The Global Military Vehicular Armor Market 2018-2028
The global military vehicular armor market, valued at US$519 million in 2018, is projected to grow at a CAGR of 5.2% over the forecast period, to cross US$860 million by 2028 and be cumulatively valued at US$7.5 billion. The global vehicular armor market is dominated by Asia Pacific with anticipated spend od US$2.4 billion on vehicular armor programs during the forecast period. Europe represents the second largest market with 30% share, and North America with a share of about 25%. The Middle Eastern market for vehicular armor is expected to account for around 6.4%, followed by the Latin American and the African markets with a collective share of 5.3%.
The market consists of six categories: MBT armor, IFV armor, APC armor, MRAP armor, LMV armor, and tactical truck armor. The market is expected to be dominated by LMV armor, which will account for over 27% of the overall revenue, followed by MBT armor and IFV armor with shares of around 26% and 11% respectively. APC armor, tactical truck armor and MRAP armor segments are projected to cumulatively account for share of around 33% during 2018-2028.
Vehicular armor manufacturers are working towards developing new technologies in an effort to enhance the efficiency and survivability of armored vehicles and soldiers. Previously, manufacturers used materials such as armor steels and titanium armor, among others. However, need for enhanced mobility while maintaining adequate levels of protection is driving the need for light weight armor. Nano-structured Metallic Intermetallic Laminate composite is one such emerging product material for armor applications.
These composites can be designed for structural use to optimize the unique properties and benefits of the constituent components, resulting in materials that have the high strength and stiffness of inter-metallic phase and the high toughness of the metal
This report ""The Global Military Vehicular Armor Market 2018-2028"" offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for vehicular armor, key market trends, and challenges faced by industry participants.
The report provides an in-depth analysis of the following -
- Overview: snapshot of the military vehicular armor market during 2018-2028, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments
- Market Dynamics: Insights into the technological developments in the military vehicular armor market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants
- Segment Analysis: Insights into the military vehicular armor market from a segmental perspective and a detailed analysis of factors influencing the market for each sector
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region
- Regional Analysis: Insights into the military vehicular armor market from a regional perspective and a detailed analysis of factors influencing the market for each region
- Trend Analysis - Key Defense Market: analysis of the key markets in each region, providing an analysis of the military vehicular armor segments expected to be in demand in each region
- Key Program Analysis: details of the top programs in each segment expected to be executed during the forecast period
- Competitive landscape analysis: analysis of competitive landscape of the global military vehicular armor industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis
Companies mentioned in this report - General Dynamics Ordnance & Tactical Systems, Nexter SA, Rheinmetall, DRDO, NII STALI, BAE Systems, TenCate Armor, Roketsan, IBD Deisenroth Engineering, AmSafe BridPort, Plasan, Fidelity Technologies
- The global vehicular armor market is expected to value US$519 million in 2018, and will grow at a CAGR of 5.20%, to value US$861 million by 2028.
- The cumulative market for global expenditure on vehicular armor market will reach US$7.5 billion over the forecast period.
- The market consists of six categories: MBT armor, IFV armor, APC armor, MRAP armor, LMV armor, and tactical truck armor.
- The market is expected to be dominated by LMV armor, which will account for 27.8% of the overall revenue, followed by MBT armor and IFV armor with shares of 26.9% and 11.9% respectively.
- APC armor, tactical truck armor and MRAP armor segments are projected to cumulatively account for share of 33.4% during 2018-2028
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global military vehicular armor market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military vehicular armor segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military vehicular armor market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military vehicular armor market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top vehicular armor suppliers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook