PUBLISHER: IMARC | PRODUCT CODE: 1423280
PUBLISHER: IMARC | PRODUCT CODE: 1423280
Armored Vehicles Upgrade and Retrofit Market Report by Vehicle Type (Armored Personnel Carrier, Infantry Fighting Vehicle, Mine-Resistant Ambush Protected, Main Battle Tank, and Others), Design, and Region 2024-2032
Abstract
The global armored vehicles upgrade and retrofit market size reached US$ 6.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.
Armored vehicles refer to transportation and land combat vehicles used for various offensive and defensive operations. They are commonly employed for the transportation of military personnel and cargo as well as operating in active combats. These vehicles are often armed with weapons and protected by an armor against shell fragments, bullets and other projectiles.
Several programs are being conducted to upgrade the equipment and systems in old armored vehicles across the globe. Led by the availability of modern and evolved warfare technologies, these programs are driving the growth of the upgrade and retrofit market. Additionally, many countries are expanding their military budgets on account of increasing terrorism and hostile activities. These activities have also resulted in the requirement of frequent repairing and installation of new parts in armored vehicles. Besides, there has been a rise in the demand for low-cost per mile military vehicles. As the processes of upgrade and retrofit are comparatively less expensive than manufacturing a fully equipped vehicle, it has positively influenced the market growth. Moreover, there has been a rise in investments for the advancement of military troop equipment for increased mobility and improved protection of land troops across both developed and emerging economies.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global armored vehicles upgrade and retrofit market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on vehicle type and design.
Breakup by Vehicle Type:
Armored Personnel Carrier (APC)
Infantry Fighting Vehicle (IFV)
Mine-Resistant Ambush Protected (MRAP)
Main Battle Tank (MBT)
Others
Breakup by Design:
Wheeled Armored Vehicles
Tracked Armored Vehicles
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being AM General, FNSS Savunma Sistemleri, MKU, Oshkosh Defense, Sabiex International, BAE Systems, Diehl Defence, Elbit Systems, General Dynamics, Palbam, Rheinmetall, Thales Group, etc.
Key Questions Answered in This Report
- 1. What was the size of the global armored vehicles upgrade and retrofit market in 2023?
- 2. What is the expected growth rate of the global armored vehicles upgrade and retrofit market during 2024-2032?
- 3. What are the key factors driving the global armored vehicles upgrade and retrofit market?
- 4. What has been the impact of COVID-19 on the global armored vehicles upgrade and retrofit market?
- 5. What are the key regions in the global armored vehicles upgrade and retrofit market?
- 6. Who are the key players/companies in the global armored vehicles upgrade and retrofit 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 Upgrade and Retrofit Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Vehicle Type
- 5.5 Market Breakup by Design
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
6 Market Breakup by Vehicle Type
- 6.1 Armored Personnel Carrier (APC)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Infantry Fighting Vehicle (IFV)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Mine-Resistant Ambush Protected (MRAP)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Main Battle Tank (MBT)
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Design
- 7.1 Wheeled Armored Vehicles
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Tracked Armored Vehicles
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Europe
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Asia Pacific
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Middle East and Africa
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Latin America
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
- 10.1 Overview
- 10.2 Research and Development
- 10.3 Parts Manufacturing
- 10.4 System and Subsystem Assembly
- 10.5 Final Integration
- 10.6 Marketing and Sales
- 10.7 Delivery to End Customers
- 10.8 Aftermarket Services
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 AM General
- 13.3.2 FNSS Savunma Sistemleri
- 13.3.3 MKU
- 13.3.4 Oshkosh Defense
- 13.3.5 Sabiex International
- 13.3.6 BAE Systems
- 13.3.7 Diehl Defence
- 13.3.8 Elbit Systems
- 13.3.9 General Dynamics
- 13.3.10 Palbam
- 13.3.11 Rheinmetall
- 13.3.12 Thales Group
List of Figures
- Figure 1: Global: Armored Vehicles Upgrade and Retrofit Market: Major Drivers and Challenges
- Figure 2: Global: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Vehicle Type (in %), 2023
- Figure 4: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Design (in %), 2023
- Figure 5: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Region (in %), 2023
- Figure 6: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 7: Global: Armored Vehicles Upgrade and Retrofit Industry: SWOT Analysis
- Figure 8: Global: Armored Vehicles Upgrade and Retrofit Industry: Value Chain Analysis
- Figure 9: Global: Armored Vehicles Upgrade and Retrofit Industry: Porter's Five Forces Analysis
- Figure 10: Global: Armored Vehicles Upgrade and Retrofit (Armored Personnel Carrier) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Armored Vehicles Upgrade and Retrofit (Armored Personnel Carrier) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Armored Vehicles Upgrade and Retrofit (Infantry Fighting Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Armored Vehicles Upgrade and Retrofit (Infantry Fighting Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Armored Vehicles Upgrade and Retrofit (Mine-Resistant Ambush Protected) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Armored Vehicles Upgrade and Retrofit (Mine-Resistant Ambush Protected) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Armored Vehicles Upgrade and Retrofit (Main Battle Tank) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Armored Vehicles Upgrade and Retrofit (Main Battle Tank) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Armored Vehicles Upgrade and Retrofit (Other Vehicle Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Armored Vehicles Upgrade and Retrofit (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Armored Vehicles Upgrade and Retrofit (Wheeled Armored Vehicles) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Armored Vehicles Upgrade and Retrofit (Wheeled Armored Vehicles) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Armored Vehicles Upgrade and Retrofit (Tracked Armored Vehicles) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Armored Vehicles Upgrade and Retrofit (Tracked Armored Vehicles) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: North America: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: North America: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Europe: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Europe: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Asia Pacific: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Asia Pacific: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Middle East and Africa: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Middle East and Africa: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Latin America: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Latin America: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2024-2032
List of Tables
- Table 1: Global: Armored Vehicles Upgrade and Retrofit Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Vehicle Type (in Million US$), 2024-2032
- Table 3: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Design (in Million US$), 2024-2032
- Table 4: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Armored Vehicles Upgrade and Retrofit Market Structure
- Table 6: Global: Armored Vehicles Upgrade and Retrofit Market: Key Players
