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Global Armored Vehicles Market by Technology, Application, Challenges, Trends, Size and Growth, Competitive Analysis and Forecast 2023 with Key Players Analysis(General Dynamics Corporation, Lockheed Martin Corporation, BAE Systems plc, Elbit Systems Ltd.

11-30-2018 06:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Global Armored Vehicles Market by Technology, Application,

Global armored vehicles market worth USD24.8 billion in 2016

As per the research, the global market for armored vehicles is likely to grow from USD24.8 billion in 2016 to USD36.6 billion by 2023. With increasing security concerns in the Asia-Pacific region and rising political disputes across the globe, the demand for armored vehicles is expected to gain traction during the forecast period.

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The increasing demand for light or medium-sized armored vehicles for combat operations has resulted in the widespread adoption of wheeled-type armored vehicles. This is expected to further propel the demand for armored vehicles during the forecast period.

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The factors driving the growth of the global armored vehicles market include rising applications in the commercial sectors, increasing civilian use of armored vehicles for self-defense or protection and increasing defense budgets. Another factor that is expected to drive the growth of global armored vehicles market is the rise in violence and the increasing availability of rental and leasing of armored vehicles worldwide.

The increasing demand for armored vehicles in the Asia-Pacific region is expected to sustain the demand for global armored vehicles market during the forecast period on account of security concerns regarding internal terrorism and Naxalite problems in China and India. The global armored vehicles market is expected to be further driven by factors such as aging military equipment and increasing internal and external threats across the globe.

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Major players have stronghold in the global armored vehicles market Some of the key players in the global armored vehicles market include General Dynamics Corporation, Lockheed Martin Corporation, BAE Systems plc, Elbit Systems Ltd., Oshkosh Corporation, Textron Inc., International Armored Group (IAG), Denel Land Systems, Rheinmetall AG, Thales Group and INKAS Armored Vehicle Manufacturing.

About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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