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2024 U.S. Industry Statistics & Market Forecast - Military Armored Vehicle, Tank, and Tank Component Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Military Armored Vehicle, Tank, and Tank Component Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Military Armored Vehicle, Tank & Tank Component Manufacturing industry is experiencing various significant trends. One of the most prominent trends is the growing importance of technology. The industry is seeing increased investment in advanced technologies to make military armored vehicles and tanks more sophisticated, effective, and efficient. This includes initiatives regarding autonomous vehicles and artificial intelligence, electronic warfare, and advanced armaments.Another significant trend is the shift from conventional propulsion systems to hybrid-electric powertrains. Fuel-efficient and environmentally-friendly hybrid systems are being developed and applied to armored combat vehicles and tanks, leading to increased operational efficiencies and cost savings.
Another trend worth mentioning is that the industry is adapting to changing military demands and priorities. Manufacturers are moving toward producing lighter and more maneuverable vehicles and reducing aspects like crew size and protection to maintain speed. Additionally, there is an increasing focus on the export of military vehicles, leading to more global competition within the industry.
Lastly, there is a notable trend and challenge in the industry toward facilitating the maintenance and sustainment of armored military vehicles. Manufacturers are seeking innovative solutions to improve maintenance practices and reduce lifecycle costs of vehicles while meeting operational requirements. This includes improving supply chain management and leveraging digital technologies to optimize maintenance procedures.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Military Armored Vehicle, Tank, and Tank Component Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Military Armored Vehicle, Tank, and Tank Component Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Military Armored Vehicle, Tank, and Tank Component Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Architecture and Engineering Occupations | 7% | |||
| Engineers | 5% | |||
| Office and Administrative Support Occupations | 8% | |||
| Installation, Maintenance, and Repair Occupations | 9% | |||
| Production Occupations | 52% | |||
| Assemblers and Fabricators | 21% | |||
| Miscellaneous Assemblers and Fabricators | 19% | |||
| Metal Workers and Plastic Workers | 17% | |||
| Welding, Soldering, and Brazing Workers | 12% | |||
| Welders, Cutters, Solderers, and Brazers | 11% | |||
| Other Production Occupations | 10% | |||
| Transportation and Material Moving Occupations | 8% | |||
| Material Moving Workers | 7% | |||
| Laborers and Material Movers | 5% | |||
Military Armored Vehicle, Tank, and Tank Component Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Military Armored Vehicle, Tank, and Tank Component Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Military Armored Vehicle, Tank, and Tank Component Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Military Armored Vehicle, Tank, and Tank Component Manufacturing industry. |
Source:
Innovation News
- May 04, 2021: Southern California Gold Products trademarks "GYPSY RACK" - GAS CAN RACK FOR VEHICLES
- Dec 03, 2020: Howe & Howe Technologies patents Vehicle With Deployable Towing Wheels
- Nov 04, 2020: Howe & Howe Technologies trademarks "GRIZZLY" - Autonomous robotic transport vehicle used to carry payload in the defense and first responder fields
- Aug 04, 2020: Howe & Howe Technologies trademarks "BIG DOG" - Fire trucks; fire trucks for use in wildlands
- Oct 17, 2019: Howe & Howe Technologies patents Vehicle With Pneumatically Suspended Operator Compartment
- Oct 17, 2019: Howe & Howe Technologies patents Vehicle With Pneumatically Suspended Operator Compartment
Recent Federal Contracts for Military Armored Vehicle, Tank, and Tank Component Manufacturing- Apr 01, 2024: JANKEL TACTICAL SYSTEMS, LLC (Duncan, SC) awarded $78,801
- Mar 25, 2024: SNF, INC. (Fort Worth, TX) awarded $318,532
- Mar 24, 2024: ALPINE ARMORING INC. (Chantilly, VA) awarded $1,342,400
- Mar 22, 2024: SQUARE ONE ARMORING SERVICES CO. (Miami, FL) awarded $2,775,000
- Mar 22, 2024: GLOBE TRAILER MANUFACTURING INCORPORATED (Bradenton, FL) awarded $40,561
- Mar 19, 2024: ROSHEL LLC (Dover, DE) awarded $39,511,157
- Apr 01, 2024: JANKEL TACTICAL SYSTEMS, LLC (Duncan, SC) awarded $78,801
- Mar 25, 2024: SNF, INC. (Fort Worth, TX) awarded $318,532
- Mar 24, 2024: ALPINE ARMORING INC. (Chantilly, VA) awarded $1,342,400
- Mar 22, 2024: SQUARE ONE ARMORING SERVICES CO. (Miami, FL) awarded $2,775,000
- Mar 22, 2024: GLOBE TRAILER MANUFACTURING INCORPORATED (Bradenton, FL) awarded $40,561
- Mar 19, 2024: ROSHEL LLC (Dover, DE) awarded $39,511,157
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