Global Armoured vehicles Upgrade and Retrofit Market
The current market for armoured vehicle upgrade and retro fit is expected to grow at a compound annual growth rate of 3.12%. The market will have a steady rise, and suppliers’ flexibility to meet the customers demand will be a major factor in the market. The light weight titanium armour coupled with reactive armour pieces are the trend in the armour market for upgrade and retrofit vehicles.
India has planned for upgrading 1500 of its AFVs, with condition for the Make in India initiative followed by technology transfer with maintenance support. It is the first time the government of India has sent such a huge invite to non-government companies for its defence upgrade and retro fit. Malaysian army has placed demand for upgrading a total 600 of its AFVs and APCs fleet. About 25 turrets for the upgrade have already been received by the Malaysian army from the United Kingdom. 14 turrets for its Scorpion 90 are being bought from defence supplier Thales UK.
Canada has begun to receive its LAVs after a 3rd upgrade process to improve vehicle protection, mobility and lethality. The total project was capped at $1.215 billion in 2012, and delivery date of operational LAVs in late 2013.
As per trend statistics and cost effectiveness prediction, army will choose to upgrade their fleet and buy limited new armoured vehicles. As can be seen from the case of Malaysian army, where it is buying 258 new locally made AFVs and upgrading its fleet of 600 old AFVs and APCs.
Geographically the armoured vehicles upgrade and retrofit market will be led by the United States, and Canada in the west. The United Kingdom, Germany and France in Europe. India, Russia, Malaysia, UAE, China, Israel, Japan and Korea in Asia Pacific. The U.S. will remain a major consumer of upgrade and retro fit of armoured vehicles.
The key players in the market for armoured vehicle upgrade and retrofit are BAE Systems, General Dynamics, and Thales Group. The Global Armoured Vehicles Upgrade and Retrofit Market is segmented by Vehicle Type (Armoured Fighting Vehicle, Armoured Recovery Vehicle and Armoured Personnel Carrier), and Geography - Market forecast and Analysis (2015-2020).
What the report offers
Market analysis of global armoured vehicles upgrade and retrofit market forecast and analysis with specific assessments and competition analysis on global and regional scales Market definition along with the identification of key drivers, opportunities and restraints Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies Global Armoured Vehicles Upgrade and Retrofit Market segmented by vehicle type, forecasts from 2015-2020 Global Armoured Vehicles Upgrade and Retrofit Market segmentation by armour level, forecasts from 2015-2020 Global Armoured Vehicles Upgrade and Retrofit Market segmentation by geography, forecasts from 2015-2020 Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect the Global Armoured Vehicles Upgrade and Retrofit Market on both global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped Target audience who can refer this report:
Armoured Vehicles Upgrade and Retrofit vendors Raw material, spare parts and component suppliers Anyone within the value chain system CEO’s, COO’s, Strategic Growth and Business Development Managers Potential Investors (Venture Capitalists) Research institutes and organizations Market research and consulting firms