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 grow at a 1.9% CAGR to 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. This segment currently accounts for a 21.8% share of the global Armored Vehicles market.
The U. S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 3.8% CAGR for the Period of 2020-2027
The Armored Vehicles market in the U. S. is estimated at US$3.9 Billion in the year 2020. The country currently accounts for a 27.08% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.2 Billion in the year 2027 trailing a CAGR of 3.8% through 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 while Rest of European market (as defined in the study) will reach US$3.2 Billion by the year 2027.
Unmanned Armored Ground Vehicles Segment Corners a 14% Share in 2020
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. The publisher brings years of research experience to this 6th edition of our report. The 400-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others
- BAE Systems PLC
- BMW AG
- Elbit Systems Ltd.
- Ford Motor Company
- General Dynamics Corporation
- Lockheed Martin Corporation
- Oshkosh Defense
- Textron Inc.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Perils of International & Internal Conflicts Keeps the Armored Vehicles Market Afloat
Least Peaceful Countries in the World
Countries Most Affected by Terrorism
Global Competitor Market Shares
Armored Vehicles Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rise of Asymmetric Wars Poised to Shape Future of the Armored Vehicles Market
Increasing Military Spending Continues to Fuel Growth
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
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
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Armored Vehicles Market Share (in %) by Company: 2019 & 2025
Market Facts & Figures
European Armored Vehicles Market: Competitor Market Share Scenario (in %) for 2019 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 43
- AM GENERAL
- ARMORED GROUP, LLC, THE
- ARMORMAX, INC.
- ASELSAN A.S.
- ASHOK LEYLAND LTD.
- AVA ARMORY
- BAE SYSTEMS LAND & ARMAMENTS
- BAE SYSTEMS PLC
- BMC KIRPI
- BMW GROUP
- BMW AG
- CHAISERI METAL AND RUBBER CO., LTD.
- CSI ARMORING IN