The global armoured vehiclesmarket is expected to grow from USD 16.93 billion in 2019 to USD26.37 billion by 2027, at a CAGR of 5.7% during the forecast period 2020-2027.
Armored vehicles are protected by the armour and are generally used to transport the armed securities. It has the tactical offensive capability, operational mobility, and is defensive. These vehicles were initially used only in the military applications for transporting the equipment, but gradually, these vehicles are also used for commercial applications. The growing demand for armored vehicles in the defense sector for security purposes is the primary reason for the market growth.
This study delivers a comprehensive analysis of product type, system, mobility, application, and regions. The product type segment includes defense armored vehicles and commercial armored vehicles. The defense armored vehicles include personnel carrier, light protected vehicles, infantry fighting vehicles, main battle tanks, and others. The commercial armored vehicle includes limousine, vans, bus, sedan, SUV, and others. Among the two, the defensearmored vehicles holds a significant market share. The growing military needs and increasing security concerns have contributed to market growth. The system segment includes drive systems, ballistic armor, fire control systems, armaments, C2 systems, navigation systems, and others. Out of these, the armaments constitute major market shares. The increasing market growth is due to an increase in demand for remote weapon stations. The mobility segment includes wheeled and tracked. The tracked segment is majorly used in the applications. The tracked vehicles help to operate in challenging terrains. Thus, the majority of the vehicles need tracks to move even into steep terrain. The application segment includes defense and commercial. The defense application is the dominant segment. The growing concern for the soldier's life, increasing threat to security, and growing riots have resulted in higher demand for armored vehicles in the defense sector.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is the dominant region in terms of market share. The presence of efficient manufacturers and advanced technology are the primary reason for the market growth.
Some of the notable players in the armored vehicles market are Elbit Systems, Ford Motor Company, General Dynamics Corporation, Lockheed Martin Corporation, Krauss-Maffei Wegmann GmbH & Co., BAE Systems, Daimler AG, BMW AG, INKAS Armored Vehicle Manufacturing, Rheinmetall AG, International Armored Group, Navistar Inc., Thales Group, IVECO, Oshkosh Defense, Lenco Industries Inc., Textron Inc., STAT Inc., and others.
This study forecasts revenue growth at global, regional, and country levels from 2020 to 2027. Fior Markets has segmented the market based on below-mentioned segments:
Global Armored Vehicles Market Analysis And Forecast, By Product Type
Global Armored Vehicles Market Analysis And Forecast, By System
Global Armored Vehicles Market Analysis And Forecast, By Mobility
Global Armored Vehicles Market Analysis And Forecast, By Application
Global Armored Vehicles Market Analysis And Forecast, By Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Product Type
4.3.2. Market Attractiveness Analysis By System
4.3.3. Market Attractiveness Analysis By Mobility
4.3.4. Market Attractiveness Analysis By Application
4.3.5. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing security concerns
5.2.2. Increasing technological developments
5.3. Restrains
5.3.1. Limited production in certain regions
5.4. Opportunities
5.4.1. Increasing defense budget
5.4.2. Favourable government initiatives
5.5. Challenges
5.5.1. High cost of deployment
6. Global Armored Vehicles Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Defense Armored Vehicles
6.2.1. Personnel Carrier
6.2.2. Light Protected Vehicles
6.2.3. Infantry Fighting Vehicles
6.2.4. Main Battle Tanks
6.2.5. Others
6.3. Commercial Armored Vehicles
6.3.1. Limousine
6.3.2. Vans
6.3.3. Bus
6.3.4. Sedan
6.3.5. SUV
6.3.6. Others
7. Global Armored Vehicles Market Analysis and Forecast, By System
7.1. Segment Overview
7.2. Drive Systems
7.3. Ballistic Armor
7.4. Fire Control Systems
7.5. Armaments
7.6. C2 Systems
7.7. Navigation System
7.8. Others
8. Global Armored Vehicles Market Analysis and Forecast, By Mobility
8.1. Segment Overview
8.2. Wheeled
8.3. Tracked
9. Global Armored Vehicles Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Defense
9.3. Commercial
10. Global Armored Vehicles Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Armored Vehicles Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in Global Armored Vehicles Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. System Launches and Developments
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. ElbitSystems
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Ford Motor Company
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. General Dynamics Corporation
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Lockheed Martin Corporation
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Krauss-MaffeiWegmann GmbH & Co.
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. BAE Systems
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Daimler AG
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. BMW AG
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Rheinmetall AG
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Navistar Inc.
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
12.11. Thales Group
12.11.1. Business Overview
12.11.2. Company Snapshot
12.11.3. Company Market Share Analysis
12.11.4. Company Product Portfolio
12.11.5. Recent Developments
12.11.6. SWOT Analysis
12.12. IVECO
12.12.1. Business Overview
12.12.2. Company Snapshot
12.12.3. Company Market Share Analysis
12.12.4. Company Product Portfolio
12.12.5. Recent Developments
12.12.6. SWOT Analysis
12.13. International Armored Group
12.13.1. Business Overview
12.13.2. Company Snapshot
12.13.3. Company Market Share Analysis
12.13.4. Company Product Portfolio
12.13.5. Recent Developments
12.13.6. SWOT Analysis
12.14. Oshkosh Defense LLC
12.14.1. Business Overview
12.14.2. Company Snapshot
12.14.3. Company Market Share Analysis
12.14.4. Company Product Portfolio
12.14.5. Recent Developments
12.14.6. SWOT Analysis
12.15. Lenco Industries Inc.
12.15.1. Business Overview
12.15.2. Company Snapshot
12.15.3. Company Market Share Analysis
12.15.4. Company Product Portfolio
12.15.5. Recent Developments
12.15.6. SWOT Analysis
List of Table
1. Global Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
2. Global Defense Armored Vehicles, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
3. Global Commercial Armored Vehicles, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
4. Global Armored Vehicles Market, By System, 2019-2027 (USD Billion)(Units)
5. Global Drive Systems, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
6. GlobalBallistic Armor, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
7. Global Fire Control Systems, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
8. Global Armaments, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
9. Global C2 Systems, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
10. Global Navigation System, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
11. GlobalOthers, Armored Vehicles Market, By Region, 2019-2027 (USD Billion) (Units)
12. Global Armored Vehicles Market, By Mobility, 2019-2027 (USD Billion) (Units)
13. GlobalWheeled, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
14. Global Tracked, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
15. Global Armored Vehicles Market, By Application, 2019-2027 (USD Billion) (Units)
16. GlobalDefense, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
17. GlobalCommercial, Armored Vehicles Market, By Region, 2019-2027(USD Billion) (Units)
18. North America Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
19. North America Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
20. North America Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
21. North America Armored Vehicles Market, By Application2019-2027(USD Billion) (Units)
22. U.S. Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
23. U.S. Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
24. U.S. Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
25. U.S. Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
26. Canada Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
27. Canada Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
28. Canada Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
29. Canada Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
30. Mexico Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
31. Mexico Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
32. Mexico Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
33. Mexico Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
34. Europe Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
35. Europe Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
36. Europe Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
37. Europe Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
38. Germany Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
39. Germany Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
40. Germany Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
41. Germany Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
42. France Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
43. France Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
44. France Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
45. France Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
46. U.K. Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
47. U.K. Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
48. U.K. Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
49. U.K. Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
50. Italy Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
51. Italy Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
52. Italy Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
53. Italy Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
54. Spain Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
55. Spain Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
56. Spain Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
57. Spain Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
58. Asia Pacific Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
59. Asia Pacific Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
60. Asia Pacific Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
61. Asia Pacific Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
62. Japan Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
63. Japan Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
64. JapanArmored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
65. JapanArmored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
66. China Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
67. China Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
68. China Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
69. China Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
70. India Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
71. India Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
72. India Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
73. India Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
74. South America Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
75. South America Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
76. South America Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
77. South America Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
78. Brazil Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
79. Brazil Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
80. Brazil Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
81. Brazil Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
82. Middle East and Africa Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
83. Middle East and Africa Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
84. Middle East and Africa Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
85. Middle East and Africa Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
86. UAE Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
87. UAE Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
88. UAE Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
89. UAE Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
90. South Africa Armored Vehicles Market, By Product Type, 2019-2027 (USD Billion) (Units)
91. South Africa Armored Vehicles Market, By System, 2019-2027(USD Billion) (Units)
92. South Africa Armored Vehicles Market, By Mobility, 2019-2027(USD Billion) (Units)
93. South Africa Armored Vehicles Market, By Application, 2019-2027(USD Billion) (Units)
List of Figures
1. Global Armored Vehicles Market Segmentation
2. Global Armored Vehicles Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Armored Vehicles Market Attractiveness Analysis By Product Type
9. Global Armored Vehicles Market Attractiveness Analysis By System
10. Global Armored Vehicles Market Attractiveness Analysis By Mobility
11. Global Armored Vehicles Market Attractiveness Analysis By Application
12. Global Armored Vehicles Market Attractiveness Analysis By Region
13. Global Armored Vehicles Market: Dynamics
14. Global Armored Vehicles Market Share by Product Type (2020 & 2027)
15. Global Armored Vehicles Market Share by System (2020 & 2027)
16. Global Armored Vehicles Market Share by Mobility (2020 & 2027)
17. Global Armored Vehicles Market Share by Application (2020 & 2027)
18. Global Armored Vehicles Market Share by Regions (2020 & 2027)
19. Global Armored Vehicles Market Share by Company (2019)
Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.
Market research is valuable because of the following reasons:
Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.
Our market research process involves with the four specific stages.
Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:
Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:
Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.
This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.
Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.
Free Customization
Countries can be added on demand
Free yearly update on purchase of Multi/Corporate User License
Companies served till date
We serve our customers 24x7 for 365 days through calls, emails and live chat options.
Huge database of exceptional market reports bringing market intelligence to your fingertips.
SSL enabled, we offer you various secured payment options for risk free purchase.