Armored Vehicle Market Trend To Witness Booming Growth In Near Future
Market Overview:
Armored Vehicle Market Trend Size is expected to reach 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 Trend. 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.
Key Players:
PLC (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), International Armored Group (US), Krauss-Maffei Wegmann GmbH & Co. (Germany), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), INKAS Armored Vehicle Manufacturing (Canada), Mitsubishi Heavy Industries Ltd (Japan), Oshkosh Corporation (US), Diehl Defence GmbH & Co. KG (Germany).
Market Segmentation:
By System:
Ballistic Armor, Drive Systems, Engine, Ammunition Handling Systems, Armaments, Navigation Systems, Observation & Display Systems, Countermeasure Systems, Turret Drives, Hulls/ Frames, Fire Control Systems (Fcs), Power Systems, Command & Control (C2) Systems
By Product:
Ballistic Armor, Drive Systems, Engine, Ammunition Handling Systems, Armaments, Navigation Systems, Observation & Display Systems, Countermeasure Systems, Turret Drives, Hulls/ Frames, Fire Control Systems (Fcs), Power Systems, Command & Control (C2) Systems
By End User:
Commercial and Defence
Regional analysis:
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.
Full report @ https://www.marketresearchfuture.com/reports/armored-vehicles-market-3238
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