The South Korea Armored Vehicle market was valued at $334.6 Million in 2025, and is projected to reach $435.5 Million by 2032 growing at a CAGR of 3.87% from 2026 to 2032. MBT segment is expected to be the highest contributor to this market, with $103.5 Million in 2025, and is anticipated to reach $135.5 Million by 2032, registering a CAGR of 3.97%. APC segment is anticipated to reach $60.1 Million by 2032 with the highest CAGR of 4.26%. MBT and IFV segments collectively expected to account for about 55.8% share of the South Korea Armored Vehicle market in 2025, with the former constituting around 30.9% share. APC and MBT segments are expected to witness significant growth rates at a CAGR of 4.26% and 3.97% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 44.4% in the overall South Korea Armored Vehicle market in 2025, and is anticipated to reach 44.9% by 2032.
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