Armored Vehicles Market Analysis & Global Forecast Report till 2025

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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
vehicles market. 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.marketsandmarkets.com/pdfd
ownloadNew.asp?id6322755 COVID-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. 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,
2
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). Contracts and new product
launches were key strategies adopted by the
leading players to achieve growth in the armored
vehicles market. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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