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.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
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.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
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.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
|Technavio’s best deals of the month!|
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March for a limited period.
Get 20% off on all media and entertainment services reports. Offer valid only till the 31st of March.
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.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.