Armored Vehicles Market Statistics, Opportunities and Forecast to 2025

1
According to the latest market research report
the Global Armored Vehicles Market size is
projected to grow from USD 11.6 billion in 2020
to USD 15.4 billion by 2025, at a CAGR of
5.8 from 2020 to 2025. Increasing demand for
armored vehicles due to the rise in the
instances of cross- border conflicts and
rising incidences of asymmetric warfare across
the globe are major factors driving the
growth of the
armored market.
vehicles However,
the absence of major OEMs of armored vehicles in
the Middle East and Asia Pacific region and the
occurrence of mechanical, electrical, and other
kinds of failure in armored vehicles are
projected to hinder the growth of the
market. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id6322755 COVI
D-19 impact on the Global Armored Vehicles
Market The COVID-19 pandemic has caused a
multi-level impact on economies globally. The
global manufacturing of automotive parts,
components, and assembly lines has been severely
impacted. Although the production of armored
vehicles is of prime importance, disruptions in
the supply chain have set back their
manufacturing for the time being. Resuming the
manufacturing and deliveries of armored vehicles
depends on the level of COVID-19 exposure a
country is facing, the level at which
manufacturing operations are running, and
import-export regulations, among others. Although
companies may still be taking in orders,
delivery schedules might not be fixed. The combat
vehicle segment is projected to lead the armored
vehicles market from 2018 to 2023. Based on the
platform, the armored vehicles market has been
segmented into combat vehicles, combat support
vehicles, and unmanned armored ground vehicles.
The combat vehicle segment is projected to lead
the armored vehicles market during the forecast
period. Increasing demand for Armored Personnel
Carriers (APCs) and Light Armored Vehicles
(LAVs) across the globe is leading to the growth
of the combat vehicle segment of the market. The
armaments segment is projected to lead the
armored vehicles market during the forecast
period.
2
Based on system, the armored vehicles 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 armaments segment is estimated to lead the
armored vehicles market from 2018 to 2023. The
growth of this segment can be attributed to the
increased demand for remote weapon stations,
Anti-tank Guided Missile (ATGM) launchers, and
other armaments across the globe. The Asia
Pacific armored vehicle market is projected to
grow at the highest CAGR during the forecast
period. The Asia Pacific armored vehicles market
is projected to grow at the highest CAGR from
2018 to 2023. The growth of the market in this
region can be attributed to the rising number of
terrorist activities in this region and the
increasing spending of emerging economies on
defense operations. Countries such as India and
China have increased their defense budgets and
are procuring advanced armored vehicles for
their military operations. This, in turn, is
expected to drive the growth of the Asia Pacific
armored vehicles market during the forecast
period. Key Market Players Key players profiled
in this report on the armored vehicles market
include Oshkosh Corporation (US), UralVagonZavod
(Russia), Ukroboronprom (Ukraine), General
Dynamics Corporation (US), BAE Systems plc (UK),
NORINCO (China), Rheinmetall AG (Germany), and
Textron Inc. (US). Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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