Aerospace Industry Today

Armored Vehicles Market 2018 Key Growth Drivers, Challenges, Demand and Upcoming Trends

Armored Vehicles Market, by Defense Products (Armored Personnel Carriers (APC), Infantry Fighting Vehicle (IFV), Light Protected Vehicle (LPV), Main Battle Tanks (MBT), Mine-Resistant Ambush Protected (MRAP), Tactical Trucks), by Application (Defense, Commercial), and Region- Forecast 2017-2023.
Published 06 February 2018

Market Highlights:

Armored vehicles are combat vehicles armed with weapons that form an important part of military operations. Armored solutions can offer the utmost in protection, especially within military situations and hot zones. Armored vehicles are the perfect solution for navigating some of the most dangerous places on earth while protecting valuable assets. Moreover, these vehicles, provide forces engaging in combat, with improved advantages in terms of mobility and firepower. Increasing incidences of armed conflicts, violence, and terrorism are driving the demand for armored vehicles.

However, declining defense budgets of developed economies acts as a major restraint for the market.

The armored vehicles market is expected to reach a market size of USD 32.26 Billion by the end of forecast period with CAGR of 5.8%.

The major player operating in the market of global armored vehicles are General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K.), Lockheed Martin (U.S.), Elbit Systems Ltd (Israel), Textron (U.S.), WELP Armouring (Germany), Denel Land Systems (South Africa) Oshkosh Corporation (U.S.), INKAS Armored Vehicle Manufacturing (Canada) and Thales Group (France)

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Regional Analysis:

North America armored vehicle market is expected to show sluggish growth over the forecast period, owing to the limited defense budget. Market saturation in the US and higher CAGR growth of the Asian countries during the forecast period, are expected to be the major reasons for the emergence of the Asia-Pacific as the biggest market for armored vehicles and related MRO.

Asia-Pacific and the Middle East are to be the potential markets for armored vehicles. The demand for armored vehicles in the Asia-Pacific is increasing due to security concerns in many countries regarding internal terrorism.

Target Audience:

  • Organizations
  • Manufacturer
  • Research Institute / Education Institute
  • Potential Investors

The report for Global Armored Vehicles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

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Study Objectives of Armored Vehicles Market:

  • To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the armored vehicles market
  • To provide insights about factors affecting the market growth
  • To analyze the Armored Vehicles market based on tools such as Porter’s Five Forces Analysis
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies, North America, Europe, Asia, and Rest of the World (ROW) and their countries
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segment by operating system and sub-segments
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the armored vehicles market

The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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