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Armored Vehicles MRO Market - Forecasts from 2019 to 2024

  • ID: 4849581
  • Report
  • 90 pages
  • Knowledge Sourcing Intelligence LLP
until Dec 31st 2019
1 of 4


  • Garage232
  • Ruag Group
  • Stark Motors
  • WELP Holding GmbH
  • MORE
Armored vehicles MRO market is projected to grow at a CAGR of 5.26% during the forecast period, reaching a total market size of US$7.461 billion in 2024 from US$5.485 billion in 2018. Armored vehicles are protected by uranium or stainless-steel and equipped with robust weapons, which needs proper maintenance, repair, and operations. Aging military equipment, internal and external security threats, and technological advancements are the drivers of the market. The armored personnel carrier (APC) MRO market has significant market share owing to multiple uses of APC. Countries are focusing on cost-cutting by overhauling existing APC instead of acquiring a new one. Investment in R&D is being done to improve the capabilities of MRO in armored vehicles. Global economic recessions are reducing the defense budget. However, low defense budgets have boosted the market of armored vehicles MRO industry, as countries are focusing on maintaining, repairing, and upgrading their existing vehicles instead of buying a new one. Geographically, North America region has significant market due to its continuous military operations are leading to wear and tear of the equipment. Technological advancements of existing equipment are also driving the market in the region. The market of the Asia Pacific region is expected to grow owing to increasing efforts of companies to modernize their equipment.

The Armored Vehicles MRO Market – Forecasts from 2019 to 2024 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by vehicle type and geography.

The armored vehicles MRO market on segmented based on vehicle type, and geography. by vehicle, the market has been classified into infantry fighting vehicle, main battle tank, armored personnel carrier, multirole armored vehicle, and others.

Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the service providers.

Major players in the armored vehicles MRO market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the Armored vehicles MRO market.


By Vehicle Type
  • Infantry fighting vehicle
  • Main battle tank
  • Armored personnel carrier
  • Multirole armored vehicle
  • Others
By Geography

North America
  • USA
  • Canada
  • Mexico
South America
  • Brazil
  • Argentina
  • Others
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others
Middle East and Africa
  • Israel
  • Saudi Arabia
  • Others
Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Others
Note: Product cover images may vary from those shown
2 of 4


  • Garage232
  • Ruag Group
  • Stark Motors
  • WELP Holding GmbH
  • MORE
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline

2.1. Research Design
2.2. Secondary Sources


4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness

5.1. Infantry fighting vehicle
5.2. Main battle tank
5.3. Armored personnel carrier
5.4. Multirole armored vehicle
5.5. Others

6.1. North America
6.1.1. USA
6.1.2. Canada
6.1.3. Mexico
6.2. South America
6.2.1. Brazil
6.2.2. Argentina
6.2.3. Others
6.3. Europe
6.3.1. Germany
6.3.2. France
6.3.3. United Kingdom
6.3.4. Spain
6.3.5. Others
6.4. Middle East and Africa
6.4.1. Israel
6.4.2. Saudi Arabia
6.4.3. Others
6.5. Asia Pacific
6.5.1. China
6.5.2. Japan
6.5.3. South Korea
6.5.4. India
6.5.5. Others

7.1. Market Positioning Matrix and Ranking
7.2. Strategies of Key Players
7.3. Recent Investments and Deals

8.1. Ruag Group
8.2. General Dynamic European Land Systems
8.3. INKAS Armored Vehicle Manufacturing
8.4. Stark Motors
8.5. International Armored Group
8.6. Garage232
8.7. International Armoring Corporation
8.8. WELP Holding GmbH
Note: Product cover images may vary from those shown
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4 of 4
  • Ruag Group
  • General Dynamic European Land Systems
  • INKAS Armored Vehicle Manufacturing
  • Stark Motors
  • International Armored Group
  • Garage232
  • International Armoring Corporation
  • WELP Holding GmbH
Note: Product cover images may vary from those shown
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The research study is based on the publisher's proprietary research model. The process involves sourcing of information from various industry experts, key professionals, decision-makers and various other stakeholders along with the validation of the responses received from the vast in-house database and premium paid databases. Publicly available sources were also taken into consideration for the final market estimates and forecast for the segments and sub-segments.

The first phase of the research process is the identification of key industry leaders, experts, decision-makers and C-level executives and then conducting interviews and surveys to gain vital insights about the market. Simultaneously, extensive secondary research is done, and key secondary data is collected as part of this process. This secondary data is collected from various databases, industry journals, whitepapers, company annual reports, research publications, and other paid data sources and relevant literature. Company profiles which include strategies, new product developments, recent investments, major products and services, financials and business plans are sourced from the annual reports, SEC filings, industry associations to preserve the quality of the information being displayed. The findings from both the primary and the secondary research process combined go under further processing for market breakdown and forecasting.

The last phase is providing intelligence in the form of presentation, charts, graphics and other different formats helping the clients in a faster and efficient understanding of the market. Under this phase complete market engineering is involved which includes analyzing the collected data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. The publisher has developed their market forecasting methodology that, in addition to the main market values, also takes into account other macroeconomic factors (global or local) that might have some bearing on the market under study. Taking all the necessary data, a robust forecast is developed using an algorithm that involves both static (multivariate) as well as dynamic (time-series) regression analysis. Special care is taken to make sure their algorithm passes the necessary statistical tests, and the mean prediction for future years obtained is reliable with a very high confidence level. Following data validation, the analysts begin to write the report presenting insights with the help of charts, graphs, and tables.