Armored Vehicle Market, By Type, By Mode of Operation, By System, By Geography

Description

The Global Armored Vehicle Market is estimated to be valued at US$ 28.45 Bn in 2024 and is expected to reach US$ 42.21 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

Figure 1. Armored Vehicle Market Share (%), By Region, 2024

The global armored vehicle market has been witnessing significant growth in the recent years. Factors such as increasing defense budgets of major economies and escalating geopolitical tensions across the world have been driving the demand for armored vehicles. Moreover, rising asymmetric warfare and terrorism activities have compelled military forces to focus more on protecting soldiers. As a result, there has been a rise in procurement of armored fighting vehicles and armored personnel carriers by armed forces. Additionally, growing necessity of armored vehicles for peacekeeping missions and law enforcement operations is further augmenting the sales prospects in this market. However, high research and development costs associated with technologically advanced armor materials pose a challenge. Nevertheless, growing investments by key manufacturers in advanced armor technologies are likely to unfold new opportunities for market players over the coming years.

Market Dynamics:

The global armored vehicle market growth is majorly driven by the increasing defense budgets of developed as well as developing economies. Escalating geopolitical tensions and cross-border conflicts have encouraged nations to strengthen their military capabilities. This has significantly driven the demand for advanced armored vehicles among armed forces. Additionally, growing asymmetric warfare and rising terrorism activities worldwide have compelled military modernization with protective vehicles. However, high costs associated with research, development and production of technologically advanced armor materials negatively impact the market growth. Moreover, extended timelines for new procurement also restrain the sales of armored vehicles to some extent. Whereas, ongoing advances in composite armors, active protection systems, and electric drivetrains present lucrative opportunities for market expansion.

Key features of the study:

This report provides in-depth analysis of the global armored vehicle market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global armored vehicle market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include BAE Systems, BMW AG, Daimler AG (Mercedes Benz), Ford Motor Company, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, Lenco Industries, Inc., Lockheed Martin Corporation, Navistar, Inc., Oshkosh Defense, LLC, Rheinmetall AG, STAT, Inc., Textron, Inc., and Thales Group
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global armored vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global armored vehicle market

Detailed Segmentation:

By Type
- Electric Armored Vehicles
- Conventional Armored Vehicles
By Mode Of Operation
- Manned Armored Vehicles
- Unmanned Armored Vehicles
By System
- Drive Systems
- Structures & Mechanisms
- Weapons & Ammunition Control Systems
- Countermeasure Systems
- Command & Control Systems
- Navigation Systems
- Observation & Display Systems
- Others
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- BAE Systems
- BMW AG
- Daimler AG (Mercedes Benz)
- Ford Motor Company
- General Dynamics Corporation
- INKAS Armored Vehicle Manufacturing
- International Armored Group
- Lenco Industries, Inc.
- Lockheed Martin Corporation
- Navistar, Inc.
- Oshkosh Defense, LLC
- Rheinmetall AG
- STAT, Inc.
- Textron, Inc.
- Thales Group.

Product Code: CMI7077

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Mode of Operation
- Market Snippet, By System
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of COVID-19 Pandemic

4. Global Armored Vehicle Market, By Type, 2019-2031 (US$ Bn)

Electric Armored Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Conventional Armored Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Armored Vehicle Market, By Mode of Operation, 2019-2031 (US$ Bn)

Manned Armored Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Unmanned Armored Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Armored Vehicle Market, By System, 2019-2031 (US$ Bn)

Drive Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Structures & Mechanisms
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Weapons & Ammunition Control Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Countermeasure Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Command & Control Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Navigation Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Observation & Display Systems
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Armored Vehicle Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Mode of Operation, 2019-2031 (US$ Bn)
- Market Size and Forecast, By System, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Mode of Operation, 2019-2031 (US$ Bn)
- Market Size and Forecast, By System, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Mode of Operation, 2019-2031 (US$ Bn)
- Market Size and Forecast, By System, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Mode of Operation, 2019-2031 (US$ Bn)
- Market Size and Forecast, By System, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East and Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Mode of Operation, 2019-2031 (US$ Bn)
- Market Size and Forecast, By System, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - South Africa
  - GCC Countries
  - Rest of the Middle East and Africa

8. Competitive Landscape

Company Profiles
- BAE Systems
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BMW AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Daimler AG (Mercedes Benz)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ford Motor Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- General Dynamics Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- INKAS Armored Vehicle Manufacturing
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- International Armored Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Lenco Industries, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Lockheed Martin Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Navistar, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Oshkosh Defense, LLC
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Rheinmetall AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- STAT, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Textron, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Thales Group.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Wheel of Fortune

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Reference and Research Methodology

References
Research Methodology
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