PUBLISHER: IMARC | PRODUCT CODE: 1467733
PUBLISHER: IMARC | PRODUCT CODE: 1467733
Armored Vehicles Market Report by Product, System, Drive Type, and Region 2024-2032
The global armored vehicles market size reached US$ 17.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.33% during 2024-2032.
Armored vehicles are automobiles specially designed with partial or complete armor plating to withstand explosions and attacks. Armored personal carriers, infantry fighting vehicles, main battle tanks, tactical trucks, buses, limousines, and sedans are common product variants. These vehicles provide high protection against basaltic threats, including missiles, bullets, and improvised explosives devices (IEDs). They are also used to transport military personnel and valuable items, such as money and jewelry. Armored vehicles are often fitted with weapons and a protective shell manufactured from multiple plates of corrosion-resistant steel, steel alloys, or special composite materials. Besides this, they offer better performance and higher reliability and durability to withstand attacks.
Armored Vehicles Market Trends:
The increasing product demand from defense forces across the globe is creating a positive outlook for the market. Armored vehicles are used for frontline combat, armed escorting, surveillance, and goods transportation on battlefields. The rising popularity of armored vehicles can also be attributed to the rapid militarization of law enforcement agencies to combat internal security challenges, which, in turn, is acting as another growth-inducing factor. Furthermore, the widespread adoption of armored passenger vehicles for self and family protection, safeguarding public figures, and securing valuable materials due to increasing insurgent activities and rising threat levels is favoring the market growth. Additionally, the integration of an active protection system (APS) that uses launchers, sensors, tracking radar, and countermeasure munitions to automatically detect and counteract incoming threat projectiles is providing an impetus to the market growth. Moreover, the increasing adoption of unmanned variants by defense forces to carry out intelligence, surveillance, and reconnaissance (ISR) and combat operations is propelling the market growth. Other factors, including rising incidences of asymmetric warfare across the globe, increasing military modernization, growing production of modular armored vehicles, and the implementation of various government initiatives toward strengthening the armed forces, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global armored vehicles market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, system and drive type.
Breakup by Product:
Defense
Armored Personnel Carrier (APC)
Infantry Fighting Vehicles (IFVs)
Light Protected Vehicles (LPVs)
Main Battle Tanks (MBTs)
Mine-resistant Ambush Protected (MRAP)
Tactical Vehicle
Others
Commercial
Bus/Van
Limousine
Sedan
SUV
Others
Breakup by System:
Engine
Drive System
Ballistic Armor
Turret Drives
Ammunition Handling System
Fire Control Systems (FCS)
Armaments
Countermeasure System
Command and Control (C2) System
Power System
Navigation System
Observation and Display System
Hulls/Frames
Breakup by Drive Type:
Wheeled
Tracked
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, IVECO, Krauss-Maffei Wegmann GmbH & Co. KG (KMW+Nexter Defense Systems N.V.), Lenco Armored Vehicles Inc, Lockheed Martin Corporation, Oshkosh Defense, LLC (Oshkosh Corporation), Rheinmetall AG and Textron Inc.
Key Questions Answered in This Report
- 1. What was the size of the global armored vehicles market in 2023?
- 2. What is the expected growth rate of the global armored vehicles market during 2024-2032?
- 3. What are the key factors driving the global armored vehicles market?
- 4. What has been the impact of COVID-19 on the global armored vehicles market?
- 5. What is the breakup of the global armored vehicles market based on product?
- 6. What is the breakup of the global armored vehicles market based on the drive type?
- 7. What are the key regions in the global armored vehicles market?
- 8. Who are the key players/companies in the global armored vehicles market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Armored Vehicles Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Defense
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Armored Personnel Carrier (APC)
- 6.1.2.2 Infantry Fighting Vehicles (IFVs)
- 6.1.2.3 Light Protected Vehicles (LPVs)
- 6.1.2.4 Main Battle Tanks (MBTs)
- 6.1.2.5 Mine-resistant Ambush Protected (MRAP)
- 6.1.2.6 Tactical Vehicle
- 6.1.2.7 Others
- 6.1.3 Market Forecast
- 6.2 Commercial
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Bus/Van
- 6.2.2.2 Limousine
- 6.2.2.3 Sedan
- 6.2.2.4 SUV
- 6.2.2.5 Others
- 6.2.3 Market Forecast
7 Market Breakup by System
- 7.1 Engine
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Drive System
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Ballistic Armor
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Turret Drives
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Ammunition Handling System
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Fire Control Systems (FCS)
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7 Armaments
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
- 7.8 Countermeasure System
- 7.8.1 Market Trends
- 7.8.2 Market Forecast
- 7.9 Command and Control (C2) System
- 7.9.1 Market Trends
- 7.9.2 Market Forecast
- 7.10 Power System
- 7.10.1 Market Trends
- 7.10.2 Market Forecast
- 7.11 Navigation System
- 7.11.1 Market Trends
- 7.11.2 Market Forecast
- 7.12 Observation and Display System
- 7.12.1 Market Trends
- 7.12.2 Market Forecast
- 7.13 Hulls/Frames
- 7.13.1 Market Trends
- 7.13.2 Market Forecast
8 Market Breakup by Drive Type
- 8.1 Wheeled
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Tracked
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 BAE Systems plc
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Elbit Systems Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 General Dynamics Corporation
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 INKAS Armored Vehicle Manufacturing
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 International Armored Group
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 IVECO
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.7 Krauss-Maffei Wegmann GmbH & Co. KG (KMW+Nexter Defense Systems N.V.)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Lenco Armored Vehicles Inc
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Lockheed Martin Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Oshkosh Defense, LLC (Oshkosh Corporation)
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Rheinmetall AG
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.12 Textron Inc.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.1 BAE Systems plc
List of Figures
- Figure 1: Global: Armored Vehicles Market: Major Drivers and Challenges
- Figure 2: Global: Armored Vehicles Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Armored Vehicles Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Armored Vehicles Market: Breakup by Product (in %), 2023
- Figure 5: Global: Armored Vehicles Market: Breakup by System (in %), 2023
- Figure 6: Global: Armored Vehicles Market: Breakup by Drive Type (in %), 2023
- Figure 7: Global: Armored Vehicles Market: Breakup by Region (in %), 2023
- Figure 8: Global: Armored Vehicles (Defense Armored Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Armored Vehicles (Defense Armored Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Armored Vehicles (Commercial Armored Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Armored Vehicles (Commercial Armored Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Armored Vehicles (Engine) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Armored Vehicles (Engine) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Armored Vehicles (Drive System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Armored Vehicles (Drive System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Armored Vehicles (Ballistic Armor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Armored Vehicles (Ballistic Armor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Armored Vehicles (Turret Drives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Armored Vehicles (Turret Drives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Armored Vehicles (Ammunition Handling System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Armored Vehicles (Ammunition Handling System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Armored Vehicles (Fire Control Systems (FCS)) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Armored Vehicles (Fire Control Systems (FCS)) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Armored Vehicles (Armaments) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Armored Vehicles (Armaments) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Armored Vehicles (Countermeasure System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Armored Vehicles (Countermeasure System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Armored Vehicles (Command and Control (C2) System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Armored Vehicles (Command and Control (C2) System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Armored Vehicles (Power System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Armored Vehicles (Power System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: Armored Vehicles (Navigation System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: Armored Vehicles (Navigation System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Global: Armored Vehicles (Observation and Display System) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Global: Armored Vehicles (Observation and Display System) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Global: Armored Vehicles (Hulls/Frames) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Global: Armored Vehicles (Hulls/Frames) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Global: Armored Vehicles (Wheeled) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Global: Armored Vehicles (Wheeled) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Global: Armored Vehicles (Tracked) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Global: Armored Vehicles (Tracked) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: North America: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: North America: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: United States: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: United States: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Canada: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Canada: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Asia-Pacific: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Asia-Pacific: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: China: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: China: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Japan: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Japan: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: India: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: India: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: South Korea: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: South Korea: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Australia: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Australia: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Indonesia: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Indonesia: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Others: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Others: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Europe: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Europe: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Germany: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Germany: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: France: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: France: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: United Kingdom: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: United Kingdom: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Italy: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Italy: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Spain: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Spain: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Russia: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Russia: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Others: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Others: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 80: Latin America: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 81: Latin America: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 82: Brazil: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 83: Brazil: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 84: Mexico: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 85: Mexico: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 86: Others: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 87: Others: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 88: Middle East and Africa: Armored Vehicles Market: Sales Value (in Million US$), 2018 & 2023
- Figure 89: Middle East and Africa: Armored Vehicles Market: Breakup by Country (in %), 2023
- Figure 90: Middle East and Africa: Armored Vehicles Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 91: Global: Armored Vehicles Industry: SWOT Analysis
- Figure 92: Global: Armored Vehicles Industry: Value Chain Analysis
- Figure 93: Global: Armored Vehicles Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Armored Vehicles Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Armored Vehicles Market Forecast: Breakup by Product (in Million US$), 2024-2032
- Table 3: Global: Armored Vehicles Market Forecast: Breakup by System (in Million US$), 2024-2032
- Table 4: Global: Armored Vehicles Market Forecast: Breakup by Drive Type (in Million US$), 2024-2032
- Table 5: Global: Armored Vehicles Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Armored Vehicles Market: Competitive Structure
- Table 7: Global: Armored Vehicles Market: Key Players
