Armored Vehicle Market Growth in Germany
Chicago, Feb. 06, 2024 (GLOBE NEWSWIRE) — Germany expected to emerge as largest West European spender in 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.
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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.
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