Armored Vehicles Global Market Report 2022: North America Crowned as the Undisputed Leader of the Industry

Rhea-AI Summary

The report titled "Armored Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" has been released by ResearchAndMarkets. It highlights the ongoing growth in the demand for armored vehicles, which are vital in both defense and homeland security applications. Notably, North America is identified as the leading market, bolstered by a projected increase of US$ 1 Trillion in U.S. defense spending. The report categorizes armored vehicles into tracked and wheeled types, with wheeled variants gaining prominence for their varied applications beyond military use.

Positive

• North America is projected to lead the armored vehicles market, benefiting from increased U.S. defense spending of US$ 1 Trillion.
• The report indicates a growing demand in the homeland security sector, enhancing market potential.
• Wheeled armored vehicles are increasingly favored due to their broader applications and cost-effectiveness.

Negative

• None.

DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Armored Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to  ResearchAndMarkets.com's offering.

Industry Outlook

Armored vehicles can be defined as the combat or non-combat vehicles which are fitted with additional armor plating in order to provide protection from projectiles, bullets, grenades, shell fragments and mines among others. These vehicles are capable of facing live combat situations with little or no threat to the occupants of the vehicles.

Such vehicles are either equipped with guns with heavy caliber or are used for transportation of military personnel. Consequently, armored vehicles hold equal importance in combat as well as transportation applications and hence, the demand for such vehicles is experiencing a consistent surge.

Wheeled Armored Vehicles are Rolling Away with Major Share Against Tracked Armored Vehicles

Armored vehicles are majorly classified into two major categories based on their locomotive capability into tracked armored vehicles and wheeled armored vehicles. Tracked armored vehicles generally comprise of heavily armored tanks and personnel carriers and their application are quite limited to defense and border security.

On the other hand, wheeled armored vehicles have expanded there are of application beyond conventional war equipment are extensively used for homeland security and commercial applications. A major price and volume difference between the two variants helped wheeled armored vehicles to dominate the global armored vehicles market.

Defense Application Dominated but Homeland Security Proliferated

Armored vehicles witnessed a massive growth for homeland security in the past few years. Governments across the globe are equipping their homeland security forces including police and task forces with reliable armored vehicles. These vehicles proved instrumental time and time again in fights against anti-social elements and mob riots. Growth of armored vehicles for commercial applications is also evident due to the growth in private security services and bank owned security arrangements. However, defense is still the major consumers of armored vehicles and expected to retain its supremacy over the market throughout the forecast period from 2021 to 2030.

North America Crowned as the Undisputed leader of Global Armored Vehicles Market

Exaggerated spending on the overall defense budget in United States helped the growth of armored vehicles in the North American region. The U.S. is expected to boost its defense budget by US$ 1 Tn in coming years. Armored vehicles are one of the major components frequently procured by the country in order to safeguard its personnel in defense and homeland security. Asia Pacific trails North America in terms of market value in the overall armored vehicles market. Heavy territorial conflicts among the Southeast Asian countries and proliferation of terrorist activities certainly encouraged the demand for armored vehicles in this region. Other regions including Europe and Rest of the World are also contributing recognizable share in the global armored vehicles market.

Market Segmentation
Product

• Armored Personal Carriers (APC)
• Infantry Fighting Vehicle (IFV)
• Light Protected Vehicles (LPV)
• Battle Tank
• Mine-Resistant Ambush Protected
• Tactical Truck
• Bus & Vans
• SUV
• Luxury Vehicles

Mobility

• Tracked
• Wheeled

Application

• Commercial
• Homeland Security
• Defense

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Armored Vehicles market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Armored Vehicles market?
• Which is the largest regional market for Armored Vehicles market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Armored Vehicles market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Armored Vehicles market worldwide?

Key Topics Covered:

1. Preface

2. Executive Summary

3. Armored Vehicles Market: Competitive Analysis

4. Armored Vehicles Market: Macro Analysis & Market Dynamics

5. Armored Vehicles Market: By Product, 2020-2030, USD (Million)

6. Armored Vehicles Market: By Mobility, 2020-2030, USD (Million)

7. Armored Vehicles Market: By Application, 2020-2030, USD (Million)

8. North America Armored Vehicles Market, 2020-2030, USD (Million)

9. UK and European Union Armored Vehicles Market, 2020-2030, USD (Million)

10. Asia Pacific Armored Vehicles Market, 2020-2030, USD (Million)

11. Latin America Armored Vehicles Market, 2020-2030, USD (Million)

12. Middle East and Africa Armored Vehicles Market, 2020-2030, USD (Million)

13. Company Profile

Companies Mentioned

• BAE Systems
• BMW AG
• Elbit Systems
• General Dynamics Corporation
• Ford Motor Company
• Daimler AG
• Lockheed Martin Corporation
• Rheinmetall AG
• Thales Group
• Krauss-Maffei Wegmann GmbH & Co. (KMW)
• Navistar, Inc.
• INKAS Armored Vehicle Manufacturing
• Oshkosh Defense LLC
• Textron, Inc.
• International Armored Group
• Lenco Industries, Inc.
• STAT, Inc.
• IVECO..

For more information about this report visit https://www.researchandmarkets.com/r/sit241

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FAQ

What key insights does the armored vehicles market report provide for 2022?

The report provides insights on market size, growth trends, and competitive strategies, focusing on the period from 2022 to 2030.

How is the defense budget in the U.S. impacting the armored vehicles market for BAESY?

The U.S. is expected to increase its defense budget by US$ 1 Trillion, significantly boosting the demand for armored vehicles.

What regions are highlighted in the armored vehicles market report for BAESY?

North America is the leading region, followed by Asia Pacific, Europe, and others, with North America dominating due to defense spending.

What are the main applications for armored vehicles according to the report?

The main applications include defense, commercial purposes, and homeland security.

How do tracked and wheeled armored vehicles differ in the market?

Wheeled armored vehicles have a larger market share due to their versatility and cost advantages compared to tracked armored vehicles.