All updated as on -
In 2022, the market for armored vehicles was estimated to be worth $15.99 billion. By 2030, it is expected to grow to $21.99 billion, with a CAGR of 5.2%.
The security vehicles used for the safe and secure transit of the military forces are called armored vehicles. These cars have typically only been owned by members of the military, law enforcement, and clergy. The top executives in the corporate sector, VIPs, and celebrities now employ these vehicles, though. Battle tanks, armored cars, and armored personnel carriers are some common types of armored vehicles. Over the past several years, there has been a significant increase in demand for armored vehicles on a global scale. The main factor driving the market's growth is the increased emphasis on protecting the soldiers from both internal and external threats.Additionally, the market is expected to rise in the upcoming years due to factors including an increase in cross-border conflicts and an increase in asymmetric warfare incidents. In addition, it is anticipated that the escalating security threats, technical advancements, and adoption of COTS components would all favorably affect the market's expansion in the years to come. On the other hand, the market's expansion may be hampered by the high cost required, the lack of important OEMs for armored vehicles, and fluctuating raw material prices.
Defense forces must prioritize better monitoring of maritime and land borders due to the rising number of terrorist attacks worldwide, particularly those that target border areas. The reaction time between the identification of threats and their interception is often very high and rapid, making it challenging for armed forces to deal with the situation successfully in some circumstances. Robots can serve as the ideal human substitute in these situations since they are better able to conduct cross-border surveillance and intelligence gathering with quicker reaction times and more precision. Robots can efficiently and successfully patrol national boundaries and continuously transmit up-to-the-second information to ground stations. As they are deployed by defense forces of many nations to carry out target acquisition and surveillance activities, autonomous robots are becoming more and more in demand all over the world. Military robots with ISR and target acquisition capabilities are being developed by well-known corporations as Northrop Grumman Corporation (US), Boeing Company (US), IAI (Israel), and Textron Inc. (US).
Because they operate over uneven terrain, armored vehicles are susceptible to mechanical strain as well as logistical stress from cross-country missions. These vehicles' engines and transmission systems frequently fail mechanically as a result of their constant, high-speed travel. In addition, they experience various problems such part jamming, component malfunction, and power outages. Critical circumstances during wars result from these breakdowns since rescue and recovery teams might sometimes find it difficult to fix them. Additionally, it might be challenging to identify damaged equipment or components that cause armored vehicles to malfunction. As a result, producers of armored vehicles are always working to address these problems by creating fresh, cutting-edge designs with composite materials and equipping their products with cutting-edge technology.
Both the defense and private sectors rely on armored vehicles for a variety of essential functions. These vehicles are essential in defense applications for assuring the safety and security of military personnel and equipment. While main battle tanks provide unequaled firepower and strong defense capabilities on the battlefield, armored personnel vehicles provide protection during tactical operations and troop transports. Infantry combat vehicles are essential tools for ground armies because they combine offensive potential with strong mobility. Other armored vehicles, such as armored recovery vehicles and armored reconnaissance vehicles, offer specific assistance during vehicle recovery operations and reconnaissance missions.
The armored vehicle sector provides a variety of customized offerings to meet various requirements in the context of commercial use. Executive protection and high-profile transportation are two uses for armored SUVs and sedans, which offer VIPs an unmatched level of safety and security. VIPs are discreetly protected while traveling in limousines built with armored elements, ensuring their security and well-being. Additionally, for the transportation of assets, armored cash-in-transit trucks provide strong security, reducing the dangers involved with such activities. Additionally, special purpose armored vehicles are used in tough locations to protect people and assets in the mining, construction, and exploration industries.
The worldwide armored vehicle market is affected on many different levels by the COVID-19 pandemic epidemic. Significant effects have been felt by companies that produce car assembly lines, parts, and components. Due to the pandemic crisis, armored vehicle production has also slowed down.To restart production and boost demand for the vehicles, the leading competitors in the global armored vehicle market are increasingly implementing different tactics and strategies. During the anticipated years, the market will experience significant expansion thanks to government initiatives, combined with the efforts of the major armored vehicle manufacturers.
Report Coverage
Global Armored Vehicles research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Armored Vehicles report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Armored Vehicles competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Armored Vehicles market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Armored Vehicles market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Armored Vehicles market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BAE Systems, PLC (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), International Armored Group (US), Krauss-Maffei Wegmann GmbH & Co. (Germany), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), INKAS Armored Vehicle Manufacturing (Canada), Mitsubishi Heavy Industries, Ltd (Japan), Oshkosh Corporation (US), and Diehl Defence GmbH & Co. KG (Germany).BAE Systems, PLC (UK), Lenco Armored Vehicles, STREIT Group.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Armored Vehicles market based on the below-mentioned segments:
Global Armored Vehicles Market, By Vehicle Type
Armored Personnel Carrier
Infantry Fighting Vehicle
Main Battle Tanks
Tactical Truck
Bus
Limousine
Sedan
Other
Global Armored Vehicles market, By Application
DEFENSE
COMMERCIAL
Global Armored Vehicles Market, By Drive Type
Wheel
Track
Global Armored Vehicles market, Regional Analysis
The security vehicles used for the safe and secure transit of the military forces are called armored vehicles. These cars have typically only been owned by members of the military, law enforcement, and clergy. The top executives in the corporate sector, VIPs, and celebrities now employ these vehicles, though. Battle tanks, armored cars, and armored personnel carriers are some common types of armored vehicles. Over the past several years, there has been a significant increase in demand for armored vehicles on a global scale. The main factor driving the market's growth is the increased emphasis on protecting the soldiers from both internal and external threats.Additionally, the market is expected to rise in the upcoming years due to factors including an increase in cross-border conflicts and an increase in asymmetric warfare incidents. In addition, it is anticipated that the escalating security threats, technical advancements, and adoption of COTS components would all favorably affect the market's expansion in the years to come. On the other hand, the market's expansion may be hampered by the high cost required, the lack of important OEMs for armored vehicles, and fluctuating raw material prices.
Defense forces must prioritize better monitoring of maritime and land borders due to the rising number of terrorist attacks worldwide, particularly those that target border areas. The reaction time between the identification of threats and their interception is often very high and rapid, making it challenging for armed forces to deal with the situation successfully in some circumstances. Robots can serve as the ideal human substitute in these situations since they are better able to conduct cross-border surveillance and intelligence gathering with quicker reaction times and more precision. Robots can efficiently and successfully patrol national boundaries and continuously transmit up-to-the-second information to ground stations. As they are deployed by defense forces of many nations to carry out target acquisition and surveillance activities, autonomous robots are becoming more and more in demand all over the world. Military robots with ISR and target acquisition capabilities are being developed by well-known corporations as Northrop Grumman Corporation (US), Boeing Company (US), IAI (Israel), and Textron Inc. (US).
Because they operate over uneven terrain, armored vehicles are susceptible to mechanical strain as well as logistical stress from cross-country missions. These vehicles' engines and transmission systems frequently fail mechanically as a result of their constant, high-speed travel. In addition, they experience various problems such part jamming, component malfunction, and power outages. Critical circumstances during wars result from these breakdowns since rescue and recovery teams might sometimes find it difficult to fix them. Additionally, it might be challenging to identify damaged equipment or components that cause armored vehicles to malfunction. As a result, producers of armored vehicles are always working to address these problems by creating fresh, cutting-edge designs with composite materials and equipping their products with cutting-edge technology.
Both the defense and private sectors rely on armored vehicles for a variety of essential functions. These vehicles are essential in defense applications for assuring the safety and security of military personnel and equipment. While main battle tanks provide unequaled firepower and strong defense capabilities on the battlefield, armored personnel vehicles provide protection during tactical operations and troop transports. Infantry combat vehicles are essential tools for ground armies because they combine offensive potential with strong mobility. Other armored vehicles, such as armored recovery vehicles and armored reconnaissance vehicles, offer specific assistance during vehicle recovery operations and reconnaissance missions.
The armored vehicle sector provides a variety of customized offerings to meet various requirements in the context of commercial use. Executive protection and high-profile transportation are two uses for armored SUVs and sedans, which offer VIPs an unmatched level of safety and security. VIPs are discreetly protected while traveling in limousines built with armored elements, ensuring their security and well-being. Additionally, for the transportation of assets, armored cash-in-transit trucks provide strong security, reducing the dangers involved with such activities. Additionally, special purpose armored vehicles are used in tough locations to protect people and assets in the mining, construction, and exploration industries.
The worldwide armored vehicle market is affected on many different levels by the COVID-19 pandemic epidemic. Significant effects have been felt by companies that produce car assembly lines, parts, and components. Due to the pandemic crisis, armored vehicle production has also slowed down.To restart production and boost demand for the vehicles, the leading competitors in the global armored vehicle market are increasingly implementing different tactics and strategies. During the anticipated years, the market will experience significant expansion thanks to government initiatives, combined with the efforts of the major armored vehicle manufacturers.
Report Coverage
Global Armored Vehicles research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Armored Vehicles report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Armored Vehicles competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Armored Vehicles market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BAE Systems, PLC (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), International Armored Group (US), Krauss-Maffei Wegmann GmbH & Co. (Germany), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), INKAS Armored Vehicle Manufacturing (Canada), Mitsubishi Heavy Industries, Ltd (Japan), Oshkosh Corporation (US), and Diehl Defence GmbH & Co. KG (Germany).BAE Systems, PLC (UK), Lenco Armored Vehicles, STREIT Group. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Armored Vehicles Market from 2021 to 2030.
- Market Forecast for Armored Vehicles Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Armored Vehicles competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Armored Vehicles
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Armored Vehicles market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Armored Vehicles market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BAE Systems, PLC (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), International Armored Group (US), Krauss-Maffei Wegmann GmbH & Co. (Germany), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), INKAS Armored Vehicle Manufacturing (Canada), Mitsubishi Heavy Industries, Ltd (Japan), Oshkosh Corporation (US), and Diehl Defence GmbH & Co. KG (Germany).BAE Systems, PLC (UK), Lenco Armored Vehicles, STREIT Group.
Primary Target Market
- Market Players of Armored Vehicles
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Armored Vehicles market based on the below-mentioned segments:
Global Armored Vehicles Market, By Vehicle Type
Armored Personnel Carrier
Infantry Fighting Vehicle
Main Battle Tanks
Tactical Truck
Bus
Limousine
Sedan
Other
Global Armored Vehicles market, By Application
DEFENSE
COMMERCIAL
Global Armored Vehicles Market, By Drive Type
Wheel
Track
Global Armored Vehicles market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive armored vehicles market market research and competitor analysis for your business to help you develop more profound insights into the armored vehicles market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the armored vehicles market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.