Market Scope:

Armored vehicles are security vehicles used for transport under armed security and even by replacing standard windows with bulletproof glass motor vehicle with a high degree of security. Increasing internal & external security threats and increasing violence are driving global armored vehicle market. Moreover, increasing defense expenditure, especially in emerging economies and increasing popularity of rental & leasing of armored cars among civilians, support the growth of the market while the lack of regulatory standards across the globe acts as a major driver for the market.

Taste the market data and market information presented through more than 20 market data tables and 15 figures spread over 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Armored Vehicles Report -Forecast to 2023”.

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Key Companies:

The prominent players in the armored vehicles market include General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K.), Lockheed Martin (U.S.), Elbit Systems Ltd, Textron (U.S.), WELP Armouring (Germany), Denel Land Systems (South Africa) Oshkosh Corporation (U.S.), INKAS Armored Vehicle Manufacturing (Canada) and Thales Group

Market Research Future Analysis:




Market Research Future analysis projects a growth of USD 32.26 Billion for the global armored vehicles market by the end of the forecast period. Additionally, the advent of technology and improvement of multirole vehicles have also influenced the demand for armored vehicles among various law enforcement agencies worldwide. Moreover, the increase in defense funds of emerging countries reflect positively on the growth of the global armored vehicles market. Globally, North America market has emerged as the leading region in terms of value, followed by APAC and Europe. Huge defense funds, and rising investment in the R&D of modern military vehicles are some of the main drivers, which help in market growth. Affluent families in Latin America equipping their vehicles with bullet-proof windows so as to keep their families safe is a new trend.

Industry News:

Electric vehicle production has been highly rampant due to higher fuel efficiency and low maintenance costs. In April 2019, Otokar, a Turkish company, has introduced an electric armored vehicle, the Akrep II. Its advantages over traditional vehicles can be paramount in enhancing the defensive strength of the Turkish army. Furthermore, the agreement between Qinetiq and the U.S. Office of Naval Research for developing electric armored reconnaissance vehicles is further proof of the technology being used in the future.

Geographical Scope:

Region-wise, the market covers locations of Asia Pacific, Europe, North America, the Middle East & Africa (MEA), and Latin America.

The North America and Europe regions can attain the highest market demand thanks to international peace treaties signed between countries to secure their borders. In addition, rising cases of insurgencies and terrorism is likely to trigger the demand for armored vehicles. In 2019, the U.S. Army is planning to increase its armored vehicle count in order to heighten its defense forces. The Stryker combat vehicles are light and can be deployed to engage in quick combat to far away outposts.

The Asia Pacific region can command high demand due to increased defense budgets of countries such as China, India, and Australia. Recently, the Australian army has decided to acquire infantry vehicles which can act as a suitable replacement for their legacy tanks. The replacement of legacy vehicles would increase their graduation from peacekeeping roles to a more offensive one. Lack of common standards has culminated in unauthorized companies setting base in the region and offering stiff competition to defense product manufacturers.

The Latin America region has the latent potential for commercial applications. Cars by Ford, Volkswagen, and Fiat have protectors and available in the mid-range price section. The spiraling crime rates have ensured the continuous engagement of plate manufacturers such as Kevlar in the production of these cars. But the high prices of these cars have resulted in a haircut in the bottomline margins of manufacturers.

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