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, C2 Systems, Mode of Operation), Region - Global Forecast to 2025

Report Code: AS 2369 Jul, 2020, by marketsandmarkets.com

[327 Pages Report] The global armored vehicles market size is projected to grow from USD 11.6 billion in 2020 to USD 15.4 billion by 2025, at a CAGR of 5.8% from 2020 to 2025. Increasing demand for armored vehicles due to the rise in the instances of cross-border conflicts and rising 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 the occurrence of mechanical, electrical, and other kinds of failure in armored vehicles are projected to hinder the growth of the market.

Armored Vehicles Market

COVID-19 impact on the Global Armored Vehicles Market

The COVID-19 pandemic has caused a multi-level impact on economies globally. The global manufacturing of automotive parts, components, and assembly lines has been severely impacted. Although the production of armored vehicles is of prime importance, disruptions in the supply chain have set back their manufacturing for the time being.

Resuming the manufacturing and deliveries of armored vehicles depends on the level of COVID-19 exposure a country is facing, the level at which manufacturing operations are running, and import-export regulations, among others. Although companies may still be taking in orders, delivery schedules might not be fixed.

Armored Vehicles Market Dynamics

Driver: Rising incidences of asymmetric warfare across the globe

Asymmetric warfare refers to warfare, wherein opposite parties or nations have unequal military resources, and weaker opponents use unconventional weapons and tactics to exploit vulnerabilities of their enemies. There has been a significant rise in asymmetric warfare across the globe over the past decade due to political instability, religious, economic, and socio-cultural factors. The rise in the instances of asymmetric warfare has led government agencies to adopt combat vehicles for self-protection and defense against terrorist or insurgent attacks as armored vehicles offer protection against ballistic as well as blast attacks. Moreover, these vehicles have turret gun systems mounted on them to carry out counter-insurgency operations. For instance, India is using armored vehicles for carrying out its anti-Naxalite operations in east India. Thus, rising instances of asymmetric warfare are expected to lead to increased procurement of armored vehicles, globally, thereby driving the growth of the armored vehicles market during the forecast period.

Restraint: Absence of major OEMs of armored vehicles in the Middle East and Asia Pacific regions

The armored vehicles market is majorly concentrated in the North America and European regions, owing to the presence of large OEMs such as BAE Systems, General Dynamics, Rheinmetall, and Nexter Systems in these regions. However, the armored vehicles market in the Middle East and Asia Pacific is still emerging due to the low domestic production of armored vehicles in these regions. This results in the dependence of countries such as Saudi Arabia, UAE, India, the Philippines, and Qatar on foreign OEMs for armored vehicles. This results in expensive procurement of armored vehicles, thereby resulting in a decrease in their overall demand.

Opportunity: Increased adoption of unmanned combat ground vehicles by defense forces of different countries

The demand for unmanned systems has increased across the globe in recent years due to their growing use by military forces of different countries for carrying out Intelligence, Surveillance, and Reconnaissance (ISR) and combat operations. Moreover, the declining defense budgets of advanced economies such as the UK, Italy, Spain, Germany, and France have led to the increased procurement of unmanned systems to replace their defense personnel, which make use of large volumes of equipment and logistic support.

Challenge: High costs of main battle tanks

The design and development of main battle tanks require sufficient time, capital, and technical expertise. Main battle tanks are equipped with propulsion systems to enable their movement toward their targets. They are used for fire support by infantry soldiers. The unique capabilities of main battle tanks that include high lethality and improved maneuverability have led to their increased costs. The high costs involved in the development of advanced technologies for main battle tanks act as a key challenge to the growth of the armored vehicles market, especially for emerging economies such as India and China. The average cost of a main battle tank unit is approximately USD 6.0 million. This cost increases depending on the advanced specifications of weapons installed on these tanks. Thus, manufacturers prefer prototyping of weapons and their components prior to their development based on the global demand for main battle tanks as the failure of developed models result in huge losses.

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

Based on the platform, the armored vehicles market has been segmented into combat vehicles, combat support vehicles, and unmanned armored ground vehicles. The combat vehicle segment is projected to lead the armored vehicles 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 vehicle 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 vehicles 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 vehicle 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 the 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 vehicles market during the forecast period.

The recent COVID-19 pandemic is expected to impact the global automotive industry, including the military armored vehicles industry. The entire supply chain is disrupted due to a limited supply of parts. Chinese suppliers around the globe have placed production lines on halt or shut them down completely. Also, legal and trade restrictions, such as sealed borders, increase the shortage of required parts. Such disruptions in the supply chain is expected to affect the assembly of OEMs in Europe and North America.

Armored Vehicles Market by Region

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 armored vehicles market.

Scope of the Report

Report Metric

Details

Market size available for years

2018-2025

Base year considered

2019

Forecast period

2020-2025

Forecast units

Value (USD)

Segments covered

By Platform, By Mobility, By System, By Mode of By Operation, By Type, By Aftermarket and By Region

Geographies covered

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

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) (Total 25 companies)

This research report categorizes the Armored Vehicles Market based on platform, mobility, system, mode of operation, type, aftermarket, and region.

By Platform

  • Combat Vehicles
    • Main Battle Tank (MBT)
    • Infantry Fighting Vehicle (IFV)
    • Armored Personnel Carrier (APC)
    • Armored Amphibious Vehicle (AAV)
    • Mine-Resistant Ambush Protected (MRAP)
    • Light Protected Vehicle (LPV)
    • Self-propelled Howitzer
    • Armored Mortar Carrier
    • Air Defense Vehicle
  • Combat Support Vehicles
    • Armored Supply Trucks
      • Armored Fuel Truck
      • Armored Ambulance
      • Armored Ammunition Replenishment Vehicle
    • Armored Command and Control Vehicles
    • Repair and Recovery Vehicles
    • Others
  • Unmanned Armored Ground Vehicles

By Mobility

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

System

  • Engine
    • Diesel Engine
    • Turbine Engine
  • Drive System
    • Power Transmission Drives
    • Suspension & Braking System
    • Tracks and Wheels
  • Ballistic Armor
    • Composite Armor
    • Explosive Reactive Armor
    • Electric Armor
    • Homogenous Armor
    • Depleted Uranium Armor
    • Add-on Armor
    • Others
  • Turret Drive
  • Fire Control System (FCS)
  • Armaments
  • Ammunition Handling System
  • Countermeasure System
  • Command & Control System
  • Power System
  • Navigation System
  • Observation & Display System
  • Hull/Frame

By Mode of Operation

  • Manned
  • Unmanned

By Type

  • Electric
  • Conventional

Armored vehicles aftermarket

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.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 50)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                 FIGURE 1 ARMORED VEHICLES MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY & PRICING
    1.5 LIMITATIONS
    1.6 MARKET STAKEHOLDERS
    1.7 SUMMARY OF CHANGES
        FIGURE 2 ARMORED VEHICLES MARKET TO GROW AT A HIGHER RATE COMPARED TO PREVIOUS REPORT ESTIMATES

2 RESEARCH METHODOLOGY (Page No. - 55)
    2.1 RESEARCH DATA
        FIGURE 3 RESEARCH FLOW
        FIGURE 4 ARMORED VEHICLES MARKET: RESEARCH DESIGN
           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
                            FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
    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 COVID-19 impact on the market analysis
                    2.3.1.2 Regional armored vehicles market
                    2.3.1.3 Segment size of the armored vehicles market
                            FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN & DATA TRIANGULATION
        FIGURE 8 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS
        FIGURE 9 ASSUMPTIONS FOR THE RESEARCH STUDY

3 EXECUTIVE SUMMARY (Page No. - 65)
  FIGURE 10 UNMANNED ARMORED GROUND VEHICLES SEGMENT OF ARMORED VEHICLES MARKET IS PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
  FIGURE 11 WHEELED SEGMENT IS PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2020 TO 2025
  FIGURE 12 ARMAMENTS SEGMENT IS PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2020 TO 2025
  FIGURE 13 MANNED SEGMENT IS PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2020 TO 2025
  FIGURE 14 MIDDLE EAST ARMORED VEHICLES MARKET IS PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025

4 PREMIUM INSIGHTS (Page No. - 69)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN ARMORED VEHICLES MARKET
        FIGURE 15 INCREASED USE OF COMBAT VEHICLES FOR OVERSEAS MILITARY OPERATIONS AND UPGRADATION OF EXISTING COMBAT PLATFORMS IS EXPECTED TO DRIVE THE GROWTH OF ARMORED VEHICLES MARKET FROM 2020 TO 2025
    4.2 ARMORED COMBAT VEHICLES MARKET, BY TYPE
        FIGURE 16 LIGHT PROTECTED VEHICLES SEGMENT IS PROJECTED TO LEAD ARMORED COMBAT VEHICLES MARKET FROM 2020 TO 2025
    4.3 EUROPE ARMORED VEHICLES MARKET, BY PLATFORM AND COUNTRY
        FIGURE 17 COMBAT VEHICLES SEGMENT AND RUSSIA ARE ESTIMATED TO ACCOUNT FOR THE LARGEST SHARES OF EUROPE ARMORED VEHICLES MARKET IN 2020
    4.4 NORTH AMERICA ARMORED VEHICLES MARKET, BY MOBILITY
        FIGURE 18 WHEELED SEGMENT IS PROJECTED TO LEAD NORTH AMERICA ARMORED VEHICLES MARKET FROM 2020 TO 2025
    4.5 MIDDLE EAST ARMORED VEHICLES MARKET, BY PLATFORM
        FIGURE 19 COMBAT VEHICLES SEGMENT IS ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF MIDDLE EAST ARMORED VEHICLES MARKET IN 2020

5 MARKET OVERVIEW (Page No. - 73)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 20 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: ARMORED VEHICLES MARKET
           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
    5.3 MARKET DYNAMICS
           5.3.1 AVERAGE SELLING PRICE TREND
                 TABLE 1 AVERAGE SELLING PRICE OF MAIN BATTLE TANKS (USD MILLION)
                 TABLE 2 AVERAGE SELLING PRICE OF INFANTRY FIGHTING VEHICLES (USD MILLION)
                 TABLE 3 AVERAGE SELLING PRICE OF ARMORED PERSONNEL CARRIERS (USD MILLION)
                 TABLE 4 AVERAGE SELLING PRICE OF MINE-RESISTANT AMBUSH PROTECTED VEHICLES (USD MILLION)
                 TABLE 5 AVERAGE SELLING PRICE OF LIGHT PROTECTED VEHICLES (USD MILLION)
                 TABLE 6 AVERAGE SELLING PRICE OF SELF-PROPELLED HOWITZERS (USD MILLION)
                 TABLE 7 MAIN BATTLE TANKS VOLUME ANALYSIS, BY COUNTRY, 2016-2019
                 TABLE 8 INFANTRY FIGHTING VEHICLES VOLUME ANALYSIS, BY COUNTRY, 2016-2019
                 TABLE 9 SELF-PROPELLED HOWITZERS VOLUME ANALYSIS, BY COUNTRY, 2016-2019

6 INDUSTRY TRENDS (Page No. - 84)
    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
                 FIGURE 21 BENEFITS OF 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
        FIGURE 22 PROPERTIES OF 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
        TABLE 10 IMPORTANT INNOVATIONS & PATENT REGISTRATIONS, 2010–2016

7 ARMORED VEHICLES MARKET, BY PLATFORM (Page No. - 91)
    7.1 INTRODUCTION
        FIGURE 23 UNMANNED ARMORED GROUND VEHICLES SEGMENT OF ARMORED VEHICLES MARKET IS PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
        TABLE 11 ARMORED VEHICLES MARKET, BY PLATFORM, 2016–2019 (USD MILLION)
        TABLE 12 ARMORED VEHICLES MARKET, BY PLATFORM, 2020–2025 (USD MILLION)
    7.2 COMBAT VEHICLES
        TABLE 13 ARMORED COMBAT VEHICLES MARKET, BY TYPE, 2016–2019 (USD MILLION)
        TABLE 14 ARMORED COMBAT VEHICLES MARKET, BY TYPE, 2020–2025 (USD MILLION)
           7.2.1 MAIN BATTLE TANKS (MBTS)
                    7.2.1.1 Increasing demand for 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
        TABLE 15 COMBAT SUPPORT VEHICLES MARKET, BY TYPE, 2016–2019 (USD MILLION)
        TABLE 16 COMBAT SUPPORT VEHICLES MARKET, BY TYPE, 2020–2025 (USD MILLION)
           7.3.1 ARMORED SUPPLY TRUCKS
                 TABLE 17 ARMORED SUPPLY TRUCKS MARKET, BY TYPE, 2016–2019 (USD MILLION)
                 TABLE 18 ARMORED SUPPLY TRUCKS MARKET, BY TYPE, 2020–2025 (USD MILLION)
                    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 VEHICLES MARKET, BY MOBILITY (Page No. - 99)
    8.1 INTRODUCTION
        FIGURE 24 WHEELED SEGMENT IS PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2020 TO 2025
        TABLE 19 ARMORED VEHICLES MARKET, BY MOBILITY, 2016–2019 (USD MILLION)
        TABLE 20 ARMORED VEHICLES MARKET, BY MOBILITY, 2020–2025 (USD MILLION)
    8.2 WHEELED
        TABLE 21 WHEELED ARMORED VEHICLES MARKET, BY TYPE, 2016–2019 (USD MILLION)
        TABLE 22 WHEELED ARMORED VEHICLES MARKET, BY TYPE, 2020–2025 (USD MILLION)
           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 VEHICLES MARKET, BY SYSTEM (Page No. - 103)
    9.1 INTRODUCTION
        FIGURE 25 ARMAMENTS SEGMENT IS PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2020 TO 2025
        TABLE 23 ARMORED VEHICLES MARKET, BY SYSTEM, 2016–2019 (USD MILLION)
        TABLE 24 ARMORED VEHICLES MARKET, BY SYSTEM, 2020–2025 (USD MILLION)
    9.2 ENGINES
        TABLE 25 ARMORED VEHICLES MARKET, BY ENGINE TYPE, 2016–2019 (USD MILLION)
        TABLE 26 ARMORED VEHICLES MARKET, BY ENGINE TYPE, 2020–2025 (USD MILLION)
           9.2.1 DIESEL ENGINES
                    9.2.1.1 Demand for 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
        TABLE 27 ARMORED VEHICLES MARKET, BY DRIVE SYSTEMS, 2016–2019 (USD MILLION)
        TABLE 28 ARMORED VEHICLES MARKET, BY DRIVE SYSTEMS, 2020–2025 (USD MILLION)
           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
        TABLE 29 ARMORED VEHICLES MARKET, BY BALLISTIC ARMOR, 2016–2019 (USD MILLION)
        TABLE 30 ARMORED VEHICLES MARKET, BY BALLISTIC ARMOR, 2020–2025 (USD MILLION)
           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 a 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 RELIABLE 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 ARMORED VEHICLES MARKET, BY MODE OF OPERATION (Page No. - 113)
     10.1 INTRODUCTION
     10.2 MANNED ARMORED VEHICLES
             10.2.1 INVESTMENT BY US, UK, CHINA, SAUDI ARABIA DRIVES THE MARKET
     10.3 UNMANNED ARMORED VEHICLES
             10.3.1 DEVELOPMENT OF UGVS FOR COMBAT SUPPORT EXPECTED TO DRIVE MARKET
                    TABLE 31 TYPES OF UNMANNED ARMORED VEHICLES

11 ARMORED VEHICLES MARKET, BY TYPE (Page No. - 115)
     11.1 INTRODUCTION
     11.2 ELECTRIC ARMORED VEHICLES
             11.2.1 ADOPTION OF ELECTRIC ARMORED VEHICLES FOR NONCOMBAT ROLES EXPECTED TO DRIVE MARKET
     11.3 CONVENTIONAL ARMORED VEHICLES
             11.3.1 NEED FOR CONVENTIONAL ARMORED VEHICLES FOR LONG DISTANCE TRAVEL TO DRIVE MARKET

12 ARMORED VEHICLES AFTERMARKET (Page No. - 116)
     12.1 INTRODUCTION
     12.2 AFTERMARKET
          TABLE 32 NOTABLE MRO CONTRACTS

13 REGIONAL ANALYSIS (Page No. - 117)
     13.1 INTRODUCTION
     13.2 IMPACT OF COVID-19 ON THE ARMORED VEHICLES MARKET BY REGION
          FIGURE 26 ASIA PACIFIC ARMORED VEHICLES MARKET IS PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2018 TO 2019
          TABLE 33 ARMORED VEHICLES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
          TABLE 34 ARMORED VEHICLES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
     13.3 NORTH AMERICA
             13.3.1 PESTLE ANALYSIS: NORTH AMERICA
                        13.3.1.1 Political
                        13.3.1.2 Economical
                        13.3.1.3 social
                        13.3.1.4 Technological
                        13.3.1.5 Environmental
                        13.3.1.6 Legal
                                 FIGURE 27 NORTH AMERICA ARMORED VEHICLES MARKET SNAPSHOT
                                 TABLE 35 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 36 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 37 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 38 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 39 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 40 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020-2025 (USD MILLION)
                                 TABLE 41 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                                 TABLE 42 NORTH AMERICA ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
             13.3.2 US
                        13.3.2.1 US is one of the most lucrative markets for armored vehicles
                                 FIGURE 28 US DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 43 US ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 44 US ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 45 US ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 46 US ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 47 US ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 48 US ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 49 US COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 50 US ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 51 US COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 52 US ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 53 US COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 54 US ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.3.3 CANADA
                        13.3.3.1 The growth of armored vehicles in Canada is driven by the military modernization programs
                                 FIGURE 29 CANADA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 55 CANADA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 56 CANADA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 57 CANADA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 58 CANADA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 59 CANADA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 60 CANADA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 61 CANADA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 62 CANADA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 63 CANADA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 64 CANADA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 65 CANADA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 66 CANADA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
     13.4 EUROPE
             13.4.1 PESTLE ANALYSIS: EUROPE
                        13.4.1.1 Political
                        13.4.1.2 Economic
                        13.4.1.3 Social
                        13.4.1.4 Technological
                        13.4.1.5 Environmental
                        13.4.1.6 Legal
                                 FIGURE 30 EUROPE ARMORED VEHICLES MARKET SNAPSHOT
                                 TABLE 67 EUROPE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 68 EUROPE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 69 EUROPE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 70 EUROPE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 71 EUROPE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 72 EUROPE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020-2025 (USD MILLION)
                                 TABLE 73 EUROPE ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                                 TABLE 74 EUROPE ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
             13.4.2 UK
                        13.4.2.1 Mid-life upgrade of its warrior infantry fighting vehicles is driving the growth of armored vehicles market in the UK
                                 FIGURE 31 UK DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 75 UK ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 76 UK ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 77 UK ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 78 UK ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 79 UK ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 80 UK ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 81 UK COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 82 UK ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 83 UK COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 84 UK ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 85 UK COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 86 UK ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.3 RUSSIA
                        13.4.3.1 The replacement of aged combat vehicles fleet in Russia is driving the growth of armored vehicles market
                                 FIGURE 32 RUSSIA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 87 RUSSIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 88 RUSSIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 89 RUSSIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 90 RUSSIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 91 RUSSIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 92 RUSSIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 93 RUSSIA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 94 RUSSIA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 95 RUSSIA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 96 RUSSIA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 97 RUSSIA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 98 RUSSIA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.4 GERMANY
                        13.4.4.1 Germany is expected to emerge as the largest west European spenders in the armored vehicles market
                                 FIGURE 33 GERMANY DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 99 GERMANY ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 100 GERMANY ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 101 GERMANY ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 102 GERMANY ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 103 GERMANY ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 104 GERMANY ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 105 GERMANY COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 106 GERMANY ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 107 GERMANY COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 108 GERMANY ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 109 GERMANY COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 110 GERMANY ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.5 FRANCE
                        13.4.5.1 Procurement of new generation wheeled combat vehicles for its defense forces are driving the market of France
                                 FIGURE 34 FRANCE DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 111 FRANCE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 112 FRANCE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 113 FRANCE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 114 FRANCE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 115 FRANCE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 116 FRANCE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 117 FRANCE COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 118 FRANCE ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 119 FRANCE COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 120 FRANCE ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 121 FRANCE COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 122 FRANCE ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.6 POLAND
                        13.4.6.1 Procurement of a light tank boasting multi-layer ceramic-aramid armor equipped armored vehicle is driving the market of Poland
                                 FIGURE 35 POLAND DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 123 POLAND ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 124 POLAND ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 125 POLAND ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 126 POLAND ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 127 POLAND ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 128 POLAND ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 129 POLAND COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 130 POLAND ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 131 POLAND COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 132 POLAND ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 133 POLAND COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 134 POLAND ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.7 UKRAINE
                        13.4.7.1 Safeguarding internal security has led to the growth of the armored vehicles market in Ukraine
                                 TABLE 135 UKRAINE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 136 UKRAINE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 137 UKRAINE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 138 UKRAINE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 139 UKRAINE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 140 UKRAINE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 141 UKRAINE COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 142 UKRAINE ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 143 UKRAINE COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 144 UKRAINE ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 145 UKRAINE COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 146 UKRAINE ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.4.8 REST OF EUROPE
                        13.4.8.1 Combat vehicles segment is estimated to lead platforms market in the rest of Europe
                                 TABLE 147 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 148 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 149 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 150 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 151 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 152 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 153 REST OF EUROPE COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 154 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 155 REST OF EUROPE COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 156 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 157 REST OF EUROPE COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 158 REST OF EUROPE ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
     13.5 ASIA PACIFIC
             13.5.1 PESTLE ANALYSIS: ASIA PACIFIC
                        13.5.1.1 Political
                        13.5.1.2 Economic
                        13.5.1.3 Social
                        13.5.1.4 Technological
                        13.5.1.5 Environmental
                        13.5.1.6 Legal
                                 FIGURE 36 ASIA PACIFIC ARMORED VEHICLES MARKET SNAPSHOT
                                 TABLE 159 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 160 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 161 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 162 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 163 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 164 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020-2025 (USD MILLION)
                                 TABLE 165 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                                 TABLE 166 ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
             13.5.2 CHINA
                        13.5.2.1 Increasing investment to strengthen its military due to cross border conflicts, would lead to an increase in the demand of armored vehicles market
                                  FIGURE 37 CHINA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 167 CHINA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 168 CHINA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 169 CHINA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 170 CHINA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 171 CHINA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 172 CHINA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 173 CHINA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 174 CHINA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 175 CHINA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 176 CHINA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 177 CHINA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 178 CHINA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.5.3 INDIA
                        13.5.3.1 Increasing instances of terrorist strikes, border disputes, sensitive multi-cultural issues, and rampant crime would lead to more procurement of armored vehicles
                                 FIGURE 38 INDIA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 179 INDIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 180 INDIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 181 INDIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 182 INDIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 183 INDIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 184 INDIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 185 INDIA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 186 INDIA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 187 INDIA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 188 INDIA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 189 INDIA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 190 INDIA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.5.4 JAPAN
                        13.5.4.1 High-end indigenous military technologies drive the market of Armored vehicles in Japan
                                 FIGURE 39 JAPAN DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 191 JAPAN ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 192 JAPAN ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 193 JAPAN ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 194 JAPAN ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 195 JAPAN ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 196 JAPAN ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 197 JAPAN COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 198 JAPAN ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 199 JAPAN COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 200 JAPAN ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 201 JAPAN COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 202 JAPAN ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.5.5 AUSTRALIA
                        13.5.5.1 Increasing modernization of combat fleets drives the growth of the market in Australia
                                 FIGURE 40 AUSTRALIA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 203 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 204 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 205 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 206 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 207 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 208 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 209 AUSTRALIA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 210 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 211 AUSTRALIA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 212 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 213 AUSTRALIA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 214 AUSTRALIA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.5.6 SOUTH KOREA
                        13.5.6.1 Vehicle modernization programs, addition of advanced MBTs and IFVs, and conflict with North Korea are the prime reasons for the growth of armored vehicles market in South Korea.
                                 FIGURE 41 SOUTH KOREA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 215 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 216 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 217 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY MOBILITY2020–2025 (USD MILLION)
                                 TABLE 218 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 219 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 220 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 221 SOUTH KOREA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 222 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 223 SOUTH KOREA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 224 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 225 SOUTH KOREA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 226 SOUTH KOREA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.5.7 REST OF ASIA PACIFIC
                        13.5.7.1 The Combat Support Vehicles segment is projected to grow at a significant rate
                                 TABLE 227 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 228 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 229 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 230 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 231 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 232 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 233 REST OF ASIA PACIFIC COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 234 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 235 REST OF ASIA PACIFIC COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 236 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 237 REST OF ASIA PACIFIC COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 238 REST OF ASIA PACIFIC ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
     13.6 MIDDLE EAST
             13.6.1 PESTLE ANALYSIS: MIDDLE EAST
                        13.6.1.1 Political
                        13.6.1.2 Economic
                        13.6.1.3 Social
                        13.6.1.4 Technological
                        13.6.1.5 environmental
                        13.6.1.6 Legal
                                 FIGURE 42 MIDDLE EAST ARMORED VEHICLES MARKET SNAPSHOT
                                 TABLE 239 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 240 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 241 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 242 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 243 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 244 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020-2025 (USD MILLION)
                                 TABLE 245 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                                 TABLE 246 MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
             13.6.2 UAE
                        13.6.2.1 Combat vehicle segment is projected to grow at the significant growth rate
                                 TABLE 247 UAE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 248 UAE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 249 UAE ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 250 UAE ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 251 UAE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 252 UAE ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 253 UAE COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 254 UAE ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 255 UAE COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 256 UAE ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 257 UAE COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 258 UAE ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.6.3 SAUDI ARABIA
                        13.6.3.1 Procurement of main battle tanks, armored personnel vehicles, and Sherpa armored vehicles will strengthen its defense forces
                                 FIGURE 43 SAUDI ARABIA DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 259 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 260 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 261 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 262 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 263 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 264 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 265 SAUDI ARABIA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 266 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 267 SAUDI ARABIA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 268 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 269 SAUDI ARABIA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 270 SAUDI ARABIA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.6.4 ISRAEL
                        13.6.4.1 Israel has emerged as a lucrative market for armored vehicles in the Middle East
                                 FIGURE 44 ISRAEL DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 271 ISRAEL ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 272 ISRAEL ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 273 ISRAEL ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 274 ISRAEL ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 275 ISRAEL ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 276 ISRAEL ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 277 ISRAEL COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 278 ISRAEL ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 279 ISRAEL COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 280 ISRAEL ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 281 ISRAEL COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 282 ISRAEL ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.6.5 TURKEY
                        13.6.5.1 Increasing its defense and security budget to strengthen its military would lead to growth of Armored Vehicles Market
                                 FIGURE 45 TURKEY DEFENSE BUDGET 2010-2019 (USD BILLION)
                                 TABLE 283 TURKEY ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 284 TURKEY ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 285 TURKEY ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 286 TURKEY ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 287 TURKEY ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 288 TURKEY ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 289 TURKEY COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 290 TURKEY ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 291 TURKEY COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 292 TURKEY ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 293 TURKEY COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 294 TURKEY ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.6.6 REST OF MIDDLE EAST
                        13.6.6.1 Combat vehicles segment market is estimated to grow at the significant rate
                                 TABLE 295 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 296 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 297 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 298 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 299 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 300 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 301 REST OF MIDDLE EAST COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 302 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 303 REST OF MIDDLE EAST COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 304 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 305 REST OF MIDDLE EAST COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 306 REST OF MIDDLE EAST ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
     13.7 REST OF THE WORLD
          TABLE 307 REST OF THE WORLD ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
          TABLE 308 REST OF THE WORLD ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
          TABLE 309 REST OF THE WORLD ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
          TABLE 310 REST OF THE WORLD ARMORED VEHICLES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
             13.7.1 LATIN AMERICA
                        13.7.1.1 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
                                 TABLE 311 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 312 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 313 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 314 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 315 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 316 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 317 LATIN AMERICA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 318 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 319 LATIN AMERICA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 320 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 321 LATIN AMERICA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 322 LATIN AMERICA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)
             13.7.2 AFRICA
                        13.7.2.1 Modernization of armed forces would lead to the growth of Armored Vehicles Market in Africa
                                 TABLE 323 AFRICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2016–2019 (USD MILLION)
                                 TABLE 324 AFRICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2016–2019 (USD MILLION)
                                 TABLE 325 AFRICA ARMORED VEHICLES MARKET SIZE, BY MOBILITY, 2020–2025 (USD MILLION)
                                 TABLE 326 AFRICA ARMORED VEHICLES MARKET SIZE, BY PLATFORM, 2020–2025 (USD MILLION)
                                 TABLE 327 AFRICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2016–2019 (USD MILLION)
                                 TABLE 328 AFRICA ARMORED VEHICLES MARKET SIZE, BY SYSTEM, 2020–2025 (USD MILLION)
                                 TABLE 329 AFRICA COMBAT VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 330 AFRICA ARMORED VEHICLES MARKET SIZE, BY COMBAT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 331 AFRICA COMBAT VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2016–2019 (USD MILLION)
                                 TABLE 332 AFRICA ARMORED VEHICLES MARKET SIZE, BY COMBAT SUPPORT VEHICLES, 2020–2025 (USD MILLION)
                                 TABLE 333 AFRICA COMBAT VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2016–2019 (USD MILLION)
                                 TABLE 334 AFRICA ARMORED VEHICLES MARKET SIZE, BY ARMORED SUPPLY TRUCKS, 2020–2025 (USD MILLION)

14 COMPETITIVE LANDSCAPE (Page No. - 248)
     14.1 INTRODUCTION
          FIGURE 46 COMPANIES ADOPTED CONTRACTS AS THE KEY GROWTH STRATEGY FROM 2014 TO 2019
     14.2 MARKET SHARE ANALYSIS
          FIGURE 47 MARKET SHARE ANALYSIS OF TOP PLAYERS IN ARMORED VEHICLES MARKET IN 2019
     14.3 COMPETITIVE SITUATIONS AND TRENDS
             14.3.1 CONTRACTS
                    TABLE 335 CONTRACTS, 2016–2019
             14.3.2 NEW PRODUCT LAUNCHES
                    TABLE 336 NEW PRODUCT LAUNCHES, 2015–2019
             14.3.3 PARTNERSHIPS & JOINT VENTURES
                    TABLE 337 PARTNERSHIPS & JOINT VENTURES, 2015–2019
             14.3.4 ACQUISITION & EXPANSION
                    TABLE 338 ACQUISITION & EXPANSION, 2017–2019

15 COMPANY EVALUATION AND COMPANY PROFILES (Page No. - 255)
     15.1 COMPANY EVALUATION MATRIX
             15.1.1 STAR
             15.1.2 EMERGING LEADERS
             15.1.3 PERVASIVE
             15.1.4 EMERGING COMPANIES
                    FIGURE 48 ARMORED VEHICLES COMPANY EVALUATION MATRIX, 2019
(Business Overview, Products/Solutions/services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     15.2 OSHKOSH CORPORATION
          FIGURE 49 OSHKOSH CORPORATION: COMPANY SNAPSHOT
          FIGURE 50 OSHKOSH CORPORATION: SWOT ANALYSIS
     15.3 TEXTRON INC.
          FIGURE 51 TEXTRON INC.: COMPANY SNAPSHOT
          FIGURE 52 TEXTRON INC: SWOT ANALYSIS
     15.4 OTOKAR OTOMOTIVE VE SAVUNMA SANAYI
          FIGURE 53 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: COMPANY SNAPSHOT
          FIGURE 54 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: SWOT ANALYSIS
     15.5 DENEL SOC LTD.
          FIGURE 55 DENEL SOC LTD.: COMPANY SNAPSHOT
          FIGURE 56 DENEL SOC LTD.: SWOT ANALYSIS
     15.6 KRAUSS-MAFFEI WEGMANN
     15.7 HANWHA CORPORATION
          FIGURE 57 HANWHA CORPORATION: COMPANY SNAPSHOT
          FIGURE 58 HANWHA CORPORATION: SWOT ANALYSIS
     15.8 FNSS
     15.9 GENERAL DYNAMICS CORPORATION
          FIGURE 59 GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT
          FIGURE 60 GENERAL DYNAMICS CORPORATION: SWOT ANALYSIS
     15.1 BAE SYSTEMS PLC
          FIGURE 61 BAE SYSTEMS PLC: COMPANY SNAPSHOT
          FIGURE 62 BAE SYSTEMS PLC: SWOT ANALYSIS
     15.11 RHEINMETALL AG
           FIGURE 63 RHEINMETALL AG: COMPANY SNAPSHOT
           FIGURE 64 RHEINMETALL AG: SWOT ANALYSIS
     15.12 CHINA NORTH INDUSTRIES CORPORATION (NORINCO)
     15.13 ARQUUS
     15.14 NEXTER GROUP
     15.15 ORDNANCE FACTORY BOARD
     15.16 UKROBORONPROM
     15.17 URALVAGONZAVOD
           FIGURE 65 URALVAGONZAVOD: COMPANY SNAPSHOT
     15.18 KURGANMASHZAVOD JSC
     15.19 ST ENGINEERING
           FIGURE 66 ST ENGINEERING: COMPANY SNAPSHOT
           FIGURE 67 ST ENGINEERING: SWOT ANALYSIS
     15.2 IVECO
     15.21 MITSUBISHI HEAVY INDUSTRIES
           FIGURE 68 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT
     15.22 HYUNDAI ROTEM
           FIGURE 69 HYUNDAI ROTEM: COMPANY SNAPSHOT
     15.23 IMI SYSTEMS
     15.24 TATRA TRUCKS A.S.
     15.25 PARAMOUNT GROUP
     15.26 THE KALYANI GROUP

*Details on Business Overview, Products/Solutions/services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

16 ARMORED VEHICLES ADJACENT MARKET (Page No. - 316)
     16.1 INTRODUCTION
     16.2 TURRET SYSTEM MARKET
          FIGURE 70 TURRET SYSTEM MARKET SEGMENTATION, BY LAND, 2017 AND 2022
          TABLE 339 LAND SEGMENT, BY TYPE, 2015-2022 (USD MILLION)
             16.2.1 VEHICLE PLATFORM
             16.2.2 STATIONARY
     16.3 REMOTE WEAPON STATION MARKET
          FIGURE 71 REMOTE WEAPON STATION MARKET FOR LAND, 2018 AND 2023
          TABLE 340 REMOTE WEAPON STATION MARKET SIZE FOR LAND PLATFORM, BY TYPE, 2016–2023 (USD MILLION)
             16.3.1 MAIN BATTLE TANKS
             16.3.2 ARMORED FIGHTING VEHICLES
             16.3.3 OTHERS
     16.4 MILITARY TRUCK MARKET
          FIGURE 72 MILITARY TRUCK MARKET, BY TRUCK TYPE, 2019 VS 2027 (UNITS)
          TABLE 341 MILITARY TRUCK MARKET, BY TRUCK TYPE, 2017–2027 (UNITS)
             16.4.1 LIGHT TRUCK
             16.4.2 MEDIUM TRUCK
             16.4.3 HEAVY TRUCK

17 APPENDIX (Page No. - 321)
     17.1 DISCUSSION GUIDE
     17.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     17.3 AVAILABLE CUSTOMIZATION
     17.4 RELATED REPORTS
     17.5 AUTHOR DETAILS

This research study conducted on the armored vehicles market involved extensive use of secondary sources, directories, and databases to identify and collect information relevant to the armored vehicles market. The primary sources considered included industry experts from the concerned market as well as preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all 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.

Secondary Research

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

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the armored vehicles market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (active military officers) and supply-side (armored vehicle manufacturers) players across five major regions, namely, North America, Europe, Asia Pacific, the Middle East and Rest of the World (Latin America and Africa). Approximately 70% and 30% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Armored Vehicles Market Size, and Share

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 following figure offers a representation of the overall market size estimation process employed for the purpose of this study on the armored vehicles market.

The research methodology used to estimate the market size includes the following details:

  • Key players in this market were identified through secondary research, and their market share was determined through primary and secondary research. This included a study of the annual and financial reports of top market players and extensive interviews of leaders such as Chief Executive Officers (CEOs), directors, and marketing executives of leading companies operating in the armored vehicles market.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and 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.

Armored Vehicles Market Bottom-Up Approach

Data triangulation

After arriving at the overall size of the armored vehicles market from the market size estimation process explained above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for market segments and subsegments, the data triangulation and market breakdown procedures explained below were implemented, wherever applicable.

Report objectives

  • To define, describe, and forecast the size of the armored vehicles market based on platform, mobility, system, and region from 2020 to 2025
  • To forecast the size of various segments of the market with respect to major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW)
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the armored vehicles market across the globe
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the armored vehicles market
  • To analyze opportunities for stakeholders in the market by identifying key market trends
  • To analyze competitive developments such as contracts, acquisitions and expansions, agreements, joint ventures and partnerships, new product launches, and Research & Development (R&D) activities in the armored vehicles market
  • To provide a detailed competitive landscape of the armored vehicles market, in addition to an analysis of business and corporate strategies adopted by leading market players
  • To strategically profile key market players and comprehensively analyze their core competencies2

Available customizations

Along with the market data, MarketsandMarkets offers customizations in accordance with company-specific requirements. The following customization options are available for the report:

  • Country-level analysis
  • Market sizing and forecast for other countries of the Rest of the World

Additional company profiles (up to 5)

COVID-19

Get in-depth analysis of the COVID-19 impact on the Armored Vehicles Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Armored Vehicles Market

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