Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the armoured vehicle market provides an in-depth analysis
of segments and sub-segments in the global as well as regional armoured vehicle
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional armoured vehicle market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global armoured vehicle market. According
to the report, the global armoured vehicle market is projected to grow at a
CAGR of 4.5% over the forecast period of 2020-2026.
An armoured vehicle is used by
militaries, paramilitaries, private security agencies, big corporate houses,
and others across the globe for different roles. Their armor up-gradation and
customization offers the end-user superior protection according to their needs
coupled with high mobility both on-road and off-road. Due to the use of
ever-evolving artificial intelligence and other disruptive technologies.
Armoured vehicles are becoming formidable transport systems in these vulnerable
times. Their use provides the flexibility of gathering reconnaissance, safe
medical evacuation, combat support, command and control on the battlefield,
safe bomb and mine disposal, VIP and troop transport, and others.
The armoured vehicle market
although immune to international shocks felt the heat of the COVID-19 pandemic.
The nationwide lockdowns implemented by governments to combat the COVID-19
pandemic resulted in halting production. This leads to delayed deliveries to
customers, disruption in supply chains causing shortage and problems in procurement
of critical components. The lifting of lockdown is resulting in ramping up of
production activities. The normalization of supply chains, faster recovery of
economies, the increasing security challenges and threats are leading to growth
in demand. The resuming of big events such as defense expos and military
exercises are providing opportunities for business development activities. The
industry growth is driven by technological advancements such as modular and
composite armor materials. Their use makes the vehicle lighter and reduces the
cost. The Integration of artificial intelligence-based unmanned combat driving
solutions makes the handling of the vehicle convenient. Cost-effective weapons
package caters to the weapons need of the user. The increased demand by
militaries, law enforcement forces due to changing geopolitical situations and
law enforcement conditions, increasing insurgency, challenging law enforcement
conditions, terrorism activities, and others also drives the market. The demand
for vehicles such as bulletproof vehicles for use is also rising among
civilians due to danger emanating from widespread crimes. A diverse and large
portfolio of products with close alternatives catering to the needs of the
consumer are also steering the market. Increasing protectionism by the
governments is acting as a restraint and hampering the growth of the market.
Increasing military expenditure from the developed and developing countries and
large scale modernization being carried out by the militaries and other
security agencies all over the globe is opening up new opportunities for the
market.
Europe was the top
revenue-generating region geographically for the armoured vehicles market
followed by Asia-Pacific and North America. Europe is set to be overtaken by
the Asia-Pacific region as a top revenue-generating region, as countries such
as India and China are increasing their military spending heavily on the
modernization of their militaries with advanced armoured vehicles. The entry of
global manufacturers, localization and indigenization of manufacturing and
other technologies, increasing terrorism threats, the arms race for regional
dominance, the militarization of law enforcement forces is expected to increase
the demand in the Asia Pacific region thus propelling the market.
The report on the global armoured
vehicle market covers segments such as application, type, platform, and mode of
driving. On the basis of application, the sub-markets include defense, and
commercial. On the basis of type, the sub-markets include wheeled, and tracked.
On the basis of platform, the sub-markets include infantry fighting vehicle,
main batlle tank, armoured personnel carrier, tactical truck, armoured support
vehicle, and others. On the basis of mode of driving, the sub-markets include
manned, and unmanned.
The report provides profiles of
the companies in the market such as Oshkosh Defense, LLC, BAE Systems,
Rheinmetall AG, General Dynamics Corporation, Hyundai Rotem, China North
Industries Corporation, Nexter Systems, UralVagonZavod, Textron Inc, and Lockheed
Martin Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of armoured vehicle market. Moreover, the study highlights current
market trends and provides forecast from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.