Reports
Global Armoured Vehicle Market Analysis, Trends, Forecast: By Type: Main Battle Tanks (MBT), Mine-Resistant Ambush-Protected (MRAP), Light Protected Vehicles (LPV), Armoured Personnel Carriers (APC), Others; By Technology Used; By Mobility; By System; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Armoured Vehicle Market Outlook
The global armoured vehicle market stood at a value of nearly USD 28.6 billion in 2020. The industry is further projected to grow at a CAGR of 5.8% during the forecast period of 2024-2032.
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Due to the growing focus on protecting troops from external and internal threats, the industry has seen a significant development. It is also anticipated that the increasing awareness regarding commercial security will drive the industry growth over the forecast period for armoured vehicles.
Market Segmentation
Armoured vehicle is a fighting vehicle, generally used as a military combat vehicle, which is protected by armour. The global armoured vehicle industry can be segmented into types, technology-used, mobility, systems, and applications.
Based on type, the industry is divided into main battle tanks (MBT), mine-resistant ambush -protected (MRAP), light protected vehicles (LPV), armoured personnel carriers (APC), amphibious armoured vehicles, and unmanned ground vehicles (UGV), among others.
Based on technology used, the industry is categorised into active protection system, interoperable communication systems, modular ballistic armour system, electric armour, situational awareness, active mine protection system, and vehicle information integration.
Based on its mobility, the industry is segmented into wheeled and tracked.
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Based on the systems, the industry is segmented into:
- Engines
- Drive System
- Ballistic Armour
- Turrets Drive
- Ammunition Handling System
- Fire Control System
- Armaments
- Countermeasure Systems
- Command and Control (C2) Systems
- Power Systems
- Navigation Systems
- Observation and Display Systems
- Hulls/Frames
Based on applications, the industry is segmented into commercial organisation, government organisation, military, and others.
The EMR report looks into the regional armoured vehicle markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
Market Analysis
The global armoured vehicle market is being driven by the growing need to counter rising criminal activities and cross-border terrorism by countries’ military and security departments. The militarisation of law enforcement organisations, technological advancements in armoured cars, increase in insurgencies, and the commercial use of armoured vehicles are the primary factors driving the industry growth. The reduction in domestic defence budgets, and the increased use of un-crewed cars are the limitations for armoured vehicle market, which may hamper its growth over the forecast period.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global armoured vehicle market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Oshkosh Defense, LLC
- Textron Systems Corporation
- Denel Vehicle Systems
- Krauss-Maffei Wegmann GmbH & Co.
- FNSS Savunma Sistemleri A.?.
- General Dynamics Corporation
- BAE Systems Plc
- Rheinmetall AG
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Technology Used, Mobility, System, Application, Region |
| Breakup by Type | Main Battle Tanks (MBT), Mine-Resistant Ambush-Protected (MRAP), Light Protected Vehicles (LPV), Armoured Personnel Carriers (APC), Amphibious Armoured Vehicles, Unmanned Ground Vehicles (UGV), Others |
| Breakup by Technology Used | Active Protection Systems, Interoperable Communication Systems, Modular Ballistic Armour Systems, Electric Armour, Situational Awareness, Active Mine Protection Systems, Vehicle Information Integration |
| Breakup by Mobility | Wheeled, Tracked |
| Breakup by System | Engines, Drive System, Ballistic Armor, Turrets Drive, Ammunition Handling System, Fire Control System, Armaments, Countermeasure Systems, Command & Control (C2) Systems, Power Systems, Navigation Systems, Observation & Display Systems, Hulls/Frames |
| Breakup by Application | Commercial Organisation, Government Organisation, Military, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Oshkosh Defense, LLC, Textron Systems Corporation, Denel Vehicle Systems, Krauss-Maffei Wegmann GmbH & Co., FNSS Savunma Sistemleri A.S., General Dynamics Corporation, BAE Systems, Rheinmetall AG, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Armoured Vehicle Market Analysis
8.1 Key Industry Highlights
8.2 Global Armoured Vehicle Historical Market (2018-2023)
8.3 Global Armoured Vehicle Market Forecast (2024-2032)
8.4 Global Armoured Vehicle Market by Type
8.4.1 Main Battle Tanks (MBT)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Mine-Resistant Ambush-Protected (MRAP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Light Protected Vehicles (LPV)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Armoured Personnel Carriers (APC)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Amphibious Armoured Vehicles
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Unmanned Ground Vehicles (UGV)
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Armoured Vehicle Market by Technology Used
8.5.1 Active Protection Systems
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Interoperable Communication Systems
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Modular Ballistic Armour Systems
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Electric Armour
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Situational Awareness
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Active Mine Protection Systems
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Vehicle Information Integration
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.6 Global Armoured Vehicle Market by Mobility
8.6.1 Wheeled
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Tracked
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Armoured Vehicle Market by System
8.7.1 Engine
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Drive Systems
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Ballistic Armor
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Turrets Drive
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Ammunition Handling System
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Fire Control System
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Armaments
8.7.7.1 Historical Trend (2018-2023)
8.7.7.2 Forecast Trend (2024-2032)
8.7.8 Countermeasure Systems
8.7.8.1 Historical Trend (2018-2023)
8.7.8.2 Forecast Trend (2024-2032)
8.7.9 Command and Control (C2) Systems
8.7.9.1 Historical Trend (2018-2023)
8.7.9.2 Forecast Trend (2024-2032)
8.7.10 Power Systems
8.7.10.1 Historical Trend (2018-2023)
8.7.10.2 Forecast Trend (2024-2032)
8.7.11 Navigation Systems
8.7.11.1 Historical Trend (2018-2023)
8.7.11.2 Forecast Trend (2024-2032)
8.7.12 Observation and Display Systems
8.7.12.1 Historical Trend (2018-2023)
8.7.12.2 Forecast Trend (2024-2032)
8.7.13 Hulls/Frames
8.7.13.1 Historical Trend (2018-2023)
8.7.13.2 Forecast Trend (2024-2032)
8.8 Global Armoured Vehicle Market by Application
8.8.1 Commercial Organization
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Government Organization
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Military
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Others
8.9 Global Armoured Vehicle Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Armoured Vehicle Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Armoured Vehicle Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Armoured Vehicle Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Armoured Vehicle Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Armoured Vehicle Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Oshkosh Defense, LLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Textron Systems Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Denel Vehicle Systems
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Krauss-Maffei Wegmann GmbH and Co.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 FNSS Savunma Sistemleri A.S.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 General Dynamics Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 BAE Systems plc
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Rheinmetall AG
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Armoured Vehicle Market: Key Industry Highlights, 2018 and 2032
2. Global Armoured Vehicle Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Armoured Vehicle Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Armoured Vehicle Historical Market: Breakup by Technology Used (USD Million), 2018-2023
5. Global Armoured Vehicle Market Forecast: Breakup by Technology Used (USD Million), 2024-2032
6. Global Armoured Vehicle Historical Market: Breakup by Mobility (USD Million), 2018-2023
7. Global Armoured Vehicle Market Forecast: Breakup by Mobility (USD Million), 2024-2032
8. Global Armoured Vehicle Historical Market: Breakup by System (USD Million), 2018-2023
9. Global Armoured Vehicle Market Forecast: Breakup by System (USD Million), 2024-2032
10. Global Armoured Vehicle Historical Market: Breakup by Application (USD Million), 2018-2023
11. Global Armoured Vehicle Market Forecast: Breakup by Application (USD Million), 2024-2032
12. Global Armoured Vehicle Historical Market: Breakup by Region (USD Million), 2018-2023
13. Global Armoured Vehicle Market Forecast: Breakup by Region (USD Million), 2024-2032
14. North America Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
15. North America Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Europe Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
17. Europe Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Asia Pacific Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
19. Asia Pacific Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Latin America Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
21. Latin America Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Middle East and Africa Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
23. Middle East and Africa Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Major Exporting Countries by Value
25. Major Importing Countries by Value
26. Major Exporting Countries by Volume
27. Major Importing Countries by Volume
28. Global Armoured Vehicle Market Structure
Key Questions Answered in the Report
In 2020, the global armoured vehicle market attained a value of nearly USD 28.6 billion.
The market is estimated to grow at a CAGR of 5.8% between 2024 and 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the growing need to counter rising criminal activities, militarisation of law enforcement organisations, technological advancements in armoured cars, increase in insurgencies, increasing awareness regarding commercial security, and the commercial use of armoured vehicles.
The rising military and defence expenditure in the emerging economies and rising activities of cross-border terrorism are the key trends guiding the growth of the industry.
Main battle tanks (MBT), mine-resistant ambush-protected (MRAP), light protected vehicles (LPV), armoured personnel carriers (APC), amphibious armoured vehicles, and unmanned ground vehicles (UGV), among others are the major types of armoured vehicles included in the market.
Active protection systems, interoperable communication systems, modular ballistic armour system, electric armour, situational awareness, active mine protection systems, and vehicle information integration are the significant technologies used in the market.
The market can be bifurcated into wheeled and tracked based on mobility.
Engines, drive systems, ballistic armor, turrets drive, ammunition handling system, fire control system, armaments, countermeasure systems, command and control (C2) systems, power systems, navigation systems, observation and display systems, and hulls/frames are the different systems based on which the market is segmented.
Commercial organisation, government organisation, and military, among others are the major applications of armoured vehicle.
The major players in the industry are Oshkosh Defense, LLC, Textron Systems Corporation, Denel Vehicle Systems, Krauss-Maffei Wegmann GmbH & Co., FNSS Savunma Sistemleri A.S., General Dynamics Corporation, BAE Systems plc, and Rheinmetall AG, among others.
Analyst Review
The global armoured vehicle market attained a value of USD 28.6 billion in 2020, driven by the growing government expenditure in the sovereign nations to enhance the internal security. Aided by the technological advancements in military and defence industry and rising activities of cross-border terrorism, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.8%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Main battle tanks (MBT), mine-resistant ambush-protected (MRAP), light protected vehicles (LPV), armoured personnel carriers (APC), amphibious armoured vehicles, and unmanned ground vehicles (UGV), among others are the major types of armoured vehicles included in the market. Based on technology used, the market is divided into active protection systems, interoperable communication systems, modular ballistic armour system, electric armour, situational awareness, active mine protection systems, and vehicle information integration. On the basis of mobility, the market is bifurcated into wheeled and tracked.
Based on system, the market is segmented into engines, drive systems, ballistic armor, turrets drive, ammunition handling system, fire control system, armaments, countermeasure systems, command and control (C2) systems, power systems, navigation systems, observation and display systems, and hulls/frames. The significant applications of the product include commercial organisation, government organisation, and military, among others. The major regional markets for armoured vehicle are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Oshkosh Defense, LLC, Textron Systems Corporation, Denel Vehicle Systems, Krauss-Maffei Wegmann GmbH & Co., FNSS Savunma Sistemleri A.S., General Dynamics Corporation, BAE Systems plc, and Rheinmetall AG, among others.
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