Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), Type (Electric, Conventional), Mobility (Wheeled, Tracked), Systems, Mode of Operation, Point of sale, Region - Forecast to 2027
[259 Pages Report] The armored vehicles market is projected to grow from USD 29.3 billion in 2022 to USD 34.1 billion by 2027, at a CAGR of 3.1% from 2022 to 2027. The market is driven by factors such as military modernization plan across the globe, development of modular and scalable armored vehicles, etc.
Armored Vehicles Market Forecast to 2027
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Armored vehicles Market Dynamics
Driver: Improving ISR and target acquisition capabilities of defense forces
The increasing demand for improved monitoring of naval and land borders is of utmost importance for defense forces, especially due to the rising incidents of terror attacks across the globe particularly around the borders. In some cases, military forces find it difficult to effectively tackle the situation as the reaction time from the detection of threats to their interception is very high and instantaneous. In these cases, the robots can act as best alternative to humans as robots are capable of carrying out improved cross-border surveillance and intelligence gathering with a faster reaction time and more accuracy. Robots can effectively and efficiently monitor country borders and continuously relay real-time data to ground stations.
The demand for autonomous robots is increasing across the globe as they are used for various purpose such as carrying out target acquisition and surveillance operations by defense forces of different countries. Major companies like Northrup Grumman Corporation (US), the Boeing Company (US), IAI (Israel), and Textron Inc. (US), are developing military robots with intelligence, surveillance, reconnaissance (ISR) and target acquisition capabilities.
Restraint: Occurrence of mechanical and electrical failure in armored vehicles
Armored vehicles are prone to mechanical strain caused by their movement on uneven terrains and logistical strain caused by cross-country operations. Continuous high-speed traversing by these vehicles often results in mechanical failure of their engines and transmission systems. Moreover, they also suffer from power failures, breakdown of components, and jamming of parts, among others. These failures are sometimes hard to be rectified by rescue & recovery teams, thereby leading to critical situations during wars. Moreover, the detection of faulty components or parts resulting in malfunctioning of armored vehicles is sometimes hard. Thus, manufacturers of armored vehicles are continuously making efforts to rectify these failures by developing new and innovative designs using composites and installing advanced systems in these vehicles.
Opportunity: Increased adoption of unmanned combat ground vehicles by defense forces
The demand for unmanned armored ground vehiles 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 growing military expenditure of countries such as the UK, Italy, Spain, Germany, and France have led to the increased procurement of these systems to replace their defense personnel, that make use of large volumes of equipment and logistic support.
Military forces of different countries are focusing on the use of unmanned armored ground vehicles on battlefields to reduce casualties, as these vehicles are capable of performing critical and hazardous tasks that are currently being carried out by warfighters in combat zones. Unmanned armored ground vehicles can also be interfaced with various third-party payloads such as interrogation arms, Remote Weapon Stations (RWS), and Reconnaissance, Surveillance, and Target Acquisition (RSTA) systems to support combat, Chemical, Biological, Radiological, and Nuclear (CBRN) defense, RSTA, and route clearance missions. Thus, all these advantages of unmanned armored ground vehicles over manned combat vehicles have led to their increased adoption by defense forces of different countries.
Challenges: Hardware and software malfunctions
Autonomous vehicles and systems are prone to hardware and software malfunctions. Even though they are built and designed to with stand tough situations, they continue to face various challenges such as extreme temperatures, component breakdowns, software jams, etc. Unmanned armored ground vehicles are controlled by human operators either through tethered modes or operated remotely. In certain cases, human operators might lose the control of these robots, or sometimes robots miscalculate the commands, which results in ultimate mission failures. Engineers have faced challenges in creating fully autonomous vehicles and systems as this technology is still in the development phase.
Combat vehicles segment projected to lead the armored vehicles market by platform, during the forecast period
Based on platform, the armored vehicles market has been segmented into combat vehicles, combat support vehicles, and unmanned armored ground vehicles. The combat vehicles segment is projected to grow from USD 17.7 billion in 2022 to USD 20.2 billion by 2027, at a CAGR of 2.7% during the forecast period.
Wheeled segment to command the Armored vehicles Market by mobility, during the forecast period
Based on mobility, the market has been segmented into wheeled and tracked. The wheeled segment is projected to grow at a higher CAGR as compared to the tracked segment during the forecast period. The wheeled segment is projected to grow from USD 19.4 billion in 2022 to USD 22.8 billion by 2027, at a CAGR of 3.3% during the forecast period.
Armament segment to dominate the Armored vehicles Market by system, during the forecast period
Based on system, the 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 armament segment is projected to grow from USD 8.4 billion in 2022 to USD 9.3 billion by 2027, at a CAGR of 2.1% during the forecast period.
The North America market is projected to contribute the largest share from 2022 to 2027
Armored Vehicles Market by Region
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Technology Trends
Programmable Ammunition
Programmable ammunition has a twin-ammo-feed design or a multiple-ammo-feed design that enables change in the type of ammunition used. They reduce the complexity involved in using various types of ammunition. Programmable ammunition provides flexibility to weapon platforms for firing and interchanging different types of ammunition. For instance, with programmable ammunition, an artillery gun has the ability to fire shells that can be programmed to explode with pinpoint accuracy, either before, above, or inside a target.
Hitting targets such as UAVs and small drones becomes highly accurate with the use of programmable ammunition. It can be deployed on land and naval warfare platforms for use against light targets.
Key Players
Major companies profiled in the report are Oshkosh Corp. (US), L3harris Technologies (US), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), and Hanwha Defense (South Korea), among others. (30 Companies). The report covers various industry trends and new technological innovations in the Armored vehicles Market for the period, 2018-2027.
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Report Metric |
Details |
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Market size available for years |
2018–2027 |
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Base year considered |
2021 |
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Forecast period |
2022-2027 |
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Forecast units |
Value (USD Billion) |
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Segments covered |
By Platform, By Type, By System, By Mobility, By Mode of Operation, By Point of sale |
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Geographies covered |
North America, Europe, Asia Pacific, Rest of the World. |
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Companies covered |
L3harris Technologies (US), Hanwha Defense (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Oshkosh Corp. (US), BAE Systems (UK), among others. (30 Companies) |
Armored Vehicles Market Highlights
The study categorizes the Armored vehicles Market based on platform, type, system, mobility, mode of operation, point of sale and region.
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Segment |
Sub-Segment |
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By Platform |
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By System |
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By Type |
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By Mode of Operation |
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By Mobility |
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By Point of Sale |
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By Region |
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Recent Developments
- In April 2022, The British Ministry of Defence awarded Rheinmetall a contract for its Robotic Platoon Vehicles (RPV) program. The British Army ordered four Rheinmetall Mission Master SP – Surveillance Autonomous Armored vehicles (A-UGV) in an intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) configuration and three Rheinmetall Mission Master SP – Cargo vehicles for a total of seven new A-UGVs. The UK had procured a total of eight Mission Master vehicles in previous phases of the program. The Rheinmetall Mission Master SP is part of the Autonomous Unmanned Ground Vehicle (A-UGV) family developed by Rheinmetall Canada.
- In March 2020, BAE Systems received a contract from the US Army for the production of 48 vehicle sets of the M109A7 self-propelled howitzer (SPH) and its companion, the M992A3 carrier, ammunition, tracked vehicle; and includes post-delivery support and spare parts.
Frequently Asked Questions (FAQ):
What are your views on the growth prospect of the Armored vehicles Market?
Response: The Armored vehicles Market is expected to grow substantially owing to the technological development in designing of the various armored vehicles and related components for several military applications.
What are the key sustainability strategies adopted by leading players operating in the Armored vehicles Market?
Response: Key players have adopted various organic and inorganic strategies to strengthen their position in the Armored vehicles Market. Major players, including Oshkosh Corp. (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Hanwha Defense (South Korea), and Rheinmetall AG (US) have adopted various strategies, such as contracts and agreements, to expand their presence in the market further.
What are the new emerging technologies and use cases disrupting the Armored vehicles Market?
Response: Some of the major emerging technologies and use cases disrupting the market include development of compact Armored vehicles, unmanned armored ground vehicles, etc.
Who are the key players and innovators in the ecosystem of the Armored vehicles Market?
Response: Major players, including Oshkosh Corp. (US), L3harris Technologies (US), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), and Hanwha Defense (South Korea).
Which region is expected to hold the highest market share in the Armored vehicles Market?
Response: Armored vehicles Market in the North America region is estimated to account for the largest share of 53.4% of the market in 2021, while Asia Pacific region is expected to grow at the highest CAGR of 4.0% during the forecast period.
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 40)
1.1 STUDY OBJECTIVES
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
1.4 INCLUSIONS AND EXCLUSIONS
TABLE 1 INCLUSIONS AND EXCLUSIONS IN ARMORED VEHICLES MARKET
1.5 CURRENCY & PRICING
1.6 STUDY LIMITATIONS
1.7 MARKET STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 46)
2.1 RESEARCH DATA
FIGURE 2 REPORT PROCESS FLOW
FIGURE 3 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key primary sources
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.1.3 DEMAND-SIDE INDICATORS
2.1.4 SUPPLY-SIDE INDICATORS
2.2 MARKET SIZE ESTIMATION
TABLE 2 SEGMENTS AND SUBSEGMENTS
2.3 RESEARCH APPROACH & METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
TABLE 3 ARMORED VEHICLES MARKET ESTIMATION PROCEDURE
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4.1 TRIANGULATION THROUGH PRIMARY AND SECONDARY RESEARCH
2.5 GROWTH RATE ASSUMPTIONS
2.6 STUDY ASSUMPTIONS
2.7 RISKS
3 EXECUTIVE SUMMARY (Page No. - 55)
FIGURE 8 COMBAT VEHICLES PROJECTED TO DOMINATE MARKET FROM 2022 TO 2027
FIGURE 9 WHEELED ARMORED VEHICLES SEGMENT TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
FIGURE 10 ARMAMENTS SEGMENT PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2022 TO 2027
FIGURE 11 MANNED ARMORED VEHICLES TO COMMAND LARGEST SHARE FROM 2022 TO 2027
FIGURE 12 ASIA PACIFIC ARMORED VEHICLES MARKET PROJECTED TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
4 PREMIUM INSIGHTS (Page No. - 59)
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ARMORED VEHICLES MARKET
FIGURE 13 SURGE IN ADOPTION OF UNMANNED SYSTEMS TO DRIVE MARKET GROWTH
4.2 ARMORED VEHICLES MARKET, BY PLATFORM
FIGURE 14 COMBAT VEHICLES TO LEAD MARKET FROM 2018 TO 2027
4.3 ARMORED VEHICLE MARKET, BY MOBILITY
FIGURE 15 WHEELED SEGMENT TO BE DOMINANT FROM 2018 TO 2027
4.4 ARMORED VEHICLES MARKET, BY SYSTEM
FIGURE 16 ARMAMENTS SEGMENT TO HOLD MAJOR SHARE FROM 2018 TO 2027
4.5 ARMORED VEHICLE MARKET, BY MODE OF OPERATION
FIGURE 17 MANNED SEGMENT TO LEAD MARKET FROM 2018 TO 2027
4.6 ARMORED VEHICLES MARKET, BY TYPE
FIGURE 18 CONVENTIONAL ARMORED VEHICLES TO DOMINATE MARKET FROM 2018 TO 2027
4.7 ARMORED VEHICLE MARKET, BY COUNTRY
FIGURE 19 INDIA PROJECTED TO BE FASTEST-GROWING COUNTRY FROM 2022 TO 2027
5 MARKET OVERVIEW (Page No. - 63)
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 Improving ISR and target acquisition capabilities of defense forces
5.2.1.2 Increasing demand for armored vehicles to tackle cross-border conflicts
5.2.1.3 Rising incidence of asymmetric warfare across the globe
5.2.2 RESTRAINTS
5.2.2.1 Absence of major armored vehicle OEMs in Middle East and Asia Pacific
5.2.2.2 Occurrence of mechanical and electrical 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
5.2.3.3 Development of modular and scalable armored vehicles
5.2.4 CHALLENGES
5.2.4.1 Hardware and software malfunctions
5.2.4.2 High costs of main battle tanks
5.2.4.3 Survivability issues
5.3 AVERAGE SELLING PRICE TREND
TABLE 4 AVERAGE SELLING PRICE OF MAIN BATTLE TANKS (USD MILLION)
TABLE 5 AVERAGE SELLING PRICE OF INFANTRY FIGHTING VEHICLES (USD MILLION)
TABLE 6 AVERAGE SELLING PRICE OF ARMORED PERSONNEL CARRIERS (USD MILLION)
TABLE 7 AVERAGE SELLING PRICE OF MINE-RESISTANT AMBUSH-PROTECTED VEHICLES (USD MILLION)
TABLE 8 AVERAGE SELLING PRICE OF LIGHT PROTECTED VEHICLES (USD MILLION)
TABLE 9 AVERAGE SELLING PRICE OF SELF-PROPELLED HOWITZERS (USD MILLION)
TABLE 10 MAIN BATTLE TANKS VOLUME ANALYSIS, BY COUNTRY, 2016–2019
TABLE 11 INFANTRY FIGHTING VEHICLES VOLUME ANALYSIS, BY COUNTRY, 2016–2019
TABLE 12 SELF-PROPELLED HOWITZERS VOLUME ANALYSIS, BY COUNTRY, 2016–2019
5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 21 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
5.5 MARKET ECOSYSTEM
FIGURE 22 ARMORED VEHICLES: MARKET ECOSYSTEM
5.5.1 PROMINENT COMPANIES
5.5.2 PRIVATE AND SMALL ENTERPRISES
5.5.3 END USERS
TABLE 13 ARMORED VEHICLES: MARKET ECOSYSTEM
5.6 PRICING ANALYSIS
5.6.1 AVERAGE SELLING PRICE ANALYSIS, BY ARMORED VEHICLE TYPE
FIGURE 23 AVERAGE SELLING PRICE OF ARMORED VEHICLES, BY TYPE
5.7 VALUE CHAIN ANALYSIS OF ARMORED VEHICLES MARKET
FIGURE 24 VALUE CHAIN ANALYSIS
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGY
5.8.2 DESIGN & IMPLEMENTATION OF SOLAR-POWERED ARMORED VEHICLES
5.8.2.1 Development of multi-payload unmanned armored vehicles
5.8.3 COMPLEMENTARY TECHNOLOGY
5.8.4 ELECTRO-OPTICAL AND RADAR SENSOR PAYLOADS FOR UNMANNED ARMORED VEHICLES
5.9 PORTER'S FIVE FORCES MODEL
5.9.1 ARMORED VEHICLES MARKET: PORTER'S FIVE FORCES ANALYSIS
FIGURE 25 ARMORED VEHICLES MARKET: PORTER'S FIVE FORCES ANALYSIS
5.9.2 THREAT OF NEW ENTRANTS
5.9.3 THREAT OF SUBSTITUTES
5.9.4 BARGAINING POWER OF SUPPLIERS
5.9.5 BARGAINING POWER OF BUYERS
5.9.6 INTENSITY OF COMPETITIVE RIVALRY
5.1 KEY STAKEHOLDERS & BUYING CRITERIA
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING ARMORED VEHICLES, BY MODE OF OPERATION
TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING ARMORED VEHICLES, BY MODE OF OPERATION (%)
5.10.2 BUYING CRITERIA
FIGURE 27 KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM
TABLE 15 KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM
5.11 USE CASES
5.11.1 VIKING MULTIROLE UNMANNED ARMORED VEHICLE BY HORIBA MIRA FOR UK MINISTRY OF DEFENCE
5.11.2 VICTORY: VEHICLE INTEGRATION FOR C4ISR/ELECTRONIC WARFARE INTEROPERABILITY
5.11.3 ELECTRIC ARMOR
5.11.4 SEE-THROUGH ARMOR (STA)
5.11.5 ADAPTIV–CAMOUFLAGE SYSTEMS
5.11.6 HYBRID DIESEL-ELECTRIC SYSTEMS
5.12 KEY CONFERENCES & EVENTS, 2022–23
TABLE 16 ARMORED VEHICLES MARKET: CONFERENCES & EVENTS, 2022–2023
5.13 TRADE DATA ANALYSIS
5.13.1 IMPORT DATA FOR ARMORED VEHICLES, BY REGION, 2015–2020
TABLE 17 REGION-WISE IMPORT DATA, 2015–2020
5.14 REGULATORY LANDSCAPE
TABLE 18 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER AGENCIES
TABLE 19 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER AGENCIES
TABLE 20 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER AGENCIES
TABLE 21 MIDDLE EAST: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER AGENCIES
TABLE 22 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER AGENCIES
6 INDUSTRY TRENDS (Page No. - 88)
6.1 INTRODUCTION
6.2 TECHNOLOGY TRENDS
6.2.1 ACTIVE PROTECTION SYSTEMS
6.2.2 SOFT-KILL TECHNOLOGY
6.2.2.1 Electro-optical jammers
6.2.3 HARD-KILL TECHNOLOGY
6.2.4 MICRO-ELECTRO-MECHANICAL SYSTEMS (MEMS) AND NANOTECHNOLOGY
6.2.5 REACTIVE ARMOR TECHNOLOGY
6.2.6 INTEROPERABLE COMMUNICATION SYSTEMS
6.2.7 PROGRAMMABLE AMMUNITION
6.2.8 LINKLESS FEED SYSTEMS
6.2.9 IMPROVED AMMUNITION CARRYING CAPABILITY
6.2.10 AMMUNITION FEED CHUTES
6.2.11 SENSOR FUSION TECHNOLOGY
6.2.12 ADVANCED AUTOLOADERS
6.3 INNOVATIONS & PATENT REGISTRATIONS
TABLE 23 ARMORED VEHICLES: KEY PATENTS, 2017–2022
7 ARMORED VEHICLES MARKET, BY PLATFORM (Page No. - 92)
7.1 INTRODUCTION
FIGURE 28 COMBAT SUPPORT VEHICLES SEGMENT TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
TABLE 24 ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 25 ARMORED VEHICLES MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
7.2 COMBAT VEHICLES
7.2.1 MAIN BATTLE TANKS (MBTS)
7.2.1.1 Increasing demand for offensive cross-country operations
FIGURE 29 MAIN BATTLE TANKS: PRODUCTION DATA, BY COUNTRY AND MODEL, 2021 (UNITS)
7.2.2 INFANTRY FIGHTING VEHICLES (IFVS)
7.2.2.1 Procurement by emerging economies to drive demand
7.2.3 ARMORED PERSONNEL CARRIERS (APCS)
7.2.3.1 Increasing demand to combat terrorist attacks and asymmetric warfare operations
7.2.4 ARMORED AMPHIBIOUS VEHICLES (AAV)
7.2.4.1 Use by military forces for amphibious operations estimated to increase demand
7.2.5 MINE-RESISTANT AMBUSH PROTECTED (MRAP)
7.2.5.1 Laser fit and robotic arm – key technologies for troop protection from IEDs and mines
7.2.6 LIGHT ARMORED VEHICLES (LAV)
7.2.6.1 Increasing use of LAVs to transport defense personnel
7.2.7 SELF-PROPELLED HOWITZERS (SPHS)
7.2.7.1 Increasing demand for 155 mm 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
FIGURE 30 AIR DEFENSE VEHICLES/ROCKET LAUNCHERS PRODUCTION DATA, BY COUNTRY, 2021 (UNITS)
7.2.9 ARMORED MORTAR CARRIERS
7.2.9.1 Philippines, India, Turkey, US – key procuring countries in last two years
7.3 COMBAT SUPPORT VEHICLES
7.3.1 ARMORED SUPPLY TRUCKS
7.3.1.1 Armored fuel trucks
7.3.1.1.1 Increasing use for supply of gas, diesel, or jet fuel to forward arming and refueling points
7.3.1.2 Armored ammunition replenishment vehicles
7.3.1.2.1 Demand to replenish ammunition to vehicles and forward bases during warfare operations
7.3.1.3 Armored ambulances
7.3.1.3.1 Used to transport injured defense personnel and casualties to medical facilities
7.3.2 ARMORED COMMAND & CONTROL VEHICLES
7.3.2.1 Increasing adoption of C2 vehicles for mobile armored operations
7.3.3 REPAIR & RECOVERY VEHICLES
7.3.3.1 Increasing demand for towing or repairing combat vehicles on battlefield
7.3.4 BRIDGE-LAYING TANKS
7.3.5 MINE-CLEARANCE VEHICLES (MCV)
7.4 UNMANNED ARMORED GROUND VEHICLES
7.4.1 INCREASING R&D TO DEVELOP UNMANNED ARMORED GROUND VEHICLES FOR WARFARE ROLES
8 ARMORED VEHICLES MARKET, BY TYPE (Page No. - 101)
8.1 INTRODUCTION
FIGURE 31 CONVENTIONAL SEGMENT TO LEAD ARMORED VEHICLES MARKET FROM 2022 TO 2027
TABLE 26 ARMORED VEHICLES MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 27 ARMORED VEHICLES MARKET, BY TYPE, 2022–2027 (USD BILLION)
8.2 ELECTRIC ARMORED VEHICLES
8.2.1 ADOPTION IN NON-COMBAT ROLES EXPECTED TO DRIVE MARKET
8.3 CONVENTIONAL ARMORED VEHICLES
8.3.1 NEED FOR CONVENTIONAL ARMORED VEHICLES FOR LONG-DISTANCE TRAVEL
9 ARMORED VEHICLES MARKET, BY SYSTEM (Page No. - 104)
9.1 INTRODUCTION
FIGURE 32 ARMAMENTS TO COMMAND MAJOR SHARE IN ARMORED VEHICLES MARKET FROM 2022 TO 2027
TABLE 28 ARMORED VEHICLES MARKET, BY SYSTEM, 2018–2021 (USD BILLION)
TABLE 29 ARMORED VEHICLES MARKET, BY SYSTEM, 2022–2027 (USD BILLION)
9.2 ENGINES
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 to boost demand
9.3 DRIVE SYSTEMS
9.3.1 POWER TRANSMISSION DRIVES
9.3.1.1 Increasing adoption of robust gearboxes, gears, final drives, transfer cases, and yokes for armored vehicles
9.3.2 SUSPENSION & BRAKING SYSTEMS
9.3.2.1 Increasing demand for rugged suspension systems on armored vehicles
9.3.3 TRACKS AND WHEELS
9.3.3.1 Demand for tracks, wheels, trackpads, and track adjuster assembly
9.4 BALLISTIC ARMOR
9.4.1 COMPOSITE ARMOR
9.4.1.1 Need for 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 advanced 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-scale adoption of lightweight armor protection
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 USE TO TACKLE INCOMING ATTACKS
9.10 COMMAND & CONTROL (C2) SYSTEMS
9.10.1 HIGH DEMAND FOR SMOOTH AND EFFECTIVE DEFENSE MISSIONS
9.11 POWER SYSTEMS
9.11.1 NEED FOR AUXILIARY POWER UNITS FOR UNINTERRUPTED POWER SUPPLY
9.12 NAVIGATION SYSTEMS
9.12.1 ADOPTED TO DETERMINE ORIENTATION AND POSITIONING OF VEHICLES
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 ADVANCED V-HULL DESIGN FOR INCREASED SURVIVABILITY OF ONBOARD CREW
10 ARMORED VEHICLES MARKET, BY MOBILITY (Page No. - 112)
10.1 INTRODUCTION
FIGURE 33 WHEELED SEGMENT PROJECTED TO LEAD ARMORED VEHICLES MARKET FROM 2022 TO 2027
TABLE 30 ARMORED VEHICLES MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 31 ARMORED VEHICLE MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
10.2 WHEELED
10.2.1 4X4
10.2.1.1 Increasing use for border patrol and ISR
10.2.2 6X6
10.2.2.1 Adoption of IFVs and APCs in emerging economies
10.2.3 8X8
10.2.3.1 Demand for modular multi-wheel vehicles
10.2.4 10X10
10.2.4.1 Demand for palletized load system for multi-wheel military vehicles
10.2.5 12X12
10.2.5.1 Special multi-purpose, off-road military vehicles
10.3 TRACKED
10.3.1 HIGH DEMAND FOR USE IN ROUGH AND UNEVEN TERRAIN
11 ARMORED VEHICLES MARKET, BY MODE OF OPERATION (Page No. - 116)
11.1 INTRODUCTION
FIGURE 34 MANNED SEGMENT TO DOMINATE ARMORED VEHICLES MARKET FROM 2022 TO 2027
TABLE 32 ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 33 ARMORED VEHICLE MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
11.2 MANNED ARMORED VEHICLES
11.2.1 HIGH INVESTMENTS ACROSS COUNTRIES TO DRIVE MARKET
11.3 UNMANNED ARMORED VEHICLES
11.3.1 DEVELOPMENT OF ADVANCED UGVS FOR COMBAT SUPPORT TO FUEL MARKET
TABLE 34 TYPES OF UNMANNED ARMORED VEHICLES
12 ARMORED VEHICLES MARKET, BY POINT OF SALE (Page No. - 120)
12.1 INTRODUCTION
12.2 OEM
12.2.1 DEVELOPMENT OF NEXT-GENERATION, ADVANCED ARMORED VEHICLES TO DRIVE SEGMENT
12.3 RETROFIT
12.3.1 UPGRADE OF EXISTING MILITARY GROUND VEHICLE FLEETS TO FUEL GROWTH
13 REGIONAL ANALYSIS (Page No. - 121)
13.1 INTRODUCTION
FIGURE 35 MARKET IN ASIA PACIFIC ARMORED VEHICLES PROJECTED TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
TABLE 35 ARMORED VEHICLES MARKET, BY REGION, 2018–2021 (USD BILLION)
TABLE 36 ARMORED VEHICLES MARKET, BY REGION, 2022–2027 (USD BILLION)
13.2 NORTH AMERICA
13.2.1 PESTLE ANALYSIS: NORTH AMERICA
FIGURE 36 NORTH AMERICA: ARMORED VEHICLES MARKET SNAPSHOT
TABLE 37 NORTH AMERICA: MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 38 NORTH AMERICA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 39 NORTH AMERICA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 40 NORTH AMERICA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 41 NORTH AMERICA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 42 NORTH AMERICA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 43 NORTH AMERICA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 44 NORTH AMERICA: MARKET, BY TYPE, 2022–2027 (USD BILLION)
TABLE 45 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD BILLION)
TABLE 46 NORTH AMERICA: ARMORED VEHICLES MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
13.2.2 US
13.2.2.1 US – one of the most lucrative markets for armored vehicles
TABLE 47 US: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 48 US: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 49 US: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 50 US: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 51 US: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 52 US: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 53 US: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 54 US: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.2.3 CANADA
13.2.3.1 Market growth driven by military modernization programs
TABLE 55 CANADA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 56 CANADA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 57 CANADA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 58 CANADA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 59 CANADA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 60 CANADA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 61 CANADA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 62 CANADA: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3 EUROPE
13.3.1 PESTLE ANALYSIS: EUROPE
FIGURE 37 EUROPE: ARMORED VEHICLES MARKET SNAPSHOT
TABLE 63 EUROPE: MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 64 EUROPE: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 65 EUROPE: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 66 EUROPE: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 67 EUROPE: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 68 EUROPE: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 69 EUROPE: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 70 EUROPE: MARKET, BY TYPE, 2022–2027 (USD BILLION)
TABLE 71 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD BILLION)
TABLE 72 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
13.3.2 UK
13.3.2.1 Mid-life upgrade of warrior infantry fighting vehicles to drive market growth
TABLE 73 UK: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 74 UK: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 75 UK: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 76 UK: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 77 UK: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 78 UK: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 79 UK: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 80 UK: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3.3 GERMANY
13.3.3.1 Expected to emerge as largest West European spender in market
TABLE 81 GERMANY: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 82 GERMANY: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 83 GERMANY: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 84 GERMANY: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 85 GERMANY: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 86 GERMANY: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 87 GERMANY: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 88 GERMANY: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3.4 FRANCE
13.3.4.1 Procurement of new generation of wheeled combat vehicles for defense forces
TABLE 89 FRANCE: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 90 FRANCE: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 91 FRANCE: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 92 FRANCE: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 93 FRANCE: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 94 FRANCE: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 95 FRANCE: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 96 FRANCE: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3.5 POLAND
13.3.5.1 Procurement of light tanks with multi-layer ceramic-aramid armor to boost market
TABLE 97 POLAND: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 98 POLAND: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 99 POLAND: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 100 POLAND: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 101 POLAND: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 102 POLAND: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 103 POLAND: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 104 POLAND: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3.6 ITALY
13.3.6.1 Country's growing focus on military power to drive market
TABLE 105 ITALY: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 106 ITALY: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 107 ITALY: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 108 ITALY: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 109 ITALY: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 110 ITALY: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 111 ITALY: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 112 ITALY: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.3.7 REST OF EUROPE
13.3.7.1 Advancements in military forces to boost demand
TABLE 113 REST OF EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 114 REST OF EUROPE: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 115 REST OF EUROPE: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 116 REST OF EUROPE: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 117 REST OF EUROPE: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 118 REST OF EUROPE: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 119 REST OF EUROPE: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 120 REST OF EUROPE: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4 ASIA PACIFIC
13.4.1 PESTLE ANALYSIS: ASIA PACIFIC
FIGURE 38 ASIA PACIFIC: ARMORED VEHICLES MARKET SNAPSHOT
TABLE 121 ASIA PACIFIC: MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 122 ASIA PACIFIC: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 123 ASIA PACIFIC: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 124 ASIA PACIFIC: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 125 ASIA PACIFIC: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 126 ASIA PACIFIC: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 127 ASIA PACIFIC: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 128 ASIA PACIFIC: MARKET, BY TYPE, 2022–2027 (USD BILLION)
TABLE 129 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD BILLION)
TABLE 130 ASIA PACIFIC: ARMORED VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
13.4.2 CHINA
13.4.2.1 Strengthening of military due to cross-border conflicts to lead to market growth
TABLE 131 CHINA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 132 CHINA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 133 CHINA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 134 CHINA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 135 CHINA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 136 CHINA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 137 CHINA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 138 CHINA: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.3 INDIA
13.4.3.1 Increased procurement to tackle terrorist strikes, border disputes, and sensitive multi-cultural issues
TABLE 139 INDIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 140 INDIA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 141 INDIA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 142 INDIA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 143 INDIA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 144 INDIA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 145 INDIA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 146 INDIA: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.4 JAPAN
13.4.4.1 High-end indigenous military technologies to drive market
TABLE 147 JAPAN: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 148 JAPAN: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 149 JAPAN: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 150 JAPAN: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 151 JAPAN: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 152 JAPAN: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 153 JAPAN: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 154 JAPAN: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.5 AUSTRALIA
13.4.5.1 Increasing manufacturing and modernization of combat fleets to contribute to market growth
TABLE 155 AUSTRALIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 156 AUSTRALIA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 157 AUSTRALIA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 158 AUSTRALIA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 159 AUSTRALIA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 160 AUSTRALIA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 161 AUSTRALIA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 162 AUSTRALIA: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.6 SOUTH KOREA
13.4.6.1 High investments in robotics technologies to raise demand for unmanned ground vehicles
TABLE 163 SOUTH KOREA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 164 SOUTH KOREA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 165 SOUTH KOREA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 166 SOUTH KOREA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 167 SOUTH KOREA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 168 SOUTH KOREA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 169 SOUTH KOREA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 170 SOUTH KOREA: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.7 SINGAPORE
13.4.7.1 Deployment of technologically advanced armored vehicles on battlefields to boost market
TABLE 171 SINGAPORE: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 172 SINGAPORE: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 173 SINGAPORE: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 174 SINGAPORE: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 175 SINGAPORE: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 176 SINGAPORE: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 177 SINGAPORE: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 178 SINGAPORE: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.4.8 REST OF ASIA PACIFIC
13.4.8.1 Growing demand for unmanned armored vehicles for security purposes
TABLE 179 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 180 REST OF ASIA PACIFIC: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 181 REST OF ASIA PACIFIC: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 182 REST OF ASIA PACIFIC: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 183 REST OF ASIA PACIFIC: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 184 REST OF ASIA PACIFIC: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 185 REST OF ASIA PACIFIC: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 186 REST OF ASIA PACIFIC: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.5 REST OF THE WORLD
TABLE 187 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 188 REST OF THE WORLD: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 189 REST OF THE WORLD: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 190 REST OF THE WORLD: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 191 REST OF THE WORLD: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 192 REST OF THE WORLD: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 193 REST OF THE WORLD: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 194 REST OF THE WORLD: MARKET, BY TYPE, 2022–2027 (USD BILLION)
TABLE 195 REST OF THE WORLD: MARKET, BY REGION, 2018–2021 (USD BILLION)
TABLE 196 REST OF THE WORLD: ARMORED VEHICLE MARKET, BY REGION, 2022–2027 (USD BILLION)
13.5.1 MIDDLE EAST
13.5.1.1 Social unrest and market instability to drive demand for armored vehicles
TABLE 197 MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 198 MIDDLE EAST: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 199 MIDDLE EAST: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 200 MIDDLE EAST: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 201 MIDDLE EAST: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 202 MIDDLE EAST: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 203 MIDDLE EAST: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 204 MIDDLE EAST: MARKET, BY TYPE, 2022–2027 (USD BILLION)
13.5.2 LATIN AMERICA & AFRICA
13.5.2.1 Increased demand for unmanned military ground vehicles to boost market
TABLE 205 LATIN AMERICA & AFRICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2018–2021 (USD BILLION)
TABLE 206 LATIN AMERICA & AFRICA: MARKET, BY PLATFORM, 2022–2027 (USD BILLION)
TABLE 207 LATIN AMERICA & AFRICA: MARKET, BY MOBILITY, 2018–2021 (USD BILLION)
TABLE 208 LATIN AMERICA & AFRICA: MARKET, BY MOBILITY, 2022–2027 (USD BILLION)
TABLE 209 LATIN AMERICA & AFRICA: MARKET, BY MODE OF OPERATION, 2018–2021 (USD BILLION)
TABLE 210 LATIN AMERICA & AFRICA: MARKET, BY MODE OF OPERATION, 2022–2027 (USD BILLION)
TABLE 211 LATIN AMERICA & AFRICA: MARKET, BY TYPE, 2018–2021 (USD BILLION)
TABLE 212 LATIN AMERICA & AFRICA: ARMORED VEHICLE MARKET, BY TYPE, 2022–2027 (USD BILLION)
14 COMPETITIVE LANDSCAPE (Page No. - 174)
14.1 INTRODUCTION
14.2 MARKET SHARE ANALYSIS, 2021
TABLE 213 DEGREE OF COMPETITION
FIGURE 39 SHARE OF TOP PLAYERS IN ARMORED VEHICLES MARKET, 2021
14.3 REVENUE ANALYSIS, 2021
FIGURE 40 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS, 2021
14.4 MARKET RANKING ANALYSIS, 2021
FIGURE 41 ARMORED VEHICLES MARKET: RANKING ANALYSIS OF TOP FIVE PLAYERS, 2021
14.5 COMPANY PRODUCT FOOTPRINT ANALYSIS
TABLE 214 COMPANY PRODUCT FOOTPRINT
TABLE 215 COMPANY PLATFORM FOOTPRINT
TABLE 216 COMPANY REGION FOOTPRINT
14.6 COMPANY EVALUATION QUADRANT
14.6.1 STARS
14.6.2 EMERGING LEADERS
14.6.3 PERVASIVE PLAYERS
14.6.4 PARTICIPANTS
FIGURE 42 COMPETITIVE LEADERSHIP MAPPING, 2021
14.7 START-UP EVALUATION QUADRANT
14.7.1 PROGRESSIVE COMPANIES
14.7.2 RESPONSIVE COMPANIES
14.7.3 STARTING BLOCKS
14.7.4 DYNAMIC COMPANIES
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING OF START-UPS, 2021
14.8 COMPETITIVE BENCHMARKING
TABLE 217 ARMORED VEHICLES MARKET: KEY START-UPS/SMES
TABLE 218 ARMORED VEHICLES MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
14.9 COMPETITIVE SITUATIONS AND TRENDS
14.9.1 DEALS
TABLE 219 DEALS, 2019–2022
14.9.2 PRODUCT LAUNCHES
TABLE 220 PRODUCT LAUNCHES, 2019–2022
15 COMPANY PROFILES (Page No. - 193)
15.1 INTRODUCTION
15.2 KEY PLAYERS
15.2.1 NORTHROP GRUMMAN CORPORATION
TABLE 221 NORTHROP GRUMMAN CORPORATION: BUSINESS OVERVIEW
FIGURE 44 NORTHROP GRUMMAN CORPORATION: COMPANY SNAPSHOT
TABLE 222 NORTHROP GRUMMAN CORPORATION: PRODUCTS OFFERED
TABLE 223 NORTHROP GRUMMAN CORPORATION: DEALS
15.2.2 LOCKHEED MARTIN CORPORATION
TABLE 224 LOCKHEED MARTIN CORPORATION: BUSINESS OVERVIEW
FIGURE 45 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT
TABLE 225 LOCKHEED MARTIN CORPORATION: PRODUCTS OFFERED
TABLE 226 LOCKHEED MARTIN CORPORATION: DEALS
15.2.3 BAE SYSTEMS
TABLE 227 BAE SYSTEMS: BUSINESS OVERVIEW
FIGURE 46 BAE SYSTEMS: COMPANY SNAPSHOT
TABLE 228 BAE SYSTEMS: PRODUCTS OFFERED
TABLE 229 BAE SYSTEMS: DEALS
15.2.4 RHEINMETALL AG
TABLE 230 RHEINMETALL AG: BUSINESS OVERVIEW
FIGURE 47 RHEINMETALL AG: COMPANY SNAPSHOT
TABLE 231 RHEINMETALL AG: PRODUCTS OFFERED
TABLE 232 RHEINMETALL AG: DEALS
TABLE 233 RHEINMETALL AG: NEW PRODUCT LAUNCHES
15.2.5 GENERAL DYNAMICS CORPORATION
TABLE 234 GENERAL DYNAMICS CORPORATION: BUSINESS OVERVIEW
FIGURE 48 GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT
TABLE 235 GENERAL DYNAMICS CORPORATION: PRODUCTS OFFERED
TABLE 236 GENERAL DYNAMICS CORPORATION: DEALS
15.2.6 THALES GROUP
TABLE 237 THALES GROUP: BUSINESS OVERVIEW
FIGURE 49 THALES GROUP: COMPANY SNAPSHOT
TABLE 238 THALES GROUP: PRODUCTS OFFERED
15.2.7 L3HARRIS TECHNOLOGIES
TABLE 239 L3HARRIS TECHNOLOGIES: BUSINESS OVERVIEW
FIGURE 50 L3HARRIS TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 240 L3HARRIS TECHNOLOGIES: PRODUCTS OFFERED
TABLE 241 L3HARRIS TECHNOLOGIES: DEALS
15.2.8 ST ENGINEERING
TABLE 242 ST ENGINEERING: BUSINESS OVERVIEW
FIGURE 51 ST ENGINEERING: COMPANY SNAPSHOT
TABLE 243 ST ENGINEERING: PRODUCTS OFFERED
TABLE 244 ST ENGINEERING: NEW PRODUCT LAUNCHES
15.2.9 ELBIT SYSTEMS
TABLE 245 ELBIT SYSTEMS: BUSINESS OVERVIEW
FIGURE 52 ELBIT SYSTEMS: COMPANY SNAPSHOT
TABLE 246 ELBIT SYSTEMS: PRODUCTS OFFERED
TABLE 247 ELBIT SYSTEMS: NEW PRODUCT LAUNCHES
15.2.10 MITSUBISHI HEAVY INDUSTRIES
TABLE 248 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW
FIGURE 53 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT
TABLE 249 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS OFFERED
TABLE 250 MITSUBISHI HEAVY INDUSTRIES: NEW PRODUCT LAUNCHES
15.2.11 OSHKOSH CORP.
TABLE 251 OSHKOSH CORP.: BUSINESS OVERVIEW
FIGURE 54 OSHKOSH CORP.: COMPANY SNAPSHOT
TABLE 252 OSHKOSH CORP.: PRODUCTS OFFERED
15.2.12 HYUNDAI MOTOR COMPANY
TABLE 253 HYUNDAI MOTOR COMPANY: BUSINESS OVERVIEW
FIGURE 55 HYUNDAI MOTOR COMPANY: COMPANY SNAPSHOT
TABLE 254 HYUNDAI MOTOR COMPANY: PRODUCTS OFFERED
TABLE 255 HYUNDAI MOTOR COMPANY: NEW PRODUCT LAUNCHES
15.2.13 TEXTRON INC.
TABLE 256 TEXTRON INC.: BUSINESS OVERVIEW
FIGURE 56 TEXTRON INC.: COMPANY SNAPSHOT
TABLE 257 TEXTRON INC.: PRODUCTS OFFERED
TABLE 258 TEXTRON INC.: DEALS
TABLE 259 TEXTRON INC.: NEW PRODUCT LAUNCHES
15.2.14 HANWHA CORPORATION
TABLE 260 HANWHA CORPORATION: BUSINESS OVERVIEW
FIGURE 57 HANWHA CORPORATION: COMPANY SNAPSHOT
TABLE 261 HANWHA CORPORATION: PRODUCTS OFFERED
TABLE 262 HANWHA CORPORATION: DEALS
15.2.15 OTOKAR OTOMOTIV VE SAVUNMA SANAYI
TABLE 263 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: BUSINESS OVERVIEW
FIGURE 58 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: COMPANY SNAPSHOT
TABLE 264 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: PRODUCTS OFFERED
TABLE 265 OTOKAR OTOMOTIV VE SAVUNMA SANAYI: DEALS
15.2.16 DENEL SOC LTD.
TABLE 266 DENEL SOC LTD.: BUSINESS OVERVIEW
TABLE 267 DENEL SOC LTD.: PRODUCTS OFFERED
15.2.17 NEXTER GROUP
TABLE 268 NEXTER GROUP: BUSINESS OVERVIEW
TABLE 269 NEXTER GROUP: PRODUCTS OFFERED
TABLE 270 NEXTER GROUP: NEW PRODUCT LAUNCHES
15.2.18 FNSS
TABLE 271 FNSS: BUSINESS OVERVIEW
TABLE 272 FNSS: PRODUCTS OFFERED
15.2.19 CHINA NORTH INDUSTRIES CORPORATION (NORINCO)
TABLE 273 CHINA NORTH INDUSTRIES CORPORATION (NORINCO): BUSINESS OVERVIEW
TABLE 274 CHINA NORTH INDUSTRIES CORPORATION (NORINCO): PRODUCTS OFFERED
15.2.20 ARQUUS
TABLE 275 ARQUUS: BUSINESS OVERVIEW
TABLE 276 ARQUUS: PRODUCTS OFFERED
15.2.21 UKROBORONPROM
TABLE 277 UKROBORONPROM: BUSINESS OVERVIEW
TABLE 278 UKROBORONPROM: PRODUCTS OFFERED
15.2.22 URALVAGONZAVOD
TABLE 279 URALVAGONZAVOD: BUSINESS OVERVIEW
TABLE 280 URALVAGONZAVOD: PRODUCTS OFFERED
15.2.23 IVECO
TABLE 281 IVECO: BUSINESS OVERVIEW
TABLE 282 IVECO: PRODUCTS OFFERED
15.2.24 IMI SYSTEMS
TABLE 283 IMI SYSTEMS: BUSINESS OVERVIEW
TABLE 284 IMI SYSTEMS: PRODUCTS OFFERED
15.2.25 TATRA TRUCKS AS.
TABLE 285 TATRA TRUCKS AS: BUSINESS OVERVIEW
TABLE 286 TATRA TRUCKS AS: PRODUCTS OFFERED
TABLE 287 TATRA TRUCKS AS: DEALS
15.2.26 PARAMOUNT GROUP
TABLE 288 PARAMOUNT GROUP: BUSINESS OVERVIEW
TABLE 289 PARAMOUNT GROUP: PRODUCTS OFFERED
TABLE 290 PARAMOUNT GROUP: DEALS
15.2.27 THE KALYANI GROUP
TABLE 291 KALYANI GROUP: BUSINESS OVERVIEW
TABLE 292 KALYANI GROUP: PRODUCTS OFFERED
15.2.28 KRAUSS-MAFFEI WEGMANN
TABLE 293 KRAUSS-MAFFEI WEGMANN: BUSINESS OVERVIEW
TABLE 294 KRAUSS-MAFFEI WEGMANN: PRODUCTS OFFERED
TABLE 295 KRAUSS-MAFFEI WEGMANN: DEALS
15.3 OTHER PLAYERS
15.3.1 AM GENERAL
TABLE 296 AM GENERAL: BUSINESS OVERVIEW
15.3.2 MAHINDRA DEFENCE SYSTEM LTD
TABLE 297 MAHINDRA DEFENCE SYSTEM LTD: BUSINESS OVERVIEW
16 APPENDIX (Page No. - 253)
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 CUSTOMIZATION OPTIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
The study involved four major activities in estimating the current size of the armored vehicles market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The market share of companies offering armored vehicle systems was arrived at based on the secondary data available through paid and unpaid sources and by analyzing the product portfolios of major companies and rating them based on their performance and quality. In the secondary research process, sources such as government databases; SIPRI, corporate filings, such as annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; articles by recognized authors; and directories and databases were used to identify and collect information for this study.
Secondary research was mainly used to obtain key information about the industry's value and supply chain. Secondary research was also used to identify the key players by various products, market classifications, and segmentation according to their offerings. Secondary information helped in understanding different industry trends related to armored vehicle platforms, systems, types, modes of operation, mobility, and regions, as well as key developments from both, market and technology-oriented perspectives.
Primary Research
In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. Primary sources from the supply side included industry experts such as vice presidents (VPs); directors from business development, marketing, and product development/innovation teams; related key executives from systems manufacturers; army personnel; armored vehicle manufacturers; integrators; and key opinion leaders.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the size of the armored vehicles market. The research methodology used to estimate the size of the market includes the following details.
Key players in the armored vehicles 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 the top market players and extensive interviews with leaders such as directors, engineers, marketing executives, and other stakeholders 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 on the armored vehicles market. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report .
Armored vehicles Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the estimated market numbers for armored vehicle segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using the top-down and bottom-up approaches.
Report Objectives
- To define, describe, segment, and forecast the size of the armored vehicles market based on platform, type, system, mobility, mode of operation, point of sale, and region for the forecast period from 2022 to 2027
- To forecast the size of various segments of the armored vehicles market with respect to 6 major regions namely, North America, Europe, Asia Pacific, Rest of the World which consists of the Middle East and Latin America & Africa
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the armored vehicles market
- To identify the opportunities for stakeholders in the market by identifying key market and technology trends
- To analyze competitive developments such as contracts, agreements, acquisitions & partnerships, new product launches & developments, and Research & Development (R&D) activities in the armored vehicles market.
- To anticipate the status of the armored vehicles market procurements by different countries, technological advancements, and joint developments undertaken by leading players to analyze the degree of competition in the market
- To provide a comprehensive competitive landscape of the armored vehicles market, along with an overview of the different strategies adopted by the key market players to strengthen their position in the market
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Market sizing and forecast for additional countries
- By platform, by type breakdown at country level
- Additional five companies profiling
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Armored Vehicles Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Armored Vehicles Market
Would they have information for Colombia?
We are trying to understand the armored vehicles requirement, subsegment categorization, and the Indian customers for such products.
Hi. I'm particularity interested in the sections of the market report which covers advancements and new innovations in ballistic armor as well as projections regarding the value and anticipated growth of the US market over the period covered. Many thanks.
Hi. I am after data for the following: 1. Global market size split by region (top 10 markets) 2. Top 5 suppliers 3. Top 10 buyers 4. Best selling model and specs Many Thanks