Global Armored Vehicle Market, By Application (Combat Vehicles, Combat Support Vehicles, Unmanned Ar

Published Date: | Report Code : AD1910632

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Market Dynamics:

The Armored Vehicle Market is expected to promise impressive growth owing to growing security demand by politicians, VIPs, etc in recent years. Increasing demand from end-use industries including defense and commercialize expected to drive the growth of the armored vehicle market. This market has witnessed a number of key developments by major companies including General Dynamics Corporation, Elbit Systems Ltd, Lockheed Martin, Rheinmetall AG, and others with a focus on organic as well as inorganic growth strategies.  Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Armored vehicles are used for safe transportation, and combat roles in the battlefield. Armored vehicles are used only in the defense sector. However, for a few years, VIPs, politicians, law enforcement agencies, etc., have also started using armored vehicles for transportation. Armored vehicles can be either wheeled or tracked depending on their type and use. Combat vehicles, combat support vehicles such as tanks, armored ambulances, and unmanned armored vehicles are some of its types.

Segment Analysis: 

The demand for armored vehicles has increased due to the rise in threat to national security and defense budget of governments. The North Atlantic Treaty Organization (NATO) countries and the African Union are collaborating to counter-terrorism, which is expected to drive the armored vehicle market. Moreover, due to the large procurement of battle tanks by countries such as France, Russia, Germany, the US, etc., the battle tanks have dominated the armored vehicle market.        

Key Factors Impacting Market Growth:

  • Increasing threat to national security threat
  • Growing security demand by politicians, VIPs, etc

Regional Analysis:

The Armored Vehicle market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and Rest of the World. The rest of the World includes South America and Africa. North America and the European region have been traditional regions for aerospace & defense sector with the presence of major manufacturers and high market demand. In addition to this, these regions have been aggressive in terms of technological developments and research. This is one of the key factors governing the demand for the armored vehicle market during the forecast period. Major countries in these regions include US, France, UK, Germany, Italy, Russia, Canada, and So on. This sector is one of the key contributors to the economies in the region. 

The Asia Pacific is estimated to be the fastest growing region with increasing expenditure on defense and space research. With the presence of some of fastest growing economies including India and China, this region is projected to be a major market for the armored vehicles during the forecast period. Other key countries in the region include South Korea, Japan, and Australia. The Middle East region promises a high potential demand for the armored vehicle market during the forecast period. Major countries in this region include UAE, Saudi Arabia, Iran, Israel, and others. The rest of World is an emerging market for an armored vehicles with demand from countries including South Africa, Brazil, Argentina, Nigeria, and others during the forecast period.

Companies Covered: General Dynamics Corporation, Elbit Systems Ltd, Lockheed Martin, Rheinmetall AG, Denel Land Systems, Sabiex International, and Diehl Defense…

Market Segmentation:

By Application:

  • Combat Vehicles
  • Combat Support Vehicles
  • Unmanned Armored vehicles
  • Others

By End-Use Industry:

  • Defense
  • Commercial

By Mobility:

  • Wheeled
  • Tracked

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Application
    • By End-Use Industry
    • By Mobility
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Application
    • By End-Use Industry
    • By Mobility
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Application
    • By End-Use Industry
    • By Mobility
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Application
    • By End-Use Industry
    • By Mobility
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Application
    • By End-Use Industry
    • By Mobility
  • Rest of the World
    • By Region (South America, Africa)
    • By Application
    • By End-Use Industry
    • By Mobility

Reasons To Buy This Report:  

  • Market size estimation of the armored Vehicle market on a regional and global basis
  • Unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all possible segments helping every stakeholder in the market

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