Industry Statistics and Trends
Military Fighting Vehicle Manufacturing in Europe key trends
France & Germany dominate European manufacturing revenue.
According to Eurostat, Germany and France collectively generated 70.1% of military fighting vehicle manufacturing revenue in 2020, hosting the industry’s major player, KMW+NEXTER Defense Systems NV.
Foreign threats increase defence spending budgets.
Many European and NATO governments have committed to spending over 2% of annual GDP on defence. The European defence budget's progressive and strategic expansion will boost new orders.
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Military Fighting Vehicle Manufacturing in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Military Fighting Vehicle Manufacturing in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 4.7 % over the past five years, to reach an estimated €5.4bn in 2024.
Trends and Insights
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Military Fighting Vehicle Manufacturing in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
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Revenue
€5.4bn
Employees
12,202
Wages
€XXX.Xm
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Military Fighting Vehicle Manufacturing in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
KMW+NEXTER Defense Systems NV | 3,732.5 | 116.6 | 3.1 | |
Rheinmetall MAN Military Vehicles GmbH | 7,202.3 | 849.0 | 11.8 | |
BAE Systems plc | 28,017.7 | 3,142.1 | 11.2 |
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Military Fighting Vehicle Manufacturing in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Military Fighting Vehicle Manufacturing industry in Europe in 2024?
The market size of the Military Fighting Vehicle Manufacturing industry in Europe is €5.4bn in 2024.
How many businesses are there in the Military Fighting Vehicle Manufacturing in Europe industry in 2024?
There are 79 businesses in the Military Fighting Vehicle Manufacturing industry in Europe, which has grown at a CAGR of 3.7 % between 2019 and 2024.
Has the Military Fighting Vehicle Manufacturing industry in Europe grown or declined over the past 5 years?
The market size of the Military Fighting Vehicle Manufacturing industry in Europe has been declining at a CAGR of 4.7 % between 2019 and 2024.
What is the forecast growth of the Military Fighting Vehicle Manufacturing industry in Europe over the next 5 years?
Over the next five years, the Military Fighting Vehicle Manufacturing industry in Europe is expected to grow.
Which countries have the most businesses in the Military Fighting Vehicle Manufacturing industry in Europe?
The European country with the most businesses in the Military Fighting Vehicle Manufacturing industry is United Kingdom.
How competitive is the Military Fighting Vehicle Manufacturing industry in Europe?
The level of competition is moderate and steady in the Military Fighting Vehicle Manufacturing industry in Europe.
Related Industries
This industry is covered in 37 countries
- Military Fighting Vehicle Manufacturing in Norway
- Military Fighting Vehicle Manufacturing in the UK
- Military Fighting Vehicle Manufacturing in Europe
- Military Fighting Vehicle Manufacturing in Denmark
- Military Fighting Vehicle Manufacturing in Austria
- Military Fighting Vehicle Manufacturing in Poland
- Military Fighting Vehicle Manufacturing in Slovakia
- Military Fighting Vehicle Manufacturing in Latvia
- Military Fighting Vehicle Manufacturing in Portugal
- Military Fighting Vehicle Manufacturing in Czechia
- Military Fighting Vehicle Manufacturing in Germany
- Military Fighting Vehicle Manufacturing in Finland
- Military Fighting Vehicle Manufacturing in France
- Military Fighting Vehicle Manufacturing in the Netherlands
- Military Fighting Vehicle Manufacturing in Croatia
- Military Fighting Vehicle Manufacturing in Sweden
Table of Contents
About this industry
Industry definition
Manufacturers in this industry make military fighting vehicles, including tanks, armoured amphibious military vehicles, troop carriers and other military fighting vehicles like armoured personnel carriers. The industry also encompasses the repair and maintenance of military fighting vehicles.
Related Terms
What's included in this industry?
Companies
KMW+NEXTER Defense Systems NVRheinmetall MAN Military Vehicles GmbHBAE Systems plcIndustry Code
304 - Manufacture of military fighting vehicles in Europe
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Military Fighting Vehicle Manufacturing in Europe industry (2011 -2029)
- Employees in the Military Fighting Vehicle Manufacturing in Europe industry (2011 -2029)
- Business in the Military Fighting Vehicle Manufacturing in Europe industry (2011 -2029)
- Profit in the Military Fighting Vehicle Manufacturing in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Military Fighting Vehicle Manufacturing in Europe industry?
Outlook
Analysis
What's driving the Military Fighting Vehicle Manufacturing in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Military Fighting Vehicle Manufacturing in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Military Fighting Vehicle Manufacturing in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
The Russia-Ukraine conflict boosts orders of wheeled armoured military vehicles. In July 2023, Rheinmetall announced it would open an armoured vehicle plant in West Ukraine at an estimated cost of €200 million, with a capacity to produce 400 vehicles annually.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Military Fighting Vehicle Manufacturing in Europe industry's products and services performing?
Analysis
What are innovations in the Military Fighting Vehicle Manufacturing in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Military Fighting Vehicle Manufacturing in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Manufacturers compete on quality, innovation, delivery times and reputation. Quality competition is solid between manufacturers and high production costs mean companies must secure large orders to make manufacturing worthwhile.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for KMW+NEXTER Defense Systems NV
- Countries of operation for Rheinmetall MAN Military Vehicles GmbH
- Countries of operation for BAE Systems plc
- Countries of operation for General Dynamics European Land Systems GmbH
- Countries of operation for Iveco Defence Vehicles SpA
- Countries of operation for NPO Uralvagonzavod AO
- Countries of operation for Arquus SAS
- Countries of operation for Ukrainska Oboronna Promyslovist
- Countries of operation for Koc Holding AS
- Countries of operation for CN ROMARM SA
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
European countries often dedicate a fixed proportion of their GDP to spending on military and defence. According to the European Commission, general government expenditure in the EU on defence amounted to 1.3 % of GDP in 2021. However, this share is increasing (>2%) in response to the Russia-Ukraine conflict. Increased GDP in the EU boosts revenue potential for military fighting vehicle producers.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Military Fighting Vehicle Manufacturing in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Just-in-Time productions leave manufacturers vulnerable to supply chain disruption. Military vehicle production uses Just-in-Time manufacturing, meaning parts scarcity massively disrupts supply chains and elevates production costs.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Military Fighting Vehicle Manufacturing in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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