Europe Armored Fighting Vehicles Market, By Product Type (Armored Personnel Carriers (APCs), Infantry Fighting Vehicles (IFVs), Main Battle Tanks (MBTs), Armored Combat Support Vehicles, Mine-Resistant Ambush Protected (MRAP) Vehicles, Amphibious Armored Vehicles); By Mobility (Wheeled, Tracked); By Technology (Conventional Vehicles, Electric Vehicles); By Application (Defense, Commercial Security); By Country (Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, The Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Europe Armored Fighting Vehicles Market on Top Gear to Touch USD 8.6 Billion by 2030
Europe Armored Fighting Vehicles Market is thriving due to increasing defense budgets, rising geopolitical tensions, defense modernization programs, advanced technologies, and growing demand for versatile, survivable combat vehicles.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe Armored Fighting Vehicles Market size by value at USD 6.3 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Europe Armored Fighting Vehicles Market size to expand at a CAGR of 4.60% reaching a value of USD 8.6 billion by 2030. Europe Armored Fighting Vehicles Market is driven by rising defense budgets, increasing focus on modernizing military fleets, and geopolitical tensions necessitating advanced combat capabilities. The growing emphasis on homeland security and counterterrorism also bolsters demand. Technological advancements, such as modular designs and integration of artificial intelligence (AI) for situational awareness, further enhance market growth. Additionally, the shift toward hybrid and electric propulsion systems for sustainability and efforts to improve survivability and mobility contribute to the market's expansion.
Opportunity-Spurring Demand from Non-European Countries
Europe Armored Fighting Vehicles Market is driven by increasing defense needs in non-European regions, particularly the Middle East and Asia. Rising geopolitical tensions and evolving security threats have led to heightened demand for advanced armored vehicles from European manufacturers. These regions seek to modernize their military fleets, leveraging Europe’s expertise in cutting-edge technologies. Export opportunities and strategic partnerships further fuel growth, enabling European manufacturers to expand their global footprint and boost revenue.
Impact of Escalating Geopolitical Tensions on Europe Armored Fighting Vehicles Market
Escalating geopolitical tensions are significantly impacting Europe Armored Fighting Vehicles Market, driving increased defense spending and modernization programs. Regional conflicts, NATO commitments, and concerns over border security are prompting European nations to bolster their armored vehicle fleets. This surge in demand is fueling investments in advanced technologies like active protection systems and autonomous capabilities. Further, collaborations among domestic manufacturers and international defense firms are intensifying to meet evolving military requirements, ensuring enhanced operational readiness and deterrence capabilities in a volatile environment.
Main Battle Tanks (MBTs) Segment Leads Europe Market
Main Battle Tanks (MBTs) segment holds the largest market share of Europe Armored Fighting Vehicles Market. Its dominance is attributed to rising defense spending and the necessity for sophisticated, heavily armored vehicles to enhance military operations across diverse terrains. MBTs play a vital role in ground combat, providing exceptional firepower, protection, and mobility, making them indispensable in modern military strategies. Their significance in national defense and military modernization efforts further fuels their demand throughout Europe.
Competitive Landscape
Europe Armored Fighting Vehicles Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include BAE Systems, Oshkosh Corporation Inc., Rheinmetall AG, General Dynamics Corporation, Patria, KNDS N.V., Military Industrial Company, Supacat Limited (SC Group), ARQUUS Defense, and Iveco Defence Vehicles. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Europe Armored Fighting Vehicles Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Armored Fighting Vehicles Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Armored Fighting Vehicles Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Europe Armored Fighting Vehicles Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising security concerns due to ongoing conflicts
- 3.2.1.2. Increased military budgets
- 3.2.1.3. Innovations in AFV technology, including improved armor, mobility, and firepower
- 3.2.2. Restraints
- 3.2.2.1. High cost of procurement and maintenance
- 3.2.2.2. Long procurement cycles
- 3.2.3. Opportunities
- 3.2.3.1. Growing defense needs in non-European regions
- 3.2.3.2. Upgradation of existing fleet
- 3.2.3.3. Technological advancements in autonomous systems and hybrid electric propulsion for AFVs
- 3.2.4. Challenges
- 3.2.4.1. Increasing shift toward hybrid and asymmetric warfare
- 3.2.4.2. Varying regulations and defense procurement policies in different European countries
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Europe Armored Fighting Vehicles Market: Marketing Strategies
- 5. Europe Armored Fighting Vehicles Market Overview
- 5.1. Market Size & Forecast, 2019–2030
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type
- 5.2.1.1. Armored Personnel Carriers (APCs)
- 5.2.1.2. Infantry Fighting Vehicles (IFVs)
- 5.2.1.3. Main Battle Tanks (MBTs)
- 5.2.1.4. Armored Combat Support Vehicles
- 5.2.1.5. Mine-Resistant Ambush Protected (MRAP) Vehicles
- 5.2.1.6. Amphibious Armored Vehicles
- 5.2.2. By Mobility
- 5.2.2.1. Wheeled
- 5.2.2.2. Tracked
- 5.2.3. By Technology
- 5.2.3.1. Conventional Vehicles
- 5.2.3.2. Electric Vehicles
- 5.2.4. By Application
- 5.2.4.1. Defense
- 5.2.4.2. Commercial Security
- 5.2.5. By Country
- 5.2.5.1. Germany
- 5.2.5.2. United Kingdom
- 5.2.5.3. Italy
- 5.2.5.4. France
- 5.2.5.5. Spain
- 5.2.5.6. Belgium
- 5.2.5.7. Russia
- 5.2.5.8. The Netherlands
- 5.2.5.9. Rest of Europe
- 6. Germany Armored Fighting Vehicles Market
- 6.1. Market Size & Forecast, 2019–2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Mobility
- 6.2.3. By Technology
- 6.2.4. By Application
- 7. United Kingdom Armored Fighting Vehicles Market
- 7.1. Market Size & Forecast, 2019–2030
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Mobility
- 7.2.3. By Technology
- 7.2.4. By Application
- 8. Italy Armored Fighting Vehicles Market
- 8.1. Market Size & Forecast, 2019–2030
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Mobility
- 8.2.3. By Technology
- 8.2.4. By Application
- 9. France Armored Fighting Vehicles Market
- 9.1. Market Size & Forecast, 2019–2030
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Mobility
- 9.2.3. By Technology
- 9.2.4. By Application
- 10. Spain Armored Fighting Vehicles Market
- 10.1. Market Size & Forecast, 2019–2030
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Product Type
- 10.2.2. By Mobility
- 10.2.3. By Technology
- 10.2.4. By Application
- 11. Belgium Armored Fighting Vehicles Market
- 11.1. Market Size & Forecast, 2019–2030
- 11.1.1. By Value (USD Billion)
- 11.2. Market Share & Forecast
- 11.2.1. By Product Type
- 11.2.2. By Mobility
- 11.2.3. By Technology
- 11.2.4. By Application
- 12. Russia Armored Fighting Vehicles Market
- 12.1. Market Size & Forecast, 2019–2030
- 12.1.1. By Value (USD Billion)
- 12.2. Market Share & Forecast
- 12.2.1. By Product Type
- 12.2.2. By Mobility
- 12.2.3. By Technology
- 12.2.4. By Application
- 13. The Netherlands Armored Fighting Vehicles Market
- 13.1. Market Size & Forecast, 2019–2030
- 13.1.1. By Value (USD Billion)
- 13.2. Market Share & Forecast
- 13.2.1. By Product Type
- 13.2.2. By Mobility
- 13.2.3. By Technology
- 13.2.4. By Application
- 14. Rest of Europe Armored Fighting Vehicles Market
- 14.1. Market Size & Forecast, 2019–2030
- 14.1.1. By Value (USD Billion)
- 14.2. Market Share & Forecast
- 14.2.1. By Product Type
- 14.2.2. By Mobility
- 14.2.3. By Technology
- 14.2.4. By Application
- 15. Competitive Landscape
- 15.1. List of Key Players and Their Offerings
- 15.2. Europe Armored Fighting Vehicles Company Market Share Analysis, 2023
- 15.3. Competitive Benchmarking, By Operating Parameters
- 15.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 16. Impact of Escalating Geopolitical Tensions on Europe Armored Fighting Vehicles Market
- 17. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 17.1. BAE Systems
- 17.2. Oshkosh Corporation Inc.
- 17.3. Rheinmetall AG
- 17.4. General Dynamics Corporation
- 17.5. Patria
- 17.6. KNDS N.V.
- 17.7. Military Industrial Company
- 17.8. Supacat Limited (SC Group)
- 17.9. ARQUUS Defense
- 17.10. Iveco Defence Vehicles
- 17.11. Other Prominent Players
- 18. Key Strategic Recommendations
- 19. Research Methodology
- 19.1. Qualitative Research
- 19.1.1. Primary & Secondary Research
- 19.2. Quantitative Research
- 19.3. Market Breakdown & Data Triangulation
- 19.3.1. Secondary Research
- 19.3.2. Primary Research
- 19.4. Breakdown of Primary Research Respondents, By Country
- 19.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 Europe Armored Fighting Vehicles Segmentation
- Figure 2 Europe Armored Fighting Vehicles Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 Europe Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 5 Europe Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 6 Europe Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 7 Europe Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 8 Europe Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 9 Europe Armored Fighting Vehicles Market Share, By Country, By Value, 2019–2030
- Figure 10 Germany Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 11 Germany Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 12 Germany Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 13 Germany Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 14 Germany Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 15 United Kingdom Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 16 United Kingdom Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 17 United Kingdom Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 18 United Kingdom Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 19 United Kingdom Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 20 Italy Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 21 Italy Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 22 Italy Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 23 Italy Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 24 Italy Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 25 France Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 26 France Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 27 France Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 28 France Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 29 France Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 30 Spain Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 31 Spain Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 32 Spain Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 33 Spain Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 34 Spain Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 35 Belgium Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 36 Belgium Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 37 Belgium Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 38 Belgium Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 39 Belgium Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 40 Russia Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 41 Russia Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 42 Russia Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 43 Russia Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 44 Russia Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 45 The Netherlands Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 46 The Netherlands Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 47 The Netherlands Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 48 The Netherlands Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 49 The Netherlands Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- Figure 50 Rest of Europe Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Figure 51 Rest of Europe Armored Fighting Vehicles Market Share, By Product Type, By Value, 2019–2030
- Figure 52 Rest of Europe Armored Fighting Vehicles Market Share, By Mobility, By Value, 2019–2030
- Figure 53 Rest of Europe Armored Fighting Vehicles Market Share, By Technology, By Value, 2019–2030
- Figure 54 Rest of Europe Armored Fighting Vehicles Market Share, By Application, By Value, 2019–2030
- List of Tables
- Table 1 Europe Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 2 Europe Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 3 Europe Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 4 Europe Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 5 Europe Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 6 Europe Armored Fighting Vehicles Market Size, By Country, By Value, 2019–2030
- Table 7 Germany Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 8 Germany Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 9 Germany Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 10 Germany Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 11 Germany Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 12 United Kingdom Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 13 United Kingdom Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 14 United Kingdom Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 15 United Kingdom Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 16 United Kingdom Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 17 Italy Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 18 Italy Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 19 Italy Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 20 Italy Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 21 Italy Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 22 France Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 23 France Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 24 France Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 25 France Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 26 France Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 27 Spain Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 28 Spain Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 29 Spain Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 30 Spain Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 31 Spain Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 32 Belgium Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 33 Belgium Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 34 Belgium Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 35 Belgium Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 36 Belgium Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 37 Russia Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 38 Russia Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 39 Russia Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 40 Russia Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 41 Russia Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 42 The Netherlands Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 43 The Netherlands Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 44 The Netherlands Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 45 The Netherlands Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 46 The Netherlands Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 47 Rest of Europe Armored Fighting Vehicles Market Size, By Value (USD Billion), 2019–2030
- Table 48 Rest of Europe Armored Fighting Vehicles Market Size, By Product Type, By Value, 2019–2030
- Table 49 Rest of Europe Armored Fighting Vehicles Market Size, By Mobility, By Value, 2019–2030
- Table 50 Rest of Europe Armored Fighting Vehicles Market Size, By Technology, By Value, 2019–2030
- Table 51 Rest of Europe Armored Fighting Vehicles Market Size, By Application, By Value, 2019–2030
- Table 52 BAE Systems Company Overview
- Table 53 BAE Systems Financial Overview
- Table 54 Oshkosh Corporation Inc. Company Overview
- Table 55 Oshkosh Corporation Inc. Financial Overview
- Table 56 Rheinmetall AG Company Overview
- Table 57 Rheinmetall AG Financial Overview
- Table 58 General Dynamics Corporation Company Overview
- Table 59 General Dynamics Corporation Financial Overview
- Table 60 Patria Company Overview
- Table 61 Patria Financial Overview
- Table 62 KNDS N.V. Company Overview
- Table 63 KNDS N.V. Financial Overview
- Table 64 Military Industrial Company Company Overview
- Table 65 Military Industrial Company Financial Overview
- Table 66 Supacat Limited (SC Group) Company Overview
- Table 67 Supacat Limited (SC Group) Financial Overview
- Table 68 ARQUUS Defense Company Overview
- Table 69 ARQUUS Defense Financial Overview
- Table 70 Iveco Defence Vehicles Company Overview
- Table 71 Iveco Defence Vehicles Financial Overview
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