Armored Vehicle Market Overview

Armored Vehicle Market Size is expected to reach USD 32.26 Billion by 2030, registering a CAGR of 6.35% during 2020-2030.

The Europe armored vehicle market is characterized by a dynamic landscape shaped by shifting security paradigms, geopolitical tensions, and the imperative for military modernization. With a history of regional conflicts and ongoing security challenges, European nations prioritize investments in armored vehicles to ensure deterrence, territorial defense, and expeditionary capabilities. The market witnesses a surge in demand for advanced armored platforms equipped with cutting-edge technologies such as modular armor systems, unmanned turrets, and integrated digital battlefield management systems. Additionally, European defense cooperation initiatives and multinational procurement programs drive collaboration among member states, fostering interoperability and cost-efficiency in armored vehicle development and acquisition. Furthermore, the emergence of hybrid warfare threats and the resurgence of conventional threats underscore the importance of armored vehicles in maintaining regional stability and security in Europe.

Armored vehicles are security vehicles used for transport under armed security and even by replacing standard windows with bulletproof glass motor vehicle with a high degree of security. Increasing internal & external security threats and increasing violence are driving global Armored vehicle Market. Moreover, increasing defense expenditure, especially in emerging economies and increasing popularity of rental & leasing of armored cars among civilians, support the growth of the market while the lack of regulatory standards across the globe acts as a major driver for the market. Armored vehicle market to grow in near future.

Key Players:

Armored vehicle Market key players are PLC (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), International Armored Group (US), Krauss-Maffei Wegmann GmbH & Co. (Germany), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), INKAS Armored Vehicle Manufacturing (Canada), Mitsubishi Heavy Industries Ltd (Japan), Oshkosh Corporation (US), Diehl Defence GmbH & Co. KG (Germany).

Market Segmentation:

Armored vehicle Market segmentation as per market

By System:

Ballistic Armor, Drive Systems, Engine, Ammunition Handling Systems, Armaments, Navigation Systems, Observation & Display Systems, Countermeasure Systems, Turret Drives, Hulls/ Frames, Fire Control Systems (Fcs), Power Systems, Command & Control (C2) Systems

By Product:

Ballistic Armor, Drive Systems, Engine, Ammunition Handling Systems, Armaments, Navigation Systems, Observation & Display Systems, Countermeasure Systems, Turret Drives, Hulls/ Frames, Fire Control Systems (Fcs), Power Systems, Command & Control (C2) Systems

By End User:

Commercial and Defence

Regional analysis:

Moreover, the increase in defense funds of emerging countries reflect positively on the growth of the global Armored vehicle market . Globally, North America market has emerged as the leading region in terms of value, followed by APAC and Europe. Huge defense funds and rising investment in the R&D of modern military vehicles are some of the main drivers, which help in market growth. Affluent families in Latin America equipping their vehicles with bullet-proof windows so as to keep their families safe is a new trend.

Related reports:

·         Armored Vehicle Fire Suppression Systems Market Research Report: Information by Vehicle Type (Combat Vehicles, Troop Transport Vehicles, and Others), Platform Type (Wheeled Vehicles and Tracked Vehicles), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)—Forecast till 2027

·         Ceramic Armor Materials Market: Information by Material (Boron Carbide, Silicon Carbide, Alumina, Ceramic Matrix Composite, Titanium Boride, Aluminum Nitride and others), Application (Body Armor, Aircraft Armor, Marine Armor, Vehicles Armor and others) and Region (North America, Latin America, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030

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