DUBLIN--(BUSINESS WIRE)--May 14, 2018--The "Global Armoured Vehicles Upgrade and Retrofit Market - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The market has been segmented by technology, which includes active protection system, interoperable communication, modular ballistic armor, electric armor, situational awareness, active mine protection, and vehicle information integration.

Geographically, the armored vehicles upgrade and retrofit market is led by the US, Canada, the UK, and Germany, and India, Russia, Malaysia, UAE, China, Israel, Japan, and Korea in Asia-Pacific.

Amid the economic woes in Europe and defense budget cut in the US, companies are facing high levels of uncertainty in the market. However, there has been a growing interest from the emerging markets in APAC and the Middle East. Western military forces are mainly looking for high-end and modernized military armored vehicles and large-scale modernization of the existing fleet of vehicles.

The US is expected to remain a big consumer of upgrade and retrofit of armored vehicles. Excluding Russia, Europe has around 7,500, equivalent to 14%, of the main battle tanks (MBTs). Also, 23 European countries have procurement of armored vehicles underway or planned shortly. It is expected to launch new vehicles manufactured by European manufacturing companies. The armored vehicles upgrade and retrofit market of other countries in Europe is expected to register a CAGR of over 2% and reach USD 0.53 billion by 2023.

Companies Mentioned

BAE Systems CMI Defense Diehl Defense Elbit Systems General Dynamics Rheinmetall RUAG Defense Thales Group Palbam

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Overview and Technology Trends

5. Market Dynamics

6. Global Armored Vehicles Upgrade and Retrofit Market, Segmented by Vehicle Type

7. Global Armored Vehicles Upgrade and Retrofit Market, Segmented by Amour Level Type

8. Global Armored Vehicles Upgrade and Retrofit Market, Segmented by Geography

9. Competitive Landscape

10. Key Vendor Analysis

11. Outlook of the Market

12. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/research/j2pc4m/global_armoured?w=4

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Related Topics:Tanks and Armored Vehicles

KEYWORD:

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 05/14/2018 06:49 AM/DISC: 05/14/2018 06:49 AM

http://www.businesswire.com/news/home/20180514005526/en