Armoured Personnel Carrier (APC) are primarily designed to carry troops and equipment to the battlefield in a safe way to minimize casualty. These are not designed for direct combat but just transport, however, they are equipped for self-defense and protection against small arms, shrapnel, and artillery fire. The global armoured personnel carrier market can achieve a CAGR of 6% during the forecast period (2018-2023). Market Research Future (MRFR) in their report tracks the possibilities for the armoured personnel carrier market in the coming years and routes that can be charted for high growth.
Several factors such as preventing riots in urban areas and transporting personnel and equipment to battlefield are impacting the market growth substantially. Increase in defense expenditure can also ensure high growth for the armoured personnel carrier market. Participation from emerging economies can also ensure easy growth. However, the armoured personnel carrier market can get dampened by the difficult procurement processes. But rising terrorist activities can take the armoured personnel carrier industry out of any long-time bottlenecking.
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Several companies are registering substantial strategic changes to benefit from the global armoured personnel carrier market. These companies are Patria Oyj (Finland), General Dynamics Corporation (US), Otokar Otomotiv ve Savunma Sanayi A.Ş (Turkey), DRB-HICOM Defence Technologies Sdn. Bhd. (DefTech (Malaysia)), Rheinmetall AG (incl. ARTEC GmbH (Germany)), Katmerciler A.S. (Turkey), Terradyne Armored Vehicles Inc. (Canada), KMDB A.A. Morozova (part of Ukroboronprom (Ukraine)), ST Kinetics Ltd. (Singapore), Paramount Group (South Africa), BAE Systems plc (UK), Krauss-Maffei Wegmann GmbH & Co. KG (Germany), Military Industrial Company (Russia), FNSS Savunma Sistemleri A.Ş. (Turkey), Iveco – Oto Melara Consortium (Italy) and Hanwha Defense Systems (South Korea).
In February 2019, Paramount Group launched Mbombe 4, a next generation armoured personnel carrier, a product that can be designed within the customer country to maximize their defense capabilities, economic diversification and sustainable growth. The carrier also offers high-level of ballistic and mine protections with shielding from 50 kg TNT or IED blasts.
- Armored Vehicle Manufactures
- Component Providers
- Defense Organizations
- Defense Electronics Suppliers
- Research Institutes
- Regulatory Bodies
MRFR, in their attempt to understand the global Armoured Personnel Carrier Market in a better way, segmented it by type, configuration, and end-user. These segments have further been backed by data based on volume-wise and value-wise analysis.
By type, the global armoured personnel carrier market can be segmented into wheeled and tracked, of which the tracked system gets maximum market share as its better mine-resistance helps countries in gaining edge others over armoured personnel carrier market.
By configuration, the armoured personnel carrier market comprises amphibious and non-amphibious. The amphibious segment is eyeing for a better CAGR during the forecast period.
Based on the end-users, the armoured personnel carrier market consists military and law enforcement & others. The military segment is drawing in the maximum amount of revenue during the forecast period.
The Americas, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are four major regions based on which the global armoured personnel carrier market can be analyzed for a better region-specific analysis.
The Americas is leading the market with substantial expenditure in the defense sector. North America has the upper-hand in the market due to the presence of countries like the U.S. and Canada. The U.S. spends extensively to keep their military service up to the mark and better than the rest. This makes them one of the biggest markets for the armoured personnel carrier in the world. The ongoing operations in the Middle East is furthering the market as well.
Europe’s market is getting traction primarily from France and the U.K. these two countries are extensively participating in the global anti-terrorist activities which is inspiring the regional market in their expansion plans. The APAC region is also enjoying remarkable growth due to the regional territorial conflicts and terrorist activities owing to which several countries are spending much for the upgradation of their defense sector.
The market numbers and forecast derived were the outcome of our disciplined research methodology which includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.
In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, Aerospace & Defense magazines, white papers, corporate presentations, company websites, some paid databases and many others.
In this process, both demand side and supply side parties were involved to extract genuine facts and insights about market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.
Report Key Insights
- Market Sizing, Forecast and Analysis: Detailed coverage on market segment and its sub segments
- Regional / Country Trend and Forecast: Detailed analysis on North America, Asia Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions
- Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis
- Technology Trend, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A
- Regional attractiveness and related growth opportunities
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Table of Contents
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat of New Entrants
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power of Supplies
4.2. Value Chain/supply Chain Analysis
List of Tables
Table 1 Global Armoured Personnel Carrier (Apc) Market, by Region, 2018–2023
Table 2 North America: Armoured Personnel Carrier (Apc) Market, by Country, 2018–2023
Table 3 Europe: Armoured Personnel Carrier (Apc) Market, by Country, 2018–2023
Table 4 Asia-pacific: Armoured Personnel Carrier (Apc) Market, by Country, 2018–2023
Table 5 Rest of the World: Armoured Personnel Carrier (Apc) Market, by Region, 2018–2023
Table 6 Global Armoured Personnel Carrier (Apc), Configuration Market, by Region, 2018–2023
Table 7 North America: Armoured Personnel Carrier (Apc), Configuration Market, by Country, 2018–2023
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
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
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