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Armored Vehicles Market By Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025 | Key Players Are BMW AG, BAE Systems, Ford Motor Company, Daimler AG, General Dynamics Corporation, and International Armored Group

06-11-2019 09:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Armored Vehicles Market

Armored Vehicles Market

Global Market Insights, Inc. has recently added a report on Armored Vehicles Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

North America will account for a substantial share in the armored vehicles market size over the projected time frame. This growth can be credited to the rising government investments to develop and procure highly scalable armored vehicles with robust ballistic capabilities. Rising defense budget in the U.S. is further supporting the regional share over the projected timeframe. For instance, in 2019, the U.S. defense budget accounted for around USD 686 billion, thereby supporting the industry share over the projected timeframe.

Request table of contents this Report @ https://www.gminsights.com/request-toc/upcoming/3279

Increasing acceptance of leasing and rental armored vehicles among civilians has been instrumental in accelerating the armored vehicles market penetration over the projected timeframe. Governments across the globe are establishing strategic agreements and partnerships with industry players to develop advanced armored vehicles. For instance, in December 2018, the U.S. government announced a strategic contract with BAE Systems to design, develop, and manufacture mobile protected firepower (MPF) vehicles.

The armored vehicle offers superior levels of tactical and operation mobility and protection with the deployment of a wide range of sensors, weapon systems, and troops, thereby expanding the market size over the projected timeframe. However, higher costs associated with the development and testing of these vehicles may hinder the market share over the study timeframe. Moreover, probabilities of mechanical and electrical failures along with higher maintenance costs may further limit the market size significantly.

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Based on platform, the armored vehicles market size is segmented into unmanned armored ground vehicles, combat support vehicles, and combat support vehicles. Unmanned armored ground vehicles will grow significantly over the projected timeframe. This can be attributed to the increasing requirement for armored vehicles without any driver presence, that are ideal for specialized combat missions. Moreover, the incorporation of advanced RADAR and LiDAR sensors along with advanced autonomous technologies further accelerates the segment share over the study timeframe.

Asia Pacific is set to witness significant growth in the armored vehicles market size over the forecast period. This growth can be attributed to the increasing investments for developing and procuring advanced armored vehicles in major economies including China, South Korea, and India. For instance, in 2018, South Korea announced a major investment to develop and establish research centers for developing AI based autonomous weapons and advanced military vehicles.

Based on mobility, the armored vehicles market share is distinguished into wheeled and tracked. Wheeled armored vehicles is set to exhibit significant share during the study timeframe owing to its ability to travel across diversified terrains. Moreover, the higher efficiency of such vehicles, superior stability, along with superior engine configurations with enhanced torque and power output are further expanding the market size over the projected period.

Browse Complete Report@ https://www.gminsights.com/industry-analysis/armored-vehicles-market

Armored Vehicles Market is expected to register significant CAGR over the projected timeframe owing to rising concerns on safeguarding soldiers during wars and improving national security. Rising cases of terrorism along with growing cross border tension among major economies are further expected to drive the market demand. The incorporation of advanced technologies including artificial intelligence along with IoT technologies provides positive outlook for the industry expansion.

Major players in the armored vehicles market size include BMW AG, BAE Systems, Ford Motor Company, Daimler AG, General Dynamics Corporation, and International Armored Group. Industry players are continuously upgrading their technologies in their armored vehicles to increase their market share. For instance, in 2015, BAE Systems introduced an advanced suspension system in its infantry fighting vehicle, with an aim of improving the vehicle’s speed and handling in the battlefield.

Contact us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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