Naperville, IL -- (SBWIRE) -- 07/17/2012 -- This report offers readers insights into technological developments in the Armored Vehicles and Counter IED Vehicles market, as well as detailed analysis of the changing preferences of military forces around the world. It also identifies the current trends in the changing industry structure and the challenges faced by industry participants.
As the threat of major conventional warfare diminished following the fall of the Soviet Union and the West strengthened through intergovernmental bodies, the need for major conventional and strategic weapon such as the MBTs reduced significantly. Traditionally, North America and Europe accounted for four-fifths of global defense spending. However, western dominance in this field is steadily declining as a result of the effects of recent economic recession.
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