With the advancements in warfare techniques, the armors and equipment are also expected to witness rapid advancements in the upcoming years. In a report by Market Research Future (MRFR), the global armored vehicles upgrade and retrofit market is unexpected to witness 4% CAGR over the forecast period 2017 to 2023. The efforts directed towards the modernization of military techniques are anticipated to drive the growth of the market over the next couple of years.
Rising unrest in certain regions that have gained the interest of the major nations of the world is expected to encourage the growth trajectory of the armored vehicles upgrade and retrofit market in the years to come. Increasing investments by governments in the procurement of advanced upgrades is likely to impact the market favorably. However, declining military expense allocations can pose a challenge to participants of the armored vehicles upgrade and retrofit market.
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- AM General (U.S.)
- MKU (INDIA)
- FNSS Savunma Sistemleri (UAE)
- Oshkosh Defense (U.SBAE Systems (U.K)
- Diehl Defence (Germany)
- Sabiex International (Belgium)
- Elbit Systems (Israel)
- Palbam (Israel)
- Rheinmetall (Germany)
- General Dynamics (U.S.)
- Thales Group (France)
Some of the major players in the global armored vehicles upgrade and retrofit market presently.
By vehicle type, the armored vehicles upgrade and retrofit market has been segmented into light protected vehicles, main battle tank, amphibious armored vehicles, infantry fighting vehicles, mine-resistant ambush protected, armored personnel carriers, and others.
By design, the global armored vehicles upgrade and retrofit market has been divided into wheeled armored vehicles and tracked armored vehicles.
The global armored vehicles upgrade and retrofit market has been segmented, on the basis of region, into four regions – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). these regional segments are further narrowed down to a detailed country-level basis. North America is supposed to hold a significant share of the market over the next couple of years. The U.S. is the largest market for these upgrades and retrofits. Although the government of the country has withdrawn troops from regions such as Afghanistan, which is likely to impact market growth unfavorably, the involvement of the nation in controlling the war in Syria is poised to boot the expansion pace in the years to come. However, cuts in defense budget allocation are anticipated to restrict growth of the armored vehicles upgrade and retrofit market over the next few years.
Africa is assessed to become a crucial regional segment in the forthcoming years. The region has been witnessing increasing civil unrest which is expected to drive the growth of the armored vehicles upgrade and retrofit market in the region. In addition, the rising GDP and defense budget of the nations in the region is poised to catalyze market expansion in the foreseeable future.
Asia Pacific has been observing terrorism threats, cross-border conflicts, etc. This, is expected to motivate investments in the product over the next couple of years. Countries such as India and China are poised to lead the growth of the armored vehicles upgrade and retrofit market in the region. Also, increasing investments by the U.S. in the development of Japan’s army to counter North Korea is also poised to boost the growth rate f the regional market in the foreseeable future.
Table of Content:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
Continued. . .
List of Tables:
TABLE 1 GLOBAL ARMORED VEHICLES UPGRADE AND RETROFIT MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA ARMORED VEHICLES UPGRADE AND RETROFIT MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE ARMORED VEHICLES UPGRADE AND RETROFIT MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC ARMORED VEHICLES UPGRADE AND RETROFIT MARKET: BY COUNTRY, 2017-2023
TABLE 5 ROW ARMORED VEHICLES UPGRADE AND RETROFIT MARKET: BY COUNTRY, 2017-2023
Continued. . .
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
Continued. . .
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