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PUBLISHER: Market Forecast | PRODUCT CODE: 1894896
PUBLISHER: Market Forecast | PRODUCT CODE: 1894896
Military Armoured Vehicles - Market and Technology Forecast to 2033
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PAGES: 151 Pages
DELIVERY TIME: 1-2 business days
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Market forecasts by Regions, and by Type. Country Analysis, Opportunity and Impact Analysis, Market and Technologies Overview, and Leading Companies.
In an era defined by escalating geopolitical tensions, rising defence budgets, and the return of high-intensity conflicts, the global armoured vehicles market is entering a phase of robust, long-term growth. Armed forces worldwide are prioritising mechanised and motorised capabilities, driving accelerated procurement of infantry fighting vehicles (IFVs), armoured personnel carriers (APCs), and advanced support platforms. Lessons from recent conflicts in Ukraine and Gaza have reaffirmed the vital role of armoured systems in modern warfare, intensifying demand for platforms that deliver superior survivability and lethality.
Europe is leading this resurgence, reversing years of underinvestment through ambitious modernisation programmes that are transforming continental defence postures, while the United States maintains a mature market dominated by established leaders.
Market dynamics are evolving rapidly. Consolidation efforts in Europe continue to navigate national interests and regional priorities, while nations like Poland pursue greater industrial independence. In the Middle East, countries including the UAE and Saudi Arabia are developing domestic capabilities to enhance operational sustainability and reduce reliance on external suppliers. Meanwhile, China is emerging as a disruptive force, offering cost-effective yet advanced designs that are challenging traditional exporters, particularly as Russia's capabilities remain constrained by ongoing demands.
Technological innovation is reshaping the sector, with AI, big data, augmented and virtual reality, and additive manufacturing enabling faster design, prototyping, and lifecycle management. Rising threats from anti-tank missiles, drones, loitering munitions, and peer-level armour are accelerating the integration of active protection systems (APS) on main battle tanks and IFVs, overcoming previous cost barriers to deliver enhanced battlefield resilience.
Competition remains fierce, shaped by long platform lifecycles, politically sensitive procurements, and requirements for local industrial participation. Leading OEMs are securing advantage through strategic acquisitions, resilient supply chains, and comprehensive lifecycle support solutions.
Beyond initial acquisitions, the market offers substantial opportunities in upgrades, maintenance, and sustained services. In a complex global security environment marked by persistent threats and the re-emergence of peer-level warfare, the demand for powerful, deterrent armoured forces will continue to drive expansion-creating lasting value for stakeholders positioned to meet these evolving needs.
Our in-depth Market Analysis Report provides the strategic insights, trends, forecasts, and competitive intelligence required to capitalise on this dynamic sector. Contact us today to secure your copy and stay ahead in this critical market.
Segmentation
The report segments the market in two major segments, by region and by vehicle type.
Region
- North America
- Europe
- Latin America
- Asia-Pacific
- Middle East & Africa
Vehicle Type
- Armoured Personnel Carrier
- Armoured Engineering Vehicle
- Armoured Support Vehicle
- Infantry Fighting Vehicle
- Light Multirole Vehicle
This report, in particular, provides an in-depth analysis of the following.
- Overview: A strong insight of the Armoured Vehicles market in the military market during 2025-2033, including highlights of the demand drivers, trends, and challenges. It also provides a snapshot of the spending with respect to regions as well as segments and sheds light on the emergence of new technologies.
- Market Dynamics: Snapshots into the technological developments in armoured vehicles market. It also analyses the market landscape in key regions, how that is shaped by the war in Ukraine and the political and regulatory efforts undertaken to address a series of issues.
- Segment Analysis: Insights into the various armoured vehicles' variant, and regions from a segmental perspective and a detailed analysis of factors influencing the market for each segment.
- Regional Analysis: Insights into the systems market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Competitive landscape Analysis: Analysis of the competitive landscape of this industry. It provides an overview of key companies, together with insights such as key alliances, strategic initiatives, and a SWOT analysis.
Reasons to buy
- Explore global initiatives to rapidly expand production armoured vehicles in response to the ongoing conflict in Ukraine and the critical need to rebuild national stockpiles.
- Gain a comprehensive analysis of the key drivers transforming the market landscape, from high-level political directives and defence policies to new industry partnerships, joint ventures, and the reconfiguration of supply chains-including the strategic management of essential raw materials.
- Obtain clear, high-level visibility into ammunition manufacturing capabilities across major regions, including details on production output and the armoured vehicles' variants being supplied as military aid to Ukraine, and how these developments are influencing global procurement strategies.
- Identify emerging opportunities alongside potential risks in this dynamic sector, empowering decision-makers with the strategic intelligence needed to optimise business development and positioning.
Product Code: MF252585
Table of Contents
1 Executive Summary
- 1.1 Trends and Insights
- 1.2 Main Findings
- 1.2.1 Armoured Vehicles market summary by Region
- 1.2.2 Armoured Vehicles market summary by Vehicle Type
- 1.3 Key Conclusions
2 Introduction
- 2.1 Scope
- 2.2 Definitions
- 2.3 Methodology
- 2.4 Who will benefit from this study?
3 Technologies and Developments
- 3.1 Introduction
- 3.2 Standardization - Characteristics
- 3.3 Design of armoured vehicles
- 3.3.1 Situational Awareness
- 3.3.2 Tactics
- 3.3.3 Signature Management
- 3.3.4 Countermeasures
- 3.3.5 Active Protection
- 3.3.6 Armour
- 3.3.7 Mitigate
- 3.4 Armoured Vehicles and Artificial Intelligence
- 3.5 Modularity
4 Critical Raw Materials
5 Market Overview
- 5.1 Introduction
- 5.2 Military armoured vehicles market volume distribution over forecast period by Region
- 5.3 Competitive landscape
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Central & South America
- 5.3.4 Middle East and North Africa
- 5.3.5 Asia-Pacific
6 Market Dynamics and Forecast Factors
- 6.1 Market Segmentation
- 6.2 Drivers
- 6.3 Trends
- 6.4 Opportunities
- 6.5 Challenges
7 Country Analysis
- 7.1 North America
- 7.1.1 Canada
- 7.1.2 United States
- 7.2 Europe
- 7.2.1 Austria
- 7.2.2 Belgium
- 7.2.3 Denmark
- 7.2.4 Finland
- 7.2.5 France
- 7.2.6 Germany
- 7.2.7 Greece
- 7.2.8 Italy
- 7.2.9 Lithuania
- 7.2.10 Luxembourg
- 7.2.11 Netherlands
- 7.2.12 Norway
- 7.2.13 Poland
- 7.2.14 Romania
- 7.2.15 Slovenia
- 7.2.16 Spain
- 7.2.17 Sweden
- 7.2.18 United Kingdom
- 7.3 Latin America
- 7.3.1 Brazil
- 7.4 Asia-Pacific
- 7.4.1 Australia
- 7.4.2 South Korea
8 Armoured Vehicles market to 2033 by Region
- 8.1 Armoured Vehicles market by Region overview
- 8.2 Armoured Vehicles market Region by Vehicle Type overview
- 8.2.1 North America market by Vehicle Type overview
- 8.2.2 Europe market by Vehicle Type overview
- 8.2.3 Latin America market by Vehicle Type overview
- 8.2.4 Asia-Pacific market by Vehicle Type overview
- 8.2.5 Middle East & Africa market by Vehicle Type overview
9 Armoured Vehicles market to 2033 by Vehicle Type
- 9.1 Armoured Vehicles market by Vehicle Type overview
- 9.2 Armoured Vehicles market Vehicle Type by Region overview
- 9.2.1 Armoured Personnel Carrier market by Region overview
- 9.2.2 Armoured Engineering Vehicle market by Region overview
- 9.2.3 Armoured Support Vehicle market by Region overview
- 9.2.4 Infantry Fighting Vehicle market by Region overview
- 9.2.5 Light Multirole Vehicle market by Region overview
10 Opportunity Analysis
- 10.1 Introduction
- 10.2 Compound Growth Rates
- 10.2.1 Region
- 10.2.2 Vehicle Type
11 Companies
- 11.1 American Rheinmetall
- 11.1.1 Introduction
- 11.1.2 Products & Services
- 11.1.3 Recent developments
- 11.2 Arquus (John Cockerill Group)
- 11.2.1 Introduction
- 11.2.2 Products & Services
- 11.2.3 Recent developments
- 11.2.4 SWOT Analysis
- 11.3 BAE Systems Plc
- 11.3.1 Introduction
- 11.3.2 Products and services
- 11.3.3 Recent developments
- 11.3.4 Armoured Vehicles - Recent Contracts
- 11.3.5 SWOT Analysis
- 11.4 General Dynamics Land Systems
- 11.4.1 Introduction
- 11.4.2 Products & Services
- 11.4.3 Recent developments
- 11.4.4 Armoured Vehicles - Recent Contracts
- 11.4.5 SWOT Analysis
- 11.5 Iveco Defence Vehicles (IDV)
- 11.5.1 Introduction
- 11.5.2 Products & Services
- 11.5.3 Recent developments
- 11.5.4 Armoured Vehicles - Recent Contracts
- 11.5.5 SWOT Analysis
- 11.6 KNDS
- 11.6.1 Introduction
- 11.6.2 Products & Services
- 11.6.3 Recent developments
- 11.6.4 Armoured Vehicles - Recent Contracts
- 11.6.5 SWOT Analysis
- 11.7 Kongsberg
- 11.7.1 Introduction
- 11.7.2 Armoured vehicles - Products and Services
- 11.7.3 Armoured vehicles - Recent Developments
- 11.8 Moog Inc.
- 11.8.1 Introduction
- 11.8.2 Products and services
- 11.8.3 Recent developments
- 11.9 Nimr Automotive (EDGE Group)
- 11.9.1 Introduction
- 11.9.2 Armoured vehicles - Products and Services
- 11.9.3 Armoured vehicles - Recent Developments
- 11.9.4 SWOT Analysis
- 11.10 Oshkosh Defense (Oshkosh Corporation)
- 11.10.1 Introduction
- 11.10.2 Products & Services
- 11.10.3 Armoured Vehicles - Recent Contracts
- 11.10.4 SWOT Analysis
- 11.11 Otokar - Otokar Otomotiv ve Savunma Sanayi A.S
- 11.11.1 Introduction
- 11.11.2 Products and services
- 11.11.3 Recent developments
- 11.11.4 SWOT Analysis
- 11.12 Patria
- 11.12.1 Introduction
- 11.12.2 Products & Services
- 11.12.3 Recent developments
- 11.12.4 Armoured Vehicles - Recent Contracts
- 11.12.5 SWOT Analysis
- 11.13 Rheinmetall AG
- 11.13.1 Introduction
- 11.13.2 Products & Services
- 11.13.3 Recent developments
- 11.13.4 Armoured Vehicles - Recent Contracts
- 11.13.5 SWOT Analysis
- 11.14 Supacat
- 11.14.1 Introduction
- 11.14.2 Products and Services
- 11.14.3 Recent developments and contracts
12 Results and Conclusions
13 About Market Forecast
- 13.1 General
- 13.2 Contact us
- 13.3 Disclaimer
- 13.4 License
Appendix A: Companies Mentioned
Appendix B: Abbreviations
Product Code: MF252585
List of Figures
- Figure 1: Armoured Vehicles market summary by Region
- Figure 2: Armoured Vehicles market summary by Vehicle Type
- Figure 3: Critical Raw Materials producing countries
- Figure 4: Critical Raw Materials dependence [%] and volume [mt] by producing countries
- Figure 5: Market volumes over the forecast period per region
- Figure 6: Market Segmentation and Sub Segmentation Military Avionics Market
- Figure 7: The two contestants for the US Army's XM30 programme that will replace the Bradleys
- Figure 8: Armoured Vehicles market to 2033 by Region [US$ millions]
- Figure 9: Armoured Vehicles market to 2033 by Region %
- Figure 10: North America Armoured Vehicles market to 2033 by Vehicle Type
- Figure 11: North America - Armoured Vehicles market to 2033 by Vehicle Type
- Figure 12: Europe Armoured Vehicles market to 2033 by Vehicle Type
- Figure 13: Europe - Armoured Vehicles market to 2033 by Vehicle Type
- Figure 14: Latin America Armoured Vehicles market to 2033 by Vehicle Type
- Figure 15: Latin America - Armoured Vehicles market to 2033 by Vehicle Type
- Figure 16: Asia-Pacific Armoured Vehicles market to 2033 by Vehicle Type
- Figure 17: Asia-Pacific - Armoured Vehicles market to 2033 by Vehicle Type
- Figure 18: Middle East & Africa Armoured Vehicles market to 2033 by Vehicle Type
- Figure 19: Middle East & Africa - Armoured Vehicles market to 2033 by Vehicle Type
- Figure 20: Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Figure 21: Armoured Vehicles market to 2033 by Vehicle Type %
- Figure 22: Armoured Personnel Carrier Armoured Vehicles market to 2033 by Region
- Figure 23: Armoured Personnel Carrier - Armoured Vehicles market to 2033 by Region
- Figure 24: Armoured Engineering Vehicle Armoured Vehicles market to 2033 by Region
- Figure 25: Armoured Engineering Vehicle - Armoured Vehicles market to 2033 by Region
- Figure 26: Armoured Support Vehicle Armoured Vehicles market to 2033 by Region
- Figure 27: Armoured Support Vehicle - Armoured Vehicles market to 2033 by Region
- Figure 28: Infantry Fighting Vehicle Armoured Vehicles market to 2033 by Region
- Figure 29: Infantry Fighting Vehicle - Armoured Vehicles market to 2033 by Region
- Figure 30: Light Multirole Vehicle Armoured Vehicles market to 2033 by Region
- Figure 31: Light Multirole Vehicle - Armoured Vehicles market to 2033 by Region
- Figure 32: Armoured Vehicles Size by Region
- Figure 33: Armoured Vehicles CAGR by Region in US$ millions
- Figure 34: Armoured Vehicles Size by Vehicle Type
- Figure 35: Armoured Vehicles CAGR by Vehicle Type in US$ millions
List of Tables
- Table 1: Armoured Vehicles market summary by Region in US$ millions
- Table 2: Armoured Vehicles market summary by Vehicle Type in US$ millions
- Table 3: Critical Raw Materials used in Armoured Vehicles
- Table 4: Critical Raw Materials - Annual production from low-risk countries (LRC) versus required production for Armoured Vehicles
- Table 5: Market activity
- Table 6: Armoured Vehicles Market Cumulative Share by Country
- Table 7: Armoured Vehicles market to 2033 by Region [US$ millions]
- Table 8: North America Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 9: Europe Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 10: Latin America Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 11: Asia-Pacific Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 12: Middle East & Africa Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 13: Armoured Vehicles market to 2033 by Vehicle Type [US$ millions]
- Table 14: Armoured Personnel Carrier Armoured Vehicles market to 2033 by Region [US$ millions]
- Table 15: Armoured Engineering Vehicle Armoured Vehicles market to 2033 by Region [US$ millions]
- Table 16: Armoured Support Vehicle Armoured Vehicles market to 2033 by Region [US$ millions]
- Table 17: Infantry Fighting Vehicle Armoured Vehicles market to 2033 by Region [US$ millions]
- Table 18: Light Multirole Vehicle Armoured Vehicles market to 2033 by Region [US$ millions]
Companies Listed
- AM General
- ARTEC GmbH
- Allison Transmission Holdings Inc
- American Rheinmetall
- Anduril Industries
- Arquus (John Cockerill Group)
- BAE Systems Plc
- Babcock International
- Daimler Truck Holding AG - Mercedes-Benz Trucks
- FNSS
- GM (General Motors) Defense LLC
- General Dynamics Corporation
- General Dynamics Land Systems
- Hanwha Aerospace
- Hanwha Defense Australia
- Hanwha Systems
- Hyundai Rotem
- Israel Aerospace Industries (IAI)
- Iveco Defence Vehicles (IDV)
- KNDS
- KNDS Deutschland
- KNDS France S.A.
- Kongsberg
- Leonardo DRS
- Leonardo S.p.A.
- Lockheed Martin Corporation
- Moog Inc.
- Nimr Automotive (EDGE Group)
- Northrop Grumman Corporation
- Oshkosh Defense (Oshkosh Corporation)
- Otokar - Otokar Otomotiv ve Savunma Sanayi A.S
- PGZ Group
- PGZ Group - HSW (Huta Stalowa Wola S.A.)
- PGZ Group - Rosomak
- Patria
- Rafael Advanced Defense Systems Ltd.
- Renk Group
- Rheinmetall AG
- Rheinmetall Landsysteme GmbH
- Supacat
- Tatra
- Texelis
- Thales
- Volvo Group - Volvo
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