Defense Armored Vehicle MRO Market - Increased Collaborative Efforts to Promote Growth | Technavio

Technavio has published a new market research report on the global defense armored vehicle MRO market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global defense armored vehicle MRO market is expected to grow at a CAGR of over 6% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global defense armored vehicle MRO market by vehicle type, including infantry fighting vehicle, main battle tank, armored personnel carrier, tactical trucks, multirole armored vehicle, and mine-resistant ambush protected vehicle. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: growing procurement of new defense armored vehicles

In the last few years, many nations have started procuring armored vehicles to expand and strengthen their existing fleet. R&D in the armored vehicles market is significant. Numerous countries have increased their defense spending in the past decade and have been a part of different programs to develop new armored vehicles. Armored vehicles include battle tanks, IFVs, and special armored vehicles, which can sustain explosions.

According to a senior analyst at Technavio for maintenance repair and overhaul (MRO) research, “The idea of winning a war with the support of only naval and air power has changed over the years. Russia and its surrogates have proved in several instances that much can be done with artillery, tanks, and ground-based combat vehicles without great reliance on air power. Russia has developed an advanced tank, the T-14 Armata. The new tank is equipped with an unmanned turret, an APS, advanced sensors, and a gun system to fire guided missiles.”

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Market trend: increased collaborative efforts

The vendors are collaborating with each other to team up their expertise in developing the most advanced vehicle systems. Military platforms vendors are increasingly involved in joint development efforts because tactical ground vehicles are sophisticated and complex. The A2 upgradation will include significant changes to the chassis and mission module. The major components that will be retrofitted include weapon systems, communication systems, IT equipment modules, and advanced driver visualization technology.

Market challenge: investment and program cancellation

Investment is essential for any modernization program. The increased investment in armored vehicle modernization is crucial to reverse the trend toward obsolescence and to ensure overmatch over future and current enemies. The large investments are required for replacing older technologies and weapons with modern equipment. Army acquisition efforts must simultaneously develop advanced solutions, which can improve mobility, lethality, and protection while maintaining long lead-time improvement programs and current fleet investments.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global defense armored vehicle MRO market is expected to grow at a CAGR of over 6% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com