Innovations & Trends Within Armored Vehicles Market: What is Expected During 2023- 2028

Markntel Advisors’ report, Armored Vehicles Research Report: Industry Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Armored Vehicles presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Armored Vehicles Market Industry Research Report Market Summary:

The Global Armored Vehicles Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. The market growth is majorly carried by the rising defense expenditure of several countries as a response to the rising geopolitical tension and cross-border disputes in numerous regions, leading to increased necessity for military vehicles with bulletproof and other features. In addition, technological advancement in combat vehicles, with added features providing more safety, the scope of modification, and advanced functionality, is adding to the market’s expansion.

If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/armored-vehicles-market.html

Armored Vehicles Market Dynamics:

Key Driver-

Rising Defense Budget and Cross-Border Disputes in Numerous Countries - Increasing defense expenditure and budget in several countries with rising cross-border disputes has primarily driven the market. The prevalence of conflicts, terrorist activities, and wars worldwide requires numerous countries to strengthen their military equipment and vehicles, fueling market expansion. Likewise, growing emphasis on the sustainability of military vehicles and personnel safety through added advanced safety features with increasing humanitarian missions also adds to the market acceleration. For instance,

In April 2021, Israel’s Ministry of Defense (MOD) signed a contract with Israel Aerospace Industries (IAI) to manufacture and supply nine Z-MAG all-terrain vehicles to the Israel Defense Forces (IDF), with an option to order 21 additional units.

Armored Vehicles Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Platform

Combat Vehicles
- Main Battle Tanks
- Infantry Fighting Vehicles
- Armored Personal Carriers
- Armored Amphibious Vehicles
- Mine-Resistant Ambush Protected Vehicles
- Light Armored Vehicles
- Others (Self Propelled Howitzers, Air Defence Vehicles, etc.)
Combat Support Vehicles
- Armored Supply Trucks
- Armored Command and Control Vehicles
- Repair and Recovery Vehicles
- Others (Bridge laying Tanks, Mine Clearance Vehicles, etc.)
Unmanned Armored Ground Vehicles

Here, Combat Vehicles are expected to garner the highest market share in the forthcoming years following their high revenue contribution in the historical period.

By Platform

Combat Vehicles
- Main Battle Tanks
- Infantry Fighting Vehicles
- Armored Personal Carriers
- Armored Amphibious Vehicles
- Mine-Resistant Ambush Protected Vehicles
- Light Armored Vehicles
- Others (Self Propelled Howitzers, Air Defence Vehicles, etc.)
Combat Support Vehicles
- Armored Supply Trucks
- Armored Command and Control Vehicles
- Repair and Recovery Vehicles
- Others (Bridge laying Tanks, Mine Clearance Vehicles, etc.)
Unmanned Armored Ground Vehicles

Here, Combat Vehicles are expected to garner the highest market share in the forthcoming years following their high revenue contribution in the historical period.

By System

Engines
Turret Drives
Ammunition Handling Systems
Fire Control Systems
Armaments
Ballistic Armor
Countermeasure System
Command and Control System
Power System
Others (Navigation System, Observation and Display Systems, etc.)

Among others, Armaments acquired a significant market share in the historical period and are anticipated to follow the same flow in the forecast period, owing to the rising requirement for remote weapon stations, anti-tank guided missile (AGTM) launchers, and other armaments worldwide.

By Type

Electric
Conventional

By Mode of Operation

Manned
Unmanned

By Mobility

Wheeled
- 4X4
- 6X6
- 8X8
- Others (10X10, 12X12, etc.)
Tracked

By Sales Channel

OEM
Retrofit

By Region

North America
South America
Europe
The Middle East Africa
Asia-Pacific

Globally, North America dominated the market with the largest market share in the historical period owing to the highest military budget of the US government with ongoing modernization research programs, combined with the presence of significant defense and military equipment manufacturer companies.

As indicated in the latest market research report published by Markntel Advisors, “Armored Vehicles Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Armored Vehicles. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/armored-vehicles-market.html

Top Companies Operating in the Armored Vehicles Market:

L3Harris Technologies, Inc.
Hanwha Group
General Dynamics Corporation
Lockheed Martin Corporation
Northrop Grumman
Oshkosh Defense, LLC
BAE Systems
Thales Group
ST Engineering
Mitsubishi Heavy Industries
Textron Systems
Denel Soc Ltd
FNSS
Arquus
Iveco Defence Vehicles
Others.

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*

Key Report Highlights:

Market Dimensions Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Frequently Asked Questions (FAQs)-

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