Global Armored Vehicles and MRO Market to Grow at 3.67% CAGR to Reach US$34.4 Bn by 2027

“Global Armored Vehicles and MRO Market 2017-2027”
The Global Armored Vehicles and MRO Market 2017-2027 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.

The Global Armored Vehicles and MRO Market, valued at US$24.0 billion in 2017, is projected to grow at a CAGR of 3.67% over the 2017-2027 period, to reach US$34.4 billion by 2027. The market consists of six categories: MBT, IFV, APC, MRAP, LMV, and tactical trucks. The market is expected to be dominated by the MBT segment, which is expected to account for 30% of the market, followed by IFV and APC with shares of 29% and 16%, respectively. The Asia-Pacific region is forecasted to dominate the sector with a share of 27%, followed by North America and Europe with shares of 25% and 23%, respectively.

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The ability to offer ground forces increased capabilities pertaining to protection and munitions is expected to spur the need for armored vehicles. The threat from neighboring nations and insurgency issues is also expected to be a major factor that will 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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Reason to Buy:

  • Determine prospective investment areas based on a detailed trend analysis of the global 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 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 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 defense ministries of different countries within the global 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 armored vehicle suppliers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

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