Armored Vehicle Manufacturing
The Armored Vehicle Manufacturing industry experienced significant declines over the five years to 2018. Prior to the five-year period, US combat operations in the Middle East and a climbing defense budget created a boom in demand for armored vehicles. However, this trend reversed just before the current five-year period. The United States began to wind down combat operations in the Middle East, the defense budget was cut and sequestration eventually kicked in. Consequently, the industry is expected to decline overall during the period. In more recent years, a pick-up in defense spending has led to an increase in US spending on armored vehicles. Moreover, surging international demand driven by increased global defense spending, tensions and conflict has helped offset weaker demand at home. Over the five years to 2023, industry revenue is forecast to climb as the defense budget grows. Moreover, rising geopolitical tensions are anticipated to help operators maintain relatively high export orders.
This industry includes establishments engaged in manufacturing, modifying, repairing and servicing military armored vehicles. These vehicles are used in combat to transport infantry and munitions or to provide combat support. Tanks are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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