Armored Vehicles Market 2019-2029

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The key trends in The Global Armored Vehicle market 2019-2029  are the introduction of lightweight armor and that of Active Protection Systems (APS). Some of the key segments for this market include Region, Systems, and Type. The Table of Content would give the readers a perspective of the coverage of the Global Armored Market Report 2019-2029.

Description

Armored vehicles are land platforms that are protected by armor against incoming projectiles like missiles, bullets, debris, and other projectiles and weapon systems. These vehicles have both invasive and defensive functions. For example, the main battle tank (MBT) is equipped with the main armor gun and one or more machine guns intended for attack or intrusion, and the vehicle is protected from enemy attacks by armor. Due to the frequent occurrence of cross-border conflicts and asymmetric warfare around the world, the demand for armored vehicles is increasing. Innovation in verticals like electronics, weapons, automotive, and materials science are expected to accelerate the growth of the military bulletproof vehicle market. The global armored vehicle market is estimated to be USD 15.8 billion in 2020 and is projected to reach USD 25.94 billion by 2025, with a CAGR of 5.39% during the forecast period. The market is segmented into regions, types, and systems. Based on the types the market includes combat vehicles, combat support vehicles, unmanned armored ground vehicles. Based on systems the market includes are engines, propulsion systems, ballistic armor, turret drives, and ammunition processing systems.

Increasing cross-border conflicts: A rise in cross-border conflicts is leading to increased demand in the armored vehicle industry. In recent years, conflicts, terrorist activities, and wars have increased worldwide. There has been an increase in violence in countries such as Syria and Iraq, increased cross-border activity, and the fight against rebellions between Asian countries and other regions. Several countries around the world are modernizing their existing defense systems. Developing countries around the world are focusing on strengthening and protecting defense systems with advanced light defense vehicles (LPVs), main battle tanks (MBTs), infantry fighting vehicles (IFVs), and more. These factors drive market growth over the forecast period.

The high probability of failure of the electrical and mechanical components: Armored vehicles are susceptible to mechanical stress caused by movement on uneven terrain. These vehicles often face mechanical failures in terms of their engine and transmission systems due to their high-speed operating systems. Therefore, these vehicles are subject to component failures, component jams, power outages, etc. These failures are difficult for rescue and recovery teams to repair and can serve as serious disadvantages during battlefield operations. In addition, identifying defective components can lead to the malfunction of armored vehicles. Therefore, manufacturers are developing new and innovative designs to reduce and fix the above defects in armored vehicles.

Increased use of active protection systems (APS) is recognized as a major market trend. Active protection systems automatically detect incoming threat projectiles and counteract them before reaching the target. APS uses launchers, tracking radar, sensors, and counter-measure ammunition to protect combat vehicles from grenade attacks and anti-tank guided missiles. General Dynamics Ordnance and Tactical Systems, Raytheon Company, Leonardo DRS, and others are the major players developing APS.

In October 2019, Israel’s RAFAEL Advanced Defense Systems and Leonardo DRS provided the United States Army with the first active trophy protection system for tanks and armored fighting vehicles. The trophy is a popularly acclaimed completely integrated, combat-proven APS. The trophy has a high network awareness which enables it to identify and report the adversary’s location.  This trend is predicted to accelerate market growth.

Key players are emphasizing collaborating with companies engaged in the manufacturing of advanced systems and components. It is to provide their products with cutting-edge technologies for better combat capabilities. Major armored vehicle manufacturers rely on research and development. They are spending on active protection systems, AI-based intelligent object detection and tracking technologies, navigation algorithms for unmanned armored vehicles.

Table of Contents

Market Definition

 

Market Segmentation

 

– By Type

– By System

– By Region

 

10 Year Market Outlook

 

The 10-year market outlook would give a detailed overview of changing dynamics, technology adoption overviews and the overall market attractiveness is covered in this chapter.

 

Market Technologies

 

This segment covers the top 10 technologies that is expected to impact this market and the possible implications these technologies would have on the overall market.

 

Global Market Forecast

 

The 10-year market forecast of this market is covered in detailed across the segments which are mentioned above.

 

Regional Market Trends & Forecast

 

The regional market trends, drivers, restraints and Challenges of this market, the Political, Economic, Social and Technology aspects are covered in this segment. The market forecast and scenario analysis across regions are also covered in detailed in this segment. The last part of the regional analysis includes profiling of the key companies, supplier landscape and company benchmarking.

 

North America

 

– Drivers, Restraints and Challenges

– PEST

– Market Forecast & Scenario Analysis

– Key Companies

– Supplier Tier Landscape

– Company Benchmarking

 

Europe

Middle East

APAC

South America

 

Country Analysis

 

This chapter deals with the key defense programs in this market, it also covers the latest news and patents which have been filed in this market. Country level 10 year market forecast and scenario analysis are also covered in this chapter.

 

US

– Defense Programs

– Latest News

– Patents

– Current levels of technology maturation in this market

– Market Forecast & Scenario Analysis

 

Canada

Italy

France

Germany

Netherlands

Belgium

Spain

Sweden

Greece

Australia

South Africa

India

China

Russia

South Korea

Japan

Malaysia

Singapore

Brazil

 

Opportunity Matrix

 

The opportunity matrix helps the readers understand the high opportunity segments in this market.

 

Expert Opinions

 

Hear from our experts their opinion of the possible outlook for this market.

 

Conclusions

 

About Aviation and Defense Market Reports

Countries Covered

US

Canada

Italy

France

Germany

Netherlands

Belgium

Spain

Sweden

Greece

Australia

South Africa

India

China

Russia

South Korea

Japan

Malaysia

Singapore

Brazil

Regions Covered

North America

South America

Europe

Middle East

Asia

Segments Covered

By Region

By System

By Type