Overview:

The global armored vehicles market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The armored fighting vehicle has combat effectiveness and has powerful armor to protect it. It is usually equipped with weapons and has combat mobility, defense and tactical offensive capabilities. An armored civilian vehicle in the United Kingdom is used for security purposes, in which the standard window glass is replaced by bulletproof glass, and the armor plate layer is inserted into the body panel. Armored vehicles have become an important means to stay safe when driving on unsafe roads and reaching destination safely.

Market Dynamics:

Growing incidence of global asymmetric wars is expected to drive the market growth in coming years. In order to implement the updated technology in the armored vehicle market, a large amount of investment and research and development activities are underway, which is further expected to boost market growth over the forecast period. In addition, rising government spending on improvement of armed forces capacity is expected to bolster growth of the global market over the forecast period.

However, continuously rising cost of armored vehicles is likely to hamper growth of the global armored vehicles market to a certain extent. Nevertheless, national defense forces are increasingly adopting unmanned combat ground vehicles are expected to create profitable growth opportunities in the target market.

Key Trends:

Key players operating in the global market are focusing on strategic partnerships, product launches, research and development, and facility expansions in order to strengthen their position in the global market. Fоr instance, in 2014, Rheinmetall AG has invested $242.8 million in research and development for new product development.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounts for the major revenue share in 2019, owing to favorable government measures to strengthen military forces to combat external and internal terrorism. The market in North America is expected to register a considerable growth during the forecast period due to adoption of advanced armored vehicles in the region.

Scope of the Report:

Detailed Segmentation:

Global Armored Vehicles Market, By Platform:

• Combat Vehicles
• Combat Support Vehicles
• Unmanned Armored Ground Vehicles

Global Armored Vehicles Market, By Mobility

• Tracked
• Wheeled

Global Armored Vehicles Market, By Mode of Operation

• Manned
• Unmanned

Global Armored Vehicles Market, By Type

• Electric
• Conventional

Key Players Covered:

Key players operating in the global market includes, UralVagonZavod, General Dynamics Corporation, Oshkosh Corporation, Ukroboronprom, Lockheed Martin Corporation, Rheinmetall AG,  BAE Systems plc, NORINCO,  Textron Inc., Lenco Industries, Inc., and Krauss-Maffei Wegmann GmbH & Co.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Armored Vehicles Market by platform, mobility, mode of operation, type, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global armored vehicles market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.