Armoured Vehicles Market 2022 Size-Share with Top Companies, Regional Growth Rate, Trends Future Opportunities and Global Industry Analysis Forecast to 2032

The Armoured Vehicles Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. The market report additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the players and companies to contribute to the Armoured Vehicles market growth.

The Global Armoured Vehicles Market Size is Projected to Reach at a CAGR of 6% during 2022-2027.

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Market Overview

Despite the significant impact of the COVID-19 pandemic on the economy, the market for armored fighting vehicles remained unaffected, as the procurement projects were on track and the sales and revenues of armored vehicles increased steadily for the manufacturing companies. The growing geopolitical tensions and border issues between various countries in Asia-Pacific, Europe, and the Middle East are generating demand for the procurement of new armored vehicles to enhance the combat capabilities of the ground forces. In addition, the aging fleet of armored vehicles is also forcing some countries to invest in new programs to improve the efficiency, lethality, and sophistication of the vehicles. The increasing focus on the development of local manufacturing capabilities in Asia-Pacific and the Middle East is expected to accelerate the growth of the market during the forecast period.

Top Leading Companies:

AM General, BAE Systems, Doosan DST, FNSS, General Dynamics, Iveco, KMW, Kurganmashzavod, Lockheed Martin, Navistar Defense, Nexter Systems, Norinco, Oshkosh, Panhard, Patria, Renault Trucks Defense, Rheinmetall Defence, Textron Inc, Thales Australia, Ura

Recent Developments

In January 2021, Katmerciler HIZIR, a Turkey-based company, was selected by Kenya’s Department of Defense to deliver 118 armored personnel carriers (APCs). These APCs are planned to be deployed by the Kenyan Army against al-Shabaab militants from Somalia.
In September 2020, Hungary placed an order for 218 Lynx Infantry Fighting Vehicles (IFVs) that are manufactured by Rheinmetall. According to the contract, initial 46 vehicles are planned to be manufactured in Germany, and the remaining 172 vehicles will be built in Hungary. The contract is worth USD 2.44 billion (EUR 2 billion), and the initial batch of 46 vehicles is scheduled to be delivered by early 2023.
BAE Systems received a contract worth USD 376.0 million from the US Government for the Engineering, Development, and Manufacture (EDM) of Mobile Protected Firepower (MPF) vehicles.
Oshkosh Corporation received a contract worth USD 1.69 billion from the US Army to supply over 6,000 armored vehicles.
KMW received a contract worth USD 832.0 million from the Government of Germany for upgrading its 104 Leopard 2 Battle Tanks.

Armoured Vehicles Market Segmentation by Type:

Caterpillar Armoured Vehicles
Wheel Armoured Vehicles

Armoured Vehicles Market Segmentation by Application:

Transport
Investigation
Rescue
Communication
Other

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Asia-Pacific Region is Expected to Witness the Highest Growth During the Forecast Period

China, India, Australia, South Korea, Singapore, and Japan are generating significant demand for new armored vehicles. The demand is primarily to replace an aging fleet that has been in operation for over 30-40 years. For instance, in 2017, the Singapore Ministry of Defence awarded a contract to ST Kinetics to produce Hunter AFVs. The Hunter AFV was commissioned by the Singapore Army in June 2019 and replaced the Singapore Army’s aging M113 Ultra armored vehicle, which has been in service since the 1970s. Likewise, in February 2021, the Indian Army placed an emergency procurement order worth USD 24.4 million for M4 armored vehicles from the Kalyani group. The new armored vehicles will support the Indian Army to transport troops faster and operate in high-altitude regions.

Regional Armoured Vehicles Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Armoured Vehicles Market Report:

Detailed overview of Armoured Vehicles Market
Changing the Armoured Vehicles market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Armoured Vehicles market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Armoured Vehicles Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Armoured Vehicles Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Armoured Vehicles industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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