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Armored Vehicle Market Trends and Forecast

The future of the global armored vehicle market looks promising with opportunities in combat vehicles, combat support vehicles, and unmanned armored ground vehicle markets. The global armored vehicle market is expected to grow with a CAGR of 5% to 7% from 2022 to 2027. The major drivers for this market are raising military expenditures, rising incidences of asymmetric warfare across the globe, and increasing focus on protecting soldiers from external and internal threats.
Armored Vehicles Market by Platform, Mobility, and System

Emerging Trends in the Armored Vehicle Market

Emerging trends, which have a direct impact on the dynamics of the industry, include increased adoption of unmanned combat ground vehicles by defense forces of different countries, growing adoption of active protection system (APCs) and technological progressions related to armored vehicle manufacturing.
A more than 150-page report is developed to help in your business decisions.  Sample figure with some insights is shown below.

 
Armored Vehicle Market by Segments

 
Armored Vehicle Market by Segment

In this market, combat vehicles are the largest market by platform, whereas armaments are largest segment by system. The study includes a forecast for the global armored vehicles market by platform, mobility, system, and region as follows:
 

Armored Vehicle Market by Platform [Value ($B) shipment analysis for 2016-2027]:

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

 Armored Vehicle Market by Mobility [Value ($B) shipment analysis for 2016-2027]:

  • Tracked
  • Wheeled
    • 4X4
    • 6X6
    • 8X8
    • Others

 Armored Vehicle Market by System [Value ($B) shipment analysis for 2016-2027]:

  • Engine
  • Drive System
  • Ballistic Armor
  • Turret Drive
  • Fire Control System (FCS)
  • Armaments
  • Ammunition Handling System
  • Countermeasure System
  • Others

Armored Vehicle Market by Region Type [Value ($B) shipment analysis for 2016-2027]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Armored Vehicle Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies armored vehicles companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the armored vehicle companies profiled in this report include. 

Armored Vehicle Market Insights

  • Lucintel forecasts that combat vehicles will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the increasing demand for armored personnel carriers (APCs) and light armored vehicles (LAVs) across the globe.
  • Armaments segment is expected to remain the largest segment due to the increased demand for remote weapon stations, Anti-tank Guided Missile (ATGM) launchers, and other armaments across the globe.
  • APAC will remain the largest region due to the rising number of terrorist activities in this region, increasing spending of emerging economies on defense operations and increasing government initiatives to strengthen the military power for countering terrorism.

Features of the Armored Vehicle Market

  • Market Size Estimates: Armored Vehicles market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
  • Segmentation Analysis: Armored Vehicles market size by various segments, such as by platform, mobility, system and region in terms of value ($B)
  • Regional Analysis: Armored Vehicles market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by platform, mobility, system and regions for the armored vehicles market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Armored Vehicles market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the armored vehicle market size?
Answer: The global armored vehicles market is expected to reach an estimated $XX billion by 2027.
Q2. What is the growth forecast for armored vehicle market?
Answer: The global armored vehicle market is expected to grow with a CAGR of 5% to 7% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the armored vehicle market?
Answer: The major drivers for this market are raising military expenditures across the globe, rising incidences of asymmetric warfare across the globe and rising focus on protecting soldiers from external and internal threats.
Q4. What are the major segments for armored vehicle market?
Answer: The future of the global armored vehicle market  looks promising with opportunities in the engine; drive system; ballistic armor; turrent drive, fire control system (FCS); armaments; ammunition handling system; countermeasure system; command and control system; power system, navigation system, observation & display system and hull/frame market.
Q5. What are the emerging trends in armored vehicle market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increased adoption of unmanned combat ground vehicles by defense forces of different countries, growing adoption of active protection system (APCs) and technological progressions related to armored vehicle manufacturing.
Q6. Who are the key armored vehicles companies?
Answer: Some of the key armored vehicles companies are as follows:
Q7. Which armored vehicles segment will be the largest in future?
Answer: Lucintel forecasts that combat vehicle will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the increasing demand for armored personnel carriers (APCs) and light armored vehicles (LAVs) across the globe.
Q8. In armored vehicles market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to the rising number of terrorist activities in this region, increasing spending of emerging economies on defense operations and increasing government initiatives to strengthen the military power for countering terrorism.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the armored vehicles market by platform (combat vehicles, combat support vehicles, and unmanned armored ground vehicles), mobility (tracked and wheeled), system (engine; drive system; ballistic armor; turrent drive, fire control system (FCS); armaments; ammunition handling system; countermeasure system; command and control system; power system, navigation system, observation & display system and hull/frame) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are the emerging trends in this market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
 
For any questions related to armored vehicle market or related to armored vehicle companies, armored vehicle market share, armored vehicle market analysis, armored vehicle market size, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1.Executive Summary

2. Global Armored Vehicle Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2016 to 2027
3.1: Macroeconomic Trends (2016-2021) and Forecast (2022-2027)
3.2: Global Armored Vehicle Market Trends (2016-2021) and Forecast (2022-2027)
3.3: Global Armored Vehicle Market by Platform
3.3.1: Combat Vehicles
3.3.2: Combat Support Vehicles
3.3.3: Unmanned Armored Ground Vehicles
3.4: Global Armored Vehicle Market by Mobility
3.4.1: Tracked
3.4.2: Wheeled
3.5: Global Armored Vehicle Market by System
3.5.1: Engine
3.5.2: Drive System
3.5.3: Ballistic Armor
3.5.4: Turrent Drive
3.5.5: Fire Control System (FCS)
3.5.6: Armaments
3.5.7: Ammunition Handling System
3.5.8: Countermeasure System
3.5.9: Others
 
4. Market Trends and Forecast Analysis by Region from 2016-227
4.1: Global Armored Vehicle Market by Region
4.2: North American Armored Vehicle Market
4.2.1: North American Armored Vehicle Market by Platform
4.2.2: North American Armored Vehicle Market by Mobility
4.3: European Armored Vehicle Market
4.3.1: European Armored Vehicle Market by Platform
4.3.2: European Armored Vehicle Market by Mobility
4.4: APAC Armored Vehicle Market 
4.4.1: APAC Armored Vehicle Market by Platform
4.4.2: APAC Armored Vehicle Market by Mobility
4.5: ROW Armored Vehicle Market 
4.5.1: ROW Armored Vehicle Market by Platform
4.5.2: ROW Armored Vehicle Market by Mobility
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.3: Operational Integration
5.4: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Armored Vehicle Market by Platform
6.1.2: Growth Opportunities for the Global Armored Vehicle Market by Mobility
6.1.3: Growth Opportunities for the Global Armored Vehicle Market by System
6.1.4: Growth Opportunities for the Global Armored Vehicle Market by Region
6.2: Emerging Trends in the Global Armored Vehicle Market 
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Armored Vehicle Market 
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Armored Vehicle Market 
6.3.4: Certification and Licensing
 
7. Company Profiles of Leading Players
7.1: Oshkosh Defense LLC
7.2: BAE Systems
7.3: Rheinmetall AG
7.4: General Dynamics Corporation
7.5: International Armored Group
7.6: Krauss-Maffei Wegmann GmbH & Co. (KMW)
7.7: Lenco Industries, Inc.
7.8: Lockheed Martin Corporation
7.9: STREIT Group
7.10: INKAS Armored Vehicle Manufacturing

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102 figures/charts and 79 tables are provided in this more than 150 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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