Global Armored Vehicles Market Trend, Size, Share, Trends, Growth, Report and Forecast 2023-2028

Global Armored Vehicles Market Trend, Size, Share, Trends, Growth, Report and Forecast 2023-2028

April 5, 2024

The Global Armored Vehicles Market is expected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. MarkNtel Advisors’ recently published versions of the study on the Global Armored Vehicles Industry (2023-2028) have been closely monitored. The factual data related to it has been intensively crafted, conducting primary and other market research processes & strategies.

Essential Parameters

  • Timeframe and Metrics
  • Historical Period: 2018-21
  • Base Year: 2022
  • Forecast Years: 2023-2028
  • Units: USD Million/Billion
  • Our goal is to offer clients with relevant and up-to-date information. To achieve this, our skilled analysts and researchers conduct thorough studies on the industry.
  • Before creating a roadmap or checklist for the research report, we seek to understand the client’s perspective and objectives.
  • The figures in our reports are tailored with input from industry experts, ensuring our reports are comprehensive solutions for clients.
  • We use both primary and secondary research approaches to gather unbiased and comprehensive market information.

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Global Armored Vehicles Market Key Driver:

Rising Defense Budget and Cross-Border Disputes in Numerous Countries – Increasing defense expenditure and budget in several countries with rising cross-border disputes has primarily driven the market. The prevalence of conflicts, terrorist activities, and wars worldwide requires numerous countries to strengthen their military equipment and vehicles, fueling market expansion. Likewise, growing emphasis on the sustainability of military vehicles and personnel safety through added advanced safety features with increasing humanitarian missions also adds to the market acceleration.

Analyzing the Segmentations for the Global Armored Vehicles Market

Knowing the fragmentation of the market makes one understand the versatility & nature of the industry in a very detailed and informed way. This section of the research report talks about how every segmentation plays a role in enhancing the market share & size. Read further to get familiar with the market segmentations:

By Platform

-Combat Vehicles

-Main Battle Tanks

-Infantry Fighting Vehicles

-Armored Personal Carriers

-Armored Amphibious Vehicles

-Mine-Resistant Ambush Protected Vehicles

-Light Armored Vehicles

-Others (Self Propelled Howitzers, Air Defence Vehicles, etc.)

-Combat Support Vehicles

-Armored Supply Trucks

-Armored Command and Control Vehicles

-Repair and Recovery Vehicles

-Others (Bridge laying Tanks, Mine Clearance Vehicles, etc.)

-Unmanned Armored Ground Vehicles

By System


-Turret Drives

-Ammunition Handling Systems

-Fire Control Systems


-Ballistic Armor

-Countermeasure System

-Command and Control System

-Power System

-Others (Navigation System, Observation and Display Systems, etc.)

By Type



By Mode of Operation



By Mobility





-Others (10X10, 12X12, etc.)


By Sales Channel



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Exploring the Geographical Landscape of the Global Armored Vehicles Industry

Our skilled researchers and analysts provide a detailed overview of each region or country, to help stakeholders understand the market status in these areas. They are:

-North America

-South America


-The Middle East & Africa


Do You Know Who are the Leading Companies in the Global Armored Vehicles Market?  

Key competitors are the major role-players of any market, working to innovating & expanding the industry landscape. Look below to know about the Global Armored Vehicles Market companies:

-L3Harris Technologies, Inc.

-Hanwha Group

-General Dynamics Corporation

-Lockheed Martin Corporation

-Northrop Grumman

-Oshkosh Defense, LLC

-BAE Systems

-Thales Group

-ST Engineering

-Mitsubishi Heavy Industries

-Textron Systems

-Denel Soc Ltd



-Iveco Defence Vehicles


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Key Questions Addressed in the Global Armored Vehicles Market Research Report:

  • What is the estimated size, share, and CAGR of the Global Armored Vehicles Market in the forecast period?
  • What are the key trends projected to impact the Global Armored Vehicles Market during 2023-2028?
  • What are the different segments & sub-segments considered in the Global Armored Vehicles Market research study?
  • Who are the key stakeholders and players participating in the Global Armored Vehicles Market?
  • What are the major aspects creating opportunistic arena for the Global Armored Vehicles Market?
  • What would be the demand for different types of products/services in the Global Armored Vehicles Market through 2028?
  • What all factors would create challenge for the Global Armored Vehicles Industry growth?

About Us-

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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