Armored Vehicles Market Size, Share, Growth Analysis, By Platform(Combat Vehicles, Combat Support Vehicles, Unmanned Armored Vehicles), By Mobility(Wheeled and Tracked), By Type(Electric and Conventional), By Systems(Engines, Drive Systems, Ballistic Armor, Turrect Drives), By Mode of Operation(Manned and Unmanned), By AUV-Propulsion(Non-electric and Electric), By Point of Sale(OEM and Retrofit), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20A2235 | Region: Global | Published Date: February, 2024
Pages: 202 |Tables: 59 |Figures: 77

Armored Vehicles Market Insights

Global Armored Vehicles Market size was valued at USD 29.45 Billion in 2022 and is poised to grow from USD 31.06 Billion in 2023 to USD 47.67 Billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031). 

Market expansion will be aided by advancements in military vehicle technology as well as in weaponry, automotive, electronics, and material science. The market is currently seeing the introduction of new vehicles with active protection systems, reactive armour technology, programmable ammunition, sophisticated autoloaders, and other features. To improve their offensive and troop support capabilities, several nations throughout the world are implementing a variety of programmes to thoroughly modernise their IFV fleet. To a group led by General Dynamics European Land Systems-Santa Barbara Sistemas (GDELS-SBS), the Spanish Ministry of Defence awarded a contract worth EUR 1.74 billion (USD 2.06 billion) to provide 348 88 Dragon Wheeled Combat Vehicles (VCR). The Pegaso 3560 BMR armoured personnel carriers and Pegaso VEC-M1 reconnaissance vehicles, both in use since the 1970s and the 1980s, respectively, will be replaced by the Dragón VCR. In the second half of 2022, delivery of the armoured vehicles is anticipated to start. In the upcoming years, the programme is anticipated to expand to up to 1,000 VCRs. The government's increased emphasis on spending money to bolster the defence industry along with the militarization of law enforcement organisations will lead to profitable expansion chances for the armoured vehicle market. The rise of the armoured vehicle market is also being aided by an increase in crime, riots, and terrorism around the globe. desire for armoured vehicles will increase since there is a growing desire from the general public for sophisticated security and safety measures.

Market Snapshot - 2024-2031

Global Market Size

USD 27.91 billion

Largest Segment

Manned

Fastest Growth

Manned

Growth Rate

5.5% CAGR

Global Armored Vehicles Market 2024-2031 ($ Bn)
Country Share for Asia Pacific Region- 2024 (%)

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Armored Vehicles Market Segmental Analysis

Global Armored Vehicles Market is segmented on the basis of platform, mobility, type, systems, mode of operation, AUV-propulsion, point of sale and region. On the basis of platform, the market is segmented into combat vehicles, combat support vehicles, unmanned armored vehicles. By Mobility, the market is segmented into Wheeled and Tracked. By Type, the market is segmented into Electrical and Conventional. By systems, the market is segmented into engines, drive systems, ballistic armor, turrect drives, fire control systems, armaments, ammunition handling systems, countermeasure systems, command & control systems, power systems, navigation systems, observation & display systems and hulls/frames.   By Mode of Operation, the segmented into Manned and Unmanned. By AUV-Propulsion, the market is segmented into non-electric and electric. By point of sale, the market is segmented into OEM and Retrofit. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Analysis by Mode of Operation

The segment with the highest revenue share in 2022 was manned armored vehicles, with over 76%. Due to the fact that these cars safeguard the people inside, a large share can be explained. They are crucial for ensuring the protection of soldiers in high-risk areas since armored vehicles are made to defend against a variety of threats, such as small arms fire, explosives, and improvised explosive devices (IEDs). Due to the customization possibilities provided by armored vehicle producers, these vehicles are perfect for use by governmental organizations, armed forces, and private security companies, which is causing the category to flourish.

According to predictions, the unmanned armored vehicle market will expand significantly over the coming years. Unmanned armored vehicles (sometimes referred to as unmanned ground vehicles, or UGVs) are a class of armored vehicle that can function without a human operator inside. These automobiles have the ability to drive on their own or under remote control. They can carry out a variety of duties, including reconnaissance, surveillance, logistical, and combat operations, because they are outfitted with a variety of sensors and other cutting-edge technologies. Unmanned armored vehicles are adaptable enough to function in a variety of settings and conditions and can be tailored to fulfil certain mission needs. They have various benefits, including decreased risk to workers, increased effectiveness & cost savings, and enhanced performance & capabilities

Analysis by Type

Over 96% of global revenue in 2022 went to the segment of Conventional armored vehicles, which held the highest market share. There has been a greater emphasis placed on conventional armored vehicles as a result of numerous nations investing more heavily in their armed forces and security. Particularly in places where there are military conflicts or security issues, this pattern is obvious. Because of the wars in Syria and Yemen, countries spend a lot of money on their armed forces. In order to safeguard their military people and equipment, several nations have made significant investments in traditional vehicles like tanks and armored personnel carriers.

Over the forecast period, it is anticipated that the electric armored vehicle segment would expand significantly. Environmentally friendly solutions are becoming more and more in demand across a variety of businesses, including the defense and security sectors, as worries about climate change and air pollution continue to grow. With enough power and range to suit the demands of military and security applications, armored electric vehicles have become conceivable thanks to advancements in battery technology. Due to their lower operating and maintenance expenses, armored electric cars may eventually be more affordable than their conventional equivalents.

Global Armored Vehicles Market Size By Mode of Operation 2021(%)

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Armored Vehicles Market Regional Insights

Over 32% of global revenue in 2022 came from the Asia Pacific region, which had the largest proportion. The government's initiatives to boost military capability to combat both internal and external terrorism are responsible for the region's development. Additionally, a number of government entities are making large investments to expand the defense industry. For instance, Otokar, a Turkish military vehicle manufacturer with headquarters in Sakarya, set out to increase its presence in the Asia Pacific region in March 2022. At the Defense Services Asia expo in Kuala Lumpur, Malaysia, the company showed COBRA II tactical armored vehicles as well as ARMA 66 wheeled armored vehicles. To fulfil present and future customer expectations, the company plans to grow its regional operations.

With a market value of USD 6.42 billion, North America will be the fastest expanding market in 2022. The biggest defense spending by the U.S. government on the acquisition and modernization of military vehicles is attributed to the region. General Dynamics Corporation, Textron Systems, Oshkosh Defense, and others are a few examples of companies that significantly contribute to the market in North America.

Global Armored Vehicles Market Size By Geography, 2021-2030
  • Largest
  • Fastest

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Armored Vehicles Market Dynamics

Drivers

Peacekeeping and Humanitarian Missions 

  • Armored vehicles play a crucial role in peacekeeping and humanitarian missions conducted by international organizations and coalitions. These vehicles provide protection to personnel involved in these missions and assist in maintaining stability and delivering aid in conflict-affected regions. 

Internal Security and Law Enforcement 

  • Armored vehicles are not limited to military applications but are also used by law enforcement agencies for internal security purposes. Specialized armored vehicles are utilized in high-risk law enforcement operations, such as hostage rescues, riot control, and VIP protection. 

Military modernization plans 

  • Military modernization plans are a significant driver of the armored vehicles market. These plans involve the acquisition and development of advanced military equipment, including armored vehicles, to ensure the safety and security of armed forces and personnel. 

Restraints

Cost of Acquisition and Maintenance are High

  • Armored vehicles are typically expensive to acquire, operate, and maintain. The high costs associated with purchasing, training, and maintaining armored vehicles can be a significant deterrent for some countries, especially those with limited financial resources.

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Armored Vehicles Market Competitive Landscape

The collaboration of major players with businesses producing cutting-edge systems and components is stressed in order to give their products cutting-edge technology for improved combat capabilities. An international conglomerate of aerospace and technology formed a partnership to pool resources, knowledge, and expertise in order to create armored vehicles in India. Two leading manufacturing and technology businesses will work together in this partnership due to their similar synergies and complementary skill sets.

Top Player’s Company Profiles

  • Rheinmetall AG (Germany)
  • Oshkosh Corporation (United States)
  • Thales Group (France)
  • Navistar International Corporation (United States)
  • ST Engineering (Singapore)
  • Nexter Group (France)
  • IVECO S.p.A. (Italy)
  • Krauss-Maffei Wegmann GmbH & Co. KG (Germany)
  • Lockheed Martin Corporation (United States)
  • AM General LLC (United States)
  • Textron Inc. (United States)
  • Elbit Systems Ltd. (Israel)
  • KMW + Nexter Defense Systems (KNDS) (Germany/France)
  • Denel Land Systems (South Africa)
  • NORINCO International Cooperation Ltd. (China)
  • FNSS Savunma Sistemleri A.Ş. (Turkey)
  • Rostec State Corporation (Russia)
  • Tata Motors Limited (India)
  • Rosoboronexport (Russia)
  • UkrOboronProm (Ukraine)

Recent Developments

  • In March 2024, the German Bundeswehr (Armed forces of the Federal Republic of Germany) announced a significant procurement from Rheinmetall for the “Schwerer Waffenträger Infanterie,” a heavy weapon carrier for infantry units1. This contract, valued at approximately €2.7 billion, includes up to 123 vehicles and encompasses service and maintenance, with deliveries commencing in 2025. 

  • In November 2023, Oshkosh Defense, LLC announced a significant order from the U.S. Army Contracting Command – Detroit Arsenal for their Joint Light Tactical Vehicles (JLTV), trailers, and associated kits, valued at $208 million. 

  • In March 2023, Oshkosh Defense announced that it had received a $1.2 billion contract from the U.S. Army for the production of the Joint Light Tactical Vehicle (JLTV). The JLTV is a new armored vehicle that is designed to replace the Humvee. 

  • In February 2023, BAE Systems announced that it had received a $2.5 billion contract from the U.S. Army for the production of the Armored Multi-Purpose Vehicle (AMPV). The AMPV is a new armored vehicle that is designed to replace the M113. 

  • In January 2023, Rheinmetall announced that it had received a $1 billion contract from the German government for the production of the Lynx KF41 armored fighting vehicle. The Lynx KF41 is a new armored vehicle that is designed to replace the Leopard 2. 

Armored Vehicles Key Market Trends

Modular and Multirole Platforms 

  • Armored vehicles are evolving towards modular and multirole platforms to enhance operational flexibility. These platforms can be quickly reconfigured with interchangeable mission-specific modules, allowing armored vehicles to adapt to various operational requirements. This trend enables cost savings by reducing the need for dedicated vehicle types for different roles. 

Rise of Unmanned Ground Vehicles (UGVs) 

  • UGVs are emerging as game changers in the armored vehicles market, reducing the risk to human personnel in dangerous environments and being deployed for various missions, including reconnaissance, surveillance, and explosive ordnance disposal. 

Armored Vehicles Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the armored vehicles market has been witnessing steady growth over the years, driven by the need to modernize military fleets. The demand for armored vehicles is primarily driven by defence expenditure, geopolitical factors, counterterrorism efforts, and the need for internal security. Governments around the world allocate significant budgets to procure armored vehicles to enhance their defences capabilities, protect their personnel, and address security threats effectively. The growing focus on modernization and the replacement of aging fleets, increasing demand for lightweight and agile vehicles, expanding requirements for peacekeeping and humanitarian missions, and the emergence of emerging markets present opportunities for armored vehicle manufacturers to capitalize on. The market offers opportunities for innovation, partnerships, and collaborations among industry players to meet the diverse requirements of defence forces worldwide.

Report Metric Details
Market size value in 2023 USD 27.91 billion
Market size value in 2031 USD 45.18 billion
Growth Rate 5.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Electric and Conventional
  • Mobility
    • Wheeled and Tracked
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Oshkosh Corporation (United States)
  • Thales Group (France)
  • Navistar International Corporation (United States)
  • ST Engineering (Singapore)
  • Nexter Group (France)
  • IVECO S.p.A. (Italy)
  • Krauss-Maffei Wegmann GmbH & Co. KG (Germany)
  • Lockheed Martin Corporation (United States)
  • AM General LLC (United States)
  • Textron Inc. (United States)
  • Elbit Systems Ltd. (Israel)
  • KMW + Nexter Defense Systems (KNDS) (Germany/France)
  • Denel Land Systems (South Africa)
  • NORINCO International Cooperation Ltd. (China)
  • FNSS Savunma Sistemleri A.Ş. (Turkey)
  • Rostec State Corporation (Russia)
  • Tata Motors Limited (India)
  • Rosoboronexport (Russia)
  • UkrOboronProm (Ukraine)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Armored Vehicles Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Armored Vehicles Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Armored Vehicles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Armored Vehicles Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Armored Vehicles Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Armored Vehicles Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Armored Vehicles Market size was valued at USD 27.91 billion in 2021 and is poised to grow from USD 29.44 billion in 2022 to USD 45.18 billion by 2030, at a CAGR of 5.5% during the forecast period (2023-2030).

The collaboration of major players with businesses producing cutting-edge systems and components is stressed in order to give their products cutting-edge technology for improved combat capabilities. An international conglomerate of aerospace and technology formed a partnership to pool resources, knowledge, and expertise in order to create armored vehicles in India. Two leading manufacturing and technology businesses will work together in this partnership due to their similar synergies and complementary skill sets. 'BAE Systems plc (United Kingdom)', 'General Dynamics Corporation (United States)', 'Rheinmetall AG (Germany)', 'Oshkosh Corporation (United States)', 'Thales Group (France)', 'Navistar International Corporation (United States)', 'ST Engineering (Singapore)', 'Nexter Group (France)', 'IVECO S.p.A. (Italy)', 'Krauss-Maffei Wegmann GmbH & Co. KG (Germany)', 'Lockheed Martin Corporation (United States)', 'AM General LLC (United States)', 'Textron Inc. (United States)', 'Elbit Systems Ltd. (Israel)', 'KMW + Nexter Defense Systems (KNDS) (Germany/France)', 'Denel Land Systems (South Africa)', 'NORINCO International Cooperation Ltd. (China)', 'FNSS Savunma Sistemleri A.Ş. (Turkey)', 'Rostec State Corporation (Russia)', 'Tata Motors Limited (India)', 'Rosoboronexport (Russia)', 'UkrOboronProm (Ukraine)'

Armored vehicles play a crucial role in peacekeeping and humanitarian missions conducted by international organizations and coalitions. These vehicles provide protection to personnel involved in these missions and assist in maintaining stability and delivering aid in conflict-affected regions.

Armored vehicles are evolving towards modular and multirole platforms to enhance operational flexibility. These platforms can be quickly reconfigured with interchangeable mission-specific modules, allowing armored vehicles to adapt to various operational requirements. This trend enables cost savings by reducing the need for dedicated vehicle types for different roles.

Over 32% of revenue in 2022 came from the Asia Pacific region, which had the largest proportion. The government's initiatives to boost military capability to combat both internal and external terrorism are responsible for the region's development. Additionally, a number of government entities are making large investments to expand the defense industry. For instance, Otokar, a Turkish military vehicle manufacturer with headquarters in Sakarya, set out to increase its presence in the Asia Pacific region in March 2022. At the Defense Services Asia expo in Kuala Lumpur, Malaysia, the company showed COBRA II tactical armored vehicles as well as ARMA 66 wheeled armored vehicles. To fulfil present and future customer expectations, the company plans to grow its regional operations.

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