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Armoured Vehicle Market

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 33.87 billion in 2023. The industry is further projected to grow at a CAGR of 5.8% during the forecast period of 2024-2032.

 

Global Armoured Vehicle Market Report Summary Description Value
Base Year USD Billion 2023
Historical period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 33.9
Market Size 2032 USD Billion 56.3
CAGR 2018-2023 Percentage 0.0%
CAGR 2024-2032 Percentage 5.8%
CAGR 2024-2032 - Market by Region Middle East and Africa 6.5%
CAGR 2024-2032 - Market by Country India 7.1%
CAGR 2024-2032 - Market by Country France 6.2%
CAGR 2024-2032 - Market by Mobility Wheeled 6.0%
CAGR 2024-2032 - Market by Application Government Organization 6.1%
Market Share by Country UK 3.4%

 

Global Armoured Vehicle Market

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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.

 

CAGR 2024-2032 - Market by Mobility
Wheeled 6.0%
Tracked XX%

 

Global Armoured Vehicle Market

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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.

 

CAGR 2024-2032 - Market by Application
Government Organization 6.1%
Military 5.9%
Commercial Organization XX%
Others XX%

 

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.

 

CAGR 2024-2032 - Market by Region
Middle East and Africa 6.5%
North America 5.8%
Europe XX%
Asia Pacific XX%
Latin America XX%

 

CAGR 2024-2032 - Market by Country
India 7.1%
Saudi Arabia 6.8%
France 6.2%
Germany 6.0%
USA 5.9%
Canada XX%
UK XX%
Italy 5.8%
China XX%
Japan XX%
Australia XX%
Brazil XX%
Mexico XX%

 

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.

 

Global Armoured Vehicle Market

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Market Share by Country
UK 3.4%
USA XX%
Canada XX%
Germany XX%

 

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 and Co.
  • FNSS Savunma Sistemleri A.S.
  • 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.

 

Key Highlights of the Report

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
  • Engine
  • 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
  • Hulls/Frames
Breakup by Application
  • Commercial Organization
  • Government Organization
  • Military
  • Others   
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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 and Co.
  • FNSS Savunma Sistemleri A.S.
  • General Dynamics Corporation
  • BAE Systems plc
  • 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.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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 2023, the global armoured vehicle market attained a value of nearly USD 33.87 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 and Co., FNSS Savunma Sistemleri A.S., General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Others.

Analyst Review

The global armoured vehicle market attained a value of USD 33.87 billion in 2023, 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 and Co., FNSS Savunma Sistemleri A.S., General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Others.

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