Product ID: UCMIG20A2167
Report ID:
UCMIG20A2167 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2022, the global armored vehicle market had a value of USD 19.5 billion, and it is anticipated to experience substantial growth, reaching USD 33.9 billion by 2030 with a compound annual growth rate (CAGR) of 6.2% during the forecast period, starting from USD 22.2 billion in 2023. Armored vehicles are combat vehicles fortified with armor, designed to combine operational mobility with offensive and defensive capabilities. The expansion of the market will be propelled by advancements in military vehicle technology across artillery, automotive, electronics, and metallurgy sectors. Additionally, the market is witnessing the introduction of next-generation vehicles featuring reactive armor technology, programmable ammunition, advanced autoloaders, and other innovative features.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Aerospace & Defense by segment aggregation, the contribution of the Aerospace & Defense in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20A2167