Armoured Fighting Vehicles Market
Armoured Fighting Vehicles Market Forecasts to 2030 - Global Analysis By Type (Armored Personnel Carrier (APC), Infantry Fighting Vehicle (IFV), Mine-Resistant Ambush Protected (MRAP), Main Battle Tank (MBT) and Other Types), By Application (Military, Commercial and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $24.1 BN |
|
Projected Year Value (2030) |
US $36.1 BN |
|
CAGR (2023 - 2030) |
5.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Armoured Fighting Vehicles Market is accounted for $24.1 billion in 2023 and is expected to reach $36.1 billion by 2030 growing at a CAGR of 5.9% during the forecast period. The Armoured Fighting Vehicles (AFV) Market encompasses the industry focused on the development, manufacturing, and distribution of military vehicles designed for the protection and offensive capabilities of ground forces. AFVs, such as tanks and armored personnel carriers, serve as vital assets in modern warfare, providing enhanced protection, mobility, and firepower. Their advantages lie in shielding personnel from enemy threats, enabling manoeuvrability on the battlefield, and bolstering mission success while minimizing soldier casualties.
According to the US Congressional Budget Office (CBO), the total acquisition costs for the US Army’s ground combat vehicles are forecasted to average about USD 5 billion per year through 2050, of which USD 4.5 billion for procurement and USD 0.5 billion for RDT&E.
Market Dynamics:
Driver:
Rising incidence of asymmetric warfare across the globe
Asymmetric conflicts often involve unconventional and guerrilla-style tactics, where insurgents or non-state actors employ hit-and-run strategies and ambushes. In such scenarios, AFVs become essential for providing both offensive capabilities and enhanced protection for military personnel, making them crucial tools for counterinsurgency operations. The demand for agile and well-armored vehicles that can navigate difficult terrains and withstand unconventional threats has increased, prompting military forces to invest in modern AFVs. This trend drives growth in the AFV market, with an emphasis on adaptability and improved defensive capabilities.
Restraint:
Occurrence of mechanical and electrical failure
These failures can lead to operational downtime, compromise mission readiness, and escalate maintenance costs. In the context of military operations, reliability is paramount, and any technical issues can put the safety of personnel and the success of missions at risk. Addressing these failures requires advanced diagnostics, robust maintenance procedures, and skilled personnel, all of which add to the overall lifecycle costs of AFVs. Consequently, these reliability concerns pose a considerable challenge for both manufacturers and military operators, influencing procurement decisions and necessitating ongoing innovation in the industry.
Opportunity:
Military modernization plans across the globe
As countries aim to enhance their defense capabilities, they prioritize the acquisition of technologically advanced AFVs to meet evolving security challenges. These modernization efforts often include the replacement or upgrade of existing armored fleets, driving demand for cutting-edge, highly capable vehicles that offer improved mobility, firepower, and protection. This trend provides an advantageous environment for AFV manufacturers to secure contracts and collaborations, fostering innovation and growth in the market as they strive to meet the diverse and increasingly sophisticated requirements of military forces worldwide.
Threat:
Hardware and software malfunctions
AFVs rely on complex systems that integrate advanced technology, including sensors, communication systems, and control software. Malfunctions in these critical components can compromise the vehicle's operational readiness and the safety of personnel. These issues can lead to costly maintenance, reduced mission effectiveness, and, in worst-case scenarios, endanger the lives of troops. To address this threat, manufacturers must invest in robust quality control, rigorous testing, and ongoing software updates to ensure the reliability and resilience of AFV systems, ultimately maintaining the confidence of military customers and sustaining market competitiveness.
Covid-19 Impact:
The COVID-19 pandemic had a notable impact on the Armoured Fighting Vehicles (AFV) market. It disrupted global supply chains, causing production delays and increasing costs due to lockdowns and restrictions. Military budgets in some regions were reallocated to address pandemic-related issues, affecting defense procurement plans. Furthermore, as governments grappled with economic challenges, defense spending came under scrutiny, potentially leading to delays or reductions in AFV acquisitions. However, the pandemic also highlighted the importance of military preparedness, potentially driving investments in advanced AFVs as nations seek to bolster their security capabilities in a post-COVID world, presenting both challenges and opportunities in the market.
The Main Battle Tank (MBT) segment is expected to be the largest during the forecast period
The Main Battle Tank (MBT) segment is expected to have a lucrative growth. As heavily armored, heavily armed, and highly mobile vehicles, MBTs are the backbone of ground warfare, offering superior offensive capabilities and unmatched protection for military personnel. Their versatility in a wide range of terrains and combat scenarios makes them indispensable assets for modern armed forces. MBTs continue to be a focal point for defense modernization efforts globally, with countries upgrading their existing fleets and developing next-generation MBTs to meet evolving security challenges, presenting both a significant market demand and an area of constant innovation within the AFV sector.
The military segment is expected to have the highest CAGR during the forecast period
The military segment is anticipated to witness the fastest CAGR growth during the forecast period. As the primary end-users, they significantly influence market dynamics through procurement decisions, setting the standards for AFV performance, protection, and mobility. Military modernization initiatives worldwide have accelerated the demand for technologically advanced AFVs to bolster national defense capabilities. Armed forces rely on these vehicles to ensure operational effectiveness, enhance troop safety, and address diverse security challenges. Collaborations with AFV manufacturers and extensive field testing are commonplace, contributing to ongoing innovations in the sector.
Region with largest share:
During the forecast period, it is expected that the North American Armoured Fighting Vehicles market will continue to hold a majority of the market share. It hosts a robust defense industry with a high demand for technologically advanced AFVs to support its military operations. The region is characterized by significant investments in modernization and the development of next-generation AFVs to address evolving security challenges. In particular, the United States, as a major player in the global defense sector, drives innovation and sets trends in AFV technology. The presence of numerous defense contractors and research facilities ensures a competitive market landscape, making North America a vital hub for AFV development and procurement, both for domestic use and exports.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period. Asia Pacific is a burgeoning hub in the Armoured Fighting Vehicles (AFV) market. The region's escalating geopolitical tensions, territorial disputes, and ongoing military modernization efforts have fuelled a substantial demand for advanced AFVs. Nations like China and India are investing heavily in upgrading their armored fleets, while Southeast Asian countries are focusing on enhancing their defense capabilities. The dynamic market in Asia Pacific attracts global defense manufacturers and spurs innovation in AFV technology. As a result, the region plays a pivotal role in driving the growth and competitiveness of the AFV market, with a focus on addressing diverse security challenges unique to the region.
Key players in the market
Some of the key players in Armoured Fighting Vehicles Market include BMC Otomotiv Sanayi ve Ticarest AS, Denel SOC Ltd., Elbit Systems Ltd., FNSS Savunma Sistemleri A.?., General Dynamics Corporation, Hanwha Corporation, Mitsubishi Heavy Industries Ltd., Nexter Group, Oshkosh Corporation, Patria Group, Rheinmetall AG and Textron Inc.
Key Developments:
In March 2023, Australian and German officials signed an agreement to cooperate on the procurement of the new combat reconnaissance vehicles, based on the Boxer family of armored fighting vehicles and equipped with a 30-millimeter gun. The deliveries will start in 2025.
In December 2022, Japan selected Patria-built armored modular vehicles (AMV) to replace the Type-96 8X8 wheeled armored personnel carriers of the Japan Ground Self-Defense Force.
Types Covered:
• Armored Personnel Carrier (APC)
• Infantry Fighting Vehicle (IFV)
• Mine-resistant Ambush Protected (MRAP)
• Main Battle Tank (MBT)
• Other Types
Applications Covered:
• Military
• Commercial
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2021, 2022, 2023, 2026, and 2030
- 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
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Armoured Fighting Vehicles Market, By Type
5.1 Introduction
5.2 Armored Personnel Carrier (APC)
5.3 Infantry Fighting Vehicle (IFV)
5.4 Mine-Resistant Ambush Protected (MRAP)
5.5 Main Battle Tank (MBT)
5.6 Other Types
6 Global Armoured Fighting Vehicles Market, By Application
6.1 Introduction
6.2 Military
6.3 Commercial
6.4 Other Applications
7 Global Armoured Fighting Vehicles Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 BMC Otomotiv Sanayi ve Ticarest AS
9.2 Denel SOC Ltd.
9.3 Elbit Systems Ltd.
9.4 FNSS Savunma Sistemleri A.?.
9.5 General Dynamics Corporation
9.6 Hanwha Corporation
9.7 Mitsubishi Heavy Industries Ltd.
9.8 Nexter Group
9.9 Oshkosh Corporation
9.10 Patria Group
9.11 Rheinmetall AG
9.12 Textron Inc.
List of Tables
1 Global Armoured Fighting Vehicles Market Outlook, By Region (2021-2030) ($MN)
2 Global Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
3 Global Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
4 Global Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
5 Global Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
6 Global Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
7 Global Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
9 Global Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
10 Global Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
11 Global Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
12 North America Armoured Fighting Vehicles Market Outlook, By Country (2021-2030) ($MN)
13 North America Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
14 North America Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
15 North America Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
16 North America Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
17 North America Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
18 North America Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
19 North America Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
20 North America Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
21 North America Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
22 North America Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
23 Europe Armoured Fighting Vehicles Market Outlook, By Country (2021-2030) ($MN)
24 Europe Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
25 Europe Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
26 Europe Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
27 Europe Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
28 Europe Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
29 Europe Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
30 Europe Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
31 Europe Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
32 Europe Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
33 Europe Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
34 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Country (2021-2030) ($MN)
35 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
36 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
37 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
38 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
39 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
40 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
41 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
42 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
43 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
44 Asia Pacific Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
45 South America Armoured Fighting Vehicles Market Outlook, By Country (2021-2030) ($MN)
46 South America Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
47 South America Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
48 South America Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
49 South America Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
50 South America Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
51 South America Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
52 South America Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
53 South America Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
54 South America Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
55 South America Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
56 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Country (2021-2030) ($MN)
57 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Type (2021-2030) ($MN)
58 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Armored Personnel Carrier (APC) (2021-2030) ($MN)
59 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Infantry Fighting Vehicle (IFV) (2021-2030) ($MN)
60 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Mine-Resistant Ambush Protected (MRAP) (2021-2030) ($MN)
61 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Main Battle Tank (MBT) (2021-2030) ($MN)
62 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Other Types (2021-2030) ($MN)
63 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Application (2021-2030) ($MN)
64 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Military (2021-2030) ($MN)
65 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Commercial (2021-2030) ($MN)
66 Middle East & Africa Armoured Fighting Vehicles Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
List of Figures
Figure 1 Global Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 2 North America Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 3 US Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 4 Canada Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 6 Europe Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 7 Germany Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 8 UK Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 9 Italy Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 10 France Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 11 Spain Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 14 Japan Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 15 China Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 16 India Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 17 Australia Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 21 South America Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 24 Chile Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 28 UAE Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Armoured Fighting Vehicles Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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