MEA 8X8 Armored Vehicle Market Growth, Top Manufacturer Analysis and Forecast to 2025

Posted on 2020-10-13 by researchinsights in Aerospace, Defense // 0 Comments

Felton, Calif., USA, Oct. 13, 2020 — /EPR Network/ —

The MEA 8X8 Armored Vehicle Market size is projected to account for USD 1.09 billion by 2025, as per a new report by Million Insights. The market is estimated to witness a CAGR of over 5.5% from 2019 to 2025. Increasing expenditure by MEA countries on securing their solders and controlling riot-like situations are attributing to the growth of the market. Rising focus on strengthening military capabilities to counter any unforeseen activity is further driving the market growth.

Governments in MEA regions are investing significantly in strengthening their solders to counter any type of threats and respond proactively to emergency situations. Thus, armed forces are aggressively opting for the latest equipment including infantry fighting and armored vehicles. This factor is predicted to bode well for the growth of the market over the next few years.

Access MEA 8X8 Armored Vehicle Market Report with TOC @ https://www.millioninsights.com/industry-reports/middle-east-africa-8×8-armored-vehicle-market

The rise in cases of insurgencies in the Middle East & Africa has promoted government bodies to strengthen their military capabilities by procuring 8X8 armored vehicles. The demand for sedans, SUVs and light armored vehicles are also gaining traction among banks, high-profile persons and embassies. The 8X8 vehicles are capable of protecting the occupants in case of any communal clash and terrorism activities, thereby strengthening military prowess.

Moreover, market players have started offering tailored made armored vehicles to end-users. Further, some manufacturers are offering aesthetically appealing and customized vehicles for commercial purpose as well. Technological advancements have led to the use of galvanized steel, composite materials, ceramics and aluminum to make the vehicles corrosion resistance.

However, the high cost involved in the procurement of 8X8 armored vehicles is adversely affecting its growth. Some countries are finding it tough to procure these vehicles owing to budget constraints, as they will have to allocate the significant part of their national budget on defense.

MEA 8X8 Armored Vehicle Product Outlook (Revenue, USD Million, 2014 – 2025)

Armored Personnel Carrier (APC)
Infantry Fighting Vehicle (IFV)
Light Protected Vehicle (LPV)
Main Battle Tank (MBT)
Mine-Resistant Ambush Protected (MRAP) Vehicle
Tactical Vehicle
Others

MEA 8X8 Armored Vehicle Application Outlook (Revenue, USD Million, 2014 – 2025)

Defense
Homeland Security
Commercial

Request a Sample Copy of MEA 8X8 Armored Vehicle Market Report @ https://www.millioninsights.com/industry-reports/middle-east-africa-8×8-armored-vehicle-market/request-sample

Further key findings from the report suggest:

MBT segment is growing with the highest rate over the forecast duration owing to its strength and enhanced level of security. The segment is predicted to ascend at a CAGR of over 6% from 2019 to 2025.
MEA countries are also emphasizing on protecting high profile individuals and foreign delegates, thereby, driving the market growth.
Saudi Arabia is projected to account for USD 344.2 million by the end of 2025.
Major industry participants are STAT Inc., Iveco, BAE Systems, Oshkosh Defense and General Dynamics among others.

Visit Our Blog: https://marketreportsassistance.wordpress.com

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Matched content

Editor’s pick