Reports
Global Armoured Vehicle Market: By Type; By Technology Used; By Mobility; By System; By Application: Commercial Organisation, Government Organisation, Military, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
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 2023-2028.
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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.
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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.
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.
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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.
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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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 Industry Opportunities and Challenges
8 Global Armoured Vehicle Market Analysis
8.1 Key Industry Highlights
8.2 Global Armoured Vehicle Historical Market (2018-2022)
8.3 Global Armoured Vehicle Market Forecast (2023-2028)
8.4 Global Armoured Vehicle Market by Type
8.4.1 Main Battle Tanks (MBT)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Mine-Resistant Ambush-Protected (MRAP)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Light Protected Vehicles (LPV)
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Armoured Personnel Carriers (APC)
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Amphibious Armoured Vehicles
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Unmanned Ground Vehicles (UGV)
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Armoured Vehicle Market by Technology Used
8.5.1 Active Protection Systems
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Interoperable Communication Systems
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Modular Ballistic Armour Systems
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Electric Armour
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Situational Awareness
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Active Mine Protection Systems
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Vehicle Information Integration
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.6 Global Armoured Vehicle Market by Mobility
8.6.1 Wheeled
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Tracked
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Armoured Vehicle Market by System
8.7.1 Engine
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Drive Systems
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Ballistic Armor
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Turrets Drive
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Ammunition Handling System
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Fire Control System
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Armaments
8.7.7.1 Market Share
8.7.7.2 Historical Trend (2018-2022)
8.7.7.3 Forecast Trend (2023-2028)
8.7.8 Countermeasure Systems
8.7.8.1 Market Share
8.7.8.2 Historical Trend (2018-2022)
8.7.8.3 Forecast Trend (2023-2028)
8.7.9 Command and Control (C2) Systems
8.7.9.1 Market Share
8.7.9.2 Historical Trend (2018-2022)
8.7.9.3 Forecast Trend (2023-2028)
8.7.10 Power Systems
8.7.10.1 Market Share
8.7.10.2 Historical Trend (2018-2022)
8.7.10.3 Forecast Trend (2023-2028)
8.7.11 Navigation Systems
8.7.11.1 Market Share
8.7.11.2 Historical Trend (2018-2022)
8.7.11.3 Forecast Trend (2023-2028)
8.7.12 Observation and Display Systems
8.7.12.1 Market Share
8.7.12.2 Historical Trend (2018-2022)
8.7.12.3 Forecast Trend (2023-2028)
8.7.13 Hulls/Frames
8.7.13.1 Market Share
8.7.13.2 Historical Trend (2018-2022)
8.7.13.3 Forecast Trend (2023-2028)
8.8 Global Armoured Vehicle Market by Application
8.8.1 Commercial Organization
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Government Organization
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Military
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Others
8.9 Global Armoured Vehicle Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Oshkosh Defense, LLC
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Textron Systems Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Denel Vehicle Systems
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Krauss-Maffei Wegmann GmbH and Co.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 FNSS Savunma Sistemleri A.S.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 General Dynamics Corporation
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 BAE Systems plc
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Rheinmetall AG
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Armoured Vehicle Market: Key Industry Highlights, 2018 and 2028
2. Global Armoured Vehicle Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Armoured Vehicle Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Armoured Vehicle Historical Market: Breakup by Technology Used (USD Million), 2018-2022
5. Global Armoured Vehicle Market Forecast: Breakup by Technology Used (USD Million), 2023-2028
6. Global Armoured Vehicle Historical Market: Breakup by Mobility (USD Million), 2018-2022
7. Global Armoured Vehicle Market Forecast: Breakup by Mobility (USD Million), 2023-2028
8. Global Armoured Vehicle Historical Market: Breakup by System (USD Million), 2018-2022
9. Global Armoured Vehicle Market Forecast: Breakup by System (USD Million), 2023-2028
10. Global Armoured Vehicle Historical Market: Breakup by Application (USD Million), 2018-2022
11. Global Armoured Vehicle Market Forecast: Breakup by Application (USD Million), 2023-2028
12. Global Armoured Vehicle Historical Market: Breakup by Region (USD Million), 2018-2022
13. Global Armoured Vehicle Market Forecast: Breakup by Region (USD Million), 2023-2028
14. North America Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
15. North America Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Europe Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
17. Europe Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Asia Pacific Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
19. Asia Pacific Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Latin America Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
21. Latin America Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Middle East and Africa Armoured Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
23. Middle East and Africa Armoured Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
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 2023 and 2028.
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 2023-2028, 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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