The Canada Armored Vehicle market was valued at $1,320.1 Million in 2025, and is projected to reach $1,610.9 Million by 2032 growing at a CAGR of 2.92% from 2026 to 2032. MBT segment is expected to be the highest contributor to this market, with $393.9 Million in 2025, and is anticipated to reach $483.3 Million by 2032, registering a CAGR of 3.00%. APC segment is anticipated to reach $217.7 Million by 2032 with the highest CAGR of 3.31%. MBT and IFV segments collectively expected to account for about 54.0% share of the Canada Armored Vehicle market in 2025, with the former constituting around 29.8% share. APC and MRAP segments are expected to witness significant growth rates at a CAGR of 3.31% and 3.08% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 25.2% in the overall Canada Armored Vehicle market in 2025, and is anticipated to reach 25.6% by 2032.
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