Middle East Military Vehicles Market Size (2024 - 2029)

Middle East Military Vehicles Market Analysis

The Middle East Military Vehicles Market size is estimated at USD 32.22 billion in 2024, and is expected to reach USD 43.73 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).

While countries like Saudi Arabia, Israel, and the United Arab Emirates operate modern military vehicles, several countries in the region possess Soviet-era vehicles that require modernization. Hence, these countries are investing in the procurement of new military vehicles. 

In addition, the aging fleet of military vehicles is also forcing some countries to invest in upgrade programs to improve the efficiency, lethality, and sophistication of the vehicles if they are slated to be effectively functional for some more years. 

While the modernization and expansion of the region's vehicle fleets continue at a healthy pace, the region is also becoming increasingly self-sufficient and independent of foreign countries by developing indigenous manufacturing capabilities. Several countries have been developing military vehicles on their own or are partnering with their foreign counterparts and manufacturing vehicles locally with the help of technology transfer agreements. 

However, factors like fluctuations in oil prices are affecting the economies of several countries in Middle East, in turn affecting growth in military spending.

Middle East Military Vehicles Industry Segmentation

The study provides insights into the procurement, indigenous manufacturing, upgrade activities, and development of military vehicles in the Middle Eastern region. Military vehicles include military aircraft, naval vessels, and armored vehicles. 

The Middle East military vehicles market is segmented by military aircraft, naval vessels, armored vehicles, and geography. By military aircraft, the market is segmented into combat aircraft and non-combat aircraft. By naval vessels the market is segmented into destroyers, frigates, corvettes, submarines, and other naval vessels. The other naval vessels include patrol boats, support vehicles, etc. By armored vehicles the market is segmented into armored personnel carriers, infantry fighting vehicles, mine-resistant ambush protected, main battle tanks, and other armored vehicles. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).