About Military Armored Vehicles
The military armored vehicle is a lightweight wheeled armored fighting vehicle for reconnaissance, internal security, armed escort, and other subordinate battlefield tasks. It is fitted with partial or complete armor plating for protection against bullets, shell fragments and other projectiles. It is used for military use can move either on wheels or on continuous tracks. It is classified according to its role on the battlefield and characteristics.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Military Armored Vehicles market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oshkosh Corporation (United States), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (United States), BAE Systems plc (United Kingdom), NORINCO (China), Rheinmetall AG (Germany), Textron Inc. (United States), Elbit Systems Ltd. (Israel) and International Armored Group (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Military Armored Vehicles market by Type (Wheeled Military Armored Vehicles and Crawler Military Armored Vehicles), Application (Defense and Homeland Security) and Region.
On the basis of geography, the market of Military Armored Vehicles 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). If we see Market by Vehicle, the sub-segment i.e. Armored Personnel Carrier will boost the Military Armored Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drive Type, the sub-segment i.e. Wheel will boost the Military Armored Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in the Demand for Bulletproof Vehicles
Market Growth Drivers:
High Demand for Armored Vehicles from Developing Regions and Increased Terrorist Attacks Worldwide
Challenges:
Decreasing National Defense Budgets
Restraints:
High Cost of the Vehicles
Opportunities:
Increasing Demand for Military Armored Vehicles with Improved Technology and Military Modernization Plans Across the Globe
Market Leaders and their expansionary development strategies
In December 2023, The Organisation for Joint Armament Cooperation (OCCAR) has signed a contract with Arquus and Nexter, a company of KNDS, for the development of the Véhicule Blindé d’Aide à l’Engagement (VBAE) on behalf of the OCCAR VBAE Participating States Belgium and France.he VBAE is a new armored 4×4 vehicle that is expected to be similar to the US Army’s Joint Light Tactical Vehicle (JLTV) and is intended to replace the French Army’s Véhicule Blindé Léger (VBL).
In December 2019, Oshkosh Defense has received a contract from the United States Army Contracting Command to deliver joint light tactical vehicles (JLTVs) for the four US Military branches.
Key Target Audience
Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.