Armored Vehicles Market by Application (Defense, Commercial), Defense Products (MBT, LPV, AAV, MRAP, IFV, APC, Others), Commercial Products (SUV, Sedan, Limousine, Bus/Van, Others), Technology (Active, Passive), Type, & Region - Global Forecast to 2021

The global armored vehicles market is projected to grow from USD 23.75 Billion in 2016 to USD 31.26 Billion by 2021, at a CAGR of 5.6% during the period under consideration. This report covers the forecast of the market and its dynamics over the next five years, while also recognizing the market application gaps, recent developments in the market, and high potential countries. The armored vehicles market has been analyzed primarily on the basis of application (including defense - military and homeland security agencies and commercial- government, embassies, banks, VIPs) through the period of 2016 to 2021, considering 2015 as the base year.

The increasing demand from civilian applications, such as commercial, is expected to drive the growth of the armored vehicles market during the forecast period of 2016 to 2021. In recent years, the rising incidences of terrorism and armed violence have driven more civilians to procure armored vehicles for commercial purposes. Owing to the same factors, government and embassy officials, VIPs, and banks (in cash-in-transit), across the globe have invested more on procuring advanced vehicles systems, including major armored vehicles, such as SUV, sedan, bus/van and so on. These factors are expected to play major roles in the growth of the market in the coming years.

The market size estimations for various segments and subsegments of this market were arrived at through extensive secondary research, corroboration with primaries, and further market triangulation with the help of statistical techniques using econometric tools. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets, and presented in this report.

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

The ecosystem of the armored vehicles market comprises manufacturers, distributors, and end users. The key end-users of the market are military, homeland security, governments, embassies, VIPs, banks, and people procuring armored vehicles for self-defense. Some of the key players of the armored vehicles market include General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K.), Lockheed Martin (U.S.), and Textron Inc. (U.S.), among others. These players are adopting strategies such as new product launches, long-term contracts, and acquisitions to strengthen their positions in the global market. They are also focusing on investing considerable amount of their revenues on R&D to introduce armored vehicles with higher precision and reduced weight.

“Study answers several questions for stakeholders, primarily, which segments to focus on over the next five years for prioritizing efforts and investments.”

Target Audience

• Original Equipment Manufacturers (OEMs)
• Regulatory Bodies
• Component Suppliers
• Homeland Security Agencies
• Governments, Embassies, VIPs, Banks
• Distributors

Scope of the Report

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

Global Armored Vehicles Market, By Application

• Defense –Military, Homeland Security
• Commercial- Government, Embassy, Banks, VIPs, Others

Global Armored Vehicles Market, By Product

• Defense - Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine-resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, Others
• Commercial – SUV, Sedan, Limousine, Bus/Van, Others

Defense Armored Vehicles Market, By Type

• Wheeled
• Tracked
• Others

Global Armored Vehicles Market, By Technology

• Active
• Passive

Global Armored Vehicles Market, By Region

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

Customizations Available for the report

With the given market data, MarketsandMarkets offers customizations as per specific needs of a company. The following customization options are available for the report:

• Country-level Analysis
  • Comprehensive market projections for countries categorized under Rest of Europe, Rest of Asia-Pacific, Rest of Middle East, and Rest of the World
• Company Information
  • Detailed analysis and profiling of additional market players (Upto 5)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Distribution Channel Participants
    1.6 Limitations
    1.7 Market Stakeholders

2 Research Methodology (Page No. - 21)
    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 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Indicators
                    2.2.2.1 Income Inequalities and Polarization of Civilians
                    2.2.2.2 Modernization of Law Enforcement Agencies
           2.2.3 Supply-Side Indicators
                    2.2.3.1 Increasing Research & Development
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Market Opportunities
    4.2 Armored Vehicles Market, By Application
    4.3 Defense Armored Vehicles Market, By Product
    4.4 Commercial Armored Vehicles Market, By Product
    4.5 Defense Armored Vehicles Market, By Type
    4.6 Armored Vehicles Market, By Technology
    4.7 Armored Vehicles Market Share Analysis, By Region
    4.8 North America: Armored Vehicles Market, By Application and Technology
    4.9 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Armored Vehicles Market, By Application
           5.2.2 Defense Armored Vehicles Market, By Product
           5.2.3 Commercial Armored Vehicles Market, By Product
           5.2.4 Defense Armored Vehicles Market, By Type
           5.2.5 Armored Vehicles Market, By Technology
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Commercial Applications
                    5.3.1.2 Militarization of Law Enforcement Agencies
                    5.3.1.3 Rise in Asymmetric Warfare
           5.3.2 Restraints
                    5.3.2.1 Declining Defense Budgets of Advanced Economies
                    5.3.2.2 Increasing Use of Unmanned Systems
           5.3.3 Opportunities
                    5.3.3.1 Increase in Research & Development Activities
                    5.3.3.2 Increasing Defense Expenditures of Emerging Economies
           5.3.4 Challenges
                    5.3.4.1 Increasing Costs
                    5.3.4.2 Survivability Issues

6 Industry Trends (Page No. - 55)
    6.1 Introduction
    6.2 Supply Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Mapping Armored Vehicles, By Region
           6.4.1 North America: Armored Vehicles (Current vs Future Outlook)
           6.4.2 Europe: Armored Vehicles (Current vs Future Outlook)
           6.4.3 Asia-Pacific: Armored Vehicles (Current vs Future Outlook)
           6.4.4 Middle East: Armored Vehicles (Current vs Future Outlook)
    6.5 Technology Trends
           6.5.1 Laser Cutting Technology
           6.5.2 Ballistic Armor Systems
           6.5.3 Active Protection Systems
           6.5.4 Interoperable Communication Systems
    6.6 Innovation & Patent Registrations
    6.7 Key Trend Analysis

7 Armored Vehicles Market, By Application (Page No. - 69)
    7.1 Introduction
    7.2 Defense
    7.3 Commercial

8 Defense Armored Vehicles Market, By Product (Page No. - 73)
    8.1 Introduction
    8.2 Main Battle Tank (MBT)
    8.3 Light Protected Vehicles (LPV)
    8.4 Amphibious Armored Vehicles (AAV)
    8.5 Mine-Resistant Ambush Protected (MRAP)
    8.6 Infantry Fighting Vehicles (IFV)
    8.7 Armored Personnel Carriers (APC)
    8.8 Others

9 Commercial Armored Vehicles Market, By Product (Page No. - 80)
    9.1 Introduction
    9.2 SUV
    9.3 Sedan
    9.4 Limousine
    9.5 Bus/Van
    9.6 Others

10 Defense Armored Vehicles Market, By Type (Page No. - 86)
     10.1 Introduction
     10.2 Wheeled Armored Vehicles
     10.3 Tracked Armored Vehicles
     10.4 Others

11 Armored Vehicles Market, By Technology (Page No. - 91)
     11.1 Introduction
     11.2 Active
     11.3 Passive

12 Region Analysis (Page No. - 95)
     12.1 Introduction
     12.2 North America
             12.2.1 By Application
             12.2.2 By Defense Product
             12.2.3 By Commercial Product
             12.2.4 By Type
             12.2.5 By Technology
             12.2.6 By Country
                        12.2.6.1 U.S.
                                     12.2.6.1.1 By Application
                        12.2.6.2 Canada
                                     12.2.6.2.1 By Application
     12.3 Europe
             12.3.1 By Application
             12.3.2 By Defense Product
             12.3.3 By Commercial Product
             12.3.4 By Type
             12.3.5 By Technology
             12.3.6 By Country
                        12.3.6.1 U.K.
                                     12.3.6.1.1 By Application
                        12.3.6.2 Germany
                                     12.3.6.2.1 By Application
                        12.3.6.3 Russia
                                     12.3.6.3.1 By Application
     12.4 Asia-Pacific
             12.4.1 By Application
             12.4.2 By Defense Product
             12.4.3 By Commercial Product
             12.4.4 By Type
             12.4.5 By Technology
             12.4.6 By Country
                        12.4.6.1 China
                                     12.4.6.1.1 By Application
                        12.4.6.2 India
                                     12.4.6.2.1 By Application
                        12.4.6.3 Australia
                                     12.4.6.3.1 By Application
     12.5 Middle East
             12.5.1 By Application
             12.5.2 By Defense Product
             12.5.3 By Commercial Product
             12.5.4 By Type
             12.5.5 By Technology
             12.5.6 By Country
                        12.5.6.1 Saudi Arabia
                                     12.5.6.1.1 By Application
                        12.5.6.2 Israel
                                     12.5.6.2.1 By Application
                        12.5.6.3 U.A.E
                                     12.5.6.3.1 By Application
     12.6 Rest of the World
             12.6.1 By Application
             12.6.2 By Defense Product
             12.6.3 By Commercial Product
             12.6.4 By Type
             12.6.5 By Technology
             12.6.6 By Country
                        12.6.6.1 Latin America
                                     12.6.6.1.1 By Application
                        12.6.6.2 Africa
                                     12.6.6.2.1 By Application

13 Competitive Landscape (Page No. - 141)
     13.1 Introduction
     13.2 Brand Analysis
     13.3 Top Manufacturers: Defense Armored Vehicles Market
     13.4 Competitive Situations and Trends
             13.4.1 Contracts
             13.4.2 New Product Launches
             13.4.3 Joint Ventures
             13.4.4 Partnerships

14 Company Profiles (Page No. - 149)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     14.1 Introduction
     14.2 Financial Highlights
     14.3 General Dynamics Corporation
     14.4 Lockheed Martin Corporation
     14.5 BAE Systems, PLC
     14.6 Elbit Systems
     14.7 Oshkosh Defense
     14.8 Textron Inc.
     14.9 Volkswagen AG
     14.10 BMW AG
     14.11 Ford Motor Company
     14.12 Mercedes-Benz (Division of Daimler AG)

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 176)
     15.1 Discussion Guide
     15.2 Introducing RT: Real Time Market Intelligence
     15.3 Available Customization
             15.3.1 Country-Level Analysis
             15.3.2 Additional Company Profiles (Upto 5)
     15.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.5 Related Reports

List of Tables (84 Tables)

Table 1 Mapping Military Grade Equipment Used By U.S. Law Enforcement Agencies Until 2015
Table 2 Market Drivers: Regional Analysis
Table 3 Geographic Analysis of Armored Vehicles Market
Table 4 Armored Vehicles Market is Primarily Driven By Increasing Commercial Applications
Table 5 Mapping Military Expenditure of Advanced Economies, 2011-2015 (USD Billion)
Table 6 Increasing Use of Unmanned Systems Acts as A Major Restraint for the Armored Vehicles Market Growth
Table 7 Mapping Military Expenditures of Emerging Economies, 2011-2015
Table 8 Increasing Research & Development is Expected to Offer Significant Growth Opportunities in the Armored Vehicles Market
Table 9 Increasing Costs of Armored Vehicles is Posing Critical Challenges to the Armored Vehicles Industry
Table 10 Current and Future Outlook of Armored Vehicles in North America
Table 11 Current and Future Outlook of Armored Vehicles in Europe
Table 12 Current and Future Outlook of Armored Vehicles in Asia-Pacific
Table 13 Current and Future Outlook of Armored Vehicles in the Middle East
Table 14 Important Innovation & Patent Registrations, 2010-2015
Table 15 Global Armored Vehicles Market Size, By Application, 2015-2021 (USD Million)
Table 16 Global Armored Vehicles Market in Defense Application, By Region, 2015-2021 (USD Million)
Table 17 Global Armored Vehicles Market in Commercial Application, By Region, 2015-2021 (USD Million)
Table 18 Defense Armored Vehicles Market Size, By Product, 2015-2021 (USD Million)
Table 19 Main Battle Tank Market, By Region, 2015-2021 (USD Million)
Table 20 Light Protected Vehicles Market, By Region, 2015-2021 (USD Million)
Table 21 Amphibious Armored Vehicles Market, By Region, 2015-2021 (USD Million)
Table 22 Mine-Resistant Ambush Protected (MRAP) Market, By Region, 2015-2021 (USD Million)
Table 23 Infantry Fighting Vehicles Market, By Region, 2015-2021 (USD Million)
Table 24 Armored Personnel Carriers Market, By Region, 2015-2021 (USD Million)
Table 25 Other Armored Vehicle Products Market, By Region, 2015-2021 (USD Million)
Table 26 Commercial Armored Vehicles Market Size, By Product, 2015-2021 (USD Million)
Table 27 Armored SUV Market, By Region, 2015-2021 (USD Million)
Table 28 Armored Sedan Market, By Region, 2015-2021 (USD Million)
Table 29 Armored Limousine Market, By Region, 2015-2021 (USD Million)
Table 30 Armored Bus/Van Market, By Region, 2015-2021 (USD Million)
Table 31 Other Commercial Products Market, By Region, 2015-2021 (USD Million)
Table 32 Defense Armored Vehicles Market Size, By Type, 2015-2021 (USD Million)
Table 33 Wheeled Armored Vehicles Market in Defense, By Region, 2015-2021 (USD Million)
Table 34 Tracked Armored Vehicles Market in Defense, By Region, 2015-2021 (USD Million)
Table 35 Other Armored Vehicles Market in Defense, By Region, 2015-2021 (USD Million)
Table 36 Global Armored Vehicles Market Size, By Technology, 2015-2021 (USD Million)
Table 37 Active-Based Armored Vehicles Market, By Region, 2015-2021 (USD Million)
Table 38 Passive-Based Armored Vehicles Market, By Region, 2015-2021 (USD Million)
Table 39 North America: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 40 North America: Defense Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 41 North America: Commercial Armored Vehicles Market , By Product, 2015-2021 (USD Million)
Table 42 North America: Defense Armored Vehicles Market , By Type, 2015-2021 (USD Million
Table 43 North America: Armored Vehicles Market, By Technology, 2015-2021 (USD Million
Table 44 U.S.: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 45 Canada: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 46 Europe: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 47 Europe: Defense Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 48 Europe: Commercial Armored Vehicles Market, By Product Type, 2016-2021 (USD Million)
Table 49 Europe: Defense Armored Vehicles Market, By Type, 2015-2021 (USD Million
Table 50 Europe: Armored Vehicles Market, By Technology, 2015-2021 (USD Million
Table 51 U.K.: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 52 Germany: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 53 Russia: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 54 Asia-Pacific: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 55 Asia-Pacific: Defense Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 56 Asia-Pacific: Commercial Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 57 Asia-Pacific: Defense Armored Vehicles Market, By Type, 2015-2021 (USD Million
Table 58 Asia-Pacific: Armored Vehicles Market, By Technology, 2015-2021 (USD Million
Table 59 China: Armored Vehicles Market, By Application , 2015-2021 (USD Million)
Table 60 India: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 61 Australia: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 62 Middle East: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 63 Middle East: Defense Armored Vehicles Market By Product, 2015-2021 (USD Million)
Table 64 Middle East: Commercial Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 65 Middle East: Defense Armored Vehicles Market, By Type, 2015-2021 (USD Million
Table 66 Middle East: Armored Vehicles Market, By Technology, 2015-2021 (USD Million
Table 67 Saudi Arabia: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 68 Israel : Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 69 UAE: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 70 RoW: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 71 RoW: Defense Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 72 RoW: Commercial Armored Vehicles Market, By Product, 2015-2021 (USD Million)
Table 73 RoW: Defense Armored Vehicles Market, By Type, 2015-2021 (USD Million
Table 74 RoW: Armored Vehicles Market, By Technology, 2015-2021 (USD Million
Table 75 Latin America: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 76 Africa: Armored Vehicles Market, By Application, 2015-2021 (USD Million)
Table 77 Top Manufactures of Main Battle Tanks
Table 78 Top Manufactures of Mine-Resistant Ambush Protected Armored Vehicles
Table 79 Top Manufactures of Light Protected Vehicles
Table 80 Top Manufactures of Amphibious Armored Vehicles
Table 81 Contracts, 2015–2016
Table 82 New Product Launches, 2013–2016
Table 83 Joint Ventures, 2010–2015
Table 84 Partnerships, 2016

List of Figures (102 Figures)

Figure 1 Markets Covered : Armored Vehicles Market
Figure 2 Global Armored Vehicles Market: Study Years
Figure 3 Research Flow
Figure 4 Research Design
Figure 5 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Data Triangulation
Figure 9 Assumptions of the Research Study
Figure 10 Asia-Pacific Expected to Be the Game-Changer for Armored Vehicles Market
Figure 11 Armored Vehicles Market, By Application, 2016 vs 2021 (USD Million)
Figure 12 Contracts and New Product Launches are the Top Growth Strategies Being Adopted By Armored Vehicles Market Players
Figure 13 Attractive Market Opportunities in the Armored Vehicles Market, 2016-2021
Figure 14 Commercial Segment Estimated to Dominate the Armored Vehicles Market in 2016
Figure 15 Amphibious Armored Vehicles Segment Expected to Witness the Highest Growth Between 2016 and 2021
Figure 16 SUV Segment Expected to Witness the Highest Growth in the Commercial Armored Vehicles Market Between 2016 and 2021
Figure 17 Tracked Segment Expected to Dominate the Defense Armored Vehicles Market in 2016
Figure 18 Active Technology Segment Expected to Witness Higher Growth During the Forecast Period
Figure 19 Asia-Pacific Market Expected to Grow the Highest During the Forecast Period
Figure 20 Commercial Application Segment Expected to Dominate the North American Armored Vehicles Market During the Forecast Period
Figure 21 Asia-Pacific Armored Vehicles Market Expected to Witness Highest Growth During the Forecast Period
Figure 22 Market Segmentation: By Application
Figure 23 Defense Market Segmentation: By Product
Figure 24 Commercial Market Segmentation: By Product
Figure 25 Military Market Segmentation: By Type
Figure 26 Increasing Commercial Applications Expected to Drive the Armored Vehicles Market in the Coming Years
Figure 27 Number of Terrorist Incidents (Global), 2010-2014
Figure 28 Recent Developments in the Amphibious Armored Vehicles Industry
Figure 29 Supply Chain Analysis: Armored Vehicles Market
Figure 30 Porter’s Five Forces Analysis
Figure 31 Armored Vehicles Market: Threat of New Entrants
Figure 32 Armored Vehicles Market: Threat of Substitutes
Figure 33 Armored Vehicles Market: Bargaining Power of Suppliers
Figure 34 Armored Vehicles Market: Bargaining Power of Buyers
Figure 35 Armored Vehicles Market: Intensity of Competitive Rivalry
Figure 36 Commercial Application Segment Expected to Witness the Highest Growth During the Forecast Period
Figure 37 Amphibious Armored Vehicles Subsegment Projected to Grow at the Highest CAGR During the Forecast Period
Figure 38 Armored SUV Subsegment Projected to Grow at the Highest CAGR During the Forecast Period
Figure 39 Tracked Subsegment Estimated to Dominate the Defense Armored Vehicles Market in 2016
Figure 40 Active Segment Estimated to Grow at A Higher CAGR During the Forecast Period
Figure 41 Regional Snapshot: Growth Rate Analysis, 2016-2021
Figure 42 North America Snapshot: U.S. to Dominate Global Armored Vehicles Market Between 2016 and 2021
Figure 43 North America: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 44 North America: Defense Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 45 North America: Commercial Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 46 North America: Defense Armored Vehicles Market, By Type, 2016-2021 (USD Million)
Figure 47 North America: Armored Vehicles Market, By Technology, 2016-2021 (USD Million)
Figure 48 U.S.: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 49 Canada: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 50 Europe Snapshot: Russia to Dominate the Armored Vehicles Market Between 2016 and 2021
Figure 51 Europe: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 52 Europe: Defense Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 53 Europe: Commercial Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 54 Europe: Defense Armored Vehicles Market, By Type, 2016-2021 (USD Million)
Figure 55 Europe: Armored Vehicles Market, By Technology, 2016-2021 (USD Million)
Figure 56 U.K.: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 57 Germany: Armored Vehicles Market, By Application, 2016 2021 (USD Million)
Figure 58 Russia: Armored Vehicles Market, By Application, 2016 - 2021 (USD Million)
Figure 59 Asia-Pacific Snapshot: China to Dominate Armored Vehicles Market Between 2016 and 2021
Figure 60 Asia-Pacific: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 61 Asia-Pacific: Defense Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 62 Asia-Pacific: Commercial Armored Vehicles Market , By Product, 2016-2021 (USD Million)
Figure 63 Asia-Pacific: Defense Armored Vehicles Market, By Type, 2016-2021 (USD Million)
Figure 64 Asia-Pacific: Armored Vehicles Market, By Technology, 2016-2021 (USD Million)
Figure 65 China: Armored Vehicles Market, By Application , 2016-2021 (USD Million)
Figure 66 India: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 67 Australia: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 68 Middle East: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 69 Middle East: Defense Armored Vehicles Market, By Product , 2016-2021 (USD Million)
Figure 70 Middle East: Commercial Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 71 Middle East: Defense Armored Vehicles Market, By Type, 2016-2021 (USD Million)
Figure 72 Middle East: Armored Vehicles Market, By Technology, 2016-2021 (USD Million)
Figure 73 Saudi Arabia: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 74 Israel: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 75 UAE: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 76 RoW: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 77 RoW: Defense Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 78 RoW: Commercial Armored Vehicles Market, By Product, 2016-2021 (USD Million)
Figure 79 RoW: Defense Armored Vehicles Market, By Type, 2016-2021 (USD Million)
Figure 80 RoW: Armored Vehicles Market, By Technology, 2016-2021 (USD Million)
Figure 81 Latin America: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 82 Africa: Armored Vehicles Market, By Application, 2016-2021 (USD Million)
Figure 83 Companies Adopted Contracts as the Key Growth Strategy From 2013 to 2016
Figure 84 Brand Analysis of Top Armored Vehicles Market Players
Figure 85 Armored Vehicles Market Evolution Framework, From 2013 to 2015
Figure 86 Long-Term Contracts Was the Key Growth Strategy , 2010-2016
Figure 87 Geographical Revenue Mix of Top Players
Figure 88 Financial Highlights of Major Players in the Armored Vehicles Market
Figure 89 General Dynamics Corporation: Company Snapshot
Figure 90 General Dynamics Corporation: SWOT Analysis
Figure 91 Lockheed Martin Corporation: Company Snapshot
Figure 92 Lockheed Martin Corporation: SWOT Analysis
Figure 93 BAE Systems, PLC: Company Snapshot
Figure 94 BAE Systems, PLC.: SWOT Analysis
Figure 95 Elbit Systems: Company Snapshot
Figure 96 Elbit Systems: SWOT Analysis
Figure 97 Oshkosh Defense: Company Snapshot
Figure 98 Oshkosh Defense: SWOT Analysis
Figure 99 Textron Inc.: Company Snapshot
Figure 100 BMW Group: Company Snapshot
Figure 101 Ford Motor Company: Company Snapshot
Figure 102 Mercedes-Benz (Division of Daimler AG): Company Snapshot

The global armored vehicles market is projected to grow from USD 23.75 Billion in 2016 to USD 31.26 Billion by 2021, at a CAGR of 5.6% during the forecast period. Factors such as rising crime in the form of gang violence, kidnapping, and terror activities wars and cross–border disputes, and increasing civilian use of armored vehicles are expected to drive the growth of the global armored vehicles market during the forecast period of 2016 to 2021.

On the basis of application, the given market has been segmented into defense and commercial. The commercial segment is projected to grow at the highest CAGR during the forecast period of 2016 to 2021. The rising demand for armored vehicles can be attributed to several factors, including self-defense or protection, rising political disputes, polarization of civilians leading to civil unrest, and so on.

The armored vehicles procurement in the defense and commercial segments have increased considerably over the past few years, mainly driven by the high number of wars against terrorist outfits, globally, especially in the Middle East and Asia-Pacific regions. Some of the major types of armored vehicles being procured are wheeled and tracked, among others. The overall market is dominated by the wheeled segment as of 2016, and this segment is expected to witness the highest growth in the coming years. This can be attributed to the rising demand for light or medium-sized armored vehicles for combat or patrolling operations, primarily driven by the enhanced mobility and maneuverability offered by the wheeled type.

The armored vehicles market is dominated by the commercial SUV segment, which is most commonly used by those who want to reach their destination in a safe manner. High ranking politicians, entrepreneurs, all categories of VIPs, ambassadors intend to use armored vehicles or SUVs for official use. This segment is also expected to witness the highest growth in the coming years, owing to several benefits provided by this segment, including durability, precision, efficiency, providing good gas mileage and so on.

The Asia-Pacific region is expected to exhibit the highest growth in the armored vehicles market during the forecast period. This rapid growth can be attributed to the increasing military expenditures of major economies of the region, including China and India, high number of wars and cross-border disputes in the region, rising demand by governments, embassies, VIPs and increasing investments by governments for modernization of military as well as law enforcement forces.

The growth of the armored vehicles market could, however, be affected by certain major restraints in the coming years. These factors include declining defense budgets of developed economies of the world, such as the U.S., Canada, the U.K., Germany, and so on.

The key players operating in the global armored vehicles market have been identified as General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K.), Lockheed Martin (U.S.), and Elbit Systems (Israel), among others. Contracts and new product launches are the major growth strategies adopted by the top market players to strengthen their positions in the global armored vehicles market, while also enhancing their product offerings.

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