Armoured Personnel Carrier Market Scope
Armoured personnel carrier is vehicle used by defence and military for the transportation of people, goods and weapons during battle field or in sensitive areas. These carriers are able to with stand sudden attracts according to their different protecting level. These level named as B3, B4, B5, B6, and B7. Armoured personnel carrier classified into two major type namely amphibious, non-amphibious. It is manufacture into two types namely wheeled APC, tracked APC. Country increases investment in defence sector propels armoured personnel carrier market
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BAE Systems Plc (United Kingdom), General Dynamics Corporation (United States), FNSS Savunma Sistemleri A.Ş. (Turkey), Nurol Makina ve Sanayi A.Ş. (Turkey), Katmerciler A.S. (Turkey), DRB-HICOM Defence Technologies Sdn. Bhd (Malaysia), KMDB A.A. (Ukraine), Terradyne armoured Vehicles Inc. (Canada), Krauss-Maffei Wegmann GmbH & Co. KG (Germany), Hanwha Defence Systems (South Korea), Rheinmetall AG (Germany), Iveco- oto melara consortium (Italy), bruisertech (South Africa) and The Armored Group (United States) |
CAGR | % |
Armoured personnel carrier market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity. Further, companies are focusing on developing innovative products, increasing technological advancements and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
BAE Systems Plc (United Kingdom), General Dynamics Corporation (United States), FNSS Savunma Sistemleri A.Ş. (Turkey), Nurol Makina ve Sanayi A.Ş. (Turkey), Katmerciler A.S. (Turkey), DRB-HICOM Defence Technologies Sdn. Bhd (Malaysia), KMDB A.A. (Ukraine), Terradyne armoured Vehicles Inc. (Canada), Krauss-Maffei Wegmann GmbH & Co. KG (Germany), Hanwha Defence Systems (South Korea), Rheinmetall AG (Germany), Iveco- oto melara consortium (Italy), bruisertech (South Africa) and The Armored Group (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Armoured Personnel Carrier market by Type , by Application (Law Enforcement, Defence and Military and Commercial) and Region with country level break-up.
On the basis of geography, the market of Armoured Personnel Carrier has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2023, the Armored group acquired IF Armor International and its facility in Shelby, North Carolina. The Armored group manufacture and customize Armored vehicles. This strategic move helped company to expand its presence in armoured personnel carrier market
In December 2022, BAE Systems Plc signed joint agreement with Sweden, Germany, and the United Kingdom. Under this joint agreement BAE Systems provide 436 BvS10 all-terrain vehicles to Sweden, Germany, and the United Kingdom for USD 760 million. This strategic move helped company to expand its presence in armoured personnel carrier market
Influencing Trend:
Increasing Demand for Armoured Personnel Carrier by Remote Weapon Station
Market Growth Drivers:
Country Increases Investment in Defence Sector Propels Armoured Personnel Carrier Market and Increasing Demand for Armoured Personnel Carrier Due to Rising Terrorist Attacks
Challenges:
High Vibration and Noise
Restraints:
Increasing Number of Accidence While Using Armoured Personnel Carrier
Opportunities:
Increasing Number of Innovation and Advancement in Armoured Vehicle Technology
Key Target Audience
Armoured Personnel Carrier Manufacturers, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others