![]() The firms in this industry compete on price, quality, and customer service. The US is the largest market for these products, but Europe and Asia are also important markets. The products made by these companies are used by militaries all over the world, so the firms have a global reach. The products they produce are complex and expensive, so there is a high barrier to entry for new firms. These companies include General Dynamics Corporation, Bae Systems Plc, Oshkosh Corporation, Textron Inc., and Navistar International Corp. The five companies that make up the industry are all large, multinational firms with a long history in the defense sector. The US tank and armored vehicle manufacturing industry is small but highly competitive. Let’s take a look at who makes tanks and how they do it. In fact, there are other companies that manufacture the vast majority of tanks used by militaries around the globe. But what you may not know is that tanks aren’t just made by the military. What comes to mind when you think of tanks? The military, right? Tanks are a vital part of the defense arsenal of many countries across the world.
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