The global armored vehicle market is expected to show a remarkable growth rate by coming years. These vehicles help in protecting the personnel inside the vehicle from enemy fire. These vehicles are made up from various materials include metals, plastic, ceramic, glass, and composite. Armored vehicles are mainly used and are expected to remain a very important part in military operations. These vehicles provide ground forces with enhanced capabilities in terms of mobility, firepower and protection. One of the major factors contributing the growth of the global armored vehicle market is the threats from bordering countries, and the increasing defense spending, and internal insurgency problem. The commercial security consciousness is driving the demand for the global armored vehicle market. Armored vehicles include tanks, ships and aircrafts.

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The report contains the global scenario of armored vehicles market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the armored vehicle market size, production forecasts along with key factors driving and restraining the market.

The global armored vehicle market is segmented into two major categories, on the basis of product into main light protected vehicles, battle tanks, amphibious armored vehicles, unmanned ground vehicles and MRAP. On the basis of application the global armored vehicles market is segmented in to homeland security defense, and commercial. The market is further segmented by geography into North America, Asia Pacific, Europe and rest of the world regions. Among the regions, Asia-Pacific registered the fastest growth rate from 2013 to 2019. The Middle-East and some countries from Latin America are also expected to drive the growth of the global armored vehicle market. Countries in South America, Middle East and Asia are all investing in their future capabilities, with India being the most hopeful and important among these.

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The global armored vehicles market is driven by factors such as the internal and external security threats and commercial security consciousness. Other factors fuelling the growth of the global armored vehicles market are the technological trends and modernization.

Some of the factors inhibiting the growth of the global armored vehicles market are the uncertain financial environment and lack of clarity towards investment. The social aspects and political consideration are the critical concerns in the global armored vehicles market.
The indecisive government expenditure in Europe and North America and the fluctuating budget cuts are expected to affect the future of the global armored vehicle market.

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Some of the key players in the global armored vehicles market are BAE Systems, General Dynamics Corporation, Elbit Systems, Navistar International Corporation, Lockheed Martin, Textron, Inc., Oshkosh, Krauss-MaffeiWegmann, Iveco, and Rheinmetall Ag among others. Earlier the global armored vehicles market was dominated by players with relatively low brand image. However, after the entrance of new big players in the automobile industry the demand and curiosity for armored vehicles have increased among the end consumers.

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