Global Armored Vehicles Market Size, Share, Growth by End User (Commercial (SUV, Sedan, Limousine, Bus/Van, Others) & Defense (Wheeled Armored, Tracked Armored)), Technology (Active, Passive), by Region (North America, Europe, Middle East & Africa, South America)-Forecast till 2023
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The market is forecasted to witness a slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2023).
The global market for armored vehicles is increasing at a rapid pace. According to a recent study report published by the Market Research Future, The global market of armored vehicles will grow at a rapid pace over the forecast period.
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An armored fighting vehicle is combat and has a strong armor that guards it. It is generally armed with arms and has abilities such as operational mobility. The vehicles can be tracked or wheeled. An armored civilian car in the U.K is used for security purposes in which the standard vehicle window glass is changed with bulletproof glasses and layers of armor plates are surrounded into the body panels.
Armored vehicles are security vehicles used to transport armed security. Armored vehicles were only owned and used by military, law enforcement, and ministers, but in the past few years prominent figures from the corporate world, VIPs and celebrities, have also been contributing to the demand for these vehicles. The continually increasing security challenges is the main reason for adoption of armed vehicles by the various government bodies and civilians.
The growing challenges of tackling modern day security threats are stimulating the need for technological revolution in the market. Frequent investment in R&D activities, and development of highly advanced and innovative technologies, will be the core growth strategies in the upcoming years.
Technological developments and improvements in artificial intelligence have increased the use and importance of unmanned ground vehicles, virtual training and survivability equipment. The demand for new, technologically advanced transmission equipment in armored vehicle, which are highly effective and secure, are critical in retaining an edge over extremist powers.
Key Players:
The key players in global armored vehicles market are General Dynamics Corporation (U.S.), BAE Systems, Plc. (U.K), Textron Inc. (U.S.), Oshkosh Corporation (U.S.), Elbit Systems Ltd. (Israel), Thales Group (France), Lockheed Martin (U.S.), Rheinmetall AG (Germany), Denel Land Systems (South Africa), Sabiex International (Belgium), and Diehl Defense (Germany).
Segmentation:
The global armored vehicles market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Vehicle Type: MBT, LPV, AAV, MRAP, IFV, APC, Others
Segmentation by Design: Wheeled Armored Vehicles, Tracked Armored Vehicles
Segmentation by Regions: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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