Armored Vehicles Upgrade and Retrofit Market Forecasts to 2028 – Global Analysis By Vehicle Type (Light Protected Vehicles, Amphibious Armored Vehicles), Application (Military, Commercial) and By Geography
According to Stratistics MRC, the Global Armored Vehicles Upgrade and Retrofit Market is growing at a CAGR of 6.0% during the forecast period. Some of the factors such as the rise in terrorism and hostile activities, increasing swap reduction in military vehicles, rising number of terror organizations and growing demand for commercial aircraft windows and windshields are driving the market growth. However, restricted on-vehicle network capabilities are some of the factors hindering market growth.
Armored vehicles contain land combat and vehicles utilized by services land forces for operations such as transporting cargo and military personnel and operating in active combat. These vehicles hold the country’s military forces and also act as a safe means for dealing with the present state of violence.
Based on the vehicle type, the armored fighting vehicle segment is estimated to have a lucrative growth during the forecast period. The vehicle protected by the strong defensive covering made of metal and used in battle and armed with weapons, suspicious capabilities and tactical offensive.
By geography, North America accounted for the largest market share in which the United States is dominating the region owing to the large base of armored military vehicles and rise of ISIS and the active involvement of the U.S. troops in many other parts of the world.
Some of the key players profiled in the Armored Vehicles Upgrade and Retrofit Market include AM General, BAE Systems, CMI Group, Diehl Defence, Elbit Systems, FNSS Savunma Sistemleri, General Dynamics Corporation, Krauss-Maffei Wegmann, MKU, Navistar Inc, Nexter Group, Oshkosh Defense, Palbam, Rheinmetall AG, RUAG Group, Sabiex International, Textron Inc., and Thales Group.
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Tables, Graphs & Figures
Design, Vehicle Type, Amour Level Type, Sales Channel, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Wheeled Armored Vehicles
• Tracked Armored Vehicles
Vehicle Types Covered:
• Armored Personnel Carrier (APC)
• Infantry Fighting Vehicle (IFV)
• Main Battle Tank (MBT)
• Mine-Resistant Ambush Protected (MRAP)
• Light Protected Vehicles
• Amphibious Armored Vehicles
• Tactical Truck
• Assault Amphibious Vehicles (AAV)
• Armored Recovery Vehicle
• Armored Fighting Vehicle
Amour Level Types Covered:
• Mine Resistant
• Light Armored
• Armor Piercing Rifle
Sales Channels Covered:
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Armored Vehicles Upgrade and Retrofit Market are majorly driven by the increasing swap reduction in military vehicles and the growing number of terror organizations.
The infantry fighting vehicle (IFV) segment is growing at the highest CAGR due to the improvement of fire control, firepower, and functional characteristics of the aging infantry fighting vehicles.
North America dominated with a significant market share due to the large base of armored military vehicles and the active involvement of the U.S. troops in many other parts of the world.
Asia Pacific market is growing at the highest CAGR due to the increasing investments in the modernization of military troop equipment, increased mobility, and protection of land troops.
Key players in Armored Vehicles Upgrade and Retrofit Market include AM General, BAE Systems, CMI Group, Diehl Defence, Elbit Systems, FNSS Savunma Sistemleri, General Dynamics Corporation, Krauss-Maffei Wegmann, MKU, Navistar Inc, Nexter Group, Oshkosh Defense, Palbam, Rheinmetall AG, RUAG Group, Sabiex International, Textron Inc., and Thales Group.
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