DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/m44nbv/global_military) has announced the addition of the "Global Military Armored Vehicles and Counter IED Vehicles Market 2014-2018" report to their offering.
The global Defense sector is investing extensively in R&D. In an attempt to improve the existing technology, vendors are developing systems that can help augment the endurance and efficiency of weapons in harsh atmospheric conditions. For instance, there is an increase in the demand for armored vehicles that require low maintenance and can counter explosive threats. Therefore, with the increase in R&D, the demand for advanced armored vehicles is also increasing.
According to the report, the increase in the defense budgets is one of the major drivers. Worldwide, various governments are increasing their defense budgets; military armored and counter IED vehicles account for a significant share of these budgets. Countries such as China, India, Saudi Arabia, and Russia are expected to increase their defense budgets in the coming years.
Further, the report states that one of the major challenges is the rapid technological advancements taking place in the market. Rapid changes in technology are forcing vendors to invest in upgrading their products, resulting in a decline in their profit margins.
- General Dynamics Corp.
- Nexter Group
- OJSC Research and Production Corp. Uralvagonzavod
- Rheinmetall AG
Other Prominent Vendors
- BAE Systems Hagglunds AB
- China North Industries Corp.
- Denel Land Systems
- Hyundai Rotem Co.
- Krauss-Maffei Wegmann GmbH & Co. KG
- Navistar Defense LLC
- Oto Melara
- Otokar Otomotiv ve Savunma Sanayi AS
- Oshkosh Defense Inc.
- Panhard General Defense SA
- Renault Trucks Defense SAS
For more information visit http://www.researchandmarkets.com/research/m44nbv/global_military