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Armored Vehicles - Global Market Trajectory & Analytics

  • ID: 4805084
  • Report
  • April 2021
  • Region: Global
  • 400 Pages
  • Global Industry Analysts, Inc
Global Armored Vehicles Market to Reach $16.3 Billion by 2027

Amid the COVID-19 crisis, the global market for Armored Vehicles estimated at US$14.3 Billion in the year 2020, is projected to reach a revised size of US$16.3 Billion by 2027, growing at a CAGR of 2% over the analysis period 2020-2027. Combat Vehicles, one of the segments analyzed in the report, is projected to record a 1.9% CAGR and reach US$10.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Combat Support Vehicles segment is readjusted to a revised 1.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.9 Billion, While China is Forecast to Grow at 3.8% CAGR

The Armored Vehicles market in the U.S. is estimated at US$3.9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2027 trailing a CAGR of 3.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.3% and 1.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR.

Unmanned Armored Ground Vehicles Segment to Record 2.7% CAGR

In the global Unmanned Armored Ground Vehicles segment, USA, Canada, Japan, China and Europe will drive the 2.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2027, while Latin America will expand at a 3.5% CAGR through the analysis period.

Select Competitors (Total 43 Featured):
  • BAE Systems PLC
  • BMW AG
  • Elbit Systems Ltd.
  • Ford Motor Company
  • General Dynamics Corporation
  • Lockheed Martin Corporation
  • Mercedes-Benz
  • Oshkosh Defense
  • Textron Inc.
Frequently Asked Questions about the Global Market for Armored Vehicles

What is the estimated value of the Global Market for Armored Vehicles?

The Global Market for Armored Vehicles was estimated to be valued at $14.3 Billion in 2020.

What is the growth rate of the Global Market for Armored Vehicles?

The growth rate of the Global Market for Armored Vehicles is 1.9%, with an estimated value of $16.3 Billion by 2027.

What is the forecasted size of the Global Market for Armored Vehicles?

The Global Market for Armored Vehicles is estimated to be worth $16.3 Billion by 2027.
Note: Product cover images may vary from those shown

  • Influencer Market Insights
  • World Market Trajectories
  • Perils of International & Internal Conflicts Keeps the Armored Vehicles Market Afloat
  • Least Peaceful Countries in the World
  • Countries Most Affected by Terrorism
  • Armored Vehicles
  • Impact of Covid-19 and a Looming Global Recession
  • Rise of Asymmetric Wars Poised to Shape Future of the Armored Vehicles Market
  • Increasing Military Spending Continues to Fuel Growth
  • Exhibit 1: Defense Spending Budgets of Major Worldwide Economies
  • India and Japan Boost in Military Outlay Amid Tensions with China
  • Increasing Demand for MRAP Vehicles
  • Armed Robotic Ground Vehicles Gains Prominence
  • High Mobility Multi-purpose Wheeled Vehicles, Centerpiece of Vehicular Force Modernization
  • Armored Vehicle Lethality Fine-tuned to Combat in Dense Urban Environments
  • Mobility Critical for Future Warfare
  • Civilian Armored Vehicles Securing Elite Personalities
  • Technological Advancements Bolster Market Growth
  • Self-Defense of Armored Vehicles
  • Scarabée Comes with Free Range of Movement
  • Competition
  • Leading Main Battle Tanks
  • Major Armored Personnel Carriers
  • Key Infantry Fighting Vehicles
  • Select Amphibious Assault Vehicles
  • Armored Vehicles Market Scenario in Europe
  • Fragmented European Defense Sector Shows Signs of Consolidation
  • Lithuania Embarks on Ambitious Modernization Plan
  • Political Instability & Terror Threats Offer New Opportunities to Turkish Armored Vehicles
  • Future Ready Combat Vehicles to Replace Existing T-72 Tanks in India
  • Latin America Shifts its Focus from Heavy Battle Tanks to Sophisticated Light Armored Vehicle Platforms


  • Total Companies Profiled: 43
Note: Product cover images may vary from those shown