Armored Vehicles Market was valued at US$ 13.01 Bn in 2022 and is expected to reach US$ 19.43 Bn by 2029, at a CAGR of 5.9% during a forecast period.Armored Vehicles Market Overview:
An armored vehicle is an armed combat vehicle protected by armor, generally combining operational mobility with offensive and defensive capabilities. AFVs can be wheeled or tracked. Main battle tanks, armored cars, armored self-propelled guns, and armored personnel carriers are all examples of Armored Vehicles.To know about the Research Methodology :- Request Free Sample Report
COVID-19 impact on global armored vehicles market:
The breakout of the COVID-19 pandemic has a multi-level influence on the global armoured vehicle market's various economies. Automotive component, part, and assembly line producers have all been adversely affected. Due to the pandemic scenario, manufacture of the armoured vehicle has also stalled. The leading competitors in the global armoured vehicle market are increasingly employing a variety of tactics and strategies in order to resurrect production and boost demand for the vehicles. During the forecast years, the market will rise significantly because to the combined efforts of the major armoured vehicle manufacturers and government initiatives.Global Armored Vehicles Market Dynamics
Rising incidences of asymmetric warfare across the globe: Asymmetric warfare is defined as a type of conflict in which opposing parties or states have unequal military resources and weaker opponents deploy unorthodox weaponry and tactics to exploit their adversaries' vulnerabilities. Political instability, religious, economic, and socio-cultural issues have all contributed to an increase in asymmetric warfare during the last decade. As asymmetric warfare has become more common, government agencies have begun to deploy combat vehicles for self-defense and defense against terrorist or rebel attacks, as armored vehicles provide protection against both ballistic and explosive strikes. Furthermore, these vehicles are equipped with turret gun systems for counter-insurgency missions. India, for example, employs armoured trucks in its anti-Naxalite operations in east India. As a result, rising instances of asymmetric warfare are likely to result in higher purchase of armoured vehicles around the world, propelling the armoured vehicles market forward over the forecast period. Absence of major OEMs of armored vehicles in the Middle East and Asia Pacific regions: Because of the presence of big OEMs such as BAE Systems, General Dynamics, Rheinmetall, and Nexter Systems in these countries, the armoured vehicle market is heavily concentrated in North America and Europe. However, due to poor domestic armoured vehicle production in these countries, the armoured vehicle market in the Middle East and Asia Pacific is still developing. As a result, countries like Saudi Arabia, the United Arab Emirates, India, the Philippines, and Qatar rely on foreign OEMs for armoured vehicles. As a result, armoured vehicle procurement becomes more expensive, resulting in a decline in total demand. Increased adoption of unmanned combat ground vehicles by defense forces of different countries: The growing use of unmanned systems by military forces from many countries for intelligence, surveillance, and reconnaissance (ISR) and combat operations has increased demand for unmanned systems around the world in recent years. Furthermore, as defense budgets in industrialized economies such as the United Kingdom, Italy, Spain, Germany, and France have shrunk, unmanned systems have become more popular as a replacement for defense personnel, requiring vast amounts of equipment and logistic support.Global Armored Vehicles Market Segment Analysis:
The global armored vehicles market is segmented into platform, mobility, system. On the basis of platform, the global market is sub-segmented into Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles Combat Vehicles, Combat Support Vehicles, and Unmanned Armored Ground Vehicles. The Combat Vehicles segment held largest share of xx% in 2022. The combat vehicle segment of the market is growing due to rising demand for armoured personnel carriers (APCs) and light armoured vehicles (LAVs) around the world. On the basis of mobility, the global market is sub-segmented into Wheeled, Tracked.The wheeled segment held largest share of xx% in 2022. Military forces' increased demand for 4x4 light armoured vehicles to conduct Intelligence, Surveillance, and Reconnaissance (ISR) tasks and transport defence people and equipment from one location to another is propelling this segment of the market forward. On the basis of system, the global market is sub-segmented into By Engines, By Drive Systems, Ballistic Armor, Turret Drives, Ammunition Handling Systems, Fire Control Systems, and Armaments.The armaments segment held largest share of xx% in 2022, due to the rise of the armament segment is mostly due to the increased use of remote weapon stations, Launchers for anti-tank guided missiles (ATGMs) and other armaments can be found all over the world.
Armored Vehicles Market Regional Insights:
In terms of region, Asia Pacific is expected to hold the largest share in the vetronics market during the forecast period. The defense and security challenges round-faced by Asian countries have enlarged considerably throughout the past decade, leading governments to require substantive steps to reinforce military ground capabilities to defend their territorial integrity: measures that have been supported by the expansion of these countries’ economies. Consequently, the region has experienced new strategic alliances through trade partnerships that have strengthened domestic defense industries and boosted exports. China, India, and Asian country area unit among the world’s prime ten spenders on military vehicles and area unit possible to contribute over USD126 billion to the world market throughout the next forecasted period. The objective of the report is to present a comprehensive analysis of the global Armored Vehicles market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Armored Vehicles market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.Armored Vehicles Market Scope: Inquire before buying
Armored Vehicles Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 13.01 Bn. Forecast Period 2023 to 2029 CAGR: 5.9 % Market Size in 2029: US $ 19.43 Bn. Segments Covered: by Platform • Combat Vehicles • Combat Support Vehicles • Unmanned Armored Ground Vehicles by Mobility • Wheeled • Tracked by System • By Engines • By Drive Systems • Ballistic Armor • Turret Drives • Ammunition Handling Systems • Fire Control Systems • Armaments Armored Vehicles Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Global Armored Vehicles Market Key Players
• General Dynamics Co • Lockheed Martin • Textron Inc. • The Raytheon Company • Krauss-Maffei Wegmann • Oshkosh Corporation • Rheinmetall Defence • International Armoured • BAE Systems, • INKAS Armoured • STREIT Group • Elbit Systems Ltd. • UralVagonZavod • Ukroboronprom • NORINCO • Mitsubishi Heavy Industries, Ltd • Diehl Defence GmbH & Co. KGFrequently Asked Questions:
1. Which region has the largest share in Global Armored Vehicles Market? Ans: Asia pacific region holds the highest share in 2022. 2. What is the growth rate of Global Armored Vehicles Market? Ans: The Global Armored Vehicles Market is growing at a CAGR of 5.9 % during forecasting period 2023-2029. 3. What segments are covered in Global Armored Vehicles market? Ans: Global Armored Vehicles Market is segmented platform, mobility, system and region. 4. Who are the key players in Global Armored Vehicles market? Ans: The important key players in the Global Market are – General Dynamics Co, Lockheed Martin, Textron Inc., The Raytheon Company, Krauss-Maffei Wegmann , Oshkosh Corporation, Rheinmetall Defence, International Armoured, BAE Systems, INKAS Armoured , STREIT Group, Elbit Systems Ltd., UralVagonZavod, Ukroboronprom. 5. What is the study period of this market? Ans: The Global Armored Vehicles Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Armored Vehicles Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Broadcasting & Cable TV Market 3.4. Geographical Snapshot of the Broadcasting & Cable TV Market, By Manufacturer share 4. Global Armored Vehicles Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Broadcasting & Cable TV Market 5. Supply Side and Demand Side Indicators 6. Global Armored Vehicles Market Analysis and Forecast, 2022-2029 6.1. Global Broadcasting & Cable TV Market Size & Y-o-Y Growth Analysis. 7. Global Armored Vehicles Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 7.1.1. Combat Vehicles 7.1.2. Combat Support Vehicles 7.1.3. Unmanned Armored Ground Vehicles 7.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 7.2.1. Wheeled 7.2.2. Tracked 7.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 7.3.1. By Engines 7.3.2. By Drive Systems 7.3.3. Ballistic Armor 7.3.4. Turret Drives 7.3.5. Ammunition Handling Systems 7.3.6. Fire Control Systems 7.3.7. Armaments 8. Global Armored Vehicles Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Armored Vehicles Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 9.1.1. Combat Vehicles 9.1.2. Combat Support Vehicles 9.1.3. Unmanned Armored Ground Vehicles 9.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 9.2.1. Wheeled 9.2.2. Tracked 9.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 9.3.1. By Engines 9.3.2. By Drive Systems 9.3.3. Ballistic Armor 9.3.4. Turret Drives 9.3.5. Ammunition Handling Systems 9.3.6. Fire Control Systems 9.3.7. Armaments 10. North America Armored Vehicles Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Armored Vehicles Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 12. Canada Armored Vehicles Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 13. Mexico Armored Vehicles Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 14. Europe Armored Vehicles Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 15. Europe Armored Vehicles Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Armored Vehicles Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 17. France Armored Vehicles Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 18. Germany Armored Vehicles Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 19. Italy Armored Vehicles Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 20. Spain Armored Vehicles Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Revenue Channel, 2022-2029 21. Sweden Armored Vehicles Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 22. CIS Countries Armored Vehicles Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 23. Rest of Europe Armored Vehicles Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 24. Asia Pacific Armored Vehicles Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 25. Asia Pacific Armored Vehicles Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Armored Vehicles Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 27. India Armored Vehicles Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 28. Japan Armored Vehicles Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 29. South Korea Armored Vehicles Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 30. Australia Armored Vehicles Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 31. ASEAN Armored Vehicles Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 32. Rest of Asia Pacific Armored Vehicles Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 33. Middle East Africa Armored Vehicles Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 34. Middle East Africa Armored Vehicles Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Armored Vehicles Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 36. GCC Countries Armored Vehicles Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 37. Egypt Armored Vehicles Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 38. Nigeria Armored Vehicles Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 39. Rest of ME&A Armored Vehicles Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 40. South America Armored Vehicles Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 41. South America Armored Vehicles Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Armored Vehicles Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 43. Argentina Armored Vehicles Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 44. Rest of South America Armored Vehicles Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Platform, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Mobility, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By System, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Broadcasting & Cable TV Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. General Dynamics Co 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Lockheed Martin 45.3.3. Textron Inc. 45.3.4. The Raytheon Company 45.3.5. Krauss-Maffei Wegmann 45.3.6. Oshkosh Corporation 45.3.7. Rheinmetall Defence 45.3.8. International Armoured 45.3.9. BAE Systems, 45.3.10. INKAS Armoured 45.3.11. STREIT Group 45.3.12. Elbit Systems Ltd. 45.3.13. UralVagonZavod 45.3.14. Ukroboronprom 45.3.15. NORINCO 45.3.16. Mitsubishi Heavy Industries, Ltd 45.3.17. Diehl Defence GmbH & Co. KG 46. Primary Key Insights