Press Release
Contact: Dean Lockwood, Weapons Systems Analyst
Phone: (203) 426-0800
Fax: (203) 426-1964
Web site: www.forecastinternational.com
E-mail: dean.lockwood@forecast1.com
Forecast International, Inc.
22 Commerce Rd. Newtown, CT 06470 USA
FOR IMMEDIATE RELEASE
Maintaining Bradley Fleet Rivals Spending on New
Light Tracked Vehicles Worldwide
NEWTOWN, Conn. [July 12, 2007] ― The international market for light tracked
vehicles remains a highly competitive and dynamic environment. In its annual
analysis “The Market for Light Tracked Vehicles,” the Forecast International
Weapons Group projects that the market will produce over 13,600 light
tracked vehicles, worth nearly $28.308 billion, through 2016.
Dean Lockwood, a weapons systems analyst at Forecast
International, notes that new production of the top two high-end vehicles – the
Expeditionary Fighting Vehicle (EFV) and the Igel/Puma – will account for only
9.34 percent of all production during the forecast period. Yet, he estimates
these two programs will provide 62.45 percent of the total value of the
light tracked vehicle market through 2016. “For most nations, the expense
associated with the modernization and retrofit of high-end light tracked
vehicles pales in comparison with the prospect of new procurement,” Lockwood
said.
Through FY13, the U.S. Army intends to spend over $5.89
billion on M2/M3 Bradley Fighting Vehicle upgrades. This level of armor system
modernization (ASM) spending clearly indicates a long-term investment in the
U.S. Army’s M2/M3 Bradley fleet, well beyond the anticipated fielding of the Future
Combat Systems (FCS) family of manned ground vehicles in FY14. Indeed,
according to the FY08/FY09 budget request documentation (February 2007), the
U.S. Army now intends to maintain the Bradley Fighting Vehicle System in active
service for another 45 years. This U.S. Army investment in the
maintenance and upgrade of the existing Bradley fleet is equivalent to about
20.8 percent of the value of all new-production light tracked vehicles
scheduled to roll out worldwide through 2016.
“While transparent to this market analysis, maintenance of
the existing Bradley Fighting Vehicle fleet in U.S. Army service is effectively
the third most valuable light tracked vehicle program on the international
market,” Lockwood stated.
In terms of sheer numbers, China’s Type 90 armored personnel
carrier (APC) and the Type 90 mechanized infantry combat vehicle (MICV)
represent the most significant light tracked vehicle production runs of the
forecast period. As the People’s Liberation Army (PLA) standardizes its
mechanized forces around the Type 90 APC and MICV, Forecast International expects
that combined production of these two vehicles will account for 45.44 percent
of all new light tracked vehicle production worldwide, worth 9.05 percent of
the market, through 2016.
Although the light tracked vehicles in service today are all
products of the Cold War, they are far from relics destined for the scrap heap.
Since the U.S. 3rd Infantry Division (Mechanized) executed its Thunder Run to Baghdad
in 2003, the light tracked vehicle has soldiered on as a significant force
multiplier on the modern asymmetric battlefield.
Forecast International, Inc., is a leading provider of
Market Intelligence and Analysis in the areas of aerospace, defense, power
systems and military electronics. Based in Newtown, Conn., USA, Forecast
International specializes in long-range industry forecasts and market
assessments used by strategic planners, marketing professionals, military
organizations, and governments worldwide. To arrange an interview with
Forecast International’s editors, please contact Ray Peterson, Vice President,
Research & Editorial Services (203-426-0800, ray.peterson@forecast1.com).
