Press release
Armored Vehicle Upgrade And Retrofit Market Report 2024 - Armored Vehicle Upgrade And Retrofit Market Size, Share, Opportunities And Forecast
Armored Vehicle Upgrade And Retrofit Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=12185&type=smp
According to The Business Research Company's, The armored vehicle upgrade and retrofit market size has grown steadily in recent years. It will grow from $6.07 billion in 2023 to $6.36 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to cold war era arms race, evolving threats and tactics, emphasis on logistics and maintenance, budget allocations for defense spending, evolving threat landscape.
The armored vehicle upgrade and retrofit market size is expected to see steady growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to increasing focus on hybrid and electric propulsion, adoption of unmanned ground vehicles (ugvs), growing demand for modular and scalable upgrades, emphasis on lightweight and survivable designs, global geopolitical tensions. Major trends in the forecast period include integration of artificial intelligence in vehicle systems, enhanced survivability through active protection systems, shift towards digitalization and connectivity, increased use of additive manufacturing in upgrades, sustainable and eco-friendly armored vehicle solutions.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/armored-vehicle-upgrade-and-retrofit-global-market-report
Market Drivers and Trends:
The rise in terrorism and hostile activities is expected to propel the growth of the armored vehicle upgrade and retrofit market going forward. Terrorism and hostile activities refer to acts of violence, aggression, or threats perpetrated by individuals or groups to cause fear, harm, or disruption. Armored vehicles significantly counter-terrorism and hostile activities by providing security forces and military units with protection, mobility, and firepower. They are utilized in various scenarios to mitigate the risks of terrorist attacks and hostile activities. For instance, in March 2022, according to Global Terrorism Index 2022 report from the Institute for Economics and Peace, an Australia-based thinktank, terrorism attacks rose by 17% to 5,226 in 2021. Afghanistan leads the world in terrorist attacks, notably in August 2021, a devastating incident occurred at Kabul International Airport, where a suicide bomber tragically claimed the lives of at least 170 people and left over 200 others wounded when the explosives were detonated. Therefore, the rise in terrorism and hostile activities will drive the future armored vehicle upgrade and retrofit market.
Technological advancements are a key trend gaining popularity in the armored vehicle upgrade and retrofit market. Major companies operating in the armored vehicle upgrade and retrofit market are focused on the latest technology to sustain their position. For instance, in June 2022, Texelis SAS, a France-based manufacturing company, introduced a new technological solution to wheeled armored vehicle electrification for military operators looking to take the next step toward a greener battlefield. This solution combines proven electric vehicle components to offer a faster route to vehicle electrification than whole-vehicle electric design programs. It can be implemented on existing wheeled military vehicles to retain advanced mobility while harnessing technologies to enable the ability to export electric power to charge soldier systems and run in full-electric silent mode for limited periods.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Hyundai Motor Group, SAIC Motor Corporation Limited., Hanwha Group, Tata Motors Limited, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, BAE Systems PLC, Lockheed Martin Corporation, Thales Group, L3Harris Technologies Inc., Leonardo S.p.A., Iveco S.p.A, Textron Inc., Navistar Inc., ST Engineering, Oshkosh Corporation, Rheinmetall AG, Elbit Systems Ltd., Nexter Systems, Krauss-Maffei Wegmann GmbH and Co. KG, Ukroboronprom, RUAG Holding, AM General LLC, Patria Plc., CMI Group Inc., FNSS Savunma Sistemleri AS., Denel Land Systems, MKU Limited.
Armored Vehicle Upgrade And Retrofit Market 2024 Key Insights:
• The armored vehicle upgrade and retrofit market size is expected to see steady growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• The Surge In Armored Vehicle Upgrades Amidst Rising Terrorism
• Technological Trends Reshaping The Armored Vehicle Retrofit Market
• North America was the largest region in the armored vehicle upgrade and retrofit market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=12185&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ"
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Armored Vehicle Upgrade And Retrofit Market Report 2024 - Armored Vehicle Upgrade And Retrofit Market Size, Share, Opportunities And Forecast here
News-ID: 3760721 • Views: …
More Releases from The Business research company
3D And 4D Technology Market Size Projected To Reach $695.93 Billion By 2034 With …
The 3D And 4D Technology Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the 3D And 4D Technology Market?
In recent times, there has been significant growth in the market size of 3D and 4D technology. It is projected to…
AI Voice Cloning Market Forecast 2025-2034: Comprehensive Analysis And Growth Op …
The AI Voice Cloning Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the AI Voice Cloning Market?
The market size of AI voice cloning has witnessed a significant increase in the past few years. The projected growth figures state a…
Yacht Charter Market Size Forecasted To Achieve $28.29 Billion By 2029 With Stea …
The Yacht Charter Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current Yacht Charter Market Size and Its Estimated Growth Rate?
The size of the yacht charter market has experienced swift expansion in the past few years. It is forecasted to increase from…
Xylene Market Size Projected To Reach $311.11 Billion By 2034 With A Cagr Of 6.5 …
The Xylene Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Xylene Market Size During the Forecast Period?
In the past few years, the xylene market has seen substantial growth. It is projected to expand from a market size of $225.93 billion in…
More Releases for Armored
Armored Cars Market Size, Status, Global Outlook 2022-2028 | INKAS, The Raytheon …
The Global Armored Cars Market report focuses on a comprehensive analysis of the current and future prospects of the Armored Cars industry. An in-depth analysis of historical trends, future trends, SWOT analysis, demographics, industrial advances, and regulatory requirements for the Armored Cars market has been performed to analyze the growth rate of each segment and sub-segment. The industry's role in the COVID-19 natural occurrence was comprehensively studied. throughout a particular…
Armored Vehicles Market | The US Army Will Test Armored Robotic Vehicles in 2020 …
Armored Vehicles Market 2020-2026: Based on application, the defense segment dominated the global Armored Vehicles Market in 2018, in terms of revenue. In addition, based on drive type, the wheel segment is expected to exhibit lucrative growth rate during the forecast period. At present, by region, Europe is the highest revenue contributor, and is expected to garner the highest revenue in the global market during the forecast period, followed by…
Armored Vehicles Market
Wars and acts of genocide are as old as human civilization itself, but often these take a form uglier than imaginable. Asia (South Asia and the Middle East in particular) and Africa have emerged as the hotbeds for such incidents, especially after the two World Wars. Though the setting up of international organizations, such as the United Nations, has helped a bit, the situation is till out of control in…
The Armored Group, LLC, Announces Their Launch Into the Armored Boat Market with …
The Armored Group, LLC (TAG) announces they have entered the maritime vessel market and are now manufacturing armored boats to provide the highest level of protection and versatility for the Military, Homeland Security, Navy, Coast Guard, Maritime Law Enforcement as well as those that need ultra-fast, multi-role utility and patrol vessels. With the addition of TAG’s armored marine vehicles, the Company is well-positioned to become one of the premier international…
Global Armored Cars Market Market 2018-2025 Future Analysis, International Armor …
Research Report 2018-2025 on "Global Armored Cars Market" which provides an outlook of current market value of Armored Cars Market as well as the expected forecast of Rate on Investment (ROI) with growing CAGR of XX% in Armored Cars Market by the end of 2025. The report on the global Armored Cars market uses the top-down and bottom-up approaches to define, analyze, and describe the Armored Cars market 2018 trends…
Global Armored Cars Market 2017 - INKAS, The Raytheon Company, INKAS Armored Veh …
In its approaching report Armored Cars market covers detailed analysis on market trends, Market Drivers, market opportunities and other necessary details on the product. Besides, Armored Cars market research report indemnifies threats, Armored Cars market share size, revenue as well as Armored Cars market growth. The industry report has been divided on the basis of drug, and region. The Armored Cars market was valued at US$ XX billion in the…
