PUBLISHER: Grand View Research | PRODUCT CODE: 1404768
PUBLISHER: Grand View Research | PRODUCT CODE: 1404768
U.S. Armored Vehicle Market Size, Share & Trends Analysis Report By Product (Combat Vehicles), By Vehicle Type, By Mobility, By Mode of Operation, By Point of Sale, By System, And Segment Forecasts, 2023 - 2030
U.S. Armored Vehicle Market Growth & Trends:
The U.S. armored vehicles market size is expected to reach USD 12.26 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to grow at a lucrative CAGR of 5.4% from 2023 to 2030. The U.S. armored vehicle market has witnessed considerable growth owing to the increasing emphasis on safeguarding soldiers from external and internal threats. High defense spending in the U.S. has positively impacted the growth of the armored vehicle market. With the largest defense budget, the U.S. dedicates a substantial portion to the development, procurement, and maintenance of armored vehicles. This immense financial commitment emphasizes the importance and demand for armored vehicles in the country's defense infrastructure. The need to modernize aging fleets plays a pivotal role in driving the growth of the market. The U.S. military operates a large fleet of armored vehicles, many of which have reached the end of their service life. As a result, there is a compelling need to replace
and upgrade these vehicles with more advanced and capable counterparts, aligning with evolving defense requirements.
Key players and research agencies are focusing on developing innovative techniques to make armored defense vehicles more autonomous, maneuverable, lighter, and faster to increase the survivability of vehicles. Defense Advanced Research Projects Agency (DARPA) introduced the Ground X-Vehicle Technologies (GXV-T) program to improve the mobility and survivability of armored vehicles. Furthermore, various Western military forces have started upgrading their aging armored vehicle fleets, including Denmark, Poland, Canada, U.S., and U.K. Manufacturers are focusing on offering technologically advanced Armored Fighting Vehicles (AFVs) for the defense sector.
AFVs include highly explosive munitions, fire control systems, remote weapon systems, and active defense suites, among others. These technologies have further increased the demand for AFVs in the defense sector. Defense crew must remain inside the vehicles during attacks from Rocket-Propelled Grenades (RPG), mines, and Improvised Explosive Devices (IED) to improve their survivability. The increase in the number of Remote Weapon Stations (RWS) is enabling crews to operate weapons from the protected vehicle hull.
The demand for advanced protection against emerging threats is leading to the development of next-generation armored vehicles equipped with advanced armor systems and electronic countermeasures. These defenses are crucial in countering modern challenges such as kinetic energy penetrators and anti-tank-guided missiles. Besides military demand, there is a rising need for armored vehicles among law enforcement and security agencies. These organizations deploy armored vehicles to protect their personnel and assets from threats such as terrorism, drug trafficking, and organized crime. For instance, in April 2021, BAE Systems collaborated with the U.S. Army to provide two prototype vehicles for assessment as a potential remedy for the Cold Weather All-Terrain Vehicle (CATV) program. BAE Systems introduced Beowulf's all-terrain vehicle. It is built on tried-and-true techniques and can move people and goods in the most difficult and isolated environments.
Beowulf is a tracked, unarmored, extremely adaptable vehicle that can traverse even the most difficult terrains while transporting people and supplies in either of its two compartments. Beowulf's efficiency is articulated by the mobility system, which provides ideal maneuverability on a variety of terrain. Additionally, it is modular in design and may be set up for a variety of tasks, including search and rescue, disaster and humanitarian aid, logistical support, and other tasks as needed.
U.S. Armored Vehicle Market Report Highlights:
- The manned armored vehicles segment led the market in 2022, accounting for over 86% share of the revenue, driven by escalating geopolitical tensions and conflicts. This segment's growth is fueled by the rising threat of terrorism and asymmetric warfare, as armored vehicles offer vital protection for personnel and equipment in high-risk settings.
- The wheeled segment led the market in 2022, accounting for over 83% of revenue. The segment's growth is attributed to the versatility and mobility of wheeled vehicles. Wheeled armored vehicle, being lighter and faster than tracked ones, are better suited for a wide range of military operations.
- The electric armored vehicles segment is expected to showcase significant growth over the forecast period. The integration of advanced electric powertrains in armored vehicles enhances their performance, agility, and versatility. The immediate torque offered by electric propulsion ensures rapid acceleration and improved off-road capabilities. These vehicles are also quieter in operation, offering a stealth advantage in surveillance and reconnaissance missions.
Table of Contents
Chapter 1. Methodology And Scope
- 1.1. Research Methodology
- 1.2. Research Scope And Assumptions
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. Gvr's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Market Variables, Trends, And Scope
- 3.1. Market Lineage
- 3.2. Industry Value Chain Analysis
- 3.3. U.S. Armored Vehicle Market - Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.1.1. Enhancing Intelligence, Surveillance, Reconnaissance (Isr), And Target Acquisition Capabilities Within The Defense Sector
- 3.3.1.2. Technological Advancements In Armored Vehicles
- 3.3.1.3. Growing Demand For Next-Generation Military Vehicles Equipped With Advanced Weapon Systems
- 3.3.2. Market Restraint Analysis
- 3.3.2.1. Adverse Impact Of Electrical And Mechanical Failures In Armored Vehicles
- 3.3.3. Industry Challenges
- 3.3.1. Market Driver Analysis
- 3.4. Business Environmental Tools Analysis: U.S. Armored Vehicle Market
- 3.4.1. Porter's Five Forces Analysis
- 3.4.1.1. Bargaining Power Of Suppliers
- 3.4.1.2. Bargaining Power Of Buyers
- 3.4.1.3. Threat Of Substitution
- 3.4.1.4. Threat Of New Entrants
- 3.4.1.5. Competitive Rivalry
- 3.4.2. Pestle Analysis
- 3.4.2.1. Political Landscape
- 3.4.2.2. Economic Landscape
- 3.4.2.3. Social Landscape
- 3.4.2.4. Technology Landscape
- 3.4.2.5. Environmental Landscape
- 3.4.2.6. Legal Landscape
- 3.4.1. Porter's Five Forces Analysis
- 3.5. Economic Mega Trend Analysis
Chapter 4. U.S. Armored Vehicle Market: Product Estimates & Trend Analysis
- 4.1. U.S. Armored Vehicle Market, By Product: Key Takeaways
- 4.2. U.S. Armored Vehicle Market: Product Movement Analysis, 2022 & 2030
- 4.3. Combat Vehicles
- 4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.3.1.1. Armored Personnel Carrier (APC)
- 4.3.1.2. Infantry Fighting Vehicles (IFV)
- 4.3.1.3. Light Protected Vehicles (LPV)
- 4.3.1.4. Main Battle Tanks (MBT)
- 4.3.1.5. Mine-Resistant Ambush Protected (MRAP)
- 4.3.1.6. Tactical Vehicle
- 4.3.1.7. Others
- 4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4. Combat Support Vehicles
- 4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4.1.1. Armored Supply Trucks
- 4.4.1.2. Armored Command & Control Vehicles
- 4.4.1.3. Repair & Recovery Vehicles
- 4.4.1.4. Unmanned Armored Ground Vehicles
- 4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.5. Cash In Transit Vehicles
- 4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.6. Law Enforcement Vehicles
- 4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.7. Others
- 4.7.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 5. U.S. Armored Vehicle Market: Vehicle Type Estimates & Trend Analysis
- 5.1. U.S. Armored Vehicle Market, By Vehicle Type: Key Takeaways
- 5.2. U.S. Armored Vehicle Market: Vehicle Type Movement Analysis, 2022 & 2030
- 5.3. Electric Armored Vehicles
- 5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.4. Conventional Armored Vehicles
- 5.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 6. U.S. Armored Vehicle Market: Mobility Estimates & Trend Analysis
- 6.1. U.S. Armored Vehicle Market, By Mobility: Key Takeaways
- 6.2. U.S. Armored Vehicle Market: Mobility Movement Analysis, 2022 & 2030
- 6.3. Wheeled
- 6.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4. Tracked
- 6.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 7. U.S. Armored Vehicle Market: Mode Of Operation Estimates & Trend Analysis
- 7.1. U.S. Armored Vehicle Market, By Mode Of Operation: Key Takeaways
- 7.2. U.S. Armored Vehicle Market: Mode Of Operation Movement Analysis, 2022 & 2030
- 7.3. Manned Armored Vehicles
- 7.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4. Unmanned Armored Vehicles
- 7.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 8. U.S. Armored Vehicle Market: Point Of Sale Estimates & Trend Analysis
- 8.1. U.S. Armored Vehicle Market, By Point Of Sale: Key Takeaways
- 8.2. U.S. Armored Vehicle Market: Point Of Sale Movement Analysis, 2022 & 2030
- 8.3. Oem
- 8.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.4. Retrofit
- 8.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 9. U.S. Armored Vehicle Market: System Estimates & Trend Analysis
- 9.1. U.S. Armored Vehicle Market, By System: Key Takeaways
- 9.2. U.S. Armored Vehicle Market: System Movement Analysis, 2022 & 2030
- 9.3. Engines
- 9.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4. Drive Systems
- 9.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.5. Ballistic Armor
- 9.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.6. Fire Control Systems (Fcs)
- 9.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.7. Navigation Systems
- 9.7.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.8. Others
- 9.8.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Company Categorization
- 10.2. Company Market Positioning
- 10.3. Company Heat Map Analysis
- 10.4. Strategy Mapping
- 10.4.1. Expansion
- 10.4.2. Mergers & Acquisition
- 10.4.3. Partenerships & Collaborations
- 10.4.4. New Product Launches
- 10.4.5. Research & Development
- 10.5. Company Profiles/Listing
- 10.5.1. Bae Systems
- 10.5.1.1. Overview
- 10.5.1.2. Financial Performance
- 10.5.1.3. Product Benchmarking
- 10.5.2. Bmw Ag
- 10.5.2.1. Overview
- 10.5.2.2. Financial Performance
- 10.5.2.3. Product Benchmarking
- 10.5.3. Mercedes-Benz Group Ag
- 10.5.3.1. Overview
- 10.5.3.2. Financial Performance
- 10.5.3.3. Product Benchmarking
- 10.5.4. Elbit Systems Ltd..
- 10.5.4.1. Overview
- 10.5.4.2. Financial Performance
- 10.5.4.3. Product Benchmarking
- 10.5.5. Ford Motor Company
- 10.5.5.1. Overview
- 10.5.5.2. Financial Performance
- 10.5.5.3. Product Benchmarking
- 10.5.6. General Dynamics Corporation
- 10.5.6.1. Overview
- 10.5.6.2. Financial Performance
- 10.5.6.3. Product Benchmarking
- 10.5.7. Inkas Armored Vehicle Manufacturing
- 10.5.7.1. Overview
- 10.5.7.2. Financial Performance
- 10.5.7.3. Product Benchmarking
- 10.5.8. International Armored Group
- 10.5.8.1. Overview
- 10.5.8.2. Financial Performance
- 10.5.8.3. Product Benchmarking
- 10.5.9. Iveco Group N. V
- 10.5.9.1. Overview
- 10.5.9.2. Financial Performance
- 10.5.9.3. Product Benchmarking
- 10.5.10. Krauss-Maffei Wegmann Gmbh & Co. (Kmw)
- 10.5.10.1. Overview
- 10.5.10.2. Financial Performance
- 10.5.10.3. Product Benchmarking
- 10.5.11. Lenco Industries, Inc
- 10.5.11.1. Overview
- 10.5.11.2. Financial Performance
- 10.5.11.3. Product Benchmarking
- 10.5.12. Lockheed Martin Corporation
- 10.5.12.1. Overview
- 10.5.12.2. Financial Performance
- 10.5.12.3. Product Benchmarking
- 10.5.13. Navistar, Inc.
- 10.5.13.1. Overview
- 10.5.13.2. Financial Performance
- 10.5.13.3. Product Benchmarking
- 10.5.14. Oshkosh Defense, Llc
- 10.5.14.1. Overview
- 10.5.14.2. Financial Performance
- 10.5.14.3. Product Benchmarking
- 10.5.15. Rheinmetall Ag
- 10.5.15.1. Overview
- 10.5.15.2. Financial Performance
- 10.5.15.3. Product Benchmarking
- 10.5.16. Stat, Inc.
- 10.5.16.1. Overview
- 10.5.16.2. Financial Performance
- 10.5.16.3. Product Benchmarking
- 10.5.17. Textron, Inc.
- 10.5.17.1. Overview
- 10.5.17.2. Financial Performance
- 10.5.17.3. Product Benchmarking
- 10.5.18. Thales Group.
- 10.5.18.1. Overview
- 10.5.18.2. Financial Performance
- 10.5.18.3. Product Benchmarking
- 10.5.1. Bae Systems
List of Tables
- Table 1 US armored vehicle - industry snapshot & key buying criteria, 2017 - 2030
- Table 2 US armored vehicle market, 2017 - 2030 (USD Million)
- Table 3 US armored vehicle market estimates and forecast by product, 2017 - 2030 (USD Million)
- Table 4 US armored vehicle market estimates and forecast by vehicle type, 2017 - 2030 (USD Million)
- Table 5 US armored vehicle market estimates and forecast by mobility, 2017 - 2030 (USD Million)
- Table 6 US armored vehicle market estimates and forecast by mode of operation, 2017 - 2030 (USD Million)
- Table 7 US armored vehicle market estimates and forecast by point of sale, 2017 - 2030 (USD Million)
- Table 8 US armored vehicle market estimates and forecast by system, 2017 - 2030 (USD Million)
- Table 9 US armored vehicle market estimates and forecasts by region, 2017 - 2030 (USD Million)
- Table 10 US armored vehicle market estimates and forecast by combat vehicles, 2017 - 2030 (USD Million)
- Table 11 US armored vehicle market estimates and forecast by armored personnel carrier (APC), 2017 - 2030 (USD Million)
- Table 12 US armored vehicle market estimates and forecast, by infantry fighting vehicles (IFV), 2017 - 2030 (USD Million)
- Table 13 US armored vehicle market estimates and forecast by light protected vehicles (LPV), 2017 - 2030 (USD Million)
- Table 14 US armored vehicle market estimates and forecast by main battle tanks (MBT), 2017 - 2030 (USD Million)
- Table 15 US armored vehicle market estimates and forecast by mine-resistant ambush protected (MRAP), 2017 - 2030 (USD Million)
- Table 16 US armored vehicle market estimates and forecast, by tactical vehicle, 2017 - 2030 (USD Million)
- Table 17 US armored vehicle market estimates and forecast by others, 2017 - 2030 (USD Million)
- Table 18 US armored vehicle market estimates and forecast by combat support vehicles, 2017 - 2030 (USD Million)
- Table 19 US armored vehicle market estimates and forecast by armored supply trucks, 2017 - 2030 (USD Million)
- Table 20 US armored vehicle market estimates and forecast, by armored command & control vehicles, 2017 - 2030 (USD Million)
- Table 21 US armored vehicle market estimates and forecast by repair & recovery vehicles, 2017 - 2030 (USD Million)
- Table 22 US armored vehicle market estimates and forecast by unmanned armored ground vehicles, 2017 - 2030 (USD Million)
- Table 23 US armored vehicle market estimates and forecast by cash in transit vehicles, 2017 - 2030 (USD Million)
- Table 24 US armored vehicle market estimates and forecast, by law enforcement vehicles, 2017 - 2030 (USD Million)
- Table 25 US armored vehicle market estimates and forecast by others, 2017 - 2030 (USD Million)
- Table 26 US armored vehicle market estimates and forecast by electric armored vehicles, 2017 - 2030 (USD Million)
- Table 27 US armored vehicle market estimates and forecast by conventional armored vehicles, 2017 - 2030 (USD Million)
- Table 28 US armored vehicle market estimates and forecast by wheeled, 2017 - 2030 (USD Million)
- Table 29 US armored vehicle market estimates and forecast, by tracked, 2017 - 2030 (USD Million)
- Table 30 US armored vehicle market estimates and forecast by manned armored vehicles, 2017 - 2030 (USD Million)
- Table 31 US armored vehicle market estimates and forecast by unmanned armored vehicles, 2017 - 2030 (USD Million)
- Table 32 US armored vehicle market estimates and forecast by OEM, 2017 - 2030 (USD Million)
- Table 33 US armored vehicle market estimates and forecast, by retrofit, 2017 - 2030 (USD Million)
- Table 34 US armored vehicle market estimates and forecast by engines, 2017 - 2030 (USD Million)
- Table 35 US armored vehicle market estimates and forecast by drive systems, 2017 - 2030 (USD Million)
- Table 36 US armored vehicle market estimates and forecast, by ballistic armor, 2017 - 2030 (USD Million)
- Table 37 US armored vehicle market estimates and forecast by fire control systems (FCS), 2017 - 2030 (USD Million)
- Table 38 US armored vehicle market estimates and forecast by navigation systems, 2017 - 2030 (USD Million)
- Table 39 US armored vehicle market estimates and forecast by others, 2017 - 2030 (USD Million)
List of Figures
- Fig. 1 U.S. Armored Vehicle Market Snapshot
- Fig. 2 U.S. Armored Vehicle Market Segmentation & Scope
- Fig. 3 U.S. Armored Vehicle Market Penetration & Growth Prospect Mapping
- Fig. 4 U.S. Armored Vehicle Market Value Chain Analysis
- Fig. 5 U.S. Armored Vehicle Market Dynamics
- Fig. 6 U.S. Armored Vehicle Market Porter's Analysis
- Fig. 7 U.S. Armored Vehicle Market: Product Movement Analysis
- Fig. 8 U.S. Armored Vehicle Market: Vehicle Type Movement Analysis
- Fig. 9 U.S. Armored Vehicle Market: Mobility Movement Analysis
- Fig. 10 U.S. Armored Vehicle Market: Mode of Operation Movement Analysis
- Fig. 11 U.S. Armored Vehicle Market: Point of Sale Movement Analysis
- Fig. 12 U.S. Armored Vehicle Market: System Movement Analysis
- Fig. 13 U.S. Armored Vehicle Market: Regional Movement Analysis
