An armored vehicle is an armed combat vehicle that is fitted with armor plating for protection against bullets, shell fragments, and other projectiles. The vehicle is protected by armour, which is a combination of operational mobility with defensive capabilities. The armored vehicle can be a car, truck, battle tanks, and aircrafts which is armored with self-propelled guns. The global market for armored vehicles has been segmented on the basis of platform, mobility, system, and by geographical region.

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The strong demand for armored vehicles derived from the increasing number of cross-border conflicts and growing incidences of asymmetric warfare worldwide are the key factors propelling the growth of the market during the forecast period. The rising emphasis on protecting solider from internal and external threats, followed by the emerging awareness about commercial security is encouraging the defense and military sector to opt for armored vehicles. The government is proactively expanding the usage of advanced machinery to tackle emergencies caused by militant attacks, and insurgencies. This expansion will have a positive impact on the market in the coming years.

With the growing terrorism and cross-border conflicts at the global level is creating immense growth opportunities for the market. The governments are heavily investing in their defense sector and are launching numerous military modernization plans, which will indirectly generate new demand for the global armored vehicles market. On the other end of the spectrum, the lack of major OEMs in the Asia-pacific and Middle East region and the increasing incidences of electrical or other failures in the vehicles is one of the major factor that will hamper the market growth over the forecast period.

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Based on the Platform, the Combat Vehicle segment is expected to grow at a higher CAGR during the forecast period attributed to the accelerated adoption of combat vehicles for Armored Personnel Carriers (APCs) and Light Armored Vehicles (LAVs) at the global level.

Based on the System, the Armaments segment is projected to grow at a higher CAGR during the forecast period due to the rising demand for anti-tank guided-missile (ATGM) launchers, remote weapon station, and other systems worldwide.

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On the basis of the region, Asia-Pacific is projected to grow at a higher CAGR in the global Armored Vehicles market during the forecast period attributed to the increased spending on defense operation by developing economies, and the significant rise in the terrorism activates in this region. Increasing defense budgets in Asian countries, especially China and India and the accelerated adoption of advanced armored vehicles for their military operation will further strengthen the market growth.

The major key players in the market include BAE Systems PLC, Oshkosh Corporation, Otokar Otomotive Ve Savunma Sanayi, Textron Inc., Krauss-Maffei Wegmann, Denel SOC Ltd., FNSS Savunma Sistemleri AS, Hanwha Corporation, General Dynamics Corporation, Rheinmetall AG, Arquus, among others.

Key Development:

• • In Feb 2019, BAE Systems entered into USD 148.3 million contract from U.S. Army for M88A2 HERCULES armored recovery vehicles. BEA systems will upgrade 43 M88A1 heavy-lift vehicles for added ability to vacant damaged or stranded combat vehicles from the battlefield.
  • In Aug 2018, Rheinmetall entered into USD 2.7 billion contract to supply Australia with 211 Boxer wheeled armored vehicles.

The Global Armored Vehicles market has been segmented based on the Platform, Mobility, System and region. Based on Platform, the market is segmented into Combat Vehicles, Combat Support Vehicles, and Unmanned Armored Ground Vehicles. Combat vehicles is further segmented into Main Battle Tanks (MBTs), Infantry Fighting Vehicles (IFVs), Armored Personnel Carriers (APCs), Armored Amphibious Vehicles (AAVs), Mine-Resistant Ambush Protected (MRAP), Light Armored Vehicles (LAVs), Self-Propelled Howitzers (SPHS), Air Defense Vehicles, and Armored Mortar Carriers. Combat Support Vehicles is further segmented into Armored Supply Trucks, Armored Command and Control Vehicles, Repair and Recovery Vehicles, and Others. Armored Supply Trucks is further segmented into Armored Fuel Trucks, Armored Ammunition Replenishment Vehicles, and Armored Ambulances. Based on Mobility, the market is segmented into Wheeled, and Tracked. Wheeled is further is segmented into 4×4, 6×6, 8×8, and Others. Based on System, the market is segmented into Engines, Drive Systems, Ballistic Armor, Turret Drives, Ammunition Handling Systems, Fire Control Systems (FCS), Armaments, Countermeasure Systems, Command & Control (C2) Systems, Power Systems, Navigation Systems, Observation & Display Systems, and Hulls/Frames. Engines is further segmented into Diesel Engines, and Turbine Engines. Drive Systems is further segmented into Power Transmission Drives, Suspension & Braking Systems, and Tracks and Wheels. Ballistic Armor is further segmented into Composite Armor, Explosive Reactive Armor (ERA), Electric Armor, Homogenous Armor, Depleted Uranium Armor, Add-On Armor, and Others.

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Key questions answered in this research report:

• • At what pace is the global Armored Vehicles market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Armored Vehicles market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Armored Vehicles market?
  • What are the various Systems of the global Armored Vehicles market and how are they poised to grow?
  • Which platform generated maximum revenues in 2019 and identify the most promising platform during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Platform, By Mobility, By System, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	BAE Systems PLC, Oshkosh Corporation, Otokar Otomotive Ve Savunma Sanayi, Textron Inc., Krauss-Maffei Wegmann, among others, a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Armored Vehicles Market by Platform    

• • Combat Vehicles
    • Main Battle Tanks (MBTs)
    • Infantry Fighting Vehicles (IFVs)
    • Armored Personnel Carriers (APCs)
    • Armored Amphibious Vehicles (AAVs)
    • Mine-Resistant Ambush Protected (MRAP)
    • Light Armored Vehicles (LAVs)
    • Self-Propelled Howitzers (SPHS)
    • Air Defense Vehicles
    • Armored Mortar Carriers
  • Combat Support Vehicles
    • Armored Supply Trucks
      • Armored Fuel Trucks
      • Armored Ammunition Replenishment Vehicles
      • Armored Ambulances
    • Armored Command and Control Vehicles
    • Repair and Recovery Vehicles
    • Others
  • Unmanned Armored Ground Vehicles

Global Armored Vehicles Market by Mobility     

• • Wheeled
    • 4×4
    • 6×6
    • 8×8
    • Others
  • Tracked

Global Armored Vehicles Market by System         

• • Engines
    • Diesel Engines
    • Turbine Engines
  • Drive Systems
    • Power Transmission Drives
    • Suspension & Braking Systems
    • Tracks and Wheels
  • Ballistic Armor
    • Composite Armor
    • Explosive Reactive Armor (ERA)
    • Electric Armor
    • Homogenous Armor
    • Depleted Uranium Armor
    • Add-On Armor
    • Others
  • Turret Drives
  • Ammunition Handling Systems
  • Fire Control Systems (FCS)
  • Armaments
  • Countermeasure Systems
  • Command & Control (C2) Systems
  • Power Systems
  • Navigation Systems
  • Observation & Display Systems
  • Hulls/Frames

Global Armored Vehicles Market by Region

• • North America Armored Vehicles Market (Option 1: As a part of the free 25% customization)
    • North America Market by Platform
    • North America Market by Mobility
    • North America Market by System
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Armored Vehicles Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Platform
    • Europe Market by Mobility
    • Europe Market by System
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Armored Vehicles Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Platform
    • Asia-Pacific Market by Mobility
    • Asia-Pacific Market by System
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Armored Vehicles Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Platform
    • RoW Market by Mobility
    • RoW Market by System
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Armored Vehicles (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BAE Systems PLC
  • Oshkosh Corporation
  • Otokar Otomotive Ve Savunma Sanayi
  • Textron Inc.
  • Krauss-Maffei Wegmann
  • Denel SOC Ltd.
  • FNSS Savunma Sistemleri AS
  • Hanwha Corporation
  • General Dynamics Corporation
  • Rheinmetall AG
  • Arquus