Armored Vehicle Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025

Global Armored Vehicle Market is projected to be valued $38 Billion by 2024; with a CAGR of 4.8% from 2017 to 2024. An armored vehicle is an armed combat vehicle protected by armor,     generally combining operational mobility with offensive and defensive potential. Armored vehicles were wholly owned and used by military, law enforcement, ministers and diplomats, but in recent years, the vehicles are witnessing high demand in prominent figures from corporate businessmen, VVIPs and celebrities.The constantly increasing security challenges are the main reasons for the adoption of armed vehicles by various government bodies as well as civilians.

Increasing internal & external security threats and increasing violence in countries such as Syria, Iraq and other regions in the world are driving global armored vehicle market. Increasing defense expenditure especially in emerging economies and increasing popularity of rental & leasing of armored cars among civilians also supports the growth of the market. However, lack of standardization, regulatory rules and limited defense budgets may hinder the growth of the market. Furthermore, need for light weight armored vehicles and increasing demand from commercial sectors is likely to provide market opportunities in the coming years.

The global armored vehicle market is categorized into type, technology, application and geography. By type, the market is segmented into infantry fighting vehicles, main battle tanks, light protected vehicles, armored personnel carriers, armored amphibious vehicles, mine-resistant ambush protected and others. Technology segment is bifurcated into inter operable communication, electric armor, active protection systems, situational awareness, active mine protection, modular ballistic armor, and vehicle information integration. Furthermore, by applications, it is segmented into military, law enforcement and commercial.

By geography the global armored vehicle market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and others. Asia-Pacific covers China, India, Japan and others. RoW covers South America, Middle East and Africa.

The key players in the armored vehicle market include BAE Systems, Denel Land Systems, Oshkosh Defense, RheinmetallL and systeme GmbH, International Armored Group, Lockheed Martin, Thales Group, General Dynamics Corporation, Elbit Systems Ltd. and INKAS Armored Vehicle Manufacturing, among others.

The key takeaways from the report

  • The detailed analysis of Global Armored Vehicle Market with respect to key segments such as type, technology, application and geography has been included in the report
  • The report comprises the qualitative and quantitative analysis of the market with market estimation over 2016 – 2025 and CAGR between 2017 and 2025
  • Comprehensive analysis of market dynamics including Growth factors, restraining factors and opportunities will be provided in the report
  • An exhaustive regional and country wise analysis of Global Armored Vehicle Market has been covered in the report
  • Profile of the major key players operating in the Global Armored Vehicle Market will be provided, with detailed study on their key financials, product & services, new developments and business strategies.

Scope of Armored Vehicle Market

Type Segments

  • Infantry Fighting Vehicles
  • Light Protected Vehicles
  • Main Battle Tanks
  • Armored Personnel Carriers
  • Armored Amphibious Vehicles
  • Mine-Resistant Ambush Protected
  • Others

Technology Segments

  • Inter Operable Communication
  • Vehicle Information Integration
  • Active Protection Systems
  • Modular Ballistic Armor
  • Electric Armor
  • Situational Awareness
  • Active Mine Protection

Application Segments

  • Military
  • Law Enforcement
  • Commercial

Geography Segments

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Russia
    • U.K.
    • Germany
    • France
    • Italy
    • Others
  • Asia-Pacific
    • China
    • India
    • Japan
    • Others
  • RoW
    • South America
    • Middle East
    • Africa
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