News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
(USGovernment-News.Com, January 25, 2024 ) Germany expected to emerge as largest West European spender in Armored Vehicles Market . Germany is one of the major exporters of armored vehicles across the globe. In 2018-19, the Ministry of Economic Affairs and Energy of the country approved the transfer of production equipment of Rheinmetall to Algeria for the local construction of Fuchs armored vehicles. The deal with Algeria worth USD 3.00 billion has been closed to build 980 Fuchs 2 vehicles. According to Defense IQ, Germany is expected to emerge as the largest west European spender in the armored vehicles market. The country has adopted Puma Armored Infantry Fighting Vehicles (AIFVs) Project System and Management (PSM) to modernize its army. It involved stepping up the development and full-rate production of 66 units of AIFVs per year, which was achieved in 2017. According to the Government of Germany, 350 units of AIFVs are expected to be supplied to the army of the country by 2020 (reduced from an initial order of 405), while 78 units had already been delivered in 2017.
Germany is actively making efforts to modernize its equipment, particularly its infantry fighting vehicles, and maintain its readiness for any potential conflict. According to GlobalData, German Armed Forces Equipment Inventory 2022, the German Armed Forces had 345 Puma Armored Personnel Carriers from procurement in 2015. In April 2023, Germany ordered second lot upgrades for PUMA infantry fighting vehicles through a joint venture between Krauss-Maffei Wegmann (KMW) and Rheinmetall AG to upgrade 143 PUMA infantry fighting vehicles. According to Voice of America (US), Germany will supply Ukraine with around 40 Marder infantry fighting vehicles.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
