Articles

Armored Vehicles Market Survey, Market Size, Competitive Trends and Forecast

by Rahul Gautam Manager

Global armored vehicles market worth USD24.8 billion in 2016

As per the research, the global market for armored vehicles is likely to grow from USD24.8 billion in 2016 to USD36.6 billion by 2023. With increasing security concerns in the Asia-Pacific region and rising political disputes across the globe, the demand for armored vehicles is expected to gain traction during the forecast period. The increasing demand for light or medium-sized armored vehicles for combat operations has resulted in the widespread adoption of wheeled-type armored vehicles. This is expected to further propel the demand for armored vehicles during the forecast period.

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Military emanates the maximum demand in the global defense armored vehicles market, by application; while government is expected to dominate the global commercial armored vehicles market, by application. Infantry fighting vehicles is expected to be the largest segment in the global defense armored vehicles market, by product; while SUV is most commonly-used armored vehicle in the commercial sector.


GLOBAL ARMORED VEHICLES MARKET SEGMENTATION

By Technology

         Active mine system

         Active protection system

         Modular ballistic armor

         Situational awareness system

         Inter operable communication

         Vehicle information integration

         Electric armor

By Application

         Defense

         Commercial

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Major players have stronghold in the global armored vehicles market Some of the key players in the global armored vehicles market include General Dynamics Corporation, Lockheed Martin Corporation, BAE Systems plc, Elbit Systems Ltd., Oshkosh Corporation, Textron Inc., International Armored Group (IAG), Denel Land Systems, Rheinmetall AG, Thales Group and INKAS Armored Vehicle Manufacturing.


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About Rahul Gautam Innovator   Manager

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Joined APSense since, May 1st, 2018, From New York, United States.

Created on Jun 27th 2019 03:12. Viewed 148 times.

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