Global Vehicle Armor Market By Technology (Vehicle Information Integration, Situational Awareness System, Inter Operable Communication, Active Protection System, Modular Ballistic Armor, Active Mine Protection, Electric Armor), Type (Mine Resistant Ambush Protected Vehicles, Armored Amphibious Vehicles, Armored Personnel Carriers, Infantry Fighting Vehicles, Light Protected Vehicles, Main Battle Tanks, Other Types), Application (Commercial, Law Enforcement, Military), Level of Protection (B4 Level Protection, B5 Level Protection, B6 Level Protection, B7 Level Protection, Other)
Market Definition: Global Vehicle Armor Market
Vehicle armors are usually found in the military vehicle so that they can protect it from bullets, missiles, shells and others. These armors are also used in vehicles which are used in the conflicting areas. Vehicle information integration, inter operable communication, active mine protection, electric armor, and other are some of the technology used in the vehicle armor. They are widely used in ships, aircraft, and tanks.
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Market Drivers:
• Rising budgets in the defense sector will drive the market growth
• Technological advancement and development in manufacturing the vehicles also accelerate the growth of this market
• Increasing applications of the vehicle armor specially in military and army is also propelling the market growth
• Prevailing instances of cross-border conflicts augments the growth of armored vehicle market
Market Restraints:
• Lack of manufacturer of armored vehicle will restrain the market
• Challenge associated with the electrical and mechanical error in armored vehicle will also hamper the market
• Rising prices of raw materials, machining equipment and vehicle assembly is expected to hinder the market growth
Market Analysis: Global Vehicle Armor Market
Global vehicle armor market is set to witness substantial CAGR in the forecast period of 20169- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing application of vehicle armor and rising demand of vehicle armor in defense sector are the factor for the growth.
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Competitive Analysis:
Global vehicle armor market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vehicle armor market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Global Vehicle Armor Market
By Technology
o Vehicle Information Integration
o Situational Awareness System
o Inter Operable Communication
o Active Protection System
o Modular Ballistic Armor
o Active Mine Protection
o Electric Armor
By Type
o Mine Resistant Ambush Protected Vehicles
o Armored Amphibious Vehicles
o Armored Personnel Carriers
o Infantry Fighting Vehicles
o Light Protected Vehicles
o Main Battle Tanks
o Other Types
By Application
o Commercial
o Law Enforcement
o Military
By Level of Protection
o B4 Level Protection
o B5 Level Protection
o B6 Level Protection
o B7 Level Protection
o Other
Key Developments in the Market:
In September 2018, Texas Armoring Corporation announced that they are going launch their new facility at Honduras, Central America. The main aim of the launch is to provide better services to the government, corporate and other clients. This expansion will also help them to accelerate their growth in the market and fulfil all product offering
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