Armored Vehicles Market By Technology (Active Protection System, Inter Operable Communication, Modular Ballistic Armor, Electric Armor, Situational Awareness System, Active Mine Protection, Vehicle Information Integration), Type (Light Protected Vehicles, Infantry Fighting Vehicles, Armored Personnel Carriers, Armored Amphibious Vehicles, Main Battle Tanks, Mine Resistant Ambush Protected Vehicles, Others), Industry Trends, Estimation & Forecast, 2017 - 2025

December 2018

 ERC 8572


Armored Vehicles Market is expected to grow with a CAGR of XX% during the forecast period of 2018 to 2025.

An armored vehicle (AFV) is an armed combat vehicle covered by armor, combining operational mobility with tactical defensive capabilities. The increasing need in the deployment of military troops in harsh weather and combat conditions has led the development of armored vehicles within market. Further, development of IEDs and landmines have also compelled the market towards growth.

Market Determinants

Growing commercial applications of armored vehicles is the key factor stimulating the market growth. Further, militarization of law enforcement agencies and rise in warfare among various nations would also fuel the market. However, declining defense budgets of developed nations and increasing use of unmanned systems might restrict the market for further growth. Increasing research & development activities would further offer lucrative opportunities to the market.

Market Determinates – Impact Analysis

Segment Analysis

Global armored vehicles market is segmented on the basis of technology, type, application, and region. By type, the market is segmented as an active protection system, interoperable communication, modular ballistic armor, electric armor, situational awareness system, active mine protection and vehicle information integration. By type the market is categorized into light protected vehicles, infantry fighting vehicles, armored personnel carriers, armored amphibious vehicles, main battle tanks, mine resistant ambush protected vehicles, and others. By application, the market is classified as military, law enforcement, and commercial. Geographically, the global armored vehicles market is segmented as North America, Europe, Asia-Pacific, and Rest of the World.

R&D and investment are the key strategies adopted by the major market leaders in order to improve their market position. In 2014, Rheinmetall made a research and development investment of USD 242.28 million across the group. In May 2015, Rheinmetall and PolskaGrupaZbrojeniowa SA and its subsidiary, Obrum signed a cooperative agreement to develop new amphibious 6X6 armed automobile for the Polish military.
Top vendors of the market are BAE Systems, PLC, BMW AG, Elbit Systems, Ford Motor Company, General Dynamics Corporation, Lockheed Martin Corporation, Mercedes-Benz, Oshkosh Defense, Textron Inc., and Volkswagen AG.

Armored Vehicles Market Segmentation

By Technology
   • Active Protection System
   • Inter Operable Communication
   • Modular Ballistic Armor
   • Electric Armor
   • Situational Awareness System
   • Active Mine Protection
   • Vehicle Information Integration

By Type
   • Light Protected Vehicles
   • Infantry Fighting Vehicles
   • Armored Personnel Carriers
   • Armored Amphibious Vehicles
   • Main Battle Tanks
   • Mine Resistant Ambush Protected Vehicles
   • Others

By Application
   • Military
   • Law Enforcement
   • Commercial

By Geography
   • North America
   • Europe
   • APAC
   • Rest of the World

Armored Vehicles Market Key Market Players

• BAE Systems, PLC
• Elbit Systems
• Ford Motor Company
• General Dynamics Corporation
• Lockheed Martin Corporation
• Mercedes-Benz
• Oshkosh Defense
• Textron Inc.
• Volkswagen AG

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    What Information does this report contain?

    • What was the market size of the armored vehicles market in 2017 and the expected market size by 2025, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2017 - 2025)?
    • Which are the leading companies in the armored vehicles market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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