Middle East and Africa 8X8 Armoured Vehicle Market Report and Forecast 2024-2032

Middle East and Africa 8X8 Armoured Vehicle Market Report and Forecast 2024-2032

Market Outlook

According to the report the Middle East and Africa 8X8 armoured vehicle market is projected to grow at a CAGR of 5.20% between 2024 and 2032 to reach a value of about USD 2.68 billion by 2032. Aided by the escalating regional security concerns and the technological advancements in defense vehicle manufacturing, the market is expected to grow significantly by 2032.

The 8X8 armoured vehicle, an integral component of modern defence systems, is an eight-wheeled military vehicle used for multiple purposes including, but not limited to, troop transportation, reconnaissance, and combat. These vehicles are particularly valued for their combination of mobility, protection, and firepower. The turbulent geopolitical climate in several parts of the Middle East and Africa necessitates the deployment of such vehicles, thereby influencing the Middle East and Africa 8X8 armoured vehicle market outlook.

In recent years, there has been an increasing demand for advanced defence solutions in the Middle East and Africa, prompted by regional conflicts, peacekeeping missions, and anti-terrorist operations. The need for highly mobile and protected military units has catalysed the demand for 8X8 armoured vehicles, capable of navigating challenging terrains while offering protection against multiple threats.

The integration of state-of-the-art technology into these armoured vehicles is another pivotal factor spurring Middle East and Africa 8X8 armoured vehicle market growth. Advanced communication systems, enhanced firepower capabilities, night vision systems, and integrated command and control systems are now standard features in newly manufactured 8X8 armoured vehicles, enhancing their efficacy on the battlefield.

Moreover, the collaborative efforts between Middle Eastern and African countries with global defence giants have led to customised vehicle designs tailored to address region-specific challenges. Joint ventures and partnerships have not only facilitated technology transfer but have also aided in the indigenisation of defence production in several nations.

Furthermore, the rise in defence budgets across several countries in the region reflects the commitment to upgrading military hardware, including the procurement and modernisation of 8X8 armoured vehicles. Nations like Saudi Arabia, UAE, and South Africa have been at the forefront of such initiatives, demonstrating the potential for market expansion.

Nevertheless, the inherent need for securing national borders, peacekeeping missions under the aegis of international bodies, and regional collaborations for shared defence goals will continue to fuel the Middle East and Africa 8X8 armoured vehicle market demand. As the region grapples with a mix of conventional and asymmetric threats, the 8X8 armoured vehicle will remain an indispensable asset in the defence arsenal, ensuring that the market trajectory remains upward.

Market Segmentation

The market can be divided based on product, application, and country.

Market Breakup by Product

• Armoured Personnel Carrier (APC)
• Infantry Fighting Vehicle (IFV)
• Light Protected Vehicle (LPV)
• Main Battle Tank (MBT)
• Mine-Resistant Ambush-Protected (MRAP)
• Tactical Vehicle
• Others

Market Breakup by Application

• Defence
• Homeland Security
• Commercial

Market Breakup by Country

• Saudi Arabia
• Iran
• Egypt
• South Africa
• Turkey

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Middle East and Africa 8X8 armoured vehicle market. Some of the major players explored in the report are as follows:

• BAE Systems
• General Dynamics European Land Systems
• Iveco Defence Vehicles
• Rheinmetall AG
• International Armored Group
• Others