Armored Vehicle Market Increase In Asymmetric Warfare With Healthy CAGR Of ~7.1% With Top Key Venders 2030

Market Research Future Insights

Armored Vehicle Market Size estimated to attain USD 32.26 Billion  by 2030, registering a CAGR of 6.35% during 2020-2030.

An armored vehicle is a vehicle that is specifically designed and built to protect against various threats, such as bullets, explosives, and other types of attacks. Armored vehicles are used in a variety of applications, including military, law enforcement, and private security. They are typically equipped with armor plating, bulletproof glass, and other protective features to help protect the occupants and the vehicle itself.

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The COVID-19 pandemic has had some impact on the production and sales of armored vehicles, but the overall impact has been relatively limited. The demand for armored vehicles has remained relatively stable during the pandemic, as they are used in a variety of applications where protection is critical.

Key Players

Some of the key market players are BAE Systems, PLC, Lockheed Martin Corporation, Rheinmetall AG, International Armored Group, Krauss-Maffei Wegmann GmbH & Co., Elbit Systems Ltd, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, Mitsubishi Heavy Industries, Ltd, Oshkosh Corporation, and Diehl Defence GmbH & Co. KG.

Market Segmentation

The Global Armored Vehicle market has been segmented into product, system, and end user.

Based on the product, the market has been segmented into Defense Armored Vehicles and Commercial Armored Vehicles.

Based on the system, the market has been segmented into Drive Systems, Engine, Ballistic Armor, Ammunition Handling Systems, Turret Drives, Fire Control Systems (FCS), Countermeasure Systems, Armaments, Command & Control (C2) Systems, Observation & Display Systems, Hulls/Frames, Navigation Systems and Power Systems.

Regional Analysis

North America is expected to grow driven by several factors, including the increasing threat of terrorism and the ongoing conflict in the Middle East. As a result, many governments and organizations are looking to purchase armored vehicles to protect their personnel and assets. With the expected growth in the armored vehicle market, North America is expected to become a major hub for the production and export of these vehicles. Based on the end user, the market has been segmented into Commercial and Defense.

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