Global Armored Vehicles Market 2024-2028
The armored vehicles market is forecasted to grow by USD 7220.76 mn during 2023-2028, accelerating at a CAGR of 6.32% during the forecast period. The report on the armored vehicles market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising incidences of asymmetric warfare globally, the upgrade of defense capabilities to counter emerging security threats, and the advent of hybrid drivetrains in MRAPs.
Technavio's armored vehicles market is segmented as below:
By Mobility Type
By Type
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the increased adoption of unmanned combat ground vehicles as one of the prime reasons driving the armored vehicles market growth during the next few years. Also, the integration of directed energy weapons (DEW) with armored vehicles and the emergence of active protection systems (APS) will lead to sizable demand in the market.
The report on the armored vehicles market covers the following areas:
- Armored vehicles market sizing
- Armored vehicles market forecast
- Armored vehicles market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading armored vehicles market vendors that include AB Volvo, Alpine Armoring Inc., Armormax, BAE Systems Plc, Denel SOC Ltd., General Dynamics Corp., International Armored Group, Iveco Group N.V, KNDS N.V., Lockheed Martin Corp., Mahindra and Mahindra Ltd., Milkor Pty Ltd., Oshkosh Corp., Otokar Otomotiv ve Savunma Sanayi AS, Rheinmetall AG, Rostec, STREIT Group, SVI ENGINEERING, Textron Inc., and Traton SE. Also, the armored vehicles market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.