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

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

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.

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