Armored Vehicle Market Revenue Drivers, Competitive Landscape, Future Plans and Trends, 2025

Felton, Calif., USA, Nov. 03, 2020 — /EPR Network/ —

The global Armored Vehicle Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global armored vehicle market size is projected to touch USD 36.4 billion by 2025, as per a new report by Million Insights. The market is anticipated to expand at 5.4% CAGR from 2019 to 2025. The rise in insurgencies and terrorism activities across the world is driving the demand for armored vehicles.

Key Players:

• BAE Systems
• Elbit Systems Ltd.
• General Dynamics Corporation
• INKAS Armored Vehicle Manufacturing
• International Armored Group
• Iveco
• Krauss-MaffeiWegmann GmbH & Co.
• Lenco Industries, Inc.
• Lockheed Martin Corporation
• Navistar, Inc.
• Oshkosh Defense, LLC
• Rheinmetall AG 

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/armored-vehicle-market/request-sample

Growth Drivers:

Armored vehicles have layers of stainless steel and depleted uranium and are equipped with a weapon that has operation mobility ability, tactical offensive and combine defensive capabilities. Further, the use of artificial intelligence-based object tracking features is anticipated to boost the market growth.

Government expenditure on safeguarding military personnel has increased considerably in the past few years. This has resulted in procuring advanced armored vehicles that are lightweight and fuel-efficient. Considering the growing demand for advanced vehicles, companies are also strengthening their manufacturing capabilities. For example, BAE Systems, in 2018, developed an Armored Multi-Purpose Vehicle (AMPV) that has mine roller systems. This vehicle helps protect against explosive devices.

Product Outlook: 

• Defense Armored Vehicle
  • Armored Personnel Carrier (APC)
  • Infantry Fighting Vehicles (IFV)
  • Light Protected Vehicles (LPV)
  • Main Battle Tanks (MBT)
  • Mine-resistant Ambush Protected (MRAP)
  • Tactical Vehicle
• Commercial Armored Vehicle
  • Bus/Van
  • Limousine
  • Sedan
  • SUV

Regional Insights: 

In 2018, Asia Pacific accounted for the highest share in the revenue by generating USD 7.9 billion. Growing spending by governments in consolidating their military power amid increasing external and internal threats is attributing to the growth of the region.

Major countries in Asia Pacific such as South Korea, China and India are making significant investments in procuring state-of-art armored vehicles. For example, South Korea, in 2018, decided to set up a research establishment to strengthen its military prowess by procuring advanced armored vehicles.

Key market players are also investing hugely in Asia Pacific to develop hybrid vehicles for border patrolling and maritime activities. Further, increasing demand for medium and lightweight armored vehicles is estimated to bolster regional demand.

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