About Armored Vehicles
Armored Vehicle refers to armed combat vehicles protected by armor and used on the battlefield. This rapid growth attributed to the increasing military expenditures of major economies of the region and the rise in the incidence of terrorism is expected to propel the market for Armored vehicles. Technological advancements in the use and utility of unmanned ground vehicles, artificial intelligence, virtual training, and survivability equipment will lead to an increase in the market growth for Armored Vehicles. The armoring level is determined by factors such as the type and thickness of armored materials used, reinforcement of critical areas, and additional protective features like blast-resistant floors, run-flat tires, and ballistic glass.
|Value (USD Million)
The armored Vehicles market is a fragmented market due to the presence of various players. Players are focusing on increasing manufacturing capacity. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Armored Vehicles market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Dynamics Corporation (United States), Lockheed Martin (United States), Ford Motor Company (United States), Mercedes-Benz (Division of Daimler AG) (United States), Textron Inc. (United States), Oshkosh Defense (United States), Textron Inc. (United States), Elbit Systems (Israel), BAE Systems, Plc. (United Kingdom), Volkswagen AG (Germany) and BMW AG (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Iveco, Lenco Industries, Elbit Systems, Krauss-MaffeiWegmann, Lockheed Martin, Rheinmetall, International Armored Group, Oshkosh Defense, Textron, Navistar International, INKAS, BAE Systems, Thales Group, General Dynamics and STAT Industr.
AMA Research has segmented the market of Global Armored Vehicles market by Type (Wheeled Armored Vehicles, Tracked Armored Vehicles and Others), Application (Defense [Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine Resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, and Others] and Commercial [SUV, Sedan, Limousine, Bus/Van, and Others]) and Region.
On the basis of geography, the market of Armored Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Active will boost the Armored Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Rise in Demand For Customized Armored Vehicles In Order To Achieve Organizational Requirements., Demand For Ballistic Armor Systems and Active Protection Systems and Advancements Such As Increased Fuel Efficiency And Use Of High-Tech Sensors Are Trending Nowadays.
Market Growth Drivers:
Rising Activities of Terrorism and Armed Violence around the Globe and Rising Demand for Rental and Leasing Protected Van Services and Militarization of law Enforcement Agencies
Rising Prices Of Raw Materials And Components and Survivability Issues
Increasing Use of Unmanned Systems
Investments in Procuring And Developing Advanced Armored Vehicles, Growing Awareness About Commercial Security and Increase in Research and Development Activities
Market Leaders and their expansionary development strategies
In August 2018, the Brink an American security and protection company completes its acquisition of Dunbar Armored Inc. which was the fourth largest cash management company, for approximately USD 520 Million in cash
On January 18, 2023, Oshkosh Defense, LLC, an Oshkosh Corporation received an order from the U.S. Army Tank-Automotive and Armaments Command (TACOM) Life Cycle Management Command (LCMC) OF USD 141 Million order for 414 Family of Medium Tactical Vehicles A2 (FMTV A2) and 56 FMTV trailers. This helped the company to expand its presence in the armored vehicles upgrade and retrofit market
"Standards for Armored Car and Armed Courier Service is developed by the Private Security Advisory Council and its Armored Car Committee to promote realistic and viable minimum standards necessary to maximize the competency and effectiveness of armored car and armed courier services"
Key Target Audience
Original Equipment Manufacturers (OEMs), Regulatory Bodies, Component Suppliers, Homeland Security Agencies, Governments, Embassies, Vips, Banks and Distributors
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.