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Pulished Date April, 2021
ID: 10594
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Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), Mobility (Wheeled, Tracked), System (Engine, Drive Systems, Ballistic Armor, C2 Systems, Mode of Operation), Region - Forecast to 2026

Pulished: April, 2021
ID: 10594
Pages: 175

Armored Vehicles Market Share, Size, and Forecast 2026:

Armored Vehicles Market size is foreseen to an extent from USD 11.8 billion in 2021 to arrive at USD 15.6 billion by 2026, garnering a CAGR of 5.8% from 2021 to 2026. Increasing interest in armored vehicles because of the ascent in the happenings of cross-fringe clashes and rising frequencies of unbalanced fighting over the world are key factors driving the armored vehicles market growth. Nonetheless, the non-attendance of major OEMs of armored vehicles in the Middle East and Asia Pacific area and the event of mechanical, electrical, and different sorts of disappointment in armored vehicles are likely to obstruct the development of the market.

Armored Vehicles Market Drivers:

Topsy-turvy fighting alludes to fighting, wherein inverse gatherings or countries have inconsistent military assets, and more fragile adversaries utilize whimsical weapons and strategies to abuse the weaknesses of their foes. There has been a noteworthy ascent in uneven fighting over the globe over the previous decade because of political precariousness, strict, financial, and socio-social variables. The ascent in the occurrences of lopsided fighting has driven government offices to receive battle vehicles for self-security and guard against psychological militant or guerilla assaults as armored vehicles offer assurance against ballistic just as impact assaults. Also, these vehicles have turret firearm frameworks mounted on them to complete counter-rebellion tasks. For example, India is utilizing armored vehicles for completing its enemy of Naxalite tasks in east India. Subsequently, rising occasions of awry fighting are relied upon to prompt expanded acquisition of armored vehicles, internationally, accordingly driving the development of the armored vehicles market during the estimated time frame.

The interest in automated frameworks has expanded over the globe lately because of their developing use by military powers of various nations for doing Intelligence, Surveillance, and Reconnaissance (ISR) and battle tasks. Additionally, the declining protection spending plans of cutting-edge economies, for example, the UK, Italy, Spain, Germany, and France have prompted the expanded acquirement of automated frameworks to supplant their safeguard workforce, which utilizes huge volumes of hardware and calculated help.

Armored Vehicles Market Restraints:

The armored vehicle market is significantly moved in the North America and European areas, inferable from the presence of huge OEMs, for example, BAE Systems, General Dynamics, Rheinmetall, and Nexter Systems in these districts. Be that as it may, the armored vehicles market in the Middle East and the Asia Pacific is as yet rising because of the low homegrown creation of armored vehicles in these areas. This outcome in the reliance of nations, for example, Saudi Arabia, UAE, India, the Philippines, and Qatar on unfamiliar OEMs for armored vehicles. This outcome in the costly obtainment of armored vehicles, consequently bringing about a diminishing in their general interest.

The plan and improvement of primary fight tanks require adequate time, capital, and specialized mastery. Fundamental fight tanks are outfitted with impetus frameworks to empower their development toward their objectives. They are utilized for fire uphold by infantry fighters. The remarkable abilities of fundamental fight tanks that incorporate high lethality and improved mobility have prompted their expanded expenses. The significant expenses associated with the improvement of trend-setting innovations for primary fight tanks go about as a key test to the development of the armored vehicles market, particularly for rising economies, for example, India and China. The normal expense of a fundamental fight tank unit is around USD 6.0 million. These cost increments relying upon the serious details of weapons introduced on these tanks. Accordingly, makers favor prototyping of weapons and their segments before their advancement dependent on the worldwide interest for principle fight tanks as the disappointment of created models bring about enormous misfortunes.




Market Size Available

2021 – 2026

Base Year


Forecast Period

2021 - 2026



Segments Covered

Based on the platform, In light of the system

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Oshkosh Corporation (US), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (US), BAE Systems plc (UK), NORINCO (China), Rheinmetall AG (Germany), and Textron Inc. (US).

Armored Vehicles Market Segmentation:

The battle vehicle fragment is likely to lead the armored vehicles market from 2021 to 2026:

Based on the platform, the armored vehicles market is divided into combat vehicles, combat support vehicles, and unmanned armored ground vehicles. The combat vehicle fragment is expected to lead the global armored vehicles market during the anticipated time frame. Expanding interest for Armored Personnel Carriers (APCs) and Light Armored Vehicles (LAVs) over the globe is prompting the development of the battle vehicle fragment of the market.

The weapons fragment is supposed to lead the market during the estimated time frame:

In light of system, the armored vehicles market has been fragmented into motors, drive frameworks, ballistic covering, fire control frameworks, countermeasure frameworks, Command and Control (C2) frameworks, power frameworks, route frameworks, ammo dealing frameworks, perception, and show frameworks, and bodies/outlines. The combat hardware portion is assessed to lead the armored vehicles market from 2021 to 2026. The development of this segment can be credited to the expanded interest in distant weapon stations, Anti-tank Guided Missile (ATGM) launchers, and different combat hardware over the globe.

Regional Analysis:

The Asia Pacific armored vehicle market is extended to develop at the most elevated CAGR during the anticipated period:

The Asia Pacific armored vehicles market is estimated to develop at the highest CAGR from 2021 to 2026. The development of the market in this area can be credited to the rising number of fear-monger exercises and the expanding spending of rising economies on safeguard tasks. Nations, for example, India and China have expanded their guard spending plans and are securing progressed armored vehicles for their military tasks. This, thusly, is likely to drive the development of the Asia Pacific armored vehicles market during the foreseen period.

The ongoing coronavirus pandemic is relied upon to affect almost all the worldwide industries, including the military armored vehicles market. The whole gracefully fasten is disturbed because of a restricted flexibility of parts. Chinese providers around the world have set creation lines on stop or shut them down totally. Likewise, legitimate and exchange limitations, for example, fixed fringes, increment the deficiency of required parts. Such interruptions in the flexible affix is relied upon to influence the get-together of OEMs in Europe and North America.

Key Market Players:

Vital participants profiled in this report on the armored vehicles market incorporate Oshkosh Corporation (US), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (US), BAE Systems plc (UK), NORINCO (China), Rheinmetall AG (Germany), and Textron Inc. (US). Agreements and new item dispatches were key procedures received by the main players to accomplish development in the armored vehicles market.

COVID-19 Impact on Armored Vehicles Market:

The COVID-19 pandemic has caused a staggering sway on economies worldwide. The worldwide assembling of car parts, segments, and sequential construction systems has been seriously affected. Despite the fact that the creation of armored vehicles is of prime significance, interruptions in the graceful chain have hindered their assembling until further notice.

Continuing the assembling and conveyances of armored vehicles relies upon the degree of coronavirus presentation a nation is confronting, the level at which producing activities are running, and import-trade guidelines, among others. In spite of the fact that organizations may at present be taking in orders, conveyance timetables probably won't be fixed.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods   

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends   

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Armored Vehicles Market, By Platform   

                                6.1.1 Combat Vehicles  

                                6.1.2 Combat Support Vehicles 

    6.1.3 Unmanned Armored Ground Vehicles       

  6.1.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.5 Y-o-Y Growth Rate Analysis             

                                6.1.6 Market Attractiveness Index          

                6.2 Armored Vehicles Market, By Mobility   

                                6.2.1 Wheeled  

                                6.2.2 Tracked    

   6.2.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

                6.3 Armored Vehicles Market, By System 

                                6.3.1 Engine       

                                6.3.2 Drive Systems        

                                6.3.3 Ballistic Armor        

                                6.3.4 C2 Systems             

                                6.3.5 Mode of Operation             

   6.3.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.7 Y-o-Y Growth Rate Analysis             

                                6.3.8 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region  

                7.2 North America - Market Analysis (2021- 2026)   

                                7.2.1 By Country              



                                7.2.2 By Platform             

                                7.2.3 By Mobility              

                                7.2.4 By System

                7.3 Europe                         

                                7.3.1 By Country              






                                       Rest of Europe

                                7.3.2 By Platform             

                                7.3.3 By Mobility              

                                7.3.4 By System

                7.4 Asia Pacific                  

                                7.4.1 By Country              




                                       South Korea

                                       South East Asia

                                       Australia & NZ

                                       Rest of Asia-Pacific

                                7.4.2 By Platform             

                                7.4.3 By Mobility              

                                7.4.4 By System

                7.5 Latin America                             

                                7.5.1 By Country              




                                       Rest of Latin America

                                7.5.2 By Platform             

                                7.5.3 By Mobility              

                                7.5.4 By System

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                       Middle East


                                7.6.2 By Platform             

                                7.6.3 By Mobility              

                                7.6.4 By System

8. Key Player Analysis                                    

                8.1 Oshkosh Corporation                             

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 UralVagonZavod                      

                8.3 Ukroboronprom                       

                8.4 General Dynamics Corporation                          

                8.5 BAE Systems plc                       

                8.6 NORINCO                    

                8.7 Rheinmetall AG                        

                8.8 Textron Inc.                

9. Market Outlook & Investment Opportunities                                


                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Armored Vehicles Market By Region, From 2021-2026 ( USD Billion )
  2. Global Armored Vehicles Market By Platform, From 2021-2026 ( USD Billion )
  3. Global Combat Vehicles Market By Region, From 2021-2026 ( USD Billion )
  4. Global Combat Support Vehicles Market By Region, From 2021-2026 ( USD Billion )
  5. Global Unmanned Armored Ground Vehicles Market By Region, From 2021-2026 ( USD Billion )
  6. Global Armored Vehicles Market By Mobility, From 2021-2026 ( USD Billion )
  7. Global Wheeled Market By Region, From 2021-2026 ( USD Billion )
  8. Global Tracked Market By Region, From 2021-2026 ( USD Billion )
  9. Global Armored Vehicles Market By System, From 2021-2026 ( USD Billion )
  10. Global Engine Market By Region, From 2021-2026 ( USD Billion )
  11. Global Drive Systems Market By Region, From 2021-2026 ( USD Billion )
  12. Global Ballistic Armor Market By Region, From 2021-2026 ( USD Billion )
  13. Global C2 Systems Market By Region, From 2021-2026 ( USD Billion )
  14. Global Mode of Operation Market By Region, From 2021-2026 ( USD Billion )

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