Global Armored Vehicle Market 2020-2030 by Armor (Passive, Active), Drive Type (Wheeled, Tracked), Category (Conventional, Electric), Vehicle Type, Application and Region: Trend Forecast and Growth Opportunity

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Global armored vehicle market will reach $24.85 billion by 2030, growing by 3.7% annually over 2020-2030 driven by rising defense spending, the rise in the instances of cross-border conflicts, and increasing incidences of asymmetric warfare. Highlighted with 84 tables and 83 figures, this 170-page report “Global Armored Vehicle Market 2020-2030 by Armor (Passive, Active), Drive Type (Wheeled, Tracked), Category (Conventional, Electric), Vehicle Type, Application and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global armored vehicle market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2015-2020 and provides forecast from 2021 till 2030 with 2020 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global armored vehicle market in every aspect of the classification from perspectives of Armor, Drive Type, Category, Vehicle Type, Application, and Region. Based on Armor, the global market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section. • Passive-armor Vehicles • Active-armor Vehicles Based on Drive Type, the global market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section. Wheeled Armored Vehicles • 4X4 Wheeled Armored Vehicles • 6X6 Wheeled Armored Vehicles • 8X8 Wheeled Armored Vehicles Tracked Armored Vehicles Based on Category, the global market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section. • Conventional Armored Vehicles • Electric Armored Vehicles Based on Vehicle Type, the global market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section. • Armored Personnel Carrier (APC) • Infantry Fighting Vehicle (IFV) • Main Battle Tank (MBT) • Light Multi-role Vehicle (LMV) • Mine Resistant Ambush Protected (MRAP) • Armored Support Vehicle • Tactical Truck • Other Armored Vehicles Based on Application, the global market is segmented into the following sub-markets with annual revenue for 2020-2030 included in each section. • Defense • Commercial Use Geographically, the following regions together with the listed national/local markets are fully investigated: • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines) • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Turkey, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland) • North America (U.S., Canada, and Mexico) • South America (Brazil, Columbia, Argentina, Rest of South America) • MEA (Israel, Saudi Arabia, South Africa) For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2020-2030. The breakdown of all regional markets by country and split of key national markets by Drive Type, Vehicle Type, and Application over the forecast years are also included. The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players. Specifically, potential risks associated with investing in global armored vehicle market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions. Key Players (this may not be a complete list and extra companies can be added upon request): BAE Systems China North Industries Corporation (Norinco) General Dynamics Corporation INKAS Armored Vehicle Manufacturing International Armored Group Krauss-Maffei Wegmann (KMW) Lenco Industries Inc. Lockheed Martin Corporation Oshkosh Defense LLC Rheinmetall AG STREIT Group Textron Inc. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)


1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 21
2.1 Market Size and Forecast 21
2.1.1 Impact of COVID-19 on World Economy 22
2.1.2 Impact of COVID-19 on the Market 25
2.2 Major Growth Drivers 27
2.3 Market Restraints and Challenges 34
2.4 Emerging Opportunities and Market Trends 37
2.5 Porter’s Fiver Forces Analysis 41
3 Segmentation of Global Market by Armor 45
3.1 Market Overview by Armor 45
3.2 Passive-armor Vehicles 47
3.3 Active-armor Vehicles 48
4 Segmentation of Global Market by Drive Type 50
4.1 Market Overview by Drive Type 50
4.2 Wheeled Armored Vehicles 52
4.2.1 4X4 Wheeled Armored Vehicles 53
4.2.2 6X6 Wheeled Armored Vehicles 54
4.2.3 8X8 Wheeled Armored Vehicles 55
4.3 Tracked Armored Vehicles 56
5 Segmentation of Global Market by Category 57
5.1 Market Overview by Category 57
5.2 Conventional Armored Vehicles 59
5.3 Electric Armored Vehicles 60
6 Segmentation of Global Market by Vehicle Type 61
6.1 Market Overview by Vehicle Type 61
6.2 Armored Personnel Carrier (APC) 63
6.3 Infantry Fighting Vehicle (IFV) 64
6.4 Main Battle Tank (MBT) 65
6.5 Light Multi-role Vehicle (LMV) 66
6.6 Mine Resistant Ambush Protected (MRAP) 67
6.7 Armored Support Vehicle 68
6.8 Tactical Truck 69
6.9 Other Armored Vehicles 70
7 Segmentation of Global Market by Application 71
7.1 Market Overview by Application 71
7.2 Defense 73
7.3 Commercial Use 74
8 Segmentation of Global Market by Region 75
8.1 Geographic Market Overview 2020-2030 75
8.2 North America Market 2020-2030 by Country 80
8.2.1 Overview of North America Market 80
8.2.2 U.S. 84
8.2.3 Canada 88
8.2.4 Mexico 90
8.3 European Market 2020-2030 by Country 92
8.3.1 Overview of European Market 92
8.3.2 Germany 96
8.3.3 UK 98
8.3.4 France 100
8.3.5 Spain 102
8.3.6 Italy 104
8.3.7 Russia 106
8.3.8 Rest of European Market 108
8.4 Asia-Pacific Market 2020-2030 by Country 110
8.4.1 Overview of Asia-Pacific Market 110
8.4.2 Japan 114
8.4.3 China 117
8.4.4 Australia 119
8.4.5 India 121
8.4.6 South Korea 123
8.4.7 Rest of APAC Region 125
8.5 South America Market 2020-2030 by Country 127
8.5.1 Argentina 130
8.5.2 Brazil 132
8.5.3 Columbia 134
8.5.4 Rest of South America Market 136
8.6 MEA Market 2020-2030 by Country 137
8.6.1 Israel 140
8.6.2 Saudi Arabia 142
8.6.3 South Africa 144
8.6.4 Other National Markets 146
9 Competitive Landscape 147
9.1 Overview of Key Vendors 147
9.2 New Product Launch, Partnership, Investment, and M&A 150
9.3 Company Profiles 151
BAE Systems 151
China North Industries Corporation (Norinco) 153
General Dynamics Corporation 154
INKAS Armored Vehicle Manufacturing 155
International Armored Group 156
Krauss-Maffei Wegmann (KMW) 157
Lenco Industries Inc. 158
Lockheed Martin Corporation 159
Oshkosh Defense LLC 160
Rheinmetall AG 161
STREIT Group 162
Textron Inc. 163
10 Investing in Global Market: Risk Assessment and Management 164
10.1 Risk Evaluation of Global Market 164
10.2 Critical Success Factors (CSFs) 167
Related Reports and Products 170


Table 1.  Snapshot of Global Armored Vehicle Market in Balanced Perspective, 2020-2030 19
Table 2. Growth Rate of World Real GDP, 2017-2021 23
Table 3.  Main Product Trends and Market Opportunities in Global Armored Vehicle Market 37
Table 4. Global Armored Vehicle Market by Armor, 2020-2030, $ mn 45
Table 5. Global Armored Vehicle Market by Drive Type, 2020-2030, $ mn 50
Table 6. Global Armored Vehicle Market: Wheeled Armored Vehicles by Type, 2020-2030, $ mn 52
Table 7. Global Armored Vehicle Market by Category, 2020-2030, $ mn 57
Table 8. Global Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 61
Table 9. Global Armored Vehicle Market by Application, 2020-2030, $ mn 71
Table 10. Global Armored Vehicle Market by Region, 2020-2030, $ mn 76
Table 11.  Leading National Armored Vehicle Market, 2020 and 2030, $ mn 79
Table 12. North America Armored Vehicle Market by Country, 2020-2030, $ mn 82
Table 13. U.S. Armored Vehicle Market by Drive Type, 2020-2030, $ mn 86
Table 14. U.S. Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 86
Table 15. U.S. Armored Vehicle Market by Application, 2020-2030, $ mn 86
Table 16. Canada Armored Vehicle Market by Drive Type, 2020-2030, $ mn 89
Table 17. Canada Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 89
Table 18. Canada Armored Vehicle Market by Application, 2020-2030, $ mn 89
Table 19. Mexico Armored Vehicle Market by Drive Type, 2020-2030, $ mn 91
Table 20. Mexico Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 91
Table 21. Mexico Armored Vehicle Market by Application, 2020-2030, $ mn 91
Table 22. Europe Armored Vehicle Market by Country, 2020-2030, $ mn 95
Table 23. Germany Armored Vehicle Market by Drive Type, 2020-2030, $ mn 97
Table 24. Germany Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 97
Table 25. Germany Armored Vehicle Market by Application, 2020-2030, $ mn 97
Table 26. UK Armored Vehicle Market by Drive Type, 2020-2030, $ mn 99
Table 27. UK Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 99
Table 28. UK Armored Vehicle Market by Application, 2020-2030, $ mn 99
Table 29. France Armored Vehicle Market by Drive Type, 2020-2030, $ mn 101
Table 30. France Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 101
Table 31. France Armored Vehicle Market by Application, 2020-2030, $ mn 101
Table 32. Spain Armored Vehicle Market by Drive Type, 2020-2030, $ mn 103
Table 33. Spain Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 103
Table 34. Spain Armored Vehicle Market by Application, 2020-2030, $ mn 103
Table 35. Italy Armored Vehicle Market by Drive Type, 2020-2030, $ mn 105
Table 36. Italy Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 105
Table 37. Italy Armored Vehicle Market by Application, 2020-2030, $ mn 105
Table 38. Russia Armored Vehicle Market by Drive Type, 2020-2030, $ mn 107
Table 39. Russia Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 107
Table 40. Russia Armored Vehicle Market by Application, 2020-2030, $ mn 107
Table 41. Armored Vehicle Market in Rest of Europe by Country, 2020-2030, $ mn 109
Table 42. APAC Armored Vehicle Market by Country, 2020-2030, $ mn 112
Table 43. Japan Armored Vehicle Market by Drive Type, 2020-2030, $ mn 116
Table 44. Japan Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 116
Table 45. Japan Armored Vehicle Market by Application, 2020-2030, $ mn 116
Table 46. China Armored Vehicle Market by Drive Type, 2020-2030, $ mn 118
Table 47. China Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 118
Table 48. China Armored Vehicle Market by Application, 2020-2030, $ mn 118
Table 49. Australia Armored Vehicle Market by Drive Type, 2020-2030, $ mn 120
Table 50. Australia Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 120
Table 51. Australia Armored Vehicle Market by Application, 2020-2030, $ mn 120
Table 52. India Armored Vehicle Market by Drive Type, 2020-2030, $ mn 122
Table 53. India Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 122
Table 54. India Armored Vehicle Market by Application, 2020-2030, $ mn 122
Table 55. South Korea Armored Vehicle Market by Drive Type, 2020-2030, $ mn 124
Table 56. South Korea Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 124
Table 57. South Korea Armored Vehicle Market by Application, 2020-2030, $ mn 124
Table 58. Armored Vehicle Market in Rest of APAC by Country, 2020-2030, $ mn 126
Table 59. South America Armored Vehicle Market by Country, 2020-2030, $ mn 129
Table 60. Argentina Armored Vehicle Market by Drive Type, 2020-2030, $ mn 131
Table 61. Argentina Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 131
Table 62. Argentina Armored Vehicle Market by Application, 2020-2030, $ mn 131
Table 63. Brazil Armored Vehicle Market by Drive Type, 2020-2030, $ mn 133
Table 64. Brazil Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 133
Table 65. Brazil Armored Vehicle Market by Application, 2020-2030, $ mn 133
Table 66. Columbia Armored Vehicle Market by Drive Type, 2020-2030, $ mn 135
Table 67. Columbia Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 135
Table 68. Columbia Armored Vehicle Market by Application, 2020-2030, $ mn 135
Table 69. MEA Armored Vehicle Market by Country, 2020-2030, $ mn 139
Table 70. Israel Armored Vehicle Market by Drive Type, 2020-2030, $ mn 141
Table 71. Israel Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 141
Table 72. Israel Armored Vehicle Market by Application, 2020-2030, $ mn 141
Table 73. Saudi Arabia Armored Vehicle Market by Drive Type, 2020-2030, $ mn 143
Table 74. Saudi Arabia Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 143
Table 75. Saudi Arabia Armored Vehicle Market by Application, 2020-2030, $ mn 143
Table 76. South Africa Armored Vehicle Market by Drive Type, 2020-2030, $ mn 145
Table 77. South Africa Armored Vehicle Market by Vehicle Type, 2020-2030, $ mn 145
Table 78. South Africa Armored Vehicle Market by Application, 2020-2030, $ mn 145
Table 79. BAE Systems: Company Snapshot 151
Table 80. BAE Systems: Business Segmentation 151
Table 81. BAE Systems: Product Portfolio 152
Table 82. BAE Systems: Revenue, 2017-2019, $ mn 152
Table 83.  Risk Evaluation for Investing in Global Market, 2020-2030 165
Table 84. Critical Success Factors and Key Takeaways 168


Figure 1. Research Method Flow Chart 12
Figure 2. Breakdown of Primary Research 14
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 4. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2030 18
Figure 5. Global Armored Vehicle Market, 2020-2030, $ mn 21
Figure 6. Impact of COVID-19 on Business 25
Figure 7. Primary Drivers and Impact Factors of Global Armored Vehicle Market 27
Figure 8. World Military Expenditure by Region, 1988-2019 30
Figure 9. Primary Restraints and Impact Factors of Global Armored Vehicle Market 34
Figure 10. Investment Opportunity Analysis 38
Figure 11. Porter’s Fiver Forces Analysis of Global Armored Vehicle Market 41
Figure 12. Breakdown of Global Armored Vehicle Market by Armor, 2020-2030, % of Revenue 46
Figure 13. Global Addressable Market Cap in 2021-2030 by Armor, Value ($ mn) and Share (%) 46
Figure 14. Global Armored Vehicle Market: Passive-armor Vehicles, 2020-2030, $ mn 47
Figure 15. Global Armored Vehicle Market: Active-armor Vehicles, 2020-2030, $ mn 48
Figure 16. Breakdown of Global Armored Vehicle Market by Drive Type, 2020-2030, % of Sales Revenue 51
Figure 17. Global Addressable Market Cap in 2021-2030 by Drive Type, Value ($ mn) and Share (%) 51
Figure 18. Global Armored Vehicle Market: Wheeled Armored Vehicles, 2020-2030, $ mn 52
Figure 19. Global Armored Vehicle Market: 4X4 Wheeled Armored Vehicles, 2020-2030, $ mn 53
Figure 20. Global Armored Vehicle Market: 6X6 Wheeled Armored Vehicles, 2020-2030, $ mn 54
Figure 21. Global Armored Vehicle Market: 8X8 Wheeled Armored Vehicles, 2020-2030, $ mn 55
Figure 22. Global Armored Vehicle Market: Tracked Armored Vehicles, 2020-2030, $ mn 56
Figure 23. Breakdown of Global Armored Vehicle Market by Category, 2020-2030, % of Sales Revenue 58
Figure 24. Global Addressable Market Cap in 2021-2030 by Category, Value ($ mn) and Share (%) 58
Figure 25. Global Armored Vehicle Market: Conventional Armored Vehicles, 2020-2030, $ mn 59
Figure 26. Global Armored Vehicle Market: Electric Armored Vehicles, 2020-2030, $ mn 60
Figure 27. Breakdown of Global Armored Vehicle Market by Vehicle Type, 2020-2030, % of Revenue 62
Figure 28. Global Addressable Market Cap in 2021-2030 by Vehicle Type, Value ($ mn) and Share (%) 62
Figure 29. Global Armored Vehicle Market: Armored Personnel Carrier (APC), 2020-2030, $ mn 63
Figure 30. Global Armored Vehicle Market: Infantry Fighting Vehicle (IFV), 2020-2030, $ mn 64
Figure 31. Global Armored Vehicle Market: Main Battle Tank (MBT), 2020-2030, $ mn 65
Figure 32. Global Armored Vehicle Market: Light Multi-role Vehicle (LMV), 2020-2030, $ mn 66
Figure 33. Global Armored Vehicle Market: Mine Resistant Ambush Protected (MRAP), 2020-2030, $ mn 67
Figure 34. Global Armored Vehicle Market: Armored Support Vehicle, 2020-2030, $ mn 68
Figure 35. Global Armored Vehicle Market: Tactical Truck, 2020-2030, $ mn 69
Figure 36. Global Armored Vehicle Market: Other Armored Vehicles, 2020-2030, $ mn 70
Figure 37. Breakdown of Global Armored Vehicle Market by Application, 2020-2030, % of Revenue 72
Figure 38. Global Addressable Market Cap in 2021-2030 by Application, Value ($ mn) and Share (%) 72
Figure 39. Global Armored Vehicle Market: Defense, 2020-2030, $ mn 73
Figure 40. Global Armored Vehicle Market: Commercial Use, 2020-2030, $ mn 74
Figure 41.  Global Market Snapshot by Region 75
Figure 42.  Geographic Spread of Worldwide Armored Vehicle Market, 2020-2030, % of Sales Revenue 76
Figure 43. Global Addressable Market Cap in 2021-2030 by Region, Value ($ mn) and Share (%) 77
Figure 44.  Top 15 Countries in Military Expenditure by Share (%) in 2019 78
Figure 45.  North American Armored Vehicle Market, 2020-2030, $ mn 81
Figure 46. Breakdown of North America Armored Vehicle Market by Country, 2020 and 2030, % of Revenue 82
Figure 47. Contribution to North America 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 83
Figure 48. U.S. Armored Vehicle Market, 2020-2030, $ mn 85
Figure 49. Canada Armored Vehicle Market, 2020-2030, $ mn 88
Figure 50.  Armored Vehicle Market in Mexico, 2015-2030, $ mn 90
Figure 51.  European Armored Vehicle Market, 2020-2030, $ mn 93
Figure 52. Breakdown of European Armored Vehicle Market by Country, 2020 and 2030, % of Revenue 94
Figure 53. Contribution to Europe 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 95
Figure 54.  Armored Vehicle Market in Germany, 2020-2030, $ mn 96
Figure 55.  Armored Vehicle Market in UK, 2020-2030, $ mn 98
Figure 56.  Armored Vehicle Market in France, 2020-2030, $ mn 100
Figure 57.  Armored Vehicle Market in Spain, 2020-2030, $ mn 102
Figure 58.  Armored Vehicle Market in Italy, 2020-2030, $ mn 104
Figure 59.  Armored Vehicle Market in Russia, 2020-2030, $ mn 106
Figure 60.  Armored Vehicle Market in Rest of Europe, 2020-2030, $ mn 108
Figure 61. Asia-Pacific Armored Vehicle Market, 2020-2030, $ mn 111
Figure 62. Breakdown of APAC Armored Vehicle Market by Country, 2020 and 2030, % of Revenue 111
Figure 63. Contribution to APAC 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 113
Figure 64.  Armored Vehicle Market in Japan, 2020-2030, $ mn 115
Figure 65.  Armored Vehicle Market in China, 2020-2030, $ mn 117
Figure 66.  Armored Vehicle Market in Australia, 2020-2030, $ mn 119
Figure 67.  Armored Vehicle Market in India, 2020-2030, $ mn 121
Figure 68.  Armored Vehicle Market in South Korea, 2020-2030, $ mn 123
Figure 69.  Armored Vehicle Market in Rest of APAC, 2020-2030, $ mn 125
Figure 70. South America Armored Vehicle Market, 2020-2030, $ mn 128
Figure 71. Breakdown of South America Armored Vehicle Market by Country, 2020 and 2030, % of Revenue 128
Figure 72. Contribution to South America 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 129
Figure 73.  Armored Vehicle Market in Argentina, 2020-2030, $ mn 130
Figure 74.  Armored Vehicle Market in Brazil, 2020-2030, $ mn 132
Figure 75.  Armored Vehicle Market in Columbia, 2020-2030, $ mn 134
Figure 76.  Armored Vehicle Market in Rest of South America, 2020-2030, $ mn 136
Figure 77. Armored Vehicle Market in Middle East and Africa (MEA), 2020-2030, $ mn 138
Figure 78. Breakdown of MEA Armored Vehicle Market by Country, 2020 and 2030, % of Revenue 138
Figure 79. Contribution to MEA 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 139
Figure 80.  Armored Vehicle Market in Israel, 2020-2030, $ mn 140
Figure 81.  Armored Vehicle Market in Saudi Arabia, 2020-2030, $ mn 142
Figure 82.  Armored Vehicle Market in South Africa, 2020-2030, $ mn 144
Figure 83. Growth Stage of Global Armored Vehicle Industry over the Forecast Period 147

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