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Global Armored Vehicles Market Research Report: Forecast (2023-2028)

By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), By System (Engines, Turret Drives, Ammunition Handling Systems, Fire Control Systems, Arma......ments, Ballistic Armor, Countermeasure System, Command and Control System, Power System, Others), By Type (Electric, Conventional), By Mode of Operation (Manned, Unmanned), By Mobility (Wheeled, [4X4, 6X6, 8X8, Others], Tracked), By Sales Channel (OEM, Retrofit), By Region (North America, South America, Europe , The Middle East & Africa, Asia-Pacific), By Company (L3Harris Technologies, Inc., Hanwha Group, General Dynamics Corporation, Lockheed Martin Corporation, Northrop Grumman, Oshkosh Defense, LLC, BAE Systems, Thales Group, ST Engineering, Mitsubishi Heavy Industries, Textron Systems, Denel Soc Ltd, FNSS, Arquus, Iveco Defence Vehicles, Others) Read more

Aerospace & Defense
Apr 2023
Pages 194
Report Format: PDF, Excel, PPT

Market Definition

Armored Vehicles are armed military, commercial, or passenger vehicles, shielded with complete or partial armor plating for protection against bullets, fragments, missiles, projectiles, shells, shrapnel, and weapon systems. Mostly called armed combat vehicles, they come in combination with innovative weaponry, technology, electronics, etc., and can move on continuous tracks or wheels. They play a vital role in reconnaissance, combat, battlefield, etc., with modern versions integrated with advanced technology such as programmable ammunition, autoloaders, and active protection systems.

Market Insights & Analysis: Global Armored Vehicles Market (2023-28)

The Global Armored Vehicles Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. The market growth is majorly carried by the rising defense expenditure of several countries as a response to the rising geopolitical tension and cross-border disputes in numerous regions, leading to increased necessity for military vehicles with bulletproof and other features. In addition, technological advancement in combat vehicles, with added features providing more safety, the scope of modification, and advanced functionality, is adding to the market’s expansion.

Moreover, military forces around the globe are integrating modernization programs into their vehicles to replace their legacy armored vehicles to facilitate new equipment, and new force structure is further raising the adoption of military and combat vehicles. Additionally, integrating Programmable Ammunition and adopting Active Protective Systems (APS) into vehicles further accelerates the industry.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	4.1%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: The UAE, Saudi Arabia, Turkey, Israel , South Africa, Rest of Middle East & Africa
Key Companies Profiled	L3Harris Technologies, Inc., Hanwha Group, General Dynamics Corporation, Lockheed Martin Corporation, Northrop Grumman, Oshkosh Defense, LLC, BAE Systems, Thales Group, ST Engineering, Mitsubishi Heavy Industries, Textron Systems, Denel Soc Ltd, FNSS, Arquus, Iveco Defence Vehicles, Others
Unit Denominations	USD Million/Billion

However, the safety risk of personnel and endangering vehicles with the high possibility of mechanical, electrical, or software failures in combat vehicles due to working in a threatening environment, etc., is bound to hinder the market projection. On the contrary, the high inclination of defense authorities toward Unmanned Combat Ground Vehicles for their added safety and advanced features to perform operations on command without endangering an operator or operator’s safety is raising their adoption, facilitating positive market fluctuation.

Global Armored Vehicles Market Key Driver:

Rising Defense Budget and Cross-Border Disputes in Numerous Countries - Increasing defense expenditure and budget in several countries with rising cross-border disputes has primarily driven the market. The prevalence of conflicts, terrorist activities, and wars worldwide requires numerous countries to strengthen their military equipment and vehicles, fueling market expansion. Likewise, growing emphasis on the sustainability of military vehicles and personnel safety through added advanced safety features with increasing humanitarian missions also adds to the market acceleration. For instance,

In April 2021, Israel’s Ministry of Defense (MOD) signed a contract with Israel Aerospace Industries (IAI) to manufacture and supply nine Z-MAG all-terrain vehicles to the Israel Defense Forces (IDF), with an option to order 21 additional units.

Global Armored Vehicles Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global Armored Vehicles Market Trends & Insights
Global Armored Vehicles Market Dynamics
1. Growth Drivers
2. Challenges
Global Armored Vehicles Market Hotspot & Opportunities
Global Armored Vehicles Market Policies & Regulations
Global Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
    1. Combat Vehicles
      1. Main Battle Tanks
      2. Infantry Fighting Vehicles
      3. Armored Personal Carriers
      4. Armored Amphibious Vehicles
      5. Mine-Resistant Ambush Protected Vehicles
      6. Light Armored Vehicles
      7. Others (Self Propelled Howitzers, Air Defence Vehicles, etc.)
    2. Combat Support Vehicles
      1. Armored Supply Trucks
      2. Armored Command and Control Vehicles
      3. Repair and Recovery Vehicles
      4. Others (Bridge laying Tanks, Mine Clearance Vehicles, etc.)
    3. Unmanned Armored Ground Vehicles
  2. By System
    1. Engines
    2. Turret Drives
    3. Ammunition Handling Systems
    4. Fire Control Systems
    5. Armaments
    6. Ballistic Armor
    7. Countermeasure System
    8. Command and Control System
    9. Power System
    10. Others (Navigation System, Observation and Display Systems, etc.)
  3. By Type
    1. Electric
    2. Conventional
  4. By Mode of Operation
    1. Manned
    2. Unmanned
  5. By Mobility
    1. Wheeled
      1. 4X4
      2. 6X6
      3. 8X8
      4. Others (10X10, 12X12, etc.)
    2. Tracked
  6. By Sales Channel
    1. OEM
    2. Retrofit
  7. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  8. By Competitors
    1. Competition Characteristics
    2. Market Share & Analysis
North America Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
  2. By System
  3. By Type
  4. By Mode of Transportation
  5. By Mobility
  6. By Sales Channel
  7. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
4. Canada Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
5. Mexico Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
South America Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
  2. By System
  3. By Type
  4. By Mode of Transportation
  5. By Mobility
  6. By Sales Channel
  7. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
4. Argentina Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
Europe Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
  2. By System
  3. By Type
  4. By Mode of Transportation
  5. By Mobility
  6. By Sales Channel
  7. By Country
    1. The UK
    2. Germany
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. The UK Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
4. Germany Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
5. France Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
6. Italy Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
7. Spain Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
The Middle East & Africa Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
  2. By System
  3. By Type
  4. By Mode of Transportation
  5. By Mobility
  6. By Sales Channel
  7. By Country
    1. The UAE
    2. Saudi Arabia
    3. Turkey
    4. Israel
    5. South Africa
    6. Rest of Middle East & Africa
3. The UAE Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
4. Saudi Arabia Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
5. Turkey Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
6. Israel Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
7. South Africa Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
Asia-Pacific Armored Vehicles Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenue (USD Million)
2. Market Share & Analysis
  1. By Platform
  2. By System
  3. By Type
  4. By Mode of Transportation
  5. By Mobility
  6. By Sales Channel
  7. By Country
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Australia
    6. Rest of Asia Pacific
3. China Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
4. Japan Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
5. South Korea Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
6. India Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
7. Australia and Armored Vehicles Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenue (USD Million)
  2. Market Share & Analysis
    1. By Platform
    2. By System
    3. By Mobility
Global Armored Vehicles Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Target Markets
  2. Research & Development
  3. Collaborations & Strategic Alliances
  4. Key Business Expansion Initiatives
  5. Business Restructuring- Mergers, Acquisitions, JVs
  6. Strategic Initiatives
2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. L3Harris Technologies, Inc.
  2. Hanwha Group
  3. General Dynamics Corporation
  4. Lockheed Martin Corporation
  5. Northrop Grumman
  6. Oshkosh Defense, LLC
  7. BAE Systems
  8. Thales Group
  9. ST Engineering
  10. Mitsubishi Heavy Industries
  11. Textron Systems
  12. Denel Soc Ltd
  13. FNSS
  14. Arquus
  15. Iveco Defence Vehicles
  16. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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