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
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 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.
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.
Key Market Players
Key players profiled in this report on the armored vehicles market include Oshkosh Corporation (US), UralVagonZavod (Russia), Ukroboronprom (Ukraine), 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
- 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 Tanks.
Scope of the Report
|
Report Metric |
Details |
|
Market size available for years |
20162025 |
|
Base year considered |
2017 |
|
Forecast period |
20182025 |
|
Forecast units |
Value (USD Million) |
|
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 vehicles 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)
- Armored Supply Trucks
- Unmanned Armored Ground Vehicles
by Mobility
- Wheeled
- 4x4
- 6x6
- 8x8
- Others
- Tracked
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
by Region
- North America
- Europe
- Asia Pacific
- Middle East
- Rest of the World
Key Questions
- What are the drivers, restraints, challenges, and opportunities that affect the dynamics of the armored vehicles market, and what is the subsequent market analysis of the associated trends?
- What are the key sustainability strategies adopted by leading players operating in the market?
- What are the upcoming disrupters in this market that can be potential targets for partnerships/mergers?
- Who are the top players operating in this market?
- Which geographies can be the potential revenue-generating pockets for the market?
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 Market
2.3.1.2 Segment Size of the 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 Vehicles Market, By Platform and Country
4.4 North America Armored Vehicles Market, By Mobility
4.5 Middle East Armored Vehicles 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 AdaptivCamouflage Systems
6.3.5 Hybrid Diesel-Electric Systems
6.4 Innovations & Patent Registrations
7 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 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
8.3.1.1 Increasing Use of Tracked Vehicles for Traverse Rough and Uneven Terrains
9 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 Vehicle 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 Vehicle Market
10.3.3 Germany
10.3.3.1 Germany is Expected to Emerge as the Largest West European Spenders in the Armored Vehicle 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 Vehicle 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 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 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 Vehicle 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
12.2 Textron Inc.
12.3 Otokar Otomotive Ve Savunma Sanayi
12.4 Denel Soc Ltd.
12.5 Krauss-Maffei Wegmann
12.6 Hanwha Corporation
12.7 Fnss
12.8 General Dynamics Corporation
12.9 Bae Systems PLC
12.10 Rheinmetall AG
12.11 China North Industries Corporation (Norinco)
12.12 Arquus
12.13 Nexter Group
12.14 Ordnance Factory Board
12.15 Ukroboronprom
12.16 Uralvagonzavod
12.17 Kurganmashzavod Jsc
12.18 St Engineering
12.19 Iveco
12.20 Mitsubishi Heavy Industries
12.21 Hyundai Rotem
12.22 Imi Systems
12.23 Tatra Trucks A.S.
12.24 Paramount Group
12.25 The Kalyani Group
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 (80 Tables)
Table 1 Important Innovations & Patent Registrations, 20102016
Table 2 Armored Vehicle Market, By Platform, 20162023 (USD Billion)
Table 3 Armored Combat Vehicles Market, By Type, 20162023 (USD Billion)
Table 4 Combat Support Vehicles Market, By Type, 20162023 (USD Million)
Table 5 Armored Supply Trucks Market, By Type, 20162023 (USD Million)
Table 6 Market, By Mobility, 20162023 (USD Billion)
Table 7 Wheeled Armored Vehicle Market, By Type, 20162023 (USD Billion)
Table 8 Market, By System, 20162023 (USD Million)
Table 9 Market, By Engine Type, 20162023 (USD Million)
Table 10 Market, By Drive Systems, 20162023 (USD Million)
Table 11 Market, By Ballistic Armor, 20162023 (USD Million)
Table 12 Market Size, By Region, 20162023 (USD Million)
Table 13 North America Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 14 North America Market Size, By Mobility, 20162023 (USD Million)
Table 15 North America Market Size, By System, 20162023 (USD Million)
Table 16 North America Market Size, By Country, 20162023 (USD Million)
Table 17 US Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 18 US Market Size, By Mobility, 20162023 (USD Million)
Table 19 Canada Market Size, By Platform, 20162023 (USD Million)
Table 20 Canada Market Size, By Mobility, 20162023 (USD Million)
Table 21 Europe Market Size, By Platform, 20162023 (USD Million)
Table 22 Europe Market Size, By Mobility, 20162023 (USD Million)
Table 23 Europe Market Size, By System, 20162023 (USD Million)
Table 24 Europe Armored Vehicles Market Size, By Country, 20162023 (USD Million)
Table 25 UK Market Size, By Platform, 20162023 (USD Million)
Table 26 UK Market Size, By Mobility, 20162023 (USD Million)
Table 27 Russia Armored Vehicles Market Size, By Platform, 20162023 (USD Million)
Table 28 Russia Market Size, By Mobility, 20162023 (USD Million)
Table 29 Germany Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 30 Germany Market Size, By Mobility, 20162023 (USD Million)
Table 31 France Armored Vehicles Market Size, By Platform, 20162023 (USD Million)
Table 32 France Market Size, By Mobility, 20162023 (USD Million)
Table 33 Poland Market Size, By Platform, 20162023 (USD Million)
Table 34 Poland Market Size, By Mobility, 20162023 (USD Million)
Table 35 Ukraine Market Size, By Platform, 20162023 (USD Million)
Table 36 Ukraine Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 37 Rest of Europe Market Size, By Platform, 20162023 (USD Million)
Table 38 Rest of Europe Market Size, By Mobility, 20162023 (USD Million)
Table 39 Asia Pacific Market Size, By Platform, 20162023 (USD Million)
Table 40 Asia Pacific Market Size, By Mobility, 20162023 (USD Million)
Table 41 Asia Pacific Market Size, By System, 20162023 (USD Million)
Table 42 Asia Pacific Armored Vehicle Market Size, By Country, 20162023 (USD Million)
Table 43 China Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 44 China Market Size, By Mobility, 20162023 (USD Million)
Table 45 India Market Size, By Platform, 20163 (USD Million)
Table 46 India Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 47 Japan Market Size, By Platform, 20162023 (USD Million)
Table 48 Japan Market Size, By Mobility, 20162023 (USD Million)
Table 49 Australia Market Size, By Platform, 20162023 (USD Million)
Table 50 Australia Market Size, By Mobility, 20162023 (USD Million)
Table 51 South Korea Market Size, By Platform, 20162023 (USD Million)
Table 52 South Korea Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 53 Rest of Asia Pacific Market Size, By Platform, 20162023 (USD Million)
Table 54 Rest of Asia Pacific Market Size, By Mobility, 20162023 (USD Million)
Table 55 Middle East Market Size, By Platform, 20162023 (USD Million)
Table 56 Middle East Market Size, By Mobility, 20162023 (USD Million)
Table 57 Middle East Market Size, By System, 20162023 (USD Million)
Table 58 Middle East Market Size, By Country, 20162023 (USD Million)
Table 59 UAE Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 60 UAE Market Size, By Mobility, 20162023 (USD Million)
Table 61 Saudi Arabia Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 62 Saudi Arabia Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 63 Israel Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 64 Israel Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 65 Turkey Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 66 Turkey Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 67 Rest of Middle East Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 68 Rest of Middle East Armored Vehicle Market Size, By Mobility, 20162023 (USD Million)
Table 69 Rest of the World Market Size, By Platform, 20162023 (USD Million)
Table 70 Rest of the World Market Size, By Mobility, 20162023 (USD Million)
Table 71 Rest of the World Armored Vehicle Market Size, By System, 20162023 (USD Million)
Table 72 Rest of the World Market Size, By Region, 20162023 (USD Million)
Table 73 Latin America Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 74 Latin America Market Size, By Mobility, 20162023 (USD Million)
Table 75 Africa Armored Vehicle Market Size, By Platform, 20162023 (USD Million)
Table 76 Africa Market Size, By Mobility, 20162023 (USD Million)
Table 77 Contracts, 20162018
Table 78 New Product Launches, 20152018
Table 79 Partnerships & Joint Ventures, 20152019
Table 80 Acquisition & Expansion, 20172019
List of Figures (46 Figures)
Figure 1 Armored Vehicles Market Segmentation
Figure 2 Research Flow
Figure 3 Armored Vehicles 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 Vehicle Market is Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 10 Wheeled Segment is Projected to Lead Market From 2018 to 2023
Figure 11 Armaments Segment is Projected to Lead Market From 2018 to 2023
Figure 12 Asia Pacific Armored Vehicles 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 Market in 2018
Figure 16 Wheeled Segment is Projected to Lead North America Market From 2018 to 2023
Figure 17 Combat Vehicles Segment is Estimated to Account for the Largest Share of Middle East 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 Market is Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 22 Wheeled Segment is Projected to Lead Market From 2018 to 2023
Figure 23 Armaments Segment is Projected to Lead Market From 2018 to 2023
Figure 24 Asia Pacific Armored Vehicles Market is Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 25 North America Armored Vehicle 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 Armored Vehicle Market in 2018
Figure 32 Competitive Leadership Mapping of 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.
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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.
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
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Armored Vehicles Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Armored Vehicles Market
We are trying to understand the armored vehicles requirement, subsegment categorization, and the Indian customers for such products.
Hi. I'm particularity interested in the sections of the market report which covers advancements and new innovations in ballistic armor as well as projections regarding the value and anticipated growth of the US market over the period covered. Many thanks.
Hi. I am after data for the following: 1. Global market size split by region (top 10 markets) 2. Top 5 suppliers 3. Top 10 buyers 4. Best selling model and specs Many Thanks