Paramount well positioned to take advantage of global surge in armoured vehicle spending

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Driven by the Russo-Ukraine conflict, armoured vehicle spending is seeing a global renaissance, and Paramount aims to take advantage of this with its 4×4, 6×6 and 8×8 armoured vehicle solutions.

By 2035, the armoured vehicle market will see an anticipated $25.6 billion investment in 8×8 wheeled vehicles, according to a new report released last month.

“This surge in armoured vehicle spending underscores the changing dynamics of global defence,” said Steve Griessel, Group CEO of Paramount. “Drawing from our three-decade legacy of crafting solutions in the world’s most challenging environments, Paramount’s Mbombe armoured vehicle family exemplifies the innovative, adaptable solutions the world urgently needs.”

Defence Insight’s market report shows forecast spending of $25.6 billion on 8×8 vehicle programmes between 2022 and 2035. Notably, the figures for tracked armoured vehicles and main battle tanks are significantly higher, with planned investments of $62.2 billion and $84 billion, respectively.

The report includes a selection of market opportunities handpicked by Defence Insight’s analyst team, including a $1.8 billion Qatari forecast for 2024/25, a $2.8 billion Greek forecast for 2026, and a longer-term forecast for a complete French replacement of its currently upgrading Jaguar EBRC 6×6 and Griffon VBMR 6×6 expected to be initiated by the mid-2030s.

In North America, there are focused investments in various programmes, with the US Army prioritising the procurement of tracked vehicles alongside its ongoing Stryker upgrade cycle and Canada progressing with its LAV 6.0 upgrades and orders replacing legacy M113 tracked APCs.

The report further highlights that the Tracks versus Wheels debate endures, particularly in the context of the Ukraine-Russia conflict. As mobility and armour for almost all roles in the land domain become increasingly critical in the wake of the emergence of loitering munitions, future programmes in the large, armoured vehicle role look set to be contested between 8×8 and tracked alternatives.

At the same time, modularity, offering maintenance and cost advantages, has emerged as a pivotal factor. Through leveraging the comparative advantage of cheaper overhead costs, reduced maintenance burden, and improved strategic mobility, the 8×8 market has the potential to contest both tracked IFVs and Medium/Light tanks globally, Paramount said, noting that its Mbombe armoured vehicle family is optimally positioned to cater to these requirements.

“Paramount is not just a manufacturer; we’re evolving into a technology-driven global OEM. With our focus on IP licensing and global partnerships, we’re shaping solutions that the world is looking for today. Through our portable production concept, we’re targeting partnerships in Europe and the UK, strengthening our position as a global leader,” Griessel explained.