improved armor materials and advanced sensors, are enhancing the effectiveness and versatility of tactical vehicles in the region. US Customs and Border Protection’s (CBP) Border Patrol and Office of Field Operations (OFO) together seized nearly 549,000 pounds of illicit drug substances in the country during 2023. Most seizures concerned marijuana (150,000 pounds) and methamphetamine (140,000 pounds), but a notable and growing portion consisted of fentanyl (27,000 pounds).
The rise in human trafficking activities has also led to rise in patrol activities thereby increasing the demand for light tactical vehicles in the region. According to the data by Bureau of Justice Statistics, 2,198 persons were referred to U.S. Attorneys for human trafficking offenses in fiscal year 2020, a 62% increase from the 1,360 persons referred in 2011. Similarly, according to Statistics Canada, 3,996 incidents of human trafficking have been reported to police services in Canada between the years 2012 to2022.
According to government statistics, the U.S. Border Patrol reported more than 1.6 million encounters with migrants along the U.S.-Mexico border in the 2021 fiscal year, more than quadruple the number of the prior fiscal year and the highest annual total on record.
Figure3: DEFENSE LIGHT TACTICAL VEHICLE MARKET SIZE BY REGION 2022&2032
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Recent Development News for Defense Light Tactical Vehicle Market
In September 2023, BAE Systems signed an agreement with Larsen & Toubro to provide its articulated all-terrain vehicle (AATV), the BvS10, to an Indian army. An articulated vehicle is a vehicle that is comprised of two or more separate frames that are joined together by a certain type of coupling. The vehicle has a swivel joint that is semi-permanent or permanent allowing the vehicle to negotiate sharper turns than other vehicles. Among the articulated vehicles are buses, trams and trains.
In August 2023, AM General sealed a contract with Navistar Defense for the production of an approximated volume of 10000 JLTV trailers. The JLTV trailer subcontract enables the company to further broaden its business portfolio, boost growth in Mississippi and expand its business, stated Wright.
Oshkosh Defense in February, 2023 exhibited a four-door model Oshkosh Joint Light Tactical Vehicle (JLTV) with an OGPK at International Defense Exhibition and Conference 2023 which took place at Abu Dhabi, UAE.
In the year 2022, the earnings of Oshkosh Defense through contracts will be over USD 263.2 million. Through a fixed price contract offered by the Department of Defense, Oshkosh Defense was able to secure a contract to supply 466 Enhanced Heavy Equipment Transporter System (EHETS) trailers and logistics support. The vehicles will be produced within the time period of 2022-2027 and through Dutch subcontractor Broshuis B.V’s support. In addition to this, North America has a number of important defense contractors and manufacturers that engage light tactical vehicle production.
These companies have a strong R&D focus and therefore, were able to obtain advanced vehicle platforms and arising technologies.
According to a report published in June 2024, GM Defense wants British brand vehicles to lead the way in sales of militarized models used by special operations units as the European commercial business of their parent company improves.
