Global Armored Vehicles Market: Key Highlights
Global Armored Vehicles Market: Key Market Dynamics
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Global Armored Vehicles Market: Regional Overview
The region is anticipate to acquire the most significant market share in the forecast period. Whereas, the region has large presence of large OEMs which play as a key driver for the growth of the market. Moreover, the US is one of the major player to boost the market in the region by making investments for the developments and growth of new advance products. Also the rising investments which is being made by countries in the region lead to scale up the armored vehicles with good quality.
Hence, the region is projected to play a major role of the growth of armored vehicles market in the projected period.
The region is anticipate to play a major role for the growth and developments of the market in the forecast period. Whereas, the countries such as China has growing their budget system for the defense sector of the country. Moreover, the rising growth of the armored market in the region, can accounted with the rising the number of terrorist activities in the region. Also with the rising spending of the emerging economies in the defense operations can boost the market growth.
Hence, the Japan, India and South Korea also play a significant role for the market growth in the region. As well as the growing investment in the region is anticipate to fuel the growth of armored vehicles market in the forecast period.
Global Armored Vehicles Market: Key Players Overview
BAE Systems is a British multinational defense, security, and aerospace company. Also the company offers some of the world most advanced, technology-led defense, aerospace as well as a security solution. Whereas, the Armored Multi-Purpose Vehicle (AMPV) is a family of next generation, highly survivable vehicles which is essential to the future of the US Army. In 2018, the US Army has awarded BAE System a contract worth of USD 376 Million for the Engineering, Manufacturing, and Development (EMD) phase of the Mobile Protected Firepower (MPF) program.
Oshkosh Corp is an American industrial company, which designs and builds specialty trucks, military vehicles, airport fire apparatus as well as the access equipment. In 2020, the Oshkosh Defense LLC an Oshkosh Corporation has announced that the US Army Contracting Command, Detroit Arsenal has order for 248 Joint Light Tactical Vehicles (JLTVs) and associated kits of the value of USD 127 million. Also, in 2020 the Oshkosh Defense has been awarded for USD 346.4 Million to modernize vehicles in the US Army and US Army Reserve FHTV Fleets.
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