Armored Fighting Vehicle Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A technologically advanced vehicle having partial or complete armour plating for protection against bullets, shell fragments, and other projectiles is known as an armoured vehicle. Armored vehicles are mostly employed by the military and can go on wheels or on continuous rails. The majority of the world's military forces are still using old and ageing armoured vehicles. The armed forces are investing in new generation armed vehicle programmes with greater efficiency, lethality, and surveillance capabilities to replace the ageing armoured vehicle fleet. In Asia-Pacific, the Middle East, and Africa, there is a rising emphasis on strengthening local manufacturing capabilities. Local armoured vehicle producers are expected to expand their presence in the area market by developing new armoured vehicle variants.

MARKET SCOPE

The "Global Armored Fighting Vehicle Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the military marine vessel engines market with detailed market segmentation by wheel type, vehicle type, configuration and geography. The report provides key statistics on the market status of the leading Armored Fighting Vehicle Market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

- On the wheel type, the market is segmented into tracked and wheeled.
- Based on vehicle type, the market is segmented as armored personnel carrier, infantry fighting vehicle, mine-resistant ambush protected (MRAP) and others.
- Based on configuration, the market is segmented into amphibious and non-amphibious.

MARKET DYNAMICS

Drivers:

- Increasing Defense Spending and Procurement Programs in Asian Countries To Help Market Growth
- Increasing Border Conflicts to Increase Demand for Next-Generation Military Vehicles

Restraints:

- High Initial Cost Of Composite Materials

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Armored Fighting Vehicle Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Armored Fighting Vehicle Market in these regions

IMPACT OF COVID-19 ON ARMORED FIGHTING VEHICLE MARKET

Despite the huge economic impact of the COVID-19 pandemic, the market for armoured fighting vehicles remained unaffected, with procurement programmes on schedule and armoured vehicle sales and revenues slowly increasing for manufacturers. Growing geopolitical tensions and border difficulties between several countries in the Asia-Pacific, Europe, the Middle East, and Africa region are driving demand for new armoured vehicles to improve ground forces' combat capabilities. The majority of the world's military forces are still using old and ageing armoured vehicles. The armed forces are investing in new generation armed vehicle programmes with greater efficiency, lethality, and surveillance capabilities to replace the ageing armoured vehicle fleet.

MARKET PLAYERS

The report covers key developments in the Armored Fighting Vehicle Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Armored Fighting Vehicle Market are anticipated to lucrative growth opportunities in the future with the rising demand for Armored Fighting Vehicle in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Armored Fighting Vehicle Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BAE Systems PLc
- Denel Vehicle Systems
- Elbit Systems Ltd
- General Dynamics Corporation
- Mitsubishi Heavy Industries, Ltd.
- Nexter Group
- Oshkosh Defense, LLC
- Patria Group
- Rheinmetall AG
- Textron Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Armored Fighting Vehicle Report Scope