World Military Armored Vehicles & MRO Market to Register 3.71% CAGR to 2026, Forecasts SDI in Its Report Available at MarketPublishers.com
09 Sep 2016 • by Natalie Aster
LONDON – Worldwide, the market for military armored vehicles and maintenance, repair, and overhaul (MRO) services is poised to be estimated at USD 22.5 billion in 2016 and amount to USD 32.4 billion in value terms by 2026-end, registering a CAGR of 3.71%.
The capability to provide increased capabilities of ground formations with respect to protection and munitions of war is set to push up the demand for armored force vehicles in the foreseeable future.
The threat from adjacent nations and insurgencies will also likely be a key factor expected to give a boost to the soaring demand for armored force vehicles. Furthermore, the huge base of current inventory along with new procurements during the next 10 years is poised to generate the need for service and maintenance activities, which will likely contribute to the increased growth of the armored vehicles MRO marketplace.
Segment-wise, infantry fighting vehicles (IFVs) are set to grab the lion’s share (32.2%) of the market, with the main battle tank (MBT) segment following after with 25.8% share. The armored personnel carrier (APC) segment is anticipated to be the 3rd largest segment with 17.4% share.
The APAC region is forecast to take the lead in the worldwide armored vehicles and MRO market through to 2026, capturing 26.8% share of the overall market. Furthermore, North America and Europe are poised to grab an extensive portion of the overall military armored force vehicle and MRO market in the offing, capturing 24.8% and 23.9% of the market, respectively.
In-demand research report “The Global Military Armored Vehicles and MRO Market 2016-2026” elaborated by SDI offers a detailed look at the historical and current industry performance, as well as provides granular market size forecasts.
The study gives deep insights into the demand drivers and growth propellers, provides a brief review of the expenditure and modernisation patterns of various regions globally. The report examines a slew of latest technology developments and a detailed analysis of the changing preferences for armored vehicle segments from pole to pole; limelights major trends of the changing industry structure and the challenges faced by market players. It offers a detailed regional analysis of the market, canvassing the key segments of the market that are poised to be in demand. It gives a review of the leading programs in each segment, which are set to be executed throughout the projected period. The research report also carefully examines the competitive scene in the industry, profiling key players, alongside information pertaining to key alliances, strategic incentives, and financial assessment.
More topical market research studies by SDI are available at its page.