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The Global Armored Vehicles Market 2019-2029

The Global Armored Vehicles Market 2019-2029

  • July 2019
  • 199 pages
  • ID: 2979248
  • Format: PDF
  • By GlobalData


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The Global Armored Vehicles Market 2019-2029

The global armored vehicles market is expected to value US$19.5 billion in 2019 and will grow at a CAGR of 2.76% to value US$25.7 billion by 2029. The cumulative market for global expenditure on armored vehicles will reach US$250.6 billion over the forecast period. The demand for armored vehicles is expected to be primarily driven by cross border disputes and modernization/replacement initiatives undertaken by various large defense spenders across the world.

Europe is expected to account for the largest share of 31.7% in the armored vehicles procurement market, with a total expenditure of US$79.3 billion over the forecast period. Europe is followed by Asia-Pacific region with a total expenditure of US$65.6 billion. Increase in defense expenditure by countries such as France, China, India, Spain, Turkey and Poland is expected to contribute to the armored vehicles market in Europe and Asia-Pacific region over the next decade. The Middle Eastern market for military armored vehicles is expected to account for 14.8%, followed by the African and the Latin American markets with a collective share of 8.3% during 2019-2029.

The global armored vehicles market includes nine segments on the basis of platform type which includes Main Battle Tank (MBT), Infantry Fighting Vehicle (IFV), Armored Personnel Carrier (APC), Heavy Armament Combat Vehicle (HACV), Light Multi-role Vehicle (LMV), Armored Support Vehicle, Armored Engineering Vehicle, Tactical Truck, and Light Utility Vehicle (LUV). IFV segment is anticipated to account for the largest share of 25.3%, followed by APC, and MBT, with shares of 23.1%, and 18.3% respectively over the forecast period.

The armored vehicles market is expected to be led by Europe with a share of 31.7% over the forecast period, followed by Asia-Pacific with 26.2%, and North America with 19.0%. The Middle East, Africa and Latin America are projected to garner shares of 14.8%, 5.5% and 2.9% respectively, in the global armored vehicles procurement market during 2019-2029. The global armored vehicles market is dominated by Europe, with Russia being the largest spender in the region followed by UK and France. In total, Europe will spend US$79.3 billion on the armored vehicles market during the forecast period, accounting for a share of 31.7%. Asia-Pacific represents the second largest market, with the total armored vehicles spending valued at US$65.6 billion over the forecast period.

During the forecast period, IFVs are expected to account for the largest share of spending, accounting for 25.3% of the overall market, with a cumulative expenditure of US$63.3 billion. APCs are projected to be the second largest segment over the forecast period and are expected to account for a total share of 23.1% of the global market. MBTs account for the third largest share of 18.3% over the forecast period, driven primarily by countries such as China, India and Pakistan. LMVs, Tactical Trucks, HACVs, Armored Engineering Vehicles, Armored Support Vehicles and LUVs are projected to capture 15.4%, 6.6%, 4.4%, 2.9%, 2.3%, and 1.6%, of the global armored vehicles market respectively over the forecast period.

The report "The Global Armored Vehicles Market 2019-2029", offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for armored vehicle, key market trends, and challenges faced by industry participants.

In-depth analysis provides -
- Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators.It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of armored vehicle segments around the world.

It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis

Companies mentioned: Oshkosh Defense, BAE Systems, General Dynamics, Rheinmetall AG, Uralvagonzavod, Krauss-Maffei Wegmann (KMW), Hyundai Rotem, Iveco S.p.A., Nexter Systems, China North Industries Corporation (NORINCO)

- The global armored vehicle market is expected to grow at a CAGR of 2.76% over the forecast period.
- The market consists of nine categories: MBT, IFV, APC, HACV, LUV, Tactical Truck, Armored Engineering Vehicle, Armored Support Vehicle, and LMV.
- Europe will dominate the sector with a share of 31.7%, followed by Asia-Pacific and North America, with shares of 26.2% and 19%, respectively. The IFV segment is expected to be the leading segment with a share of 25.3%.

Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global armored vehicle market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different armored vehicle 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 vehicle 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 vehicle 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 providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.

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