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Armored Vehicles Market Worth 31.26 Billion USD by 2021, at a CAGR of 5.6%

[183 Pages Report] Armored Vehicles Market forecast & analysis report categorizes global market by Application (Defense, Commercial), Defense Products (MBT, LPV, AAV, MRAP, IFV, APC, Others), Commercial Products (SUV, Sedan, Limousine, Bus/Van, Others), Technology (Active, Passive), Type & by Geography.

 

Pune, India -- (SBWIRE) -- 05/31/2016 -- The global armored vehicles market is projected to grow from USD 23.75 Billion in 2016 to USD 31.26 Billion by 2021, at a CAGR of 5.6% during the period under consideration. This report covers the forecast of the market and its dynamics over the next five years, while also recognizing the market application gaps, recent developments in the market, and high potential countries. The armored vehicles market has been analyzed primarily on the basis of application (including defense - military and homeland security agencies and commercial- government, embassies, banks, VIPs) through the period of 2016 to 2021, considering 2015 as the base year.

Browse 84 market data Tables and 102 Figures spread through 183 Pages and in-depth TOC on "Armored Vehicles Market - Global Forecast to 2021"

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"Commercial segment dominates the armored vehicles market, among applications"

The global armored vehicles market is dominated by the commercial application segment, as of 2016, and is expected to continue its dominance till 2021. This dominance can be attributed to the rising incidences of civil unrest, political disputes, and terrorism that have driven governments, embassies, VIPs, and banks to procure more advanced and reliable armored vehicles for protection.

"The SUV segment to grow the highest during the forecast period"

The armored vehicles market has been segmented and analyzed in terms of product, namely, SUV, Sedan, Limousine, Bus/Van, among others. The global market is dominated by the SUV segment and this segment is also projected to grow at the highest CAGR during the forecast period, primarily driven by the increasing use of armored SUVs by government and embassy officials, VIPs, and in cash-in-transit applications, globally.

"Asia-Pacific and the Middle East to be the opportunistic markets for armored vehicles industry"

The Middle East and Asia-Pacific are expected to drive the growth of the global armored vehicles market in the coming years, with the Asia-Pacific market projected to grow at the highest CAGR during the forecast period, 2016 to 2021. This rapid growth of the Asia-Pacific market can be attributed to the increasing research and development activities undertaken in the region for the development of advanced and hybrid designs of armored vehicles for enhanced border and maritime patrolling or ISR functions, increasing military expenditures and military modernization programs of major economies of the region, and rising demand for light or medium-sized armored vehicles for patrolling operations, primarily owing to rising threats of cross-border terrorism.

The major players in the armored vehicles market have been identified as General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K.), Lockheed Martin (U.S.), and Elbit Systems (Israel), among others.

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The report segments and analyzes the armored vehicles market on the basis of application (Defense, Commercial), Product (Defense-Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine-resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, Others; Commercial- SUV, Sedan, Limousine, Bus/Van, Others) Type (Wheeled, Tracked, Others),), Technology (Active, Passive), & Region and maps these segments and subsegments across the top defense-spending countries of the world, including the U.S., China, Russia, Germany, France, India, Japan, and so on.

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