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Sep 11, 2020 6:32 AM ET

Global Armored Vehicle Market Set to Make Rapid Strides in 2020-2027

iCrowd Newswire - Sep 11, 2020

The Armored Vehicle market research in this report provided by Global Market Monitor includes historical and forecast market data, consumer demand, application segmentation details, and price trends. This report also provides a detailed overview and data analysis of major Armored Vehicle companies during the forecast period.

The Asia-Pacific region has a high market share. This can be attributed to the initiatives taken by Governments to strengthen their military forces to combat internal or external terrorism. In addition, various government agencies are making significant investments to develop the region’s defense sector. Countries such as India, South Korea and China are investing in the purchase and development of advanced armored vehicles. For instance, in February 2018, South Korea announced its decision to establish a research center to develop navigation algorithms for unmanned armored vehicles and AI-based smart object recognition and tracking technologies. Manufacturers in Asia Pacific are also investing heavily in R&D activities to develop advanced and hybrid armored vehicles to enhance maritime and border patrols. Moreover, increasing military spending and growing demand for medium and light armored vehicles for patrol operations are expected to drive regional growth in the coming years. Multilateral cooperation between countries such as North Atlantic Treaty Organization (NATO) and African Union to combat terrorism and maintain peace is also expected to boost the market growth. Increasing communal unrest and organized crime in regions such as the Middle East and Africa and Asia Pacific are expected to increase the market demand.

An armored vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities.

Increasing transnational criminal activities and terrorism have triggered asymmetric warfare between different countries across the globe, which is expected to further increase product demand. The market has witnessed considerable growth owing to increasing focus on protecting soldiers from internal and external threats. Rising awareness about commercial security is also expected to drive the demand for various armoured vehicles. The market is also expected to be driven by governments who have opted for the latest machines to deal with emergencies caused by insurgent and militant attacks. Increasing defense budgets, especially in Asia Pacific, is expected to boost the market growth. Development of light, rugged, efficient, and compact armored vehicles suitable for defense business is expected to further drive the market growth.

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Market Player
Key players profiled in the global Armored Vehicle market are:
Textron, Inc.
BAE Systems
Armour Group
General Dynamics
STAT Industry
General Dynamics Corporation
Lockheed Martin
Thales Group
Elbit Systems

Application Segmentation
Military Use
Police Use
Civil Use

Segmentation on the Basis of Type:
Wheeled Armored Vehicles
Tracked Armored Vehicles

Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Armored Vehicle Market

2 Market Trends and Competitive Landscape
3 Segmentation of Armored Vehicle Market by Types
4 Segmentation of Armored Vehicle Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Armored Vehicle Market in Major Countries
7 North America Armored Vehicle Landscape Analysis
8 Europe Armored Vehicle Landscape Analysis
9 Asia Pacific Armored Vehicle Landscape Analysis
10 Latin America, Middle East & Africa Armored Vehicle Landscape Analysis
11 Major Players Profile

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Armored Vehicle Market: Region Outlook
North America (U.S., Canada, Mexico)
Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe)
Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries)

In-depth Armored Vehicle Market Report: Intended Audience
Armored Vehicle manufacturers
Downstream vendors and end-users
Traders, distributors, and resellers of Armored Vehicle
Armored Vehicle industry associations and research organizations
Product managers, Armored Vehicle industry administrator, C-level executives of the industries
Market Research and consulting firms

Key questions answered in the report
What will the market size and growth rate be in 2026?
What segment or region will drive or lead market growth and what are the reasons?
How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
What key strategies are used by top vendors to increase revenue?

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