According to a new market report by Lucintel, the future of the 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.
Browse 150 pages and in-depth TOC on “Global Armored Vehicle Market"
In this market, combat vehicles, combat support vehicles, and unmanned armored ground vehicles are used in the military and defence industry. Lucintel forecasts that combat vehicles will remain the largest segment over the forecast period due to the increasing demand for armored personnel carriers (APCs) and light armored vehicles (LAVs) across the globe.
Within the armored vehicle market, engine, drive system, ballistic armor, turrent drive, fire control system (FCS), armaments, ammunition handling system, countermeasure system, and command and control system are the major segment by system type. Armaments 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.
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. Oshkosh Defense LLC, BAE Systems, Rheinmetall AG, General Dynamics Corporation, International Armored Group, Krauss-Maffei Wegmann GmbH & Co. (KMW), Lenco Industries, Inc., Lockheed Martin Corporation, STREIT Group and INKAS Armored Vehicle Manufacturing are the major suppliers in the global armored vehicle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global armored vehicle market by platform, mobility, system and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Armored Vehicles Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global armored vehicle 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
o4X4
o6X6
o8X8
oOthers
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
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/armored-vehicle-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the 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?