Tag: ballistic protection

Fortified Mobility Navigating the Armored Vehicles Market

The armored vehicles market will touch USD 35.2 billion by 2030, powering at a rate of 5.1% by the end of this decade. This is because of the militarization of law implementation agencies, increase in the incidence of cross-border disagreements, development in the requirement for compact, sturdy, and extremely efficient armored vehicles, and growth in the defense budgets of numerous nations.

Furthermore, the high research and development spending by the giants of the industry and government partnerships with private administrations to advance highly groundbreaking and accurate solutions for defense support the industry growth.

The U.S., the leading power, is growing its defense expenditure, having spent about 3.7% of its gross domestic product on the military in the past. The growing military expenditure gives the armed forces more freedom to buy novel armored vehicles and reinforce their land-based competences.

Wheeled armored vehicles had the larger revenue share in the past and will have the faster growth in the years to come. Such vehicles are attaining acceptance due to their better mobility, low weight, and enhanced combat competences. Moreover, the growing occurrence of hostile and terrorist attacks in urban areas generates a robust need for armored cars and other wheeled automobiles.

The defense category had the larger share in the armored vehicles market, and it will continue dominating in the future as well. This can be credited to the rising use of APCs, IFVs, LPVs, MBTs, MRAP, and tactical automobiles for diverse purposes, rising essential to protect armed forces people from mine explosions, and the robust emphasis on safer disposition of infantrymen to battlefields or risky areas.

Armored Vehicles Market To Observe Fastest Growth In APAC

The armored vehicles market will reach USD 35.2 billion, growing at a rate of 5.1%, by 2030 as per a report by P&S Intelligence. This can be credited to the rising cross-border disputes, increasing demand for robust, compact, and highly effective armored vehicles, the increasing defense expenses of several nations, and the militarization of law enforcement agencies.

Furthermore, the high expenditure on R&D by key industries and collaborations of government and private organizations to produce highly innovative solutions for defense are boosting industry growth.

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Unmanned armored ground vehicles are expected to witness the fastest growth in the armored vehicles market, during the forecast period. This is credited to the increasing demand for these vehicles due to their crucial role in assisting logistic operations onshore and supporting terrestrial combat.

Combat vehicles generated the highest revenue in recent years, and this trend will continue in the future as well. This is because of the rising demand for light-protected vehicles and armored personal carriers.

Global military spending has increased significantly in the past few years. Due to internal and external security threats, conflicts between nations, technological advancement in defense, rising terrorism activities, and various border security issues.

Wheeled armored vehicles held the larger revenue share in recent years, and they will witness faster growth during the forecast period. These are gaining popularity because of their advanced combat capabilities, lighter weight, and better mobility.
In addition, the increasing incidence of terrorist attacks in urban areas has boosted the requirement for armored vehicles.

It is crucial for defense forces to carry out better monitoring of land and naval borders. As robots can perform better in border surveillance, they can substitute humans in some situations. These robots can effectively patrol national borders and transmit real-time information. Such vehicles are provided with armor to enhance durability.

The defense category held a larger share in recent years, and it will remain larger in the years to come. This is because of the increasing usage of armored vehicles such as APCs, LPVs, IFVs, MBTs, MRAP, and the focus on the safe deployment of soldiers to battlefields and risky areas.

North America held the largest share,of over 52%, and it is expected to continue like this. This is because of the existence of numerous equipment and military machinery manufacturers, the collaboration between government and industries to develop advanced vehicles, and the high rate of advanced technology adoption.