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Armored Vehicles Market Share

Report ID: GMI3279
Published Date: Oct 2023
Report Format: PDF

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Armored Vehicles Market Share

Players operating in the armored vehicles industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market. Some major players operating in the armored vehicles industry are mentioned below:

BAE Systems
General Dynamics Corporation
Hanwha Defense
IVECO Defence Vehicles
Krauss-Maffei Wegmann GmbH & Co.
L3harris Technologies
Oshkosh Corporation, Inc.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for armored vehicles crossed USD 21.7 billion in 2022 and will register over 5% CAGR from 2023-2032 due to the rising prevalence of urban conflict including terrorism and civil unrest worldwide.

The combat vehicle type segment held over 55% share of the armored vehicles industry in 2022 and is expected to register appreciable CAGR from 2023-2032 on account of the escalating security concerns due to regional conflicts and rising geopolitical tensions.

North America recorded over 30% share of the armored vehicles market in 2022 and is expected to register commendable CAGR from 2023-2032 owing to the increased defense spending and the heightened concerns about domestic security in the region.

BAE Systems, General Dynamics Corporation, Hanwha Defense, IVECO Defence Vehicles, Krauss-Maffei Wegmann GmbH & Co., L3harris Technologies, and Oshkosh Corporation, Inc. are some of the major armored vehicles companies worldwide.