Future of Global Armored Vehicles Market: Key Dynamics, Size & Share Analysis
The Armored Vehicles Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. The market growth is majorly carried by the rising defense expenditure of several countries as a response to the rising geopolitical tension and cross-border disputes in numerous regions, leading to increased necessity for military vehicles with bulletproof and other features. In addition, technological advancement in combat vehicles, with added features providing more safety, the scope of modification, and advanced functionality, is adding to the market’s expansion.
Understanding the Core Segments in the Global Armored Vehicles Market
By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), By System (Engines, Turret Drives, Ammunition Handling Systems, Fire Control Systems, Armaments, Ballistic Armor, Countermeasure System, Command and Control System, Power System, Others), By Type (Electric, Conventional), By Mode of Operation (Manned, Unmanned), By Mobility (Wheeled, [4X4, 6X6, 8X8, Others], Tracked), By Sales Channel (OEM, Retrofit),
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Geographical Analysis of the Global Armored Vehicles Market
By Region
- North America
- Latin America
- Europe
- The Middle East & Africa
- Asia-Pacific
Who Dominates the Autonomous Global Armored Vehicles Market Insights on Key Industry Players?
Companies are strengthening their presence in the Armored Vehicless market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- L3Harris Technologies, Inc.
- Hanwha Group
- General Dynamics Corporation
- Lockheed Martin Corporation
- Northrop Grumman
- Oshkosh Defense, LLC
- BAE Systems
- Thales Group
- ST Engineering
- Mitsubishi Heavy Industries
- Textron Systems
- Denel Soc Ltd
- FNSS
- Arquus
- Iveco Defence Vehicles
- Others
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