Armored Vehicles Market Growth Opportunities and Forecast Industry Market Size and Forecast Report 2024 - 2031

Global Armored Vehicles Market size was valued at USD 29.45 Billion in 2022 and is poised to grow from USD 31.06 Billion in 2023 to USD 47.67 Billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031).



The Research report on Armored Vehicles Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.



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Segmental Analysis

Platform
Combat Vehicles [Main Battle Tanks, Infantry Fighting Vehicles, Armored Personnel Carriers, Armored Amphibious Vehicles, Mine-resistant Ambush-protected Vehicles, Light Armored Vehicles, Self-propelled Howitzers, Air Defense Vehicles, Armored Mortar Carriers], Combat Support Vehicles [Armored Supply Trucks {Armored fuel trucks, Armored ammunition replenishment vehicles, Armored ambulances}, Armored Command & Control Vehicles, Repair & Recovery Vehicles, Bridge-laying Tanks, Mine Clearance Vehicles], Unmanned Armored Vehicles
Mobility
Wheeled [4X4, 6X6, 8X8, 10X10, 12X12], Tracked
Type
Electric, Conventional
Systems
Engines [Diesel Engines, Turbine Engines], Drive Systems [Power Transmission Drives, Suspension & Braking Systems, Tracks & Wheels], Ballistic Armor [Composite Armors, Explosive Reactive Armors, Electric Armors, Homogenous Armors, Depleted Uranium Armors, Add-on Armors], Turrect Drives, Fire Control Systems, Armaments, Ammunition Handling Systems, Countermeasure Systems, Command & Control Systems, Power Systems, Navigation Systems, Observation & Display Systems, Hulls/Frames
Mode of Operation
Manned and Unmanned
Point of Sale
OEM and Retrofit




Market Dynamics

Drivers

Peacekeeping and Humanitarian Missions

Armored vehicles play a crucial role in peacekeeping and humanitarian missions conducted by international organizations and coalitions. These vehicles provide protection to personnel involved in these missions and assist in maintaining stability and delivering aid in conflict-affected regions.

Internal Security and Law Enforcement

Armored vehicles are not limited to military applications but are also used by law enforcement agencies for internal security purposes. Specialized armored vehicles are utilized in high-risk law enforcement operations, such as hostage rescues, riot control, and VIP protection.

Military modernization plans

Military modernization plans are a significant driver of the armored vehicles market. These plans involve the acquisition and development of advanced military equipment, including armored vehicles, to ensure the safety and security of armed forces and personnel.


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By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa

Following are the players analyzed in the report

• BAE Systems plc (United Kingdom) • General Dynamics Corporation (United States) • Rheinmetall AG (Germany) • Oshkosh Corporation (United States) • Thales Group (France) • ST Engineering (Singapore) • IVECO S.p.A. (Italy) • Krauss-Maffei Wegmann GmbH & Co. KG (Germany) • Lockheed Martin Corporation (United States) • Textron Inc. (United States) • Elbit Systems Ltd. (Israel) • Denel Land Systems (South Africa) • NORINCO International Cooperation Ltd. (China) • FNSS Savunma Sistemleri A.Ş. (Turkey) • Rostec State Corporation (Russia) • Tata Motors Limited (India) • Rosoboronexport (Russia) • UkrOboronProm (Ukraine) • Patria Group (Finland) • Paramount Group (South Africa)



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The research provides answers to the following key questions:

• What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Armored Vehicles Market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Armored Vehicles Market?
• What are the prominent market trends influencing the development of the Armored Vehicles Market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Armored Vehicles Market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?

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