Armored Vehicle Market, By Type (Electric Armored Vehicles and Conventional Armored Vehicles), By Mode of Operation (Manned Armored Vehicles and Unmanned Armored Vehicles), By System (Drive Systems, Structures & Mechanisms, Weapons & Ammunition Control Sy

Armored Vehicle Market, By Type (Electric Armored Vehicles and Conventional Armored Vehicles), By Mode of Operation (Manned Armored Vehicles and Unmanned Armored Vehicles), By System (Drive Systems, Structures & Mechanisms, Weapons & Ammunition Control Systems, Countermeasure Systems, Command & Control Systems, Navigation Systems, Observation & Display Systems, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)


The global armored vehicle market has been witnessing significant growth in the recent years. Factors such as increasing defense budgets of major economies and escalating geopolitical tensions across the world have been driving the demand for armored vehicles. Moreover, rising asymmetric warfare and terrorism activities have compelled military forces to focus more on protecting soldiers. As a result, there has been a rise in procurement of armored fighting vehicles and armored personnel carriers by armed forces. Additionally, growing necessity of armored vehicles for peacekeeping missions and law enforcement operations is further augmenting the sales prospects in this market. However, high research and development costs associated with technologically advanced armor materials pose a challenge. Nevertheless, growing investments by key manufacturers in advanced armor technologies are likely to unfold new opportunities for market players over the coming years.

Market Dynamics:

The global armored vehicle market growth is majorly driven by the increasing defense budgets of developed as well as developing economies. Escalating geopolitical tensions and cross-border conflicts have encouraged nations to strengthen their military capabilities. This has significantly driven the demand for advanced armored vehicles among armed forces. Additionally, growing asymmetric warfare and rising terrorism activities worldwide have compelled military modernization with protective vehicles. However, high costs associated with research, development and production of technologically advanced armor materials negatively impact the market growth. Moreover, extended timelines for new procurement also restrain the sales of armored vehicles to some extent. Whereas, ongoing advances in composite armors, active protection systems, and electric drivetrains present lucrative opportunities for market expansion.

Key features of the study:
  • This report provides in-depth analysis of the global armored vehicle market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global armored vehicle market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include BAE Systems, BMW AG, Daimler AG (Mercedes Benz), Ford Motor Company, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, Lenco Industries, Inc., Lockheed Martin Corporation, Navistar, Inc., Oshkosh Defense, LLC, Rheinmetall AG, STAT, Inc., Textron, Inc., and Thales Group
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global armored vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global armored vehicle market
Detailed Segmentation:
  • By Type
  • Electric Armored Vehicles
  • Conventional Armored Vehicles
  • By Mode Of Operation
  • Manned Armored Vehicles
  • Unmanned Armored Vehicles
  • By System
  • Drive Systems
  • Structures & Mechanisms
  • Weapons & Ammunition Control Systems
  • Countermeasure Systems
  • Command & Control Systems
  • Navigation Systems
  • Observation & Display Systems
  • Others
  • By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
  • Key Players Insights
  • BAE Systems
  • BMW AG
  • Daimler AG (Mercedes Benz)
  • Ford Motor Company
  • General Dynamics Corporation
  • INKAS Armored Vehicle Manufacturing
  • International Armored Group
  • Lenco Industries, Inc.
  • Lockheed Martin Corporation
  • Navistar, Inc.
  • Oshkosh Defense, LLC
  • Rheinmetall AG
  • STAT, Inc.
  • Textron, Inc.
  • Thales Group.


1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Type
Market Snippet, By Mode of Operation
Market Snippet, By System
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of COVID-19 Pandemic
4. Global Armored Vehicle Market, By Type, 2019-2031 (US$ Bn)
Electric Armored Vehicles
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Conventional Armored Vehicles
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
5. Global Armored Vehicle Market, By Mode of Operation, 2019-2031 (US$ Bn)
Manned Armored Vehicles
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Unmanned Armored Vehicles
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
6. Global Armored Vehicle Market, By System, 2019-2031 (US$ Bn)
Drive Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Structures & Mechanisms
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Weapons & Ammunition Control Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Countermeasure Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Command & Control Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Navigation Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Observation & Display Systems
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Others
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
7. Global Armored Vehicle Market, By Region, 2019-2031 (US$ Bn)
Introduction
Market Share Analysis, By Region, 2024 and 2031 (%)
North America
Regional Trends
Market Size and Forecast, By Type, 2019–2031 (US$ Bn)
Market Size and Forecast, By Mode of Operation, 2019–2031 (US$ Bn)
Market Size and Forecast, By System, 2019–2031 (US$ Bn)
Market Share Analysis, By Country, 2024 and 2031 (%)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Type, 2019–2031 (US$ Bn)
Market Size and Forecast, By Mode of Operation, 2019–2031 (US$ Bn)
Market Size and Forecast, By System, 2019–2031 (US$ Bn)
Market Share Analysis, By Country, 2024 and 2031 (%)
U.K.
Germany
France
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Type, 2019–2031 (US$ Bn)
Market Size and Forecast, By Mode of Operation, 2019–2031 (US$ Bn)
Market Size and Forecast, By System, 2019–2031 (US$ Bn)
Market Share Analysis, By Country, 2024 and 2031 (%)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Type, 2019–2031 (US$ Bn)
Market Size and Forecast, By Mode of Operation, 2019–2031 (US$ Bn)
Market Size and Forecast, By System, 2019–2031 (US$ Bn)
Market Share Analysis, By Country, 2024 and 2031 (%)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East and Africa
Regional Trends
Market Size and Forecast, By Type, 2019–2031 (US$ Bn)
Market Size and Forecast, By Mode of Operation, 2019–2031 (US$ Bn)
Market Size and Forecast, By System, 2019–2031 (US$ Bn)
Market Share Analysis, By Country, 2024 and 2031 (%)
South Africa
GCC Countries
Rest of the Middle East and Africa
8. Competitive Landscape
Company Profiles
BAE Systems
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
BMW AG
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Daimler AG (Mercedes Benz)
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Ford Motor Company
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
General Dynamics Corporation
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
INKAS Armored Vehicle Manufacturing
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
International Armored Group
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Lenco Industries, Inc.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Lockheed Martin Corporation
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Navistar, Inc.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Oshkosh Defense, LLC
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Rheinmetall AG
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
STAT, Inc.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Textron, Inc.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Thales Group.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
9. Wheel of Fortune
Wheel of Fortune
Analyst View
Coherent Opportunity Map
10. Reference and Research Methodology
References
Research Methodology
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