Armored Vehicles Market: Summary
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.
Armored Vehicles Market: Drivers & Restraints
- Rising Cross-Border Criminal Activities
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.
- Rising Prices of Raw Materials
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.
Armored Vehicles Market: Key Segments
- Segmentation based on Product: Defense and Commercial.
- Segmentation based on Type: Electric and Conventional.
- Segmentation based on System: Ballistic Armor, Diesel Engine, Armaments, Countermeasure System, Command & Control System and Other.
- Segmentation based on Operation Procedure: Manned and Unmanned.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Armored Vehicles Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Product, Type, System, Operation Procedure, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Oshkosh Corp (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Textron Systems
- Otokar Otomotiv ve Savunma Sanayi AS
- Denel SOC Ltd
- Hanwha Group
- FNSS Savunma Sistemleri A.S.
- General Dynamics Corporation
- BAE Systems
- Rheinmetall AG
- Other Key Companies
- Ordnance Factory Board
- Kurganmashzavod JSC
- ST Engineering
Armored Vehicles Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Armored Vehicles Market, by Product
- Light Protected Vehicles (LPV)
- Armored Personnel Carrier (APC)
- Infantry Fighting Vehicles (IFV)
- Mine-resistant Ambush Protected (MRAP)
Armored Vehicles Market, by Type
Armored Vehicles Market, by System
- Ballistic Armor
- Diesel Engine
- Countermeasure System
- Command & Control System
Armored Vehicles Market, by Operation Procedure
Armored Vehicles Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Armored Vehicles Market Providers
- Armored Vehicles Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Armored Vehicles Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ARMORED VEHICLES MARKET STUDY