Global Armored Vehicle Market
Global armored vehicle market by product (commercial armored vehicles, military armored vehicles), by region (North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America), outlook & forecast, 2023-2029
An armored vehicle is fitted with partial or complete armor plating for protection against bullets, shell fragments, and other projectiles. The global armored vehicle market is projected to rise by USD 6.0 billion by 2029, according to a new report by Gen Consulting Company. It is anticipated to expand at a CAGR of 3.3 percent during the forecast period. Factors such as rise in demand for armored vehicles owing to militarization of law enforcement agencies and increase in demand for bulletproof vehicles fuel the growth of the armored vehicle market.Factors such as rise in demand for armored vehicles owing to militarization of law enforcement agencies and increase in demand for bulletproof vehicles fuel the growth of the armored vehicle market.
The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global armored vehicle market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, and region. The global market for armored vehicle can be segmented by product: commercial armored vehicles, military armored vehicles. The military armored vehicles segment held the largest revenue share in 2022. Armored vehicle market is further segmented by region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Among these, Asia-Pacific was accounted for the highest revenue generator in 2022.
The military armored vehicles market is further segmented into armored infantry fighting vehicle (AIFV), armored personnel carrier (APC), light multi role vehicle (LMV), military battle tanks (MBT), mine resistant ambush protected vehicle (MRAP), tactical vehicle, others. Globally, the military battle tanks (MBT) segment made up the largest share of the armored vehicle market. Furthermore, the commercial armored vehicles market has been categorized into bus, limousine, sedan, SUV, others. The SUV segment was the largest contributor to the global armored vehicle market in 2022.
By product: commercial armored vehicles, military armored vehicles
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America
The report has also analysed the competitive landscape of the global armored vehicle market with some of the key players being AM General LLC, BAE Systems plc, China North Industries Corporation (NORINCO), Elbit Systems Ltd., General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group (IAG), IVECO S.p.A., Krauss-Maffei Wegmann GmbH & Co. KG, Lenco Armored Vehicles, Inc., Lockheed Martin Corporation, Navistar, Inc., Oshkosh Corporation, Rheinmetall AG, STREIT Group, Thales S.A., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global armored vehicle market.
• To classify and forecast the global armored vehicle market based on product, region.
• To identify drivers and challenges for the global armored vehicle market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global armored vehicle market.
• To identify and analyze the profile of leading players operating in the global armored vehicle market.
Why Choose This Report
• Gain a reliable outlook of the global armored vehicle market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.
Global Armored Vehicle Market