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The Global Armored Vehicles and MRO Market 2017-2027

  • May 2017
  • 224 pages
  • Strategic Defence Intelligence (SDI)
Report ID: 2979248

Summary

Table of Contents

The Global Armored Vehicles and MRO Market 2017-2027

Summary
Global Military Armored Vehicles and MRO market is expected to value US$24.0 billion in 2017 and will grow at a CAGR of 3.67% to value US$34.4 billion by 2027. The cumulative market for global expenditure on military armored vehicles and MRO will reach US$312.8 billion over the forecast period. The demand for armored vehicles is expected to be driven by cross border disputes and modernization initiatives undertaken by various large defense spenders across the world.

In terms of segments, the military armored vehicles market is split into six segments: MBTs, IFVs, APCs, MRAPs, LMVs, and tactical trucks. During the forecast period, MBTs are expected to account for the largest share of spending, accounting for 30% of the overall global market. Driven by large scale procurement programs in countries such as India, China, and Pakistan, the Asia Pacific region is expected to be the dominant market for MBTs throughout the next decade. North America and Europe are projected to account for the second and third largest markets in this segment.

The military armored vehicles and MRO market is expected to be led by Asia Pacific with a share of 27% over the forecast period, followed by North America with 25%, and Europe with 23%. The Middle Eastern market for military armored vehicles is expected to account for 15%, followed by the Latin American and the African markets with a collective share of 10%.

The global armored vehicles market is dominated by Asia Pacific, with China being the largest spender in the sector. Overall, Asia Pacific will spend US$86.5 billion on armored vehicles and MRO programs during the forecast period. North America represents the second largest market, with the total armored vehicles and MRO spending valued at US$77.7 billion over the forecast period. The region will be largely driven by MRO and upgrade programs in addition to fresh procurements.

Modern armored vehicles and related MRO must incorporate technological advancements in the fields of survivability, connectivity, mobility, maneuverability, lethality, and sustainability. These capability enhancements are made possible by the advancements in processor technology and are supplemented by the concepts of interoperability and network centric capabilities. Recent changes in the global strategic security situation have resulted in a shift in the nature of warfare to increasingly asymmetric strategies. This change, combined with an increase in peacekeeping and stabilization operations, requires the rapid intervention and deployment of forces, creating a demand for light-weight and medium-weight armored vehicles.

The report “The Global Armored Vehicles and MRO Market 2017-2027” offers detailed analysis of the Global Armored Vehicles and MRO Market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for armored vehicles. Additionally, the report also highlights challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -
- Overview: Snapshot of the armored vehicles and MRO market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments
- Market Dynamics: Insights into the technological developments in the armored vehicles and MRO market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants
- Segment Analysis: Insights into the armored vehicles and MRO market from a segmental perspective and a detailed analysis of factors influencing the market for each sector
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region
- Regional Analysis: Insights into the armored vehicles and MRO market from a regional perspective and a detailed analysis of factors influencing the market for each region
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the armored vehicle segments expected to be in demand in each region
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive landscape analysis: Analysis of competitive landscape of the global armored vehicles industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.

Companies mentioned in this report: General Dynamics Land Systems, Nexter SA, Denel Land Systems, Oshkosh Defense, Rheinmetall, Renault Truck Defense, Hyundai Rotem, Navistar Defense, Otokar, Thales, NORINCO, Uralvagonzavod, Krauss-Maffei Wegmann, Iveco, OtoMelara, Panhard, BAE Systems.

Scope
- The Global Armored Vehicles and MRO Market, valued at US$24.0 billion in 2017, is projected to grow at a CAGR of 3.67% over the 2017-2027 period, to reach US$34.4 billion by 2027. The market consists of six categories: MBT, IFV, APC, MRAP, LMV, and tactical trucks. The market is expected to be dominated by the MBT segment, which is expected to account for 30% of the market, followed by IFV and APC with shares of 29% and 16%, respectively. The Asia-Pacific region is forecasted to dominate the sector with a share of 27%, followed by North America and Europe with shares of 25% and 23%, respectively.

Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global armored vehicles and MRO market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different armored vehicles and MRO segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global armored vehicles and MRO market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global armored vehicles and MRO market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top armored vehicle suppliers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

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