Armored Vehicles Market

Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), Mobility (Wheeled, Tracked), System (Engine, Drive Systems, Ballistic Armor, Turret Drive, C2 Systems), Region - Global Forecast to 2023

Report Code: AS 2369 Dec, 2019, by marketsandmarkets.com
Updated date -

[179 Pages Report] The armored vehicles market is projected to grow from USD 14.3 billion in 2018 to USD 16.8 billion by 2023, at a CAGR of 3.25% from 2018 to 2023. Growing demand for armored vehicles due to rise in the instances of cross-border conflicts and increasing incidences of asymmetric warfare across the globe are major factors driving the growth of the armored vehicles market. However, the absence of major OEMs of armored vehicles in the Middle East and Asia Pacific region and occurrence of mechanical, electrical, and other kinds of failure in armored vehicles are projected to hinder the growth of the market. The armored vehicle market has been analyzed primarily based on platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Group Vehicles), Mobility (Wheeled, Tracked), System (Engines, Drive Systems, Ballistic Armor, Turret Drive, C2 System), and region (North America, Europe, Asia Pacific, Middle East and rest of the world). The forecast period considered for this report is from 2018 to 2023, and 2017 is the base year.

Armored Vehicles Market

The combat vehicles segment is projected to lead the armored vehicles market from 2018 to 2023.

Based on platform, the armored vehicles market has been segmented into combat vehicles, combat support vehicles, and unmanned armored ground vehicles. The combat vehicles segment is projected to lead the market during the forecast period. Increasing demand for Armored Personnel Carriers (APCs) and Light Armored Vehicles (LAVs) across the globe is leading to the growth of the combat vehicles segment of the market.

The armaments segment is projected to lead the armored vehicles market during the forecast period.

Based on system, the armored vehicles market has been segmented into engines, drive systems, ballistic armor, turret drives, fire control systems, armaments, countermeasure systems, Command & Control (C2) systems, power systems, navigation systems, ammunition handling systems, observation & display systems, and hulls/frames. The armaments segment is estimated to lead the armored vehicle market from 2018 to 2023. The growth of this segment can be attributed to the increased demand for remote weapon stations, Anti-tank Guided Missile (ATGM) launchers, and other armaments across the globe.

The Asia Pacific armored vehicles market is projected to grow at the highest CAGR during the forecast period.

Armored Vehicles Market

The Asia Pacific armored vehicles market is projected to grow at the highest CAGR from 2018 to 2023. The growth of the market in this region can be attributed to the rising number of terrorist activities in this region and increasing spending of emerging economies on defense operations. Countries such as India and China have increased their defense budgets and are procuring advanced armored vehicles for their military operations. This, in turn, is expected to drive the growth of the Asia Pacific armored vehicle market during the forecast period.

Driver: Increasing demand for armored vehicles due to rise in the instances of cross-border conflicts

Over the past few years, there has been a rise in instances of armed conflicts and disputes across the globe at both, intrastate and interstate levels. Some of the ongoing conflicts such as the war against Islamic State in Iraq, the civil war in Syria, North Korean crisis, and the war against Taliban in Afghanistan have also had their significant impact on the global economy. These conflicts mobilized military and law enforcement agencies of major economies of the world, including the US, the UK, and France, among others. Although the defense budget cuts by these countries over the past few years resulted in a reduction in the size of their military troops, the demand for armored vehicles has remained more or less the same, owing to their increased use by civilians, and local and national law enforcement agencies in affected areas, primarily for the safety and protection of users from ballistic and blast attacks.

Restraints Occurrence of mechanical, electrical, and other kinds of failure in armored vehicles

Armored vehicles are prone to mechanical strain caused by their movement on uneven terrains and logistical strain caused by cross-country operations. Continuous high-speed traversing by these vehicles often results in mechanical failure of their engines and transmission systems. Moreover, they also suffer from power failures, breakdown of components, and jamming of parts, among others. These failures are sometimes hard to be rectified by rescue & recovery teams, thereby leading to critical situations during wars. Moreover, the detection of faulty components or parts resulting in malfunctioning of armored vehicles is sometimes hard. Thus, manufacturers of armored vehicles are continuously making efforts to rectify these failures by developing new and innovative designs using composites and installing advanced systems in these vehicles.

Opportunities: Development of modular and scalable armored vehicles

Armored vehicles are equipped with multi-mission systems that can be reconfigured to enhance mission effectiveness of these vehicles. Armored vehicles have modular mission payloads with an open architecture that can be integrated with other systems to support a range of operations. These vehicles can also be interfaced with third-party payloads such as RWS, interrogation arms, and RSTA systems to support combat, Chemical, Biological, Radiological, and Nuclear (CBRN) defense, RSTA, and route clearance missions. Armored vehicles are also equipped with interchangeable weapon systems based on the mission requirements. For instance, infantry fighting vehicles can be upgraded with high caliber weapons and additional situational awareness systems to enhance their firepower. The flexibility to install multiple payload systems increases the efficiency of armored vehicles, lowers their lifecycle costs, and reduces soldier workload. Modularity in armored vehicles has led to the development of various new scalable systems that can be easily integrated with other systems.

Challenges: Survivability issues

Armored vehicles are used by defense forces for several reasons. The primary reason, however, being the protection of onboard personnel against Improvised Explosive Devices (IEDs), mines, and ballistic attacks, among others. However, the use of advanced weapon systems, powerful IEDs, and various advanced counter-countermeasure systems by enemy forces often lead to survivability issues for personnel onboard armored vehicles. These vehicles are facing issues in safeguarding lives of onboard personnel from the threats.

Regional market shares and CAGRs of the Armored Vehicles market

Armored Vehicles Market

Scope of the Report

Report Metric

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value (USD Billion)

Segments covered

Platform, Mobility, System, and Region

Geographies covered

North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW)

Companies covered

Oshkosh Corporation (US), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (US), BAE Systems plc (UK), NORINCO (China), Rheinmetall AG (Germany), and Textron Inc. (US)., among others.

This research report categorizes the armored vehicle market into the following segments and subsegments:

Armored Vehicles Market, by Platform

  • Combat Vehicles
    • Main Battle Tanks (MBTs)
    • Infantry Fighting Vehicles (IFVs)
    • Armored Personnel Carriers (APCs)
    • Armored Amphibious Vehicles (AAVs)
    • Mine-resistant Ambush Protected (MRAP)
    • Light Protected Vehicles (LPVs)
    • Self-propelled Howitzers
    • Air Defense Vehicles
    • Armored Mortar Carriers (AMCs)
  • Combat Support Vehicles
    • Armored Supply Trucks
    • Armored Fuel Trucks
    • Armored Ammunition Replenishment Vehicles
    • Armored Ambulances
    • Armored Command and Control Vehicles
    • Repair and Recovery Vehicles
    • Others (Bridge-laying Tanks and Mine Clearing Vehicles)
  • Unmanned Armored Ground Vehicles

    Armored Vehicle Market, by Mobility

    • Wheeled
      • 4x4
      • 6x6
      • 8x8
      • Others
    • Tracked

    Armored Vehicle Market, by System

    • By Engines
      • Diesel Engines
      • Turbine Engines
    • By Drive Systems
      • Power Transmission Drives
      • Suspension and Braking Systems
      • Tracks and Wheels
    • Ballistic Armor
      • Composite Armor
      • Explosive Reactive Armor
      • Electric Armor
      • Homogenous Armor
      • Depleted Uranium Armor
      • Add-on Armor
      • Others (Wire Cage Armor and Slat Armor)
    • Turret Drives
    • Ammunition Handling Systems
    • Fire Control Systems
    • Armaments
    • Countermeasure Systems
    • Command & Control (C2) Systems
    • Power Systems
    • Navigation Systems
    • Observation & Display Systems
    • Hulls/Frames

    Armored Vehicle Market, by Region

    • North America
    • Europe
    • Asia Pacific
    • Middle East
    • Rest of the World

    Key Market Players

    Key players profiled in this report on the armored vehicles market include Oshkosh Corporation (US), UralVagonZavod (Russia), General Dynamics Corporation (US), BAE Systems plc (UK), NORINCO (China), Rheinmetall AG (Germany), and Textron Inc. (US). Contracts and new product launches were key strategies adopted by the leading players to achieve growth in the market.

    Recent Developments: Armored vehicles market

    • BAE Systems received a contract worth USD 376.0 million from the US Government for the Engineering, Development, and Manufacture (EDM) of Mobile Protected Firepower (MPF) vehicles.
    • Oshkosh Corporation received a contract worth USD 1.69 billion from the US Army to supply over 6,000 armored vehicles.
    • KMW received a contract worth USD 832.0 million from the Government of Germany for upgrading its 104 Leopard 2 Battle Tank

    Critical questions the report answers:

    • Where will all these developments take the industry in the long term?
    • What are the upcoming trends in the armoured vehicles market?
    • Which segment provides the most opportunity for growth?
    • Who are the leading vendors operating in this market?
    • What are the opportunities for new market entrants?

    Available Customizations:

    Along with market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

    • Market Segmentation, by System
      • Country-wise breakup
    • Combat Vehicles Market
      • By Region
    • Cross market can be provided such as:
      • Platform by Mobility

    To speak to our analyst for a discussion on the above findings, click Speak to Analyst

    Table of Contents

    1 Introduction (Page No. - 21)
        1.1 Objectives of the Study
        1.2 Market Definition
        1.3 Study Scope
               1.3.1 Markets Covered
               1.3.2 Regional Scope
               1.3.3 Years Considered for the Study
        1.4 Currency & Pricing
        1.5 Limitations
        1.6 Market Stakeholders

    2 Research Methodology (Page No. - 25)
        2.1 Research Data
               2.1.1 Secondary Data
                        2.1.1.1 Key Data From Secondary Sources
               2.1.2 Primary Data
                        2.1.2.1 Key Data From Primary Sources
                        2.1.2.2 Breakdown of Primaries
        2.2 Market Size Estimation
               2.2.1 Market Definition & Scope
               2.2.2 Exclusions
        2.3 Research Approach & Methodology
               2.3.1 Bottom-Up Approach
                        2.3.1.1 Regional Armored Vehicle Market
                        2.3.1.2 Segment Size of the Armored Vehicle Market
               2.3.2 Top-Down Approach
        2.4 Market Breakdown & Data Triangulation
        2.5 Research Assumptions

    3 Executive Summary (Page No. - 35)

    4 Premium Insights (Page No. - 38)
        4.1 Attractive Growth Opportunities in Armored Vehicles Market
        4.2 Armored Combat Vehicles Market, By Type
        4.3 Europe Armored Vehicle Market, By Platform and Country
        4.4 North America Armored Vehicle Market, By Mobility
        4.5 Middle East Armored Vehicle Market, By Platform

    5 Market Overview (Page No. - 41)
        5.1 Introduction
        5.2 Market Dynamics
               5.2.1 Drivers
                        5.2.1.1 Increasing Demand for Armored Vehicles Due to Rise in the Instances of Cross-Border Conflicts
                        5.2.1.2 Rising Incidences of Asymmetric Warfare Across the Globe
               5.2.2 Restraints
                        5.2.2.1 Absence of Major OEMs of Armored Vehicles in the Middle East and Asia Pacific Regions
                        5.2.2.2 Occurrence of Mechanical, Electrical, and Other Kinds of Failure in Armored Vehicles
               5.2.3 Opportunities
                        5.2.3.1 Military Modernization Plans Across the Globe
                        5.2.3.2 Increased Adoption of Unmanned Combat Ground Vehicles By Defense Forces of Different Countries
                        5.2.3.3 Development of Modular and Scalable Armored Vehicles
               5.2.4 Challenges
                        5.2.4.1 High Costs of Main Battle Tanks
                        5.2.4.2 Survivability Issues

    6 Industry Trends (Page No. - 45)
        6.1 Introduction
        6.2 Technology Trends
               6.2.1 Active Protection Systems
                        6.2.1.1 Soft-Kill Technology
                        6.2.1.2 Electro-Optical Jammers
                        6.2.1.3 Hard-Kill Technology
               6.2.2 Micro-Electro-Mechanical Systems (MEMS) and Nanotechnology
               6.2.3 Reactive Armor Technology
               6.2.4 Interoperable Communication Systems
               6.2.5 Programmable Ammunition
               6.2.6 Linkless Feed Systems
               6.2.7 Improved Ammunition Carrying Capability
               6.2.8 Ammunition Feed Chutes
               6.2.9 Sensor Fusion Technology
               6.2.10 Advanced Autoloaders
        6.3 Use Cases
               6.3.1 Victory: Vehicle Integration for C4ISR/Electronic Warfare Interoperability
               6.3.2 Electric Armor
               6.3.3 See-Through Armor (STA)
               6.3.4 Adaptiv–Camouflage Systems
               6.3.5 Hybrid Diesel-Electric Systems
        6.4 Innovations & Patent Registrations

    7 Armored Vehicle Market, By Platform (Page No. - 53)
        7.1 Introduction
        7.2 Combat Vehicles
               7.2.1 Main Battle Tanks (MBTs)
                        7.2.1.1 Increasing Demand of MBTs for Offensive Cross Country Operations
               7.2.2 Infantry Fighting Vehicles (IFVs)
                        7.2.2.1 Procurement of IFVs By Emerging Countries Leading to Increase in Demand for IFVs
               7.2.3 Armored Personnel Carriers (APCs)
                        7.2.3.1 Increasing Demand for Armored Personnel Carriers Because of Terrorist Attacks and Asymmetric Warfare Operations
               7.2.4 Armored Amphibious Vehicles (AAVs)
                        7.2.4.1 Amphibious Armored Vehicles Used By Military Forces for Amphibious Operation is Estimated to Increase the Demand for AAVs
               7.2.5 Mine-Resistant Ambush Protected (MRAP)
                        7.2.5.1 Use of MRAPs for Troops Protection From Ieds and Mines
               7.2.6 Light Armored Vehicles (LAVs)
                        7.2.6.1 Increasing Use of LAVs for Patrolling Borders, Carrying Out Isr Activities, and Transporting Defense Personnel
               7.2.7 Self-Propelled Howitzers (SPHS)
                        7.2.7.1 Increasing Demand for 155mm Guns for Long Range Firing Operations
               7.2.8 Air Defense Vehicles
                        7.2.8.1 Adoption of Vehicle Mounted Anti-Aircraft Guns for Air Defense Roles
               7.2.9 Armored Mortar Carriers
                        7.2.9.1 Demand for Integrated Armored Vehicles With Mortars and Having Dedicated Compartment Available for Mortar Storage
        7.3 Combat Support Vehicles
               7.3.1 Armored Supply Trucks
                        7.3.1.1 Armored Fuel Trucks
                                   7.3.1.1.1 Increasing Use of Armored Fuel Trucks for Supplying and Transporting Gas, Diesel, Or Jet Fuels to Forward Arming and Refueling Points
                        7.3.1.2 Armored Ammunition Replenishment Vehicles
                                   7.3.1.2.1 Demand for Vehicles to Replenish Ammunition to Vehicles and Forward Bases During Warfare Operations
                        7.3.1.3 Armored Ambulances
                                   7.3.1.3.1 Dependence of Armed Forces on Armored Ambulances for Transporting Injured Defense Personnel and Casualties to Medical Facilities
               7.3.2 Armored Command and Control Vehicles
                        7.3.2.1 Increasing Adoption of C2 Vehicles for Mobile Armored Operations
               7.3.3 Repair and Recovery Vehicles
                        7.3.3.1 Increasing Demand for Towing Or Repairing of Combat Vehicles in Battlefield
               7.3.4 Others
        7.4 Unmanned Armored Ground Vehicles
               7.4.1 Increasing Research & Development Activities to Develop Unmanned Armored Ground Vehicles for Warfare Role

    8 Armored Vehicle Market, By Mobility (Page No. - 60)
        8.1 Introduction
        8.2 Wheeled
               8.2.1 4x4
                        8.2.1.1 Increasing Use of 4x4 Light Armored Vehicles for Patrolling Borders, Carrying Out Isr Activities, and Transporting Defense
               8.2.2 6x6
                        8.2.2.1 Adoption of IFVS and APCS in Emerging Countries
               8.2.3 8x8
                        8.2.3.1 Demand for Modular Multi-Wheel Vehicles
               8.2.4 Others
        8.3 Tracked
               8.3.1 Increasing Use of Tracked Vehicles for Traverse Rough and Uneven Terrains

    9 Armored Vehicle Market, By System (Page No. - 64)
        9.1 Introduction
        9.2 Engines
               9.2.1 Diesel Engines
                        9.2.1.1 Demand of Robust and Durable Diesel Engines for Armored Vehicles
               9.2.2 Turbine Engines
                        9.2.2.1 Procurement and Modernization of MBTS is Increasing the Demand for Turbine Engines
        9.3 Drive Systems
               9.3.1 Power Transmission Drives
                        9.3.1.1 Increasing Adoption of Robust Gearboxes, Gears, Final Drives, Transfer Cases, and Yokes for Armored Vehicles
               9.3.2 Suspension & Braking Systems
                        9.3.2.1 Increasing Demand for Rugged Suspension Systems on Armored Vehicles
               9.3.3 Tracks and Wheels
                        9.3.3.1 Demand for Tracks, Wheels, Trackpads, and Track Adjuster Assembly for Armored Vehicles
        9.4 Ballistic Armor
               9.4.1 Composite Armor
                        9.4.1.1 Requirement of Reduction in Weight of Armored Vehicles With Increased Level of Protection
               9.4.2 Explosive Reactive Armor (ERA)
                        9.4.2.1 Deployment of ERA Over Wide Range of MBTS Worldwide
               9.4.3 Electric Armor
                        9.4.3.1 Increasing Demand for Highly Advance and Lightweight Ballistic Armor
               9.4.4 Homogenous Armor
                        9.4.4.1 Adoption of Low Cost and Durable Ballistic Armor on LAVS and MRAPs
               9.4.5 Depleted Uranium Armor
                        9.4.5.1 Increasing Demand for Highly Survivable Ballistic Armor for MBTS
               9.4.6 Add-On Armor
                        9.4.6.1 Wide Adoption of Lightweight Armor Protection
               9.4.7 Others
        9.5 Turret Drives
               9.5.1 Demand for Manual, Electric, Electro-Mechanical, and Electro-Hydraulic Turrets
        9.6 Ammunition Handling Systems
               9.6.1 Adoption of Ammunition Handling Systems for Reliabile Firing Operations
        9.7 Fire Control Systems (FCS)
               9.7.1 Adoption of FCS for Identifying, Tracking, and Hitting Targets Precisely
        9.8 Armaments
               9.8.1 Increasing Usage of Remote Weapon Stations on Armored Vehicles
        9.9 Countermeasure Systems
               9.9.1 Increasing Focus of Armed Forces for Safety of the Armored Vehicle By Equipping Them With Countermeasure Systems
        9.10 Command & Control (C2) Systems
               9.10.1 Demand for Telecommunication, Sensors, Data Storage, and Processing Power for Smooth and Effective Defense Missions
        9.11 Power Systems
               9.11.1 Requirement of Auxiliary Power Units for Uninterrupted Power Supply in Case of Malfunctioning of Engines Or Power Systems
        9.12 Navigation Systems
               9.12.1 Adoption of Highly Accurate Navigation Systems for Determining Their Orientation and Positioning of the Vehicle
        9.13 Observation & Display Systems
               9.13.1 Adoption of Vehicle Mounted Display Systems Capable of Free Movement in Azimuth and Elevation
        9.14 Hulls/Frames
               9.14.1 Use of Advance V-Hull Design for Increased Survivability of Onboard Crew

    10 Regional Analysis (Page No. - 73)
         10.1 Introduction
         10.2 North America
                 10.2.1 US
                            10.2.1.1 US is One of the Most Lucrative Markets for Armored Vehicles
                 10.2.2 Canada
                            10.2.2.1 The Growth of Armored Vehicles in Canada is Driven By the Military Modernization Programs
         10.3 Europe
                 10.3.1 UK
                            10.3.1.1 Mid-Life Upgrade of Its Warrior Infantry Fighting Vehicles is Driving the Growth of Armored Vehicles Market in UK
                 10.3.2 Russia
                            10.3.2.1 The Replacement of Aged Combat Vehicles Fleet in Russia is Driving the Growth of Armored Vehicles Market
                 10.3.3 Germany
                            10.3.3.1 Germany is Expected to Emerge as the Largest West European Spenders in the Armored Vehicles Market
                 10.3.4 France
                            10.3.4.1 Procurement of New Generation Wheeled Combat Vehicles for Its Defense Forces are Driving the Market of France
                 10.3.5 Poland
                            10.3.5.1 Procurement of A Light Tank Boasting Multi-Layer Ceramic-Aramid Armor Equipped Armored Vehicle is Driving the Market of Poland
                 10.3.6 Ukraine
                            10.3.6.1 Safeguarding Internal Security has Led to the Growth of the Armored Vehicle Market in Ukraine
                 10.3.7 Rest of Europe
                            10.3.7.1 Combat Vehicles Segment is Estimated to Lead Platforms Market in the Rest of Europe
         10.4 Asia Pacific
                 10.4.1 China
                            10.4.1.1 Increasing Investment to Strengthen Its Military Due to Cross Border Conflicts, Would Led to Increase in the Demand of Armored Vehicles Market
                 10.4.2 India
                            10.4.2.1 Increasing Instances of Terrorist Strikes, Border Disputes, Sensitive Multi-Cultural Issues, and Rampant Crime Would Led to More Procurement of Armored Vehicles
                 10.4.3 Japan
                            10.4.3.1 High-End Indigenous Military Technologies, Drives the Market of Armored Vehicles in Japan
                 10.4.4 Australia
                            10.4.4.1 Increasing Modernization of Combat Fleets, Drives the Growth of the Market in Australia
                 10.4.5 South Korea
                            10.4.5.1 Vehicle Modernization Programs, Addition of Advanced MBTS and IFVS, and Conflict With North Korea are the Prime Reasons for the Growth of Armored Vehicle Market in South Korea.
                 10.4.6 Rest of Asia Pacific
                            10.4.6.1 The Combat Support Vehicles Segment is Projected to Grow at A Significant Rate
         10.5 Middle East
                 10.5.1 UAE
                            10.5.1.1 Combat Vehicle Segment is Projected to Grow at the Significant Growth Rate
                 10.5.2 Saudi Arabia
                            10.5.2.1 Procurement of Main Battle Tanks, Armored Personnel Vehicles, and Sherpa Armored Vehicles Will Strengthen Its Defense Forces
                 10.5.3 Israel
                            10.5.3.1 Israel has Emerged as A Lucrative Market for Armored Vehicles in the Middle East
                 10.5.4 Turkey
                            10.5.4.1 Increasing Its Defense and Security Budget to Strengthen Its Military Would Led to Growth of Armored Vehicle Market
                 10.5.5 Rest of Middle East
                            10.5.5.1 Combat Vehicles Segment Market is Estimated to Grow at the Significant Rate
         10.6 Rest of the World
                 10.6.1 Latin America
                            10.6.1.1 The Growth of the Armored Vehicles Market in Latin America Can Be Attributed to the Increased Procurement of Armored Vehicles By Countries Such as Brazil, Mexico, and Argentina Among Others
                 10.6.2 Africa
                            10.6.2.1 Modernization of Armed Forces Would Led to the Growth of Armored Vehicles Market in Africa

    11 Competitive Landscape (Page No. - 111)
         11.1 Introduction
         11.2 Company Rank Analysis, 2018
         11.3 Competitive Situations and Trends
                 11.3.1 Contracts
                 11.3.2 New Product Launches
                 11.3.3 Partnerships & Joint Ventures
                 11.3.4 Acquisition & Expansion
         11.4 Competitive Leadership Mapping
                 11.4.1 Visionary Leaders
                 11.4.2 Innovators
                 11.4.3 Dynamic Differentiators
                 11.4.4 Emerging Companies

    12 Company Profiles (Page No. - 118)
         12.1 Oshkosh Corporation
                 12.1.1 Business Overview
                 12.1.2 Products/Solutions/Services Offered
                 12.1.3 Recent Developments
                 12.1.4 SWOT Analysis
                 12.1.5 MnM View
         12.2 Textron Inc.
                 12.2.1 Business Overview
                 12.2.2 Products/Solutions/Services Offered
                 12.2.3 Recent Developments
                 12.2.4 SWOT Analysis
                 12.2.5 MnM View
         12.3 Otokar Otomotive Ve Savunma Sanayi
                 12.3.1 Business Overview
                 12.3.2 Products/Solutions/Services Offered
                 12.3.3 Recent Developments
                 12.3.4 SWOT Analysis
                 12.3.5 MnM View
         12.4 Denel SOC Ltd.
                 12.4.1 Business Overview
                 12.4.2 Products/Solutions/Services Offered
                 12.4.3 Recent Developments
                 12.4.4 SWOT Analysis
                 12.4.5 MnM View
         12.5 Krauss-Maffei Wegmann
                 12.5.1 Business Overview
                 12.5.2 Products/Solutions/Services Offered
                 12.5.3 Recent Developments
         12.6 Hanwha Corporation
                 12.6.1 Business Overview
                 12.6.2 Products/Solutions/Services Offered
                 12.6.3 Recent Developments
                 12.6.4 SWOT Analysis
                 12.6.5 MnM View
         12.7 FNSS
                 12.7.1 Business Overview
                 12.7.2 Products/Solutions/Services Offered
                 12.7.3 Recent Developments
         12.8 General Dynamics Corporation
                 12.8.1 Business Overview
                 12.8.2 Products/Solutions/Services Offered
                 12.8.3 Recent Developments
                 12.8.4 SWOT Analysis
                 12.8.5 MnM View
         12.9 BAE Systems PLC
                 12.9.1 Business Overview
                 12.9.2 Products/Solutions/Services Offered
                 12.9.3 Recent Developments
                 12.9.4 SWOT Analysis
                 12.9.5 MnM View
         12.10 Rheinmetall AG
                 12.10.1 Business Overview
                 12.10.2 Products/Solutions/Services Offered
                 12.10.3 Recent Developments
                 12.10.4 SWOT Analysis
                 12.10.5 MnM View
         12.11 China North Industries Corporation (NORINCO)
                 12.11.1 Business Overview
                 12.11.2 Products/Solutions/Services Offered
                 12.11.3 MnM View
         12.12 Arquus
                 12.12.1 Business Overview
                 12.12.2 Products/Solutions/Services Offered
                 12.12.3 Recent Developments
         12.13 Nexter Group
                 12.13.1 Business Overview
                 12.13.2 Products/Solutions/Services Offered
                 12.13.3 Recent Developments
         12.14 Ordnance Factory Board
                 12.14.1 Business Overview
                 12.14.2 Products/Solutions/Services Offered
         12.15 Ukroboronprom
                 12.15.1 Business Overview
                 12.15.2 Products/Solutions/Services Offered
                 12.15.3 Recent Developments
         12.16 UralVagonZavod
                 12.16.1 Business Overview
                 12.16.2 Products/Solutions/Services Offered
                 12.16.3 Recent Developments
         12.17 Kurganmashzavod JSC
                 12.17.1 Business Overview
                 12.17.2 Products/Solutions/Services Offered
         12.18 ST Engineering
                 12.18.1 Business Overview
                 12.18.2 Products/Solutions/Services Offered
                 12.18.3 Recent Developments
                 12.18.4 SWOT Analysis
                 12.18.5 MnM View
         12.19 IVECO
                 12.19.1 Business Overview
                 12.19.2 Products/Solutions/Services Offered
                 12.19.3 Recent Developments
         12.20 Mitsubishi Heavy Industries
                 12.20.1 Business Overview
                 12.20.2 Products/Solutions/Services Offered
                 12.20.3 Recent Developments
                 12.20.4 MnM View
         12.21 Hyundai Rotem
                 12.21.1 Business Overview
                 12.21.2 Products/Solutions/Services Offered
                 12.21.3 Recent Developments
                 12.21.4 MnM View
         12.22 IMI Systems
                 12.22.1 Business Overview
                 12.22.2 Products/Solutions/Services Offered
         12.23 Tatra Trucks A.S.
                 12.23.1 Business Overview
                 12.23.2 Products/Solutions/Services Offered
                 12.23.3 Recent Developments
         12.24 Paramount Group
                 12.24.1 Business Overview
                 12.24.2 Products/Solutions/Services Offered
                 12.24.3 Recent Developments
         12.25 The Kalyani Group
                 12.25.1 Business Overview
                 12.25.2 Products/Solutions/Services Offered
                 12.25.3 Recent Developments

    13 Appendix (Page No. - 173)
         13.1 Discussion Guide
         13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
         13.3 Available Customization
         13.4 Related Reports
         13.5 Author Details


    List of Tables (104 Tables)

    Table 1 Important Innovations & Patent Registrations, 2010–2016
    Table 2 Armored Vehicles Market, By Platform, 2016–2023 (USD Billion)
    Table 3 Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 4 Armored Combat Vehicles Market, By Type, 2016–2023 (USD Billion)
    Table 5 Armored Combat Vehicles Market, By Region, 2016–2023 (USD Billion)
    Table 6 Main Battle Tanks (MBTS) Market, By Region, 2016–2023 (USD Billion)
    Table 7 Infantry Fighting Vehicles (IFVS) Market, By Region, 2016–2023 (USD Billion)
    Table 8 Armored Personnel Carriers (APCS) Market, By Region, 2016–2023 (USD Billion)
    Table 9 Armored Amphibious Vehicles (AAVS) Market, By Region, 2016–2023 (USD Billion)
    Table 10 Mine-Resistant Ambush Protected (MRAP) Market, By Region, 2016–2023 (USD Billion)
    Table 11 Light Armored Vehicles (LAVS) Market, By Region, 2016–2023 (USD Billion)
    Table 12 Self-Propelled Howitzers (SPHS) Market, By Region, 2016–2023 (USD Billion)
    Table 13 Air Defense Vehicles Market, By Region, 2016–2023 (USD Billion)
    Table 14 Armored Mortar Carriers Market, By Region, 2016–2023 (USD Billion)
    Table 15 Combat Support Vehicles Market, By Type, 2016–2023 (USD Million)
    Table 16 Combat Support Vehicles Market, By Region, 2016–2023 (USD Million)
    Table 17 Armored Supply Trucks Market, By Type, 2016–2023 (USD Million)
    Table 18 Armored Supply Trucks Market, By Region, 2016–2023 (USD Million)
    Table 19 Armored Fuel Trucks Market, By Region, 2016–2023 (USD Million)
    Table 20 Armored Ammunition Replenishment Vehicles Market, By Region, 2016–2023 (USD Million)
    Table 21 Armored Ambulances Market, By Region, 2016–2023 (USD Million)
    Table 22 Armored Command and Control Vehicles Market, By Region, 2016–2023 (USD Million)
    Table 23 Repair and Recovery Vehicles Market, By Region, 2016–2023 (USD Million)
    Table 24 Unmanned Armored Ground Vehicles Market, By Region, 2016–2023 (USD Million)
    Table 25 Armored Vehicles Market, By Mobility, 2016–2023 (USD Billion)
    Table 26 Wheeled Armored Vehicle Market, By Type, 2016–2023 (USD Billion)
    Table 27 4x4 Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 28 6x6 Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 29 8x8 Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 30 Others Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 31 Tracked Armored Vehicle Market, By Region, 2016–2023 (USD Billion)
    Table 32 Market, By System, 2016–2023 (USD Million)
    Table 33 Market, By Engine Type, 2016–2023 (USD Million)
    Table 34 Market, By Drive Systems, 2016–2023 (USD Million)
    Table 35 Market, By Ballistic Armor, 2016–2023 (USD Million)
    Table 36 Market Size, By Region, 2016–2023 (USD Million)
    Table 37 North America Armored Vehicles Market Size, By Platform, 2016–2023 (USD Million)
    Table 38 North America Market Size, By Mobility, 2016–2023 (USD Million)
    Table 39 North America Market Size, By System, 2016–2023 (USD Million)
    Table 40 North America Market Size, By Country, 2016–2023 (USD Million)
    Table 41 US Armored Vehicles Market Size, By Platform, 2016–2023 (USD Million)
    Table 42 US Market Size, By Mobility, 2016–2023 (USD Million)
    Table 43 Canada Market Size, By Platform, 2016–2023 (USD Million)
    Table 44 Canada Market Size, By Mobility, 2016–2023 (USD Million)
    Table 45 Europe Market Size, By Platform, 2016–2023 (USD Million)
    Table 46 Europe Market Size, By Mobility, 2016–2023 (USD Million)
    Table 47 Europe Market Size, By System, 2016–2023 (USD Million)
    Table 48 Europe Market Size, By Country, 2016–2023 (USD Million)
    Table 49 UK Armored Vehicles Market Size, By Platform, 2016–2023 (USD Million)
    Table 50 UK Market Size, By Mobility, 2016–2023 (USD Million)
    Table 51 Russia Market Size, By Platform, 2016–2023 (USD Million)
    Table 52 Russia Market Size, By Mobility, 2016–2023 (USD Million)
    Table 53 Germany Market Size, By Platform, 2016–2023 (USD Million)
    Table 54 Germany Market Size, By Mobility, 2016–2023 (USD Million)
    Table 55 France Market Size, By Platform, 2016–2023 (USD Million)
    Table 56 France Market Size, By Mobility, 2016–2023 (USD Million)
    Table 57 Poland Market Size, By Platform, 2016–2023 (USD Million)
    Table 58 Poland Market Size, By Mobility, 2016–2023 (USD Million)
    Table 59 Ukraine Market Size, By Platform, 2016–2023 (USD Million)
    Table 60 Ukraine Market Size, By Mobility, 2016–2023 (USD Million)
    Table 61 Rest of Europe Market Size, By Platform, 2016–2023 (USD Million)
    Table 62 Rest of Europe Market Size, By Mobility, 2016–2023 (USD Million)
    Table 63 Asia Pacific Market Size, By Platform, 2016–2023 (USD Million)
    Table 64 Asia Pacific Market Size, By Mobility, 2016–2023 (USD Million)
    Table 65 Asia Pacific Market Size, By System, 2016–2023 (USD Million)
    Table 66 Asia Pacific Market Size, By Country, 2016–2023 (USD Million)
    Table 67 China Armored Vehicle Market Size, By Platform, 2016–2023 (USD Million)
    Table 68 China Market Size, By Mobility, 2016–2023 (USD Million)
    Table 69 India Market Size, By Platform, 2016–3 (USD Million)
    Table 70 India Market Size, By Mobility, 2016–2023 (USD Million)
    Table 71 Japan Market Size, By Platform, 2016–2023 (USD Million)
    Table 72 Japan Market Size, By Mobility, 2016–2023 (USD Million)
    Table 73 Australia Market Size, By Platform, 2016–2023 (USD Million)
    Table 74 Australia Market Size, By Mobility, 2016–2023 (USD Million)
    Table 75 South Korea Armored Vehicle Market Size, By Platform, 2016–2023 (USD Million)
    Table 76 South Korea Market Size, By Mobility, 2016–2023 (USD Million)
    Table 77 Rest of Asia Pacific Market Size, By Platform, 2016–2023 (USD Million)
    Table 78 Rest of Asia Pacific Market Size, By Mobility, 2016–2023 (USD Million)
    Table 79 Middle East Market Size, By Platform, 2016–2023 (USD Million)
    Table 80 Middle East Market Size, By Mobility, 2016–2023 (USD Million)
    Table 81 Middle East Market Size, By System, 2016–2023 (USD Million)
    Table 82 Middle East Market Size, By Country, 2016–2023 (USD Million)
    Table 83 UAE Armored Vehicles Market Size, By Platform, 2016–2023 (USD Million)
    Table 84 UAE Market Size, By Mobility, 2016–2023 (USD Million)
    Table 85 Saudi Arabia Market Size, By Platform, 2016–2023 (USD Million)
    Table 86 Saudi Arabia Market Size, By Mobility, 2016–2023 (USD Million)
    Table 87 Israel Armored Vehicle Market Size, By Platform, 2016–2023 (USD Million)
    Table 88 Israel Market Size, By Mobility, 2016–2023 (USD Million)
    Table 89 Turkey Market Size, By Platform, 2016–2023 (USD Million)
    Table 90 Turkey Market Size, By Mobility, 2016–2023 (USD Million)
    Table 91 Rest of Middle East Armored Vehicles Market Size, By Platform, 2016–2023 (USD Million)
    Table 92 Rest of Middle East Market Size, By Mobility, 2016–2023 (USD Million)
    Table 93 Rest of the World Market Size, By Platform, 2016–2023 (USD Million)
    Table 94 Rest of the World Market Size, By Mobility, 2016–2023 (USD Million)
    Table 95 Rest of the World Market Size, By System, 2016–2023 (USD Million)
    Table 96 Rest of the World Market Size, By Region, 2016–2023 (USD Million)
    Table 97 Latin America Market Size, By Platform, 2016–2023 (USD Million)
    Table 98 Latin America Market Size, By Mobility, 2016–2023 (USD Million)
    Table 99 Africa Market Size, By Platform, 2016–2023 (USD Million)
    Table 100 Africa Market Size, By Mobility, 2016–2023 (USD Million)
    Table 101 Contracts, 2016–2018
    Table 102 New Product Launches, 2015–2018
    Table 103 Partnerships & Joint Ventures, 2015–2019
    Table 104 Acquisition & Expansion, 2017–2019


    List of Figures (46 Figures)

    Figure 1 Armored Vehicles Market Segmentation
    Figure 2 Research Flow
    Figure 3 Armored Vehicle Market: Research Design
    Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
    Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
    Figure 6 Market Size Estimation Methodology: Top-Down Approach
    Figure 7 Data Triangulation
    Figure 8 Assumptions for the Research Study
    Figure 9 Unmanned Armored Ground Vehicles Segment of Armored Vehicles Market is Projected to Grow at the Highest CAGR From 2018 to 2023
    Figure 10 Wheeled Segment is Projected to Lead Armored Vehicle Market From 2018 to 2023
    Figure 11 Armaments Segment is Projected to Lead Armored Vehicle Market From 2018 to 2023
    Figure 12 Asia Pacific Market is Projected to Grow at the Highest CAGR From 2018 to 2023
    Figure 13 Increased Use of Combat Vehicles for Overseas Military Operations and Upgradation of Existing Combat Platforms is Expected to Drive the Growth of Armored Vehicle Market From 2018 to 2023
    Figure 14 Light Protected Vehicles Segment is Projected to Lead Armored Combat Vehicles Market From 2018 to 2023
    Figure 15 Combat Vehicles Segment and Russia are Estimated to Account for the Largest Shares of Europe Armored Vehicles Market in 2018
    Figure 16 Wheeled Segment is Projected to Lead North America Armored Vehicles Market From 2018 to 2023
    Figure 17 Combat Vehicles Segment is Estimated to Account for the Largest Share of Middle East Armored Vehicle Market in 2018
    Figure 18 Drivers, Restraints, Opportunities, and Challenges: Armored Vehicles Market
    Figure 19 Benefits of Linkless Feed Systems:
    Figure 20 Properties of Advanced Autoloaders:
    Figure 21 Unmanned Armored Ground Vehicles Segment of Armored Vehicles Market is Projected to Grow at the Highest CAGR From 2018 to 2023
    Figure 22 Wheeled Segment is Projected to Lead the Market From 2018 to 2023
    Figure 23 Armaments Segment is Projected to Lead Market From 2018 to 2023
    Figure 24 Asia Pacific Market is Projected to Grow at the Highest CAGR From 2018 to 2023
    Figure 25 North America Market Snapshot
    Figure 26 Europe Market Snapshot
    Figure 27 Asia Pacific Market Snapshot
    Figure 28 Middle East Market Snapshot
    Figure 29 Rest of the World Armored Vehicles Market Snapshot
    Figure 30 Companies Adopted Contracts as the Key Growth Strategy From 2014 to 2018
    Figure 31 Rank Analysis of Top Players in Market in 2018
    Figure 32 Competitive Leadership Mapping of Armored Vehicles Market in 2018
    Figure 33 Oshkosh Corporation: Company Snapshot
    Figure 34 Oshkosh Corporation: SWOT Analysis
    Figure 35 Textron Inc.: Company Snapshot
    Figure 36 Textron Inc: SWOT Analysis
    Figure 37 Otokar Otomotiv Ve Savunma Sanayi: Company Snapshot
    Figure 38 Denel SOC Ltd.: Company Snapshot
    Figure 39 Hanwha Corporation: Company Snapshot
    Figure 40 General Dynamics Corporation: Company Snapshot
    Figure 41 BAE Systems PLC: Company Snapshot
    Figure 42 Rheinmetall AG: Company Snapshot
    Figure 43 UralVagonZavod: Company Snapshot
    Figure 44 ST Engineering: Company Snapshot
    Figure 45 Mitsubishi Heavy Industries: Company Snapshot
    Figure 46 Hyundai Rotem: Company Snapshot

    This research study involved extensive use of secondary sources, directories, and databases such as D&B Hoovers, Bloomberg Businessweek, the US Department of Defense (DOD), and Factiva to identify and collect information relevant to the armored vehicles market. Primary sources included industry experts from the core and related industries as well as preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all the segments of the value chain of this industry. All primary sources were interviewed to obtain and verify critical qualitative and quantitative information as well as to assess the growth prospects of the market during the forecast period from 2018 to 2025.

    Secondary Research:

    The share of companies in the armored vehicles market was determined using secondary data made available through paid and unpaid sources and by analyzing the product portfolios of major companies operating in the armored vehicles market. These companies were rated based on the performance and quality of their products. These data points were further validated by primary sources.

    Secondary sources that were referred to for this research study on the armored vehicles market included financial statements of companies offering armored vehicles and information from various trade, business, and professional associations, among others. Secondary data was collected and analyzed to arrive at the overall size of the armored vehicles market that was further validated by primary respondents.

    Primary Research:

    Extensive primary research was carried out after acquiring knowledge about the current scenario of the armored vehicles market through secondary research. Several primary interviews were conducted with the market experts from both, demand and supply sides across 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East, and Rest of the World (RoW). This primary data was collected through questionnaires, emails, and telephonic interviews.

    Armored Vehicles Market

    To know about the assumptions considered for the study, download the pdf brochure

    Market Size Estimation

    Both, top-down and bottom-up approaches were used to estimate and validate the size of the armored vehicles market.

    The research methodology that was used to estimate the size of the armored vehicles market included the following details:

    • Key players in the armored vehicles market were identified through secondary research, and their market shares were determined through primary and secondary research.
    • All percentage shares, splits, and breakdowns were determined using secondary sources and were verified through primary sources.
    • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data on the armored vehicles market.

    Data Triangulation

    After arriving at the overall size of the armored vehicles market through the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were implemented, wherever applicable to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from both, demand and supply sides. Along with this, the market size was validated using both, top-down and bottom-up approaches.

    Report Objectives

    • To define, describe, and forecast the size of the armored vehicles market based on platform, mobility, system, and region
    • To forecast the market size of various segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW), along with respective key countries
    • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the armored vehicles market
    • To identify industry trends, market trends, and technology trends currently prevailing in the armored vehicles market
    • To strategically analyze micromarkets with respect to individual technological trends and their contribution to the total armored vehicles market
    • To strategically profile key market players and comprehensively analyze their market share and core competencies
    • To track and analyze competitive developments such as contracts and new product launches in the armored vehicles market
    • To analyze the degree of competition in the market by mapping the contracts received and products and services offered by key market players
    • To identify detailed financial positions, key products, and unique selling points of leading companies in the market

    Influencing factors

    The armored vehicles market is influenced by market trends and dynamics. These include drivers, restraints, opportunities and challenges. The armored vehicles market is driven by several factors including; increasing demand for armored vehicles due to rise in the instances of cross-border conflicts and rising incidences of asymmetric warfare across the globe. These factors have led to increase in demand of combat vehicles across the globe. The combat vehicles segment is estimated to account for the largest market share of armored vehicles market in 2018.

    Armored Vehicles Market

    Available Customizations:

    Along with market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

    • Market Segmentation, by System
    • Country-wise breakup
    • Combat Vehicles Market
    • By Region
    Report Code
    AS 2369
    Published ON
    Dec, 2019
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