Press release
Armored Vehicle Market - Expected to Drive Growth through 2023
Military vehicles require robust capabilities to overcome threats from both internal damages and external sources. The deployment of military troops in extreme environmental scenarios has led to the investments in improving the vehicle competencies in terms of technology. Various rugged systems and devices are constantly being integrated in the military vehicles worldwide specific to different regional applications. Moreover, the development of landmines and other improvised explosive devices (IEDs), which pose major challenges to military vehicles, have amplified the concerns to protect the soldiers’ lives in the battleground. These factors boost the demand for armored vehicles from the military organizations globally. Additionally, the advent of technology and improvement of multirole vehicles have also influenced the demand for armored vehicles among various law enforcement agencies worldwide. Considering the aforementioned factors, the global armored vehicles market is estimated to be growing at a significant pace.Get an exclusive sample of this report @
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Furthermore, the security challenges across the globe have lead to the generation of demand for armored commercial vehicles from civilians. The market for commercial armored vehicles is currently growing at a steady pace, however, it is expected to undergo a substantial boost during the forecast period and lead to the expansion of the overall armored vehicles market. This factor is estimated to develop new opportunities for the global armored vehicles manufacturers. On the contrary, the market for armored vehicles encounters major hindrances such as lack of standardized regulatory norms in Asia Pacific (APAC) and Rest of World (RoW). However, the impact of this restraint is analyzed to contract over the forecast period as the governments in different countries are gradually establishing regulations for armored vehicle manufacturing in all applications sectors namely, military, law enforcement and commercial.
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In this report on the global armored vehicles, the market has been segmented based on technology, type and geography. The study highlights current market trends and provides the market size of 2014 and forecast from 2015 to 2023. The report covers the current market scenario for armored vehicle and highlights future trends that could affect the demand for the same. The global armored vehicles market is analyzed to observe a steady growth from 2015to2023 at a decent CAGR.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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