DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Armored Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
Industry OutlookArmored vehicles can be defined as the combat or non-combat vehicles which are fitted with additional armor plating in order to provide protection from projectiles, bullets, grenades, shell fragments and mines among others. These vehicles are capable of facing live combat situations with little or no threat to the occupants of the vehicles.
Such vehicles are either equipped with guns with heavy caliber or are used for transportation of military personnel. Consequently, armored vehicles hold equal importance in combat as well as transportation applications and hence, the demand for such vehicles is experiencing a consistent surge.Wheeled Armored Vehicles are Rolling Away with Major Share Against Tracked Armored VehiclesArmored vehicles are majorly classified into two major categories based on their locomotive capability into tracked armored vehicles and wheeled armored vehicles. Tracked armored vehicles generally comprise of heavily armored tanks and personnel carriers and their application are quite limited to defense and border security.
On the other hand, wheeled armored vehicles have expanded there are of application beyond conventional war equipment are extensively used for homeland security and commercial applications. A major price and volume difference between the two variants helped wheeled armored vehicles to dominate the global armored vehicles market.Defense Application Dominated but Homeland Security ProliferatedArmored vehicles witnessed a massive growth for homeland security in the past few years. Governments across the globe are equipping their homeland security forces including police and task forces with reliable armored vehicles. These vehicles proved instrumental time and time again in fights against anti-social elements and mob riots. Growth of armored vehicles for commercial applications is also evident due to the growth in private security services and bank owned security arrangements. However, defense is still the major consumers of armored vehicles and expected to retain its supremacy over the market throughout the forecast period from 2021 to 2030.North America Crowned as the Undisputed leader of Global Armored Vehicles MarketExaggerated spending on the overall defense budget in United States helped the growth of armored vehicles in the North American region. The U.S. is expected to boost its defense budget by US$ 1 Tn in coming years. Armored vehicles are one of the major components frequently procured by the country in order to safeguard its personnel in defense and homeland security. Asia Pacific trails North America in terms of market value in the overall armored vehicles market. Heavy territorial conflicts among the Southeast Asian countries and proliferation of terrorist activities certainly encouraged the demand for armored vehicles in this region. Other regions including Europe and Rest of the World are also contributing recognizable share in the global armored vehicles market.Market SegmentationProduct
Armored Personal Carriers (APC)
Infantry Fighting Vehicle (IFV)
Light Protected Vehicles (LPV)
Mine-Resistant Ambush Protected
Bus & Vans
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Armored Vehicles market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Armored Vehicles market?
Which is the largest regional market for Armored Vehicles market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Armored Vehicles market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Armored Vehicles market worldwide?
Key Topics Covered: 1. Preface2. Executive Summary3. Armored Vehicles Market: Competitive Analysis4. Armored Vehicles Market: Macro Analysis & Market Dynamics
5. Armored Vehicles Market: By Product, 2020-2030, USD (Million)6. Armored Vehicles Market: By Mobility, 2020-2030, USD (Million)7. Armored Vehicles Market: By Application, 2020-2030, USD (Million)8. North America Armored Vehicles Market, 2020-2030, USD (Million)9. UK and European Union Armored Vehicles Market, 2020-2030, USD (Million)10. Asia Pacific Armored Vehicles Market, 2020-2030, USD (Million)11. Latin America Armored Vehicles Market, 2020-2030, USD (Million)12. Middle East and Africa Armored Vehicles Market, 2020-2030, USD (Million)13. Company ProfileCompanies Mentioned
General Dynamics Corporation
Ford Motor Company
Lockheed Martin Corporation
Krauss-Maffei Wegmann GmbH & Co. (KMW)
INKAS Armored Vehicle Manufacturing
Oshkosh Defense LLC
International Armored Group
Lenco Industries, Inc.
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