Product Code: RP-ID-10352108 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10352108
Market Overview:
Global Armored Vehicles Market Analysis & Outlook 2030
According to a report recently released by Kenneth Market Research entitled the Armored Vehicle Market by Application, Drive Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast for 2022-2030, the global armored vehicle market is estimated to be USD 20 billion in 2021, with a compound annual growth rate of 5% from 2022 to 2030. Europe dominates the market, followed by North America, LAMEA and Asia Pacific. Germany dominated the European armored vehicle market share in 2020 and is expected to maintain its leading position during the market forecast period. Global Market. However, according to the analysis of the armored vehicle market, the decline in the defense budget is restricting market growth. In addition, the adoption of unmanned combat vehicles and the production of modular armored vehicles have brought significant growth opportunities for global market participants.
The National Defense Forces is using artificial intelligence for fluid operations in its armored vehicles. -Risk situation. For example, the US military is using multiple direction sensors on armored vehicles to destroy remote targets by using front-armed robots to penetrate enemy defenses and using nearby drones to receive specific weather topographic maps. In addition, governments of many countries are investing in and purchasing armored vehicles from major players in the defense market, which in turn is expected to promote the growth of the armored vehicle market. For example, the Canadian government has announced plans to purchase 360 ​​light armored combat support vehicles (LAV) from the leading armored vehicle manufacturer Canada General Dynamics Land Systems (GDLS-C).
Wheels used for transportation or combat on the battlefield are considered to be the lower wheel section. Many countries are working to develop armored vehicles for reconnaissance, infantry transportation, fire support, medical evacuation, and many other applications, which in turn promotes the growth of the armored vehicle market. In addition, wheeled vehicles have higher performance, lower maintenance costs and better fuel economy than tracked vehicles. In addition, armored tracked vehicles operate on vehicle propulsion systems, in which continuous track shoes or belts are propelled by two or more wheels. In addition, the increasing demand for such military vehicles will drive the scale of the armored vehicle market, and major automakers in the armored vehicle industry are focusing on the development of modular and expandable armored vehicles. For example, leading armored vehicle manufacturer BAE Systems has developed a modular armored tactical system with a series of detachable interchangeable mission modules and electrical transmission systems. The electric drive system has advantages such as fuel efficiency, volumetric efficiency, and increased stealth characteristics. In addition, the modular and extensible design allows armored vehicles to be configured for different roles according to different roles and tasks. Therefore, the development and production of modular armored vehicles provides significant growth opportunities for participants operating in the global armored vehicle market.
Key Armored Vehicle Market Discovery:
Depending on the application, the commercial sector is expected to grow at a profitable growth rate. According to the type of drive, the wheeled segment is the largest contributor to 2020 revenue. By region, Europe is expected to have the highest compound annual growth rate during the forecast period of the armored vehicle industry. Region, Europe contributed the highest market revenue in 2020 and is expected to maintain its leading position in the armored vehicle market during the forecast period. The main players discussed in this report are Oshkosh Defense, LLC, BAE Systems, Rheinmetall AG, General Dynamics, International Armor Group, and Krauss-Maffei Wegmann Ltd. (KMW), Lenco Industries, Inc., Lockheed Martin Corporation, STREIT Group, INKAS Armored Vehicle Manufacturing, etc.
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