Press release
The Armored Vehicles Market Detailed Analysis Of Current Industry Trends, Growth Forecast To 2026
The Armored Vehicles Market is projected to grow at a CAGR 5.12% rate from 2021 to 2026. Growing demand for armored vehicles due to rise in the instances of cross-border conflicts and increasing incidences of asymmetric warfare across the globe. However, the absence of major OEMs of armored vehicles in the Middle East and Asia Pacific region and occurrence of mechanical, electrical, and other kinds of failure in armored vehicles are projected to hinder the growth of the market.View Complete Report @ https://whipsmartmi.com/Report/Armored-Vehicles-Market
The armaments segment is estimated to lead the armored vehicle market during the forecast period. The growth of this segment can be attributed to the increased demand for remote weapon stations, Anti-tank Guided Missiles (ATGM) launchers, and other armaments across the globe.
The Asia Pacific armored vehicles market is projected to grow at the highest CAGR from 2021 to 2026. The growth of the market in this region can be attributed to the rising number of terrorist activities in this region and increasing spending of emerging economies on defense operations. Countries such as India and China have increased their defense budgets and are procuring advanced armored vehicles for their military operations.
Key Market Players includes Oshkosh Corporation (US), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (US), BAE Systems plc (UK), NORINCO (China), Rheinmetall AG (Germany), and Textron Inc. (US).
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