Global Armored Vehicle Market Outlook 2019-2025: $36.4 Billion Opportunity Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 25, 2019--The “Armored Vehicle Market Size, Share & Trends Analysis Report By Product (Defense, Commercial), By Application (Main Battle Tanks, Armored Personnel Carrier), And Segment Forecasts, 2019 - 2025” report has been added to ResearchAndMarkets.com’s offering.
The global armored vehicle market size is expected to reach USD 36.4 billion by 2025, registering a CAGR of 5.4% from 2019 to 2025. Growing internal and external terrorist activities across the globe are expected to drive market demand over the forecast period. Technological advancements such as unmanned vehicles are expected to further fuel market growth.
Armored vehicles are protected by layers of depleted uranium or stainless-steel and are equipped with robust weapons that combine defensive, tactical offensive, and operational mobility capabilities. Development of advanced vehicles and technologies such as unmanned armored vehicle and AI-based smart object recognition and tracking technology to be used in the military sector is expected to propel the market over the next few years.
Growing need to protect military recruits from land mines and fire is expected to drive demand for armored vehicles over the forecast period. Furthermore, demand for these vehicles is increasing in the Asia Pacific and Middle East and Africa regions owing to constant tension among neighboring countries and internal threats from rebels.
Major market players are making massive investments in research and development programs to develop new technologies and products. Enhanced protection and fuel efficiency are key aspects considered for future developments in armored vehicles. For instance, in April 2018, BAE Systems developed a new version of the Armored Multi-Purpose Vehicle (AMPV), which was equipped with mine roller systems. The vehicle is widely used for protection against improvised explosive devices.
Further key findings from the report suggest:
- By product, the Main Battle Tanks (MBT) segment is anticipated to exhibit the highest CAGR of 5.9% from 2019 to 2025 owing to improved firing abilities of MBTs even while moving at high speeds
- On the basis of application, the commercial segment is anticipated to register the highest CAGR of 5.8% from 2019 to 2025. This growth can be attributed to increasing adoption of commercial armored vehicle by banks to transfer money
- The Asia Pacific region is expected to continue to dominate the market over the forecast period and is anticipated to reach USD 11.9 billion by 2025 owing to increase in border or terrorism threats and expanding defense budgets of countries such as India, China, and Russia
- Key industry participants include BAE Systems, BMW AG, Daimler AG (Mercedes Benz), Elbit Systems, Ford Motor Company, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, IVECO, Krauss-Maffei Wegmann GmbH & Co. (KMW), Lenco Industries, Inc., Lockheed Martin Corporation, Navistar, Inc., Oshkosh Defense, LLC, Rheinmetall AG, STAT, Inc., Textron, Inc., and Thales Group.
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Armored Vehicle Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025
2.2 Global Armored Vehicle Market, 2014 - 2025 (USD Million)
2.2.1 Global armored vehicle market, by region, 2014 - 2025
2.2.2 Global defense armored vehicle market, by product, 2014 - 2025
2.2.3 Global commercial armored vehicle market, by product, 2014 - 2025
2.2.4 Global armored vehicle market, by application, 2014 - 2025
Chapter 3 Armored Vehicle Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Armored Vehicle - Value Chain Analysis
3.3.1 Vendor landscape
3.4 Armored Vehicle Market Dynamics
3.4.1 Market driver analysis
184.108.40.206 Militarization of law enforcement agencies
220.127.116.11 Technological advancements in armored vehicles
18.104.22.168 Increase in insurgencies
22.214.171.124 Commercial uses of armored vehicles
3.4.2 Market restraint analysis
126.96.36.199 Reduction in national defense budgets
188.8.131.52 Increased use of unmanned vehicles
3.5 Penetration and Growth Prospect Mapping
3.6 Armored Vehicle Market - Key Company Ranking Analysis, 2017
3.7 Armored Vehicle Market - Porter’s Five Forces Analysis
3.8 Armored Vehicle Market - PESTEL Analysis
Chapter 4 Armored Vehicle Product Outlook
4.1 Armored Vehicle Market Share By Product, 2017
4.2 Defense Armored Vehicles
4.3 Commercial Armored Vehicles
Chapter 5 Armored Vehicle Application Outlook
5.1 Armored Vehicle Market Share By Application, 2017
Chapter 6 Armored Vehicle Regional Outlook
6.1 Armored Vehicle Market Share by Region, 2017
6.2 North America
6.3 North America Armored Vehicle Market, 2014 - 2025 (USD Million)
6.5 Europe Armored Vehicle Market, 2014 - 2025 (USD Million)
6.6 Asia Pacific
6.7 Asia Pacific Armored Vehicle Market, 2014 - 2025 (USD Million)
6.8 Latin America
6.9 Latin America Armored Vehicle Market, 2014 - 2025 (USD Million)
6.11 MEA Armored Vehicle Market, 2014 - 2025 (USD Million)
Chapter 7 Competitive Landscape
7.1 BAE Systems
7.2 Elbit Systems Ltd.
7.3 General Dynamics Corporation
7.4 INKAS Armored Vehicle Manufacturing
7.5 International Armored Group
7.7 Krauss-Maffei Wegmann GmbH & Co.
7.8 Lenco Industries Inc.
7.9 Lockheed Martin Corporation
7.10 Navistar Inc.
7.11 Oshkosh Defense LLC
7.12 Rheinmetall AG
7.13 STAT Inc.
7.14 Textron Inc.
7.15 Thales Group
For more information about this report visit https://www.researchandmarkets.com/research/45r6ng/global_armored?w=4
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Related Topics:Tanks and Armored Vehicles
INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE
SOURCE: Research and Markets
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PUB: 02/25/2019 10:12 AM/DISC: 02/25/2019 10:12 AM