Dublin, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The "Armored Vehicles - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Armored Vehicles was valued at US$15.3 Billion in 2024 and is projected to reach US$20.1 Billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.



Which Emerging Trends Are Shaping the Development of Future Armored Vehicles?

The future of armored vehicles is being shaped by several emerging trends, driven by changing military needs, technological progress, and shifting geopolitical dynamics. One major trend is the increasing focus on modularity and adaptability, enabling armored vehicles to be quickly reconfigured with different armor, weapons, and sensor systems to meet specific mission requirements. This adaptability is essential for dealing with the varied and unpredictable nature of contemporary warfare.

Another significant trend is the development of hybrid and electric propulsion systems, aimed at reducing the logistical challenges and extending the operational range of armored vehicles. As warfare becomes more network-centric, there is also a growing emphasis on integrating armored vehicles into comprehensive command and control networks, facilitating real-time data exchange and coordinated operations.

Moreover, the rising demand for vehicles designed for urban combat is driving the development of smaller, more agile armored vehicles that offer enhanced protection in close-quarter engagements. These trends are pushing the boundaries of armored vehicle innovation, setting the stage for the next generation of ground warfare technology.

What Are the Key Drivers of Growth in the Armored Vehicles Market?

The growth in the armored vehicles market is driven by several critical factors that are closely linked to technological advancements, evolving military doctrines, and global security challenges.

First and foremost, the increasing prevalence of asymmetric warfare and urban conflict scenarios is driving demand for highly versatile and adaptable armored vehicles capable of performing in a wide range of environments. Secondly, advances in materials science and propulsion technology are significantly enhancing the capabilities of armored vehicles, making them more efficient, mobile, and resilient, thereby boosting their adoption by military forces around the world.

Additionally, rising global defense expenditures, particularly in emerging economies, are fueling investments in the modernization and expansion of armored vehicle fleets to address new security threats. Moreover, the growing need for armored vehicles in civilian sectors, such as law enforcement and private security, due to heightened concerns about terrorism and organized crime, is contributing to market growth.

These drivers, combined with ongoing innovations in vehicle design and protection systems, are ensuring the continued expansion and evolution of the armored vehicles market to meet the demands of modern security challenges.

Scope of the Study

The report analyzes the Armored Vehicles market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles); Mobility (Wheeled, Tracked); Type (Conventional, Electric); System (Armaments, Command & Control (C2) Systems, Engines, Ballistic Armor, Turret Drives, Drive Systems, Other Systems).

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Armored Combat Vehicles segment, which is expected to reach US$12.8 Billion by 2030 with a CAGR of a 4.5%. The Armored Combat Support Vehicles segment is also set to grow at 3.9% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $4.0 Billion in 2024, and China, forecasted to grow at an impressive 7.0% CAGR to reach $4.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as BAE Systems PLC, BMW AG, Elbit Systems Ltd., Ford Motor Company, General Dynamics Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Questions Answered:

• How is the Global Armored Vehicles Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 43 companies featured in this Armored Vehicles market report include:

• BAE Systems PLC
• BMW AG
• Elbit Systems Ltd.
• Ford Motor Company
• General Dynamics Corporation
• Lockheed Martin Corporation
• Mercedes-Benz
• Oshkosh Defense
• Textron Inc.

Key Attributes

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• Armored Vehicles - Global Key Competitors Percentage Market Share in 2024
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024
• Global Economic Update

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Rising Demand for Modular and Adaptable Armored Vehicles Expands Market Opportunities
• Advancements in Active Protection Systems Propel Growth in Armored Vehicle Capabilities
• Increasing Focus on Urban Warfare Drives Demand for Agile, Compact Armored Vehicles
• Expansion of Network-Centric Warfare Strengthens Business Case for Smart Armored Vehicles
• Growing Adoption of Unmanned and Autonomous Technologies Spurs Innovation in Armored Vehicles
• Rising Global Defense Expenditures Propel Market Growth for Armored Vehicles
• Here's How Asymmetric Warfare Trends Are Impacting Armored Vehicle Design
• Advancements in Lightweight Composite Materials Drive Adoption in Armored Vehicle Production
• Here's How Additive Manufacturing Is Expanding the Capabilities of Armored Vehicles

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/xhq6yo

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• Armored Vehicles Market