Global Armoured Vehicles Market Size, Forecasts, And Opportunities

December 10, 2021 by The Business Research Company

Learn about the global armoured vehicles market through The Business Research Company, which provides information on armoured vehicles market size, armoured vehicles market drivers and restraints, armoured vehicles market players, the COVID-19 impact on the armoured vehicles market, and more.

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The global armoured vehicles market is expected to decline from $5.69 billion in 2020 to $5.68 billion in 2021 at a compound annual growth rate (CAGR) of -0.2%. The armoured vehicles market is anticipated to record a decline in market revenues in 2021 on account of post-COVID-19 implications involving workforce shortages and operational challenges and slowdown in global manufacturing activities. The armoured vehicles market is expected to reach $6.35 billion in 2025 at a CAGR of 2.8%.

Increased military spending is expected to drive innovation in armoured vehicles manufacturing, thus driving the market during the forecast period.

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The armoured vehicles market consists of sales of armoured vehicles by entities (organizations, sole traders and partnerships) that produce armoured vehicles. The armoured fighting vehicle is a self-propelled, weaponized military vehicle used for combat operations.

Global armoured vehicles market segments include:

By Vehicle Type: Armoured Personnel Carrier, Infantry Fighting Vehicle, Main Battle Tanks, Tactical Truck, Bus, Others

By Platform: Combat Vehicles, Combat Support Vehicles, Unmanned Armoured Ground Vehicles

By System: Engine, Drive System, Ballistic Armor, Fire Control System (FCS), Armaments, Ammunition Handling System, Countermeasure System, Command And Control System, Others

By Mobility: Tracked, Wheeled, 4X4, 6X6, 8X8, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The unmanned armoured vehicle is a key trend gaining the popularity in the armoured vehicles market. The use of unmanned armoured vehicles in the defence sector is increasingly evolving and military organisations around the globe are experimenting with their use in an attempt to understand what actually such systems can bring and how they can best be incorporated into existing power structures.

TBRC’s armoured vehicles market report covers:

Major Market Players: BAE Systems, Oshkosh Corp, International Armoured Group, General Dynamics Land Systems, Textron, Rheinmetall, Lockheed Martin, Krauss-Maffei Wegmann, INKAS Armoured Vehicle, Elbit Systems.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Armoured Vehicles Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides armoured vehicles market overviews, analyses and forecasts market size, share, armoured vehicles market players, armoured vehicles market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s armoured vehicles market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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