DUBLIN--(BUSINESS WIRE)--The "Global Armored Fighting Vehicles Market - Trends, Growth, Shares and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The market is expected to grow at a CAGR of over 6% to reach a market value of USD 50 billion by the year 2023.
Based on technology, active mine protection system is expected to be the largest segment of the global armored vehicles market during the forecast period. Infantry fighting vehicles are the largest segment in the global defense armored vehicles market, by product.
The US and the European nations were the biggest consumers of armored vehicles for a considerable period. However, in the past few years both the US and European governments decided to cut down their defense budgets. This significantly affected the demand for armored vehicles, however, the growing security concerns in the Asia-Pacific region and the peace initiative missions undertaken by the Middle East nations have helped in reducing the impact to a considerable level.
Increasing internal & external security threats which led to the increase of violence in countries such as Syria, Iraq and other countries in the world are driving global armored vehicles market. Increasing military expenditure especially in emerging economies and increasing popularity of rental & leasing of armored cars among civilians also supports the growth of the market. The major factor hindering the growth of the overall market includes the lack of regulatory standards across the globe.
- General Dynamics
- Northrop Grumman
- Lockheed Martin
- BAE Systems Plc
- Rafael Advanced Defense Systems
- Defense Research and Development Organization
Key Topics Covered:
2. Research Methodology
3. Market Insights
4. Market Dynamics
5. Armored Vehicles Market Segmentation, By Type
6. Armored Vehicles Market Segmentation, By Region
7. Competitive Landscape
8. Company Profiles
9. Future Outlook
For more information about this report visit https://www.researchandmarkets.com/research/zpqqjp/global_armored?w=4