Armored Vehicle Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Armored Vehicle Market
The global armored vehicle market size was valued at USD 19.5 billion in 2022 and is projected to grow from USD 22.2 billion in 2023 to USD 33.9 billion by 2030, exhibiting a CAGR of 6.2% during the forecast period 2023 to 2030.
The war between Russia and Ukraine has changed how Europe's defense industry works. Many NATO and European countries are helping Ukraine by giving those weapons and other military equipment. Over 25 countries are supporting Ukraine with money, weapons, and special military help. This has led to an increase in demand for armored vehicles.
The armored vehicle market is on the upward thrust due to numerous factors. With the adoption of electrical technology and the developing demand for next-era navy vehicles, countries are making an investment heavily to enhance their defense talents in reaction to evolving safety threats and geopolitical tensions global.
Armored cars are trending as militaries global shift toward hybrid electric power systems, improving stealth talents and decreasing reliance on fossil fuels. Additionally, the rise of asymmetric struggle has spurred governments to put money into fight automobiles for protection against unconventional threats, riding market increase and innovation.
Comprehensive Analysis of Armored Vehicle Market
Segmentation in the Armored Vehicle market share runs the market beacuse it allows the companies to target precise customers with tailored offerings and solutions. The armored vehicle market is divided based on the type of vehicle, how it's powered, how it moves, its internal systems, and whether it's installed during production or afterward. This includes combat vehicles, support vehicles, and unmanned ground vehicles, with options for traditional or electric propulsion and either wheels or tracks for mobility. Additionally, the systems inside, like drive mechanisms and navigation controls, are categorized, along with whether they're integrated during manufacturing or added later.
North America is leading the armored vehicle market because the United States government spends a lot of money on buying and improving military vehicles. Big companies like General Dynamics Corporation and Textron Systems are also helping by making and selling these vehicles. This makes North America the biggest player in the armored vehicle market.
Key players impact market size by investing in innovative systems, forming partnerships, and expanding product offerings. Through strategic acquisitions and collaborations, they enhance operations, scale sales, and broaden customer reach. The key players in the market include General Dynamics Corporation (U.S.), Oshkosh Defense, LLC An Oshkosh Corporation Company (U.S.), BAE Systems (U.K.), Textron Systems (U.S.), Rheinmetall AG (Germany), Krauss-Maffei Wegmann GmbH (Germany), IVECO DEFENCE VEHICLES (Italy), Denel SOC ltd (South Africa), NORINCOGROUP.com Inc. (China), Otokar, a KOC Group Company (Turkey)
In February 2023, the U.S. Army gave A.M. General a massive settlement to make plenty of recent vehicles and trailers for the navy. This will assist the infantrymen have higher trucks to apply. It's exciting because it approach greater work for A.M. General and greater cool vehicles for the army!
Segmentation Table
Global Armored Vehicle Market Scope
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 6.2% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Platform, Propulsion, Mobility, System, Solution, and Region
Segmentation By Platform
Combat Vehicles
- Main Battle Tank
- Infantry Fighting Vehicle
- Armored Personal Carriers
- Armored Amphibious Vehicles
- Mine-Resistant Ambush Protected Vehicles
- Light Armored Vehicles
- Self-Propelled Howitzers
- Air Defense Vehicles
- Armored Morter Carriers
Combat Support Vehicles
- Armored Supply Trucks
- Armored Command and Control Vehicles
- Repain and Recovery Vehicles
- Armored Engineering Vehicles
- Armored Ambulance Vehicles
- Armored Ammunition Carrier Vehicles
Unmanned Armored Ground Vehicles
- Combat UAGV
- Combat Support UAGV
- Reconnaissance UAGV
- ISR UAGV
- Explosive Ordnance Disposal UAGV
By Propulsion
Conventional
Electric
By Mobility
Wheeled
Tracked
By Solution
Line Fit
Retrofit
By System
Drive Systems
Structures & Mechanisms
Weapons & Ammunition Control Systems
Countermeasure Systems
Command & Control Systems
Navigation Systems
Observation & Display Systems
Others
By Region
North America (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- U.S. (By Solution)
- Canada (By Solution)
Europe (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- U.K. (By Solution)
- Germany (By Solution)
- France (By Solution)
- Russia (By Solution)
- Greece (By Solution)
- Rest of Europe (By Solution)
Asia Pacific (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- China (By Solution)
- India (By Solution)
- Japan (By Solution)
- Australia (By Solution)
- South Korea (By Solution)
- Rest of Asia Pacific (By Solution)
Middle East (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- UAE (By Solution)
- Saudi Arabia (By Solution)
- Turkey (By Solution)
- Rest of Middle East (By Solution)
Africa (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- South Africa (By Solution)
- Egypt (By Solution)
- Algeria (By Solution)
- Morocco (By Solution)
- Rest of Africa (By Solution)
Latin America (By Platform, By Propulsion, By Mobility, By System, By Solution, By Country)
- Brazil (By Solution)
- Argentina (By Solution)
- Chile (By Solution)
- Mexico (By Solution)
- Rest of Latin America (By Solution)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Regulatory Analysis
- 4.3. Industry SWOT Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID on Supply Chain of Sportswear Market
- 4.5.1. Impact of COVID-19
- 4.5.2. Supply Chain Challenges
- 4.5.3. Potential Opportunities due to COVID-19
- 5. Global Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 5.1. Key Findings / Summary
- 5.1.1. Market Size Estimates and Forecast
- 5.1.2. By Product Type (Value)
- 5.1.2.1. Footwear
- 5.1.2.2. Apparel
- 5.1.2.3. Wearables
- 5.1.3. By End-User (Value)
- 5.1.3.1. Men
- 5.1.3.2. Women
- 5.1.3.3. Children
- 5.1.4. By Distribution Channel (Value)
- 5.1.4.1. E-Commerce
- 5.1.4.2. Retail Stores
- 5.1.5. By Region (Value)
- 5.1.5.1. North America
- 5.1.5.2. Europe
- 5.1.5.3. Asia Pacific
- 5.1.5.4. South America
- 5.1.5.5. Middle East & Africa
- 6. North America Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. Market Size Estimates and Forecast
- 6.2.2. By Product Type (Value)
- 6.2.2.1. Footwear
- 6.2.2.2. Apparel
- 6.2.2.3. Wearables
- 6.2.3. By End-User (Value)
- 6.2.3.1. Men
- 6.2.3.2. Women
- 6.2.3.3. Children
- 6.2.4. By Distribution Channel (Value)
- 6.2.4.1. E-Commerce
- 6.2.4.2. Retail Stores
- 6.2.5. By Country (Value)
- 6.2.5.1. U.S.
- 6.2.5.1.1. By Product Type (Value)
- 6.2.5.1.1.1. Footwear
- 6.2.5.1.1.2. Apparel
- 6.2.5.1.1.3. Wearables
- 6.2.5.2. Canada
- 6.2.5.2.1. By Product Type (Value)
- 6.2.5.2.1.1. Footwear
- 6.2.5.2.1.2. Apparel
- 6.2.5.2.1.3. Wearables
- 6.2.5.3. Mexico
- 6.2.5.3.1. By Product Type (Value)
- 6.2.5.3.1.1. Footwear
- 6.2.5.3.1.2. Apparel
- 6.2.5.3.1.3. Wearables
- 7. Europe Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. Market Size Estimates and Forecast By Product Type (Value)
- 7.2.1.1. Footwear
- 7.2.1.2. Apparel
- 7.2.1.3. Wearables
- 7.2.2. By End-User (Value)
- 7.2.2.1. Men
- 7.2.2.2. Women
- 7.2.2.3. Children
- 7.2.3. By Distribution Channel (Value)
- 7.2.3.1. E-Commerce
- 7.2.3.2. Retail Stores
- 7.2.4. By Country (Value)
- 7.2.4.1. U.K.
- 7.2.4.1.1. By Product Type (Value)
- 7.2.4.1.1.1. Footwear
- 7.2.4.1.1.2. Apparel
- 7.2.4.1.1.3. Wearables
- 7.2.4.2. France
- 7.2.4.2.1. By Product Type (Value)
- 7.2.4.2.1.1. Footwear
- 7.2.4.2.1.2. Apparel
- 7.2.4.2.1.3. Wearables
- 7.2.4.3. Italy
- 7.2.4.3.1. By Product Type (Value)
- 7.2.4.3.1.1. Footwear
- 7.2.4.3.1.2. Apparel
- 7.2.4.3.1.3. Wearables
- 7.2.4.4. Germany
- 7.2.4.4.1. By Product Type (Value)
- 7.2.4.4.1.1. Footwear
- 7.2.4.4.1.2. Apparel
- 7.2.4.4.1.3. Wearables
- 7.2.4.5. Russia
- 7.2.4.5.1. By Product Type (Value)
- 7.2.4.5.1.1. Footwear
- 7.2.4.5.1.2. Apparel
- 7.2.4.5.1.3. Wearables
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Product Type (Value)
- 7.2.4.6.1.1. Footwear
- 7.2.4.6.1.2. Apparel
- 7.2.4.6.1.3. Wearables
- 8. Asia Pacific Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. Market Size Estimates and Forecast By Product Type (Value)
- 8.2.1.1. Footwear
- 8.2.1.2. Apparel
- 8.2.1.3. Wearables
- 8.2.2. By End-User (Value)
- 8.2.2.1. Men
- 8.2.2.2. Women
- 8.2.2.3. Children
- 8.2.3. By Distribution Channel (Value)
- 8.2.3.1. E-Commerce
- 8.2.3.2. Retail Stores
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Product Type (Value)
- 8.2.4.1.1.1. Footwear
- 8.2.4.1.1.2. Apparel
- 8.2.4.1.1.3. Wearables
- 8.2.4.2. Japan
- 8.2.4.2.1. By Product Type (Value)
- 8.2.4.2.1.1. Footwear
- 8.2.4.2.1.2. Apparel
- 8.2.4.2.1.3. Wearables
- 8.2.4.3. India
- 8.2.4.3.1. By Product Type (Value)
- 8.2.4.3.1.1. Footwear
- 8.2.4.3.1.2. Apparel
- 8.2.4.3.1.3. Wearables
- 8.2.4.4. South Korea
- 8.2.4.4.1. By Product Type (Value)
- 8.2.4.4.1.1. Footwear
- 8.2.4.4.1.2. Apparel
- 8.2.4.4.1.3. Wearables
- 8.2.4.5. Rest of Asia Pacific
- 8.2.4.5.1. By Product Type (Value)
- 8.2.4.5.1.1. Footwear
- 8.2.4.5.1.2. Apparel
- 8.2.4.5.1.3. Wearables
- 9. South America Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.1.1. Market Size Estimates and Forecast By Product Type (Value)
- 9.1.1.1. Footwear
- 9.1.1.2. Apparel
- 9.1.1.3. Wearables
- 9.1.2. By End-User (Value)
- 9.1.2.1. Men
- 9.1.2.2. Women
- 9.1.2.3. Children
- 9.1.3. By Distribution Channel (Value)
- 9.1.3.1. E-Commerce
- 9.1.3.2. Retail Stores
- 9.1.4. By Country (Value)
- 9.1.4.1. Brazil
- 9.1.4.1.1. By Product Type (Value)
- 9.1.4.1.1.1. Footwear
- 9.1.4.1.1.2. Apparel
- 9.1.4.1.1.3. Wearables
- 9.1.4.2. Argentina
- 9.1.4.2.1. By Product Type (Value)
- 9.1.4.2.1.1. Footwear
- 9.1.4.2.1.2. Apparel
- 9.1.4.2.1.3. Wearables
- 9.1.4.3. Rest of South America
- 9.1.4.3.1. By Product Type (Value)
- 9.1.4.3.1.1. Footwear
- 9.1.4.3.1.2. Apparel
- 9.1.4.3.1.3. Wearables
- 10. Middle East & Africa Sportswear Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.1.1. Market Size Estimates and Forecast By Product Type (Value)
- 10.1.1.1. Footwear
- 10.1.1.2. Apparel
- 10.1.1.3. Wearables
- 10.1.2. By End-User (Value)
- 10.1.2.1. Men
- 10.1.2.2. Women
- 10.1.2.3. Children
- 10.1.3. By Distribution Channel (Value)
- 10.1.3.1. E-Commerce
- 10.1.3.2. Retail Stores
- 10.1.4. By Country (Value)
- 10.1.4.1. South Africa
- 10.1.4.1.1. By Product Type (Value)
- 10.1.4.1.1.1. Footwear
- 10.1.4.1.1.2. Apparel
- 10.1.4.1.1.3. Wearables
- 10.1.4.2. UAE
- 10.1.4.2.1. By Product Type (Value)
- 10.1.4.2.1.1. Footwear
- 10.1.4.2.1.2. Apparel
- 10.1.4.2.1.3. Wearables
- 10.1.4.3. Rest of Middle East & Africa
- 10.1.4.3.1. By Product Type (Value)
- 10.1.4.3.1.1. Footwear
- 10.1.4.3.1.2. Apparel
- 10.1.4.3.1.3. Wearables
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Sportswear Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. Puma SE, Inc.
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Umbro Ltd.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Adidas AG
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Nike, Inc.
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Columbia Sportswear Company
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Under Armour, Inc
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Anta Sports Products Limited
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Lululemon Athletica Inc.
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Fila Holdings Corp
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Li Ning Company Limited
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
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