The Global Armored Vehicles Market is projected to reach a value of over USD 17.8 billion by 2027 at a CAGR of around 5%.
Armored Vehicles is mostly armed with arms, which has capabilities such as operational mobility, defensive and tactical offensive. Also, the armored vehicle is an armed combat vehicle protected by armor, generally combining operational mobility with offensive and defensive capabilities. Moreover, the Armoured Fighting Vehicle (AFV) can be wheeled or tracked. Some of the examples of armored vehicles are Main battle tanks, armored cars, armored self-propelled guns, as well as armored personnel carriers.
Hence, it also provides a solution for navigate some of the dangerous areas while protecting valuable assets. These will lead to increase the demand of the armored vehicles market in the forecast period.
Market Driver:
With the rising cross-border criminal activities is witness to boost the growth of the market in the forecast period. Whereas, the significantly growth in the criminal activities through the world due rise in political instability, religious, as well as with social cultural factors. These may lead to increase the adoption for the combat vehicles or armored vehicles to increasing the protection against blast attacks as well as ballistic. Also, the terrorism have triggered asymmetric warfare among various nations through the world and this is also expected to advance the demand of the product.
Hence, India is using armored vehicles for carrying out its anti-Naxalite operations in east India. These may lead to boost the adoption for the armored market in the forecast period through the globe.
Market Restraints:
One of the major key concern of the armored vehicles market is rising prices of raw materials which may challenging factor for the growth of the market. Whereas, the fluctuation in the price of the raw materials, import expenses, as well as huge taxes imposed by the countries mostly result in raising the cost of end products. Moreover, the high cost involved for the growth of the advanced technologies for the main battle tanks is also create a challenging factor for the market growth. Mostly the cost of the system is depend upon the specification of weapons installation on the tanks.
Hence, the rising price of the raw materials as well as high price of main battle tanks may hinder the growth of the armored market in the forecast period.
The report on the armored vehicles market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Product, Type, System, Operation Procedure, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Armored Vehicles Market, by Product
Armored Vehicles Market, by Type
Armored Vehicles Market, by System
Armored Vehicles Market, by Operation Procedure
Armored Vehicles Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ARMORED VEHICLES MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY