Stratview Research has published a new report titled ‘Armored Vehicle Market’ to its database. It has segmented the market By Platform (Combat and Combat Support Vehicles), By Mode of Operation (Manned and Unmanned), By Type (Conventional and Electric), By Mobility (Tracked and Wheeled) and by Region (North America [The USA, Canada, and Mexico], Europe, and Rest of the World [Brazil, Saudi Arabia, and Others]).

Market Segments' Analysis

The market researchers have studied the Armored Vehicle Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information -

Based on the platform type, the market is bifurcated into combat, combat support vehicles and unmanned armored ground vehicles. The combat vehicles are expected to remain the biggest market for armored vehicle in the forecast period. These vehicles are frequently used for vehicles by military to ensure safety in case of an ambush or attack.

Based on the mobility type, the market is segmented as tracked and wheeled. The tracked mobility accounts for the largest market share in 2021, increasing demand for 4x4 armored vehicles transportation and ISR. For instance, In May 2020, China North Industries Group Corporation has developed airdrop capable four wheeled armoured vehicle. At the same time, the tracked segment is expected to experience the highest growth during the forecast period. 

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Key Players of the market:

  • Bae Systems Plc
  • China North Industries Corporation (Norinco)
  • Denel Soc Ltd.
  • General Dynamics Corporation
  • Hanwha Corporation
  • Hyundai Rotem

In terms of region, the North America is likely to maintain its supremacy in the armored vehicle market throughout the forecast period. This is mostly due to the high defense budget and spending to strengthen the armed forces. The spending is mainly for the procurement of advanced defence vehicles and modernization of defence fleet. Furthermore, the presence of major market players is also contributing towards the growth.

Highlights of the report:

The report also highlights the following segments -

-          The market structure and forecasts for the coming years.

-          Drivers, restraints, opportunities, and current trends of Armored Vehicle Market.

-          Historical data and forecast.

-          Estimations for the forecast period 2028.

-          Developments and trends in the market.

Our market research experts have studied the ARMORED VEHICLE Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-chain, pricing trends, product preferences, consumer patterns & more. The findings are further validated through primary research with industry experts across the globe.

Reasons to Invest in this Report:

-          The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period.

-          Segments include quantitative, qualitative, and value data.

-          Regional, and country level data includes the demand and supply forces along with their influence on the market.

-          The competitive landscape comprises share of key players, new developments, and strategies in the last three years.

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