The Armored Personnel Carrier Market is driven by emerging threats of terrorism
Armored personnel carriers (APCs) are armored fighting vehicles designed to transport troops and provide protective armor in combat environments. APCs utilize heavy armor plating to protect embarked infantry against projectiles and explosions. Ballistic protections ranges from small arms fire to heavy artillery fire depending on the model. Some variants are designed with weapon mounts to provide supporting fire for dismounted troops. APCs balance strategic mobility with protection and allow infantry units to safely maneuver around the battlefield.
The armored personnel carrier market is estimated to be valued at USD 11.29 Bn in 2024 and is expected to reach USD 19.23 Bn by 2031. It is expected to grow at a compound annual growth rate (CAGR) of 7.90% from 2024 to 2031.
One of the key drivers for the Armored Personnel Carrier Market is the rising threats of terrorism across the world. Non-state actors have employed vehicle-borne explosives, suicide bombings, and ambushes against both military and civilian targets. This has encouraged many nations to equip domestic security forces with protected mobility. In overseas conflicts, APCs are indispensable for undertaking patrols, checkpoints and convoy security in volatile regions. Their protection allows dismounted operations to be conducted with reduced vulnerability. Therefore, counterterrorism missions will sustain demand for these armored fighting vehicles over the forecast period.
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