Armored Vehicle Market Trends: 6.35% CAGR, USD 32.26 Billion by 2030
Global Armored Vehicle Market Overview
Armored Vehicle Market Size estimated to attain USD 32.26 Billion by 2030, registering a CAGR of 6.35% during 2020-2030.
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 Armored Vehicle 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 2020”.
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 (Israel), Textron (U.S.), WELP Armouring (Germany), Denel Land Systems (South Africa) Oshkosh Corporation (U.S.), INKAS Armored Vehicle Manufacturing (Canada) and Thales Group (France)
Future Analysis By Report
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.
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