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Global Armored Vehicle Market Size Study, by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), by Propulsion (Conventional, Electric), by Mobility (Wheeled, Tracked), by Solution (Line Fit, Retrofit), by System (Drive Systems, Structures & Mechanisms, Weapons & Ammunition Control Systems, Countermeasure Systems, Command & Control Systems, Navigation Systems, Observation & Display Systems, Others), and Regional Forecasts 2022-2032

August 2024 | 200 pages | ID: GDC229E6B6B0EN
Bizwit Research & Consulting LLP

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Global Armored Vehicle Market is valued at approximately USD 22.28 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2024-2032. Armored vehicles, crucial in modern warfare, are designed for both offensive and defensive operations, providing protection and mobility in combat scenarios. The market for these vehicles is expanding due to advancements in military technology, including developments in artillery, automotive systems, electronics, and metallurgy. The introduction of next-generation vehicles equipped with reactive armor technology, programmable ammunition, sophisticated autoloaders, and other advanced features further drives the market growth.

The adoption of electric technology in armored vehicles is gaining momentum as defense sectors worldwide seek to improve sustainability, reduce operational costs, and enhance performance. Electric armored vehicles offer several advantages, including quieter operation, reduced heat signatures, and lower fuel consumption, making them harder to detect and target in combat situations. Countries like the United States, the United Kingdom, and Germany are leading the charge, investing heavily in research and development to integrate electric propulsion systems into their armored fleets. The ongoing development of hybrid electric propulsion systems, as seen in initiatives like the U.S. Army's Electric Light Reconnaissance Vehicle program, further highlights the trend towards electrification
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The increasing prevalence of asymmetric warfare, where opposing forces have unequal military resources, is another key driver for the armored vehicle market. Governments are deploying combat vehicles equipped with advanced weaponry systems to counter terrorist attacks and insurgencies. The rise in international conflicts, terrorist activities, and cross-border operations is prompting nations to upgrade their military systems, thereby fueling market growth. Moreover, the technological advancements in armored vehicles, increasing defense budgets globally, and rising geopolitical tensions present various lucrative opportunities over the forecast years.

However, the market faces challenges such as mechanical and electrical failures, which require regular maintenance and significant costs. Ensuring the reliability and operational readiness of these vehicles is critical, as failures can result in mission failures and loss of life. Despite these challenges, the market is expected to witness substantial growth, driven by increasing defense budgets and technological advancements.

The key regions considered for the Global Armored Vehicle Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Armored Vehicle Market in terms of revenue. The market growth in the region is being attributed to factors including the high defense spending by the U.S. government and the presence of key market players. The region's focus on modernizing its military vehicle fleet further supports market growth. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rising defense expenditures in countries like India, China, South Korea, and Japan. The region's increasing focus on countering terrorism and addressing cross-border conflicts is propelling demand for advanced armored vehicles.

Major market players included in this report are:
BAE Systems (U.K.)
General Dynamics Corporation (U.S.)
Rheinmetall AG (Germany)
Krauss-Maffei Wegmann GmbH (Germany)
Denel SOC Ltd (South Africa)
IVECO DEFENCE VEHICLES (Italy)
NORINCOGROUP.com Inc. (China)
Oshkosh Defense, LLC An Oshkosh Corporation Company (U.S.)
Otokar, a KOC Group Company (Turkey)
Textron Systems (U.S.)
Lockheed Martin Corporation
Northrop Grumman Corporation
Thales Group
ST Engineering Ltd (Singapore Technologies Engineering)
Nexter Systems SA

The detailed segments and sub-segment of the market are explained below:
By Platform:
Combat Vehicles
Combat Support Vehicles
Unmanned Armored Ground Vehicles

By Propulsion:
Conventional
Electric

By Mobility:
Wheeled
Tracked

By Solution:
Line Fit
Retrofit

By System:
Drive Systems
Structures & Mechanisms
Weapons & Ammunition Control Systems
Countermeasure Systems
Command & Control Systems
Navigation Systems
Observation & Display Systems
Others

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
CHAPTER 1. GLOBAL ARMORED VEHICLE MARKET EXECUTIVE SUMMARY

1.1. Global Armored Vehicle Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Platform
  1.3.2. By Propulsion
  1.3.3. By Mobility
  1.3.4. By Solution
  1.3.5. By System
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL ARMORED VEHICLE MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL ARMORED VEHICLE MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Adoption of Electric Technology for Armored Vehicles
  3.1.2. Increasing Demand for Next-Generation Military Vehicles
  3.1.3. Prevalence of Asymmetric Warfare
3.2. Market Challenges
  3.2.1. Mechanical and Electrical Failures
  3.2.2. High Maintenance Costs
3.3. Market Opportunities
  3.3.1. Technological Advancements in Armored Vehicles
  3.3.2. Increasing Defense Budgets Globally
  3.3.3. Rising Geopolitical Tensions

CHAPTER 4. GLOBAL ARMORED VEHICLE MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY PLATFORM 2022-2032

5.1. Segment Dashboard
5.2. Global Armored Vehicle Market: Platform Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  5.2.1. Combat Vehicles
  5.2.2. Combat Support Vehicles
  5.2.3. Unmanned Armored Ground Vehicles

CHAPTER 6. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY PROPULSION 2022-2032

6.1. Segment Dashboard
6.2. Global Armored Vehicle Market: Propulsion Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  6.2.1. Conventional
  6.2.2. Electric

CHAPTER 7. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY MOBILITY 2022-2032

7.1. Segment Dashboard
7.2. Global Armored Vehicle Market: Mobility Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  7.2.1. Wheeled
  7.2.2. Tracked

CHAPTER 8. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY SOLUTION 2022-2032

8.1. Segment Dashboard
8.2. Global Armored Vehicle Market: Solution Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  8.2.1. Line Fit
  8.2.2. Retrofit

CHAPTER 9. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY SYSTEM 2022-2032

9.1. Segment Dashboard
9.2. Global Armored Vehicle Market: System Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  9.2.1. Drive Systems
  9.2.2. Structures & Mechanisms
  9.2.3. Weapons & Ammunition Control Systems
  9.2.4. Countermeasure Systems
  9.2.5. Command & Control Systems
  9.2.6. Navigation Systems
  9.2.7. Observation & Display Systems
  9.2.8. Others

CHAPTER 10. GLOBAL ARMORED VEHICLE MARKET SIZE & FORECASTS BY REGION 2022-2032

10.1. North America Armored Vehicle Market
  10.1.1. U.S. Armored Vehicle Market
    10.1.1.1. Platform breakdown size & forecasts, 2022-2032
    10.1.1.2. Propulsion breakdown size & forecasts, 2022-2032
    10.1.1.2. Mobility breakdown size & forecasts, 2022-2032
    10.1.1.2. Solution breakdown size & forecasts, 2022-2032
    10.1.1.2. System breakdown size & forecasts, 2022-2032
  10.1.2. Canada Armored Vehicle Market
10.2. Europe Armored Vehicle Market
  10.2.1. U.K. Armored Vehicle Market
  10.2.2. Germany Armored Vehicle Market
  10.2.3. France Armored Vehicle Market
  10.2.4. Spain Armored Vehicle Market
  10.2.5. Italy Armored Vehicle Market
  10.2.6. Rest of Europe Armored Vehicle Market
10.3. Asia-Pacific Armored Vehicle Market
  10.3.1. China Armored Vehicle Market
  10.3.2. India Armored Vehicle Market
  10.3.3. Japan Armored Vehicle Market
  10.3.4. Australia Armored Vehicle Market
  10.3.5. South Korea Armored Vehicle Market
  10.3.6. Rest of Asia Pacific Armored Vehicle Market
10.4. Latin America Armored Vehicle Market
  10.4.1. Brazil Armored Vehicle Market
  10.4.2. Mexico Armored Vehicle Market
  10.4.3. Rest of Latin America Armored Vehicle Market
10.5. Middle East & Africa Armored Vehicle Market
  10.5.1. Saudi Arabia Armored Vehicle Market
  10.5.2. South Africa Armored Vehicle Market
  10.5.3. Rest of Middle East & Africa Armored Vehicle Market

CHAPTER 11. COMPETITIVE INTELLIGENCE

11.1. Key Company SWOT Analysis
  11.1.1. Company
  11.1.2. Company
  11.1.3. Company
11.2. Top Market Strategies
11.3. Company Profiles
  11.3.1. BAE Systems
    11.3.1.1. Key Information
    11.3.1.2. Overview
    11.3.1.3. Financial (Subject to Data Availability)
    11.3.1.4. Product Summary
    11.3.1.5. Market Strategies
  11.3.2. General Dynamics Corporation
  11.3.3. Rheinmetall AG
  11.3.4. Krauss-Maffei Wegmann GmbH
  11.3.5. Denel SOC Ltd
  11.3.6. IVECO DEFENCE VEHICLES
  11.3.7. NORINCOGROUP.com Inc.
  11.3.8. Oshkosh Defense, LLC
  11.3.9. Otokar, a KOC Group Company
  11.3.10. Textron Systems
  11.3.11. Lockheed Martin Corporation
  11.3.12. Northrop Grumman Corporation
  11.3.13. Thales Group
  11.3.14. ST Engineering Ltd (Singapore Technologies Engineering)
  11.3.15. Nexter Systems SA

CHAPTER 12. RESEARCH PROCESS

12.1. Research Process
  12.1.1. Data Mining
  12.1.2. Analysis
  12.1.3. Market Estimation
  12.1.4. Validation
  12.1.5. Publishing
12.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Armored Vehicle market, report scope
TABLE 2. Global Armored Vehicle market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Armored Vehicle market estimates & forecasts by Platform 2022-2032 (USD Billion)
TABLE 4. Global Armored Vehicle market estimates & forecasts by Propulsion 2022-2032 (USD Billion)
TABLE 5. Global Armored Vehicle market estimates & forecasts by Mobility 2022-2032 (USD Billion)
TABLE 6. Global Armored Vehicle market estimates & forecasts by Solution 2022-2032 (USD Billion)
TABLE 7. Global Armored Vehicle market estimates & forecasts by System 2022-2032 (USD Billion)
TABLE 8. Global Armored Vehicle market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Armored Vehicle market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Armored Vehicle market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Armored Vehicle market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Armored Vehicle market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Armored Vehicle market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Armored Vehicle market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Armored Vehicle market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Armored Vehicle market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Armored Vehicle market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Armored Vehicle market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Armored Vehicle market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Armored Vehicle market estimates & forecasts by segment 2022-2032 (USD Billion)
…..
This list is not complete, the final report does contain more than 100 tables. The list may be updated in the final deliverable.

LIST OF FIGURES

FIG 1. Global Armored Vehicle market, research methodology
FIG 2. Global Armored Vehicle market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Armored Vehicle market, key trends 2023
FIG 5. Global Armored Vehicle market, growth prospects 2022-2032
FIG 6. Global Armored Vehicle market, porters 5 force model
FIG 7. Global Armored Vehicle market, PESTEL analysis
FIG 8. Global Armored Vehicle market, value chain analysis
FIG 9. Global Armored Vehicle market by segment, 2022 & 2032 (USD Billion)
FIG 10. Global Armored Vehicle market by segment, 2022 & 2032 (USD Billion)
FIG 11. Global Armored Vehicle market by segment, 2022 & 2032 (USD Billion)
FIG 12. Global Armored Vehicle market by segment, 2022 & 2032 (USD Billion)
FIG 13. Global Armored Vehicle market by segment, 2022 & 2032 (USD Billion)
FIG 14. Global Armored Vehicle market, regional snapshot 2022 & 2032
FIG 15. North America Armored Vehicle market 2022 & 2032 (USD Billion)
FIG 16. Europe Armored Vehicle market 2022 & 2032 (USD Billion)
FIG 17. Asia pacific Armored Vehicle market 2022 & 2032 (USD Billion)
FIG 18. Latin America Armored Vehicle market 2022 & 2032 (USD Billion)
FIG 19. Middle East & Africa Armored Vehicle market 2022 & 2032 (USD Billion)
FIG 20. Global Armored Vehicle market, company market share analysis (2023)
…..
This list is not complete, the final report does contain more than 50 figures. The list may be updated in the final deliverable.


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