Armored Vehicles Market Expected Size to Reach $21.97 Billion by 2026

Armored Vehicles Market Growth

OREGAON, PORTLAND, UNITED STATES , April 15, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Armored Vehicles Market by Application, Drive Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global Armored Vehicles Market size was valued at $15.96 billion in 2018, and is projected to reach $21.97 billion by 2026, registering a CAGR of 4.2% from 2019 to 2026.

Rising demand for armored vehicles owing to militarization of law enforcement agencies and increasing demand for bulletproof vehicles are the factors that are significantly impacting the growth of the global market. However, according to Armored Vehicles Market analysis, decreasing national defense budgets is restraining the growth of the market. In addition, adoption of unmanned combat vehicle and production of modular armored vehicles possess remarkable growth opportunities for the global market players.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/6211

The defense forces in this country are incorporating adoption of artificial intelligence in its armored vehicles for smooth and efficient operations in high risk situation. For instance, the U.S. army is using multiple targeting sensors in armored vehicles to destroy long-range targets by using forward positioned armed robots to penetrate enemy defense and receive a weather-specific terrain map using nearby drones. In addition, the governments of various countries are investing and buying armored vehicles from the leading players operating in the market for defense forces, which in turn is expected to propel the Armored Vehicles Market Size growth. For instance, the Canadian Government has announced its plans to buy 360 combat support light armored vehicles (LAV) from a leading manufacturer of armored vehicles, General Dynamics Land Systems-Canada (GDLS-C).

The global armored vehicle market is segmented on the basis of application, drive type, vehicle type, and geography. Based on the application, the market is divided into defense and commercial. The commercial segment is expected to manifest the fastest CAGR of 5.4% through 2026. However, the defense segment dominated in 2018, contributing more than four-fifths of the total revenue.

On the basis of drive type, the market is categorized into wheel and track. The wheel segment is expected to portray the largest CAGR of 4.6% during the study period and held the largest share in 2018. The segment contributed to more than three-fourths of the market.

The global armored vehicle market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe is anticipated to register the fastest CAGR of 5.0% from 2018 to 2026. Moreover, the market across Europe held the lion’s share in 2018, contributing to more than one-third of the market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/6211

Leading vehicle manufacturers in armored vehicle industry are working with a focus on development of modular and scalable armored vehicles. For instance, BAE Systems, a leading producer of armored vehicles has developed modular armored tactical system that has a family of demountable interchangeable mission modules and electric transmission systems. The electric transmission systems provide advantages such as fuel efficiency, volume efficiency, increased stealth characteristics, and others. In addition, the modular and scalable design allows armored vehicles to be configured for different roles depending on different roles and mission. Thus, development and production of, modular armored vehicles hold a remarkable growth opportunity for the players operating in the global armored vehicles market.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐚𝐧𝐚𝐥𝐲𝐳𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐫𝐞

Oshkosh Defense, LLC,
BAE Systems,
Rheinmetall AG,
General Dynamics Corporation,
International Armored Group,
Krauss-Maffei Wegmann GmbH & Co. (KMW),
Lenco Industries, Inc.,
Lockheed Martin Corporation,
STREIT Group,

𝐏𝐔𝐑𝐂𝐇𝐀𝐒𝐄 𝐅𝐔𝐋𝐋 𝐑𝐄𝐏𝐎𝐑𝐓 𝐎𝐅 – https://www.alliedmarketresearch.com/armored-vehicles-market/purchase-options

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐟𝐨𝐫 𝐀𝐫𝐦𝐨𝐫𝐞𝐝 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

This study presents the analytical depiction of the global armored vehicles market analysis along with the current trends and future estimations to depict the imminent investment pockets.

The overall armored vehicles market opportunity is determined by understanding the profitable market trends to gain a stronger foothold.

The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.

The current window sensors market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.

Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the armored vehicle industry.

David Correa
Allied Market Research
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