MRO Magazine

Modular Floating Bridge Segment Considered to be the Largest Product Segment of the Global Military Floating Bridge Market Through 2020, Says Technavio


May 23, 2016
By Business Wire News

LONDON

The global military floating bridge marketis expected to grow at a CAGR of approximately 4.61% during the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global military floating bridge market for 2016-2020. Based on product, the market is classified into two segments, including modular floating bridge and self-propelled floating bridge. As of 2015, the modular floating bridge segment dominated the market by obtaining about 65% of the overall market share.

Technavio’s research study segments the global military floating bridge market into the following regions:

  • EMEA
  • Americas
  • APAC

EMEA: largest military floating bridge market

The military floating bridge market in EMEA has grown significantly over the years, leading to its dominance of the global market in 2015 with 40.69% of the overall market share. Soon after the end of the Cold War, littoral warfare emerged as an area of key interest among European countries. Technologically advanced rafts, pontoon bridges, and ferries were brought into service with the armed forces due to the presence of major rivers flowing across Europe. Currently, due to the changing modern warfare, the deployment of small and fragmented troops with armored vehicles has evolved the need for highly maneuverable bridging systems.

Due to the economic crisis in Europe from the end of 2009, many countries have undergone cuts in defense expenditure or downsized their procurement programs. However, the crisis in Ukraine, which began in November 2013, and the enhancement of Russian interest in building their military, have put European countries on high alert. “Therefore, European countries, despite economic woes, are required to maintain their military strength and modernize their existing military equipment, including military floating bridges and auxiliary systems. Hence, the EMEA region will continue to dominate the global military floating bridge market over the next four years although their market share has been predicted to decline a tad,” says Arushi Thakur, a lead analyst at Technavio for defense research.

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Military floating bridge market in the Americas

The US has been the most important single largest user of defense equipment and systems over the last five decades. It also has a large base of field military troops and logistic systems. However, the US faced hurdles in multiple combat missions for not being able to deploy and support its units with advanced floating bridge systems. Therefore, in 2001, the US Department of Defense (DoD) initiated a program for the development of IRBs in collaboration with Germany-based defense solution provider GDELS. Since then, GDELS has supplied IRBs worth USD 233 million to the Tank Automotive Command (TACOM) of the US Army under different multi-year requirement contracts.

In July 2015, the Product Management Office of the US Army had procured a new BEB, XM30, for replacing the three decades old Mk II BEB platform. The new BEB will enhance the bridge emplacement capabilities of the engineering regiments of the US MRBC.

Military floating bridge market in APAC

During the forecast period, APAC is estimated to experience a relatively higher growth in the demand for military floating bridges due to the enhancement of the military inventories in emerging countries like China and India. As the economic pressure eases due to eventual economic recovery in Western countries, the market in APAC is expected to strengthen its position further for procurement programs for military floating bridges.

Additionally, the emerging countries in APAC are also investing in the modernization of military logistics systems and equipment to enhance the mobility of their combatants. Countries like India, China, and South Korea are investing heavily in many programs focused on the indigenisation of military equipment and systems. “India’s aggressive push on the ‘Make in India’ initiative, which was launched in September 2014, coupled with probable collaborations with recognized vendors in the global defense industry, will also propel the opportunity forward in the APAC region,” adds Arushi.

Some of the top vendors in the global military floating bridge market highlighted in the report are:

  • AM General
  • China Harzone Industry
  • CNIM
  • Jiangsu Bailey Steel Bridge
  • General Dynamics
  • RPC Technologies

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio Research
Jesse Maida
Media & Marketing Executive
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