North America Armored Fighting Vehicles Market 2021 Highlights Recent Trends, Market Growth, Business Opportunities till 2026

The North America Armored Fighting Vehicles Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the North America Armored Fighting Vehicles market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the North America Armored Fighting Vehicles market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the North America Armored Fighting Vehicles market.

The North America Armored Fighting Vehicles Market is expected to register a CAGR of over 5% during the forecast period.

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Top Leading Companies of North America Armored Fighting Vehicles Market are - BAE Systems PLC, Rheinmetall AG, Oshkosh Defense, LLC, General Dynamics Corporation, Textron Inc., Leonardo SpA, AM General LLC, Science Applications International Corporation (SAIC), HDT Global, QinetiQ North America, FLIR Systems and others.

Key Market Trends:

Infantry Fighting Vehicle (IFV) Segment Held the Largest Market Share in 2019

In segmentation by Vehicle Type, the Infantry Fighting Vehicle (IFV) segment has the largest share in the market as of 2019. The segment is also projected to witness the highest growth rate in the market during the forecast period. The use of IFVs is increasing, as they are very effective in carrying mechanized infantry units into battle, while also providing direct-fire support. Major IFV procurement and upgrade plans are currently ongoing in the region. As a part of the US Army’s combat vehicle modernization strategy that aims at ensuring force readiness of the Armored Brigade Combat Teams (ABCT), in October 2019, BAE Systems was awarded a USD 269 million contract covering the production of 168 additional units of the Bradley A4 IFV. The contract also includes upgrades and associated spares for the two variants of the Bradley IFV: the M2A4 Infantry Fighting Vehicle and the M7A4 Fire Support Team Vehicle.

The United States is Expected to Dominate the Market During the Forecast Period

During the forecast period, the United States is projected to dominate the market by growing with the highest CAGR. The country also accounted for the highest market share in 2019. The country is an avid user of armored vehicles in North America and is currently focusing on upgrading its existing vehicle fleet and corresponding capabilities. The FY2021 defense budget request included funding to modernize critical systems in the fleet, such as the Bradley Infantry Fighting Vehicle, the Stryker armored vehicle, the M1 Abrams tank, and the Paladin howitzer. The Army plans to spend USD 3.7 billion to procure weapons and tracked combat vehicles, in which USD 1 billion will be spent on Abrams upgrades in FY21. The Army plans to upgrade 89 of the M1A1 tanks to the M1A2 version. The country is working to develop armored fighting vehicles that can offer high survivability over a wide range of terrains. The need for upgrading the existing fleet of military armored vehicles to counter emerging threats resulted in a flurry of contracts being awarded to cater to the diversified needs of the armed forces. The US armed forces are also keenly investing in indigenous technologies for enhancing their battlefield prowess. The US Department of Defense (DoD) has plans to procure around 54,599 JLTVs, of which around 90% are meant to be utilized by the US Army and remaining 10% by the US Marine Corps.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- North America Armored Fighting Vehicles Market Size & Analysis (2016 - 2026)
- Market Share Analysis of North America Armored Fighting Vehicles Market (%),2016 - 2026
- North America Armored Fighting Vehicles Market Share, By Brand
- North America Armored Fighting Vehicles Market Share, By Company
- North America Armored Fighting Vehicles Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies North America Armored Fighting Vehicles Market Value Analysis & Forecast
- Promising North America Armored Fighting Vehicles Development by Major Companies
- Detailed North America Armored Fighting Vehicles Portfolio of the Major Companies
- Major Deals in the North America Armored Fighting Vehicles Market
- Major Companies Analysis

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