The ability to offer ground forces increased capabilities pertaining to protection and munitions is expected to spur the need for armored vehicles over the forecast period. The threat from neighboring nations and insurgency issues will also be a major factor expected to contribute to the increasing demand for armored vehicles. Furthermore, the large base of existing inventory as well as new procurements throughout the next decade will create the need for servicing and maintenance activities, which is expected to fuel the armored vehicles MRO market to a great extent.
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- The global military armored vehicles and MRO market is expected to value US$22.5 billion in 2016, and will grow at a CAGR of 3.71%, to value US$32.4 billion by 2026.
- The market is split into six segments: MBTs, IFVs, APCs, MRAPs, LMVs, and tactical trucks. IFVs will lead the market, with a share of 32.2%, followed by the MBT segment, accounting for a share of 25.8%. APC is projected to be the third largest segment with a share of 17.4%, followed by LMVs with a share of 11.1%. Tactical trucks and MRAPs are projected to capture 8.3% and 5.2% of the global market during 2016-2026.
- The Asia Pacific region is projected to lead the global armored vehicles and MRO market during 2016-2026, with a share of 26.8% of the global market. North America and Europe are also expected to account for a significant portion of the total military armoured vehicles and MRO market during the forecast period, with shares of 24.8% and 23.9% respectively
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The Global Military Armoured Vehicles and MRO Market2016-2026 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for armored vehicles, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2016-2026, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of armored vehicle segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2016-2026.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
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Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military armored vehicles and MRO market over the next ten years.
- Gain in-depth understanding about the underlying factors driving demand for different armored vehicles and MRO market segments in the top spending countries across the world and identify the opportunities offered by each of them.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global military armored vehicles and MRO market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the military armored vehicles and MRO market.
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military simulator providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.
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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic dxecision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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