Market Overview:
The global armored vehicles upgrade and retrofit market is estimated to be USD XX million in 2018 and is projected to reach USD XX million by 2030, at a CAGR of X.X%, during the forecast period. The growth of the armored vehicles upgrade and retrofit market can be attributed to the increasing demand for upgraded and advanced armored vehicles from military and commercial applications. The global armored vehicles upgrade and retrofit market has been segmented on the basis of type, application, and region. On the basis of type, the market has been segmented into main battle tank (MBT), light protected vehicle (LTV), amphibious armored vehicle (AAV), mine-resistant ambush protected (MRAP), infantry fighting vehicle (IFV), armoured personnel carrier (APC), and others. The MBT segment is expected to account for a major share of the global Armored Vehicles Upgrade And Retrofit Market in 2018 owing to its high demand from militaries across different regions worldwide. On the basis of application,the market has been divided into militaryand commercial applications.
Product Definition:
Armored Vehicles Upgrade and Retrofit is the process of improving or modifying the armor protection of a military vehicle. The purpose of this is to increase the vehicle's ability to resist enemy fire and better protect its crew and passengers.
Main Battle Tank:
The global Main Battle Tanks (MBT) market size was valued at USD 4.83 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. Increasing demand for modernized & armored vehicles, rising security threats, and growing economies are some factors driving the MBT industry growth globally.
Light Protected Vehicles:
Light Protected Vehicles (LPV) are a new type of vehicle that has gained significant traction in the global armored vehicles market. LPVs have been designed to offer high levels of protection with limited or minimal aesthetic impairment, which is considered an important factor for military and law enforcement applications. The growing emphasis on improving security measures across various commercial and government establishments has led to increased adoption of LPVs as well.
Application Insights:
The military application segment led the market and accounted for more than 70.0% share of the global revenue in 2017. Armored vehicles are widely used by armed forces to provide enhanced protection to soldiers against small arms fire, shrapnel, and shell splinters while ensuring mobility on uneven terrains at high speeds. The adoption of such vehicles has been significantly higher in developed economies such as North America and Europe where there is a strong presence of professional armed forces whereas it has been comparatively low in developing regions due to lack of professional military force or under-equipped army which leads to reduced demand for armored vehicles among these regions.
Commercial applications include transport, logistics, utility trucks/vans among others where heavy armor provides additional protection against attacks from criminals or terrorist organizations who may use automobiles as weapons.
Regional Analysis:
The Asia Pacific region is anticipated to witness the highest growth over the forecast period owing to rising geopolitical tensions and increasing defense budgets in countries such as India, China, South Korea, and Japan. The Middle East & Africa armored vehicles upgrade & retrofit market is also expected to grow at a significant rate owing to increased government spending on military modernization programs. Armored vehicle production in this region has witnessed an increase due to growing conflicts across the globe. Countries such as South Africa have started manufacturing armored vehicles after being influenced by modern warfare technology exhibited by western nations.
North America was one of the prominent regions that accounted for over 20% of global revenue share in 2016; however, it is anticipated that this percentage will decrease gradually over the next eight years due to lack of new product developments coupled with stringent regulations imposed by U.S.-based organizations like Department Of Defense (DoD) and Federal Motor Carrier Safety Administration (FMCSA).
Growth Factors:
- Increasing demand for armored vehicles from defense and security sectors
- Rising terrorist threats and increasing incidences of cross-border terrorism
- Proliferation of small arms and light weapons (SALW) across the world
- Growing investments in homeland security and military modernization programs by governments worldwide
- Technological advancements in armored vehicle design, armor protection systems, and weapon systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Armored Vehicles Upgrade and Retrofit Market Research Report
By Type
Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine-Resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, Others
By Application
Military, Commercial
By Companies
AM General (US), FNSS Savunma Sistemleri (UAE), MKU (Inidia), Oshkosh Defense (US), Sabiex International (Belgium), BAE Systems(UK), Diehl Defence (Germany), Elbit Systems (Israel), General Dynamics (US), Palbam (Israel), Rheinmetall (Germany), Thales Group (France)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.
Global Armored Vehicles Upgrade and Retrofit Market Report Segments:
The global Armored Vehicles Upgrade and Retrofit market is segmented on the basis of:
Types
Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine-Resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Military, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AM General (US)
- FNSS Savunma Sistemleri (UAE)
- MKU (Inidia)
- Oshkosh Defense (US)
- Sabiex International (Belgium)
- BAE Systems(UK)
- Diehl Defence (Germany)
- Elbit Systems (Israel)
- General Dynamics (US)
- Palbam (Israel)
- Rheinmetall (Germany)
- Thales Group (France)
Highlights of The Armored Vehicles Upgrade and Retrofit Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Main Battle Tank
- Light Protected Vehicles
- Amphibious Armored Vehicles
- Mine-Resistant Ambush Protected
- Infantry Fighting Vehicles
- Armored Personnel Carriers
- Others
- By Application:
- Military
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Armored Vehicles Upgrade and Retrofit Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Armored Vehicles Upgrade and Retrofit is a comprehensive program that provides state-of-the-art armor for armored vehicles. This program upgrades or retrofits existing armored vehicles with the latest in armor technology, providing increased protection against ballistic and explosive threats.
Some of the major companies in the armored vehicles upgrade and retrofit market are AM General (US), FNSS Savunma Sistemleri (UAE), MKU (Inidia), Oshkosh Defense (US), Sabiex International (Belgium), BAE Systems(UK), Diehl Defence (Germany), Elbit Systems (Israel), General Dynamics (US), Palbam (Israel), Rheinmetall (Germany), Thales Group (France).
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Armored Vehicles Upgrade and Retrofit Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Armored Vehicles Upgrade and Retrofit Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Armored Vehicles Upgrade and Retrofit Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Armored Vehicles Upgrade and Retrofit Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Armored Vehicles Upgrade and Retrofit Market Size & Forecast, 2018-2028
4.5.1 Armored Vehicles Upgrade and Retrofit Market Size and Y-o-Y Growth
4.5.2 Armored Vehicles Upgrade and Retrofit Market Absolute $ Opportunity
Chapter 5 Global Armored Vehicles Upgrade and Retrofit Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
5.2.1 Main Battle Tank
5.2.2 Light Protected Vehicles
5.2.3 Amphibious Armored Vehicles
5.2.4 Mine-Resistant Ambush Protected
5.2.5 Infantry Fighting Vehicles
5.2.6 Armored Personnel Carriers
5.2.7 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Armored Vehicles Upgrade and Retrofit Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
6.2.1 Military
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Armored Vehicles Upgrade and Retrofit Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Armored Vehicles Upgrade and Retrofit Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Armored Vehicles Upgrade and Retrofit Analysis and Forecast
9.1 Introduction
9.2 North America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
9.6.1 Main Battle Tank
9.6.2 Light Protected Vehicles
9.6.3 Amphibious Armored Vehicles
9.6.4 Mine-Resistant Ambush Protected
9.6.5 Infantry Fighting Vehicles
9.6.6 Armored Personnel Carriers
9.6.7 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
9.10.1 Military
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Armored Vehicles Upgrade and Retrofit Analysis and Forecast
10.1 Introduction
10.2 Europe Armored Vehicles Upgrade and Retrofit Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
10.6.1 Main Battle Tank
10.6.2 Light Protected Vehicles
10.6.3 Amphibious Armored Vehicles
10.6.4 Mine-Resistant Ambush Protected
10.6.5 Infantry Fighting Vehicles
10.6.6 Armored Personnel Carriers
10.6.7 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
10.10.1 Military
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Armored Vehicles Upgrade and Retrofit Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Armored Vehicles Upgrade and Retrofit Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
11.6.1 Main Battle Tank
11.6.2 Light Protected Vehicles
11.6.3 Amphibious Armored Vehicles
11.6.4 Mine-Resistant Ambush Protected
11.6.5 Infantry Fighting Vehicles
11.6.6 Armored Personnel Carriers
11.6.7 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
11.10.1 Military
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Armored Vehicles Upgrade and Retrofit Analysis and Forecast
12.1 Introduction
12.2 Latin America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
12.6.1 Main Battle Tank
12.6.2 Light Protected Vehicles
12.6.3 Amphibious Armored Vehicles
12.6.4 Mine-Resistant Ambush Protected
12.6.5 Infantry Fighting Vehicles
12.6.6 Armored Personnel Carriers
12.6.7 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
12.10.1 Military
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Armored Vehicles Upgrade and Retrofit Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Armored Vehicles Upgrade and Retrofit Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Armored Vehicles Upgrade and Retrofit Market Size Forecast by Type
13.6.1 Main Battle Tank
13.6.2 Light Protected Vehicles
13.6.3 Amphibious Armored Vehicles
13.6.4 Mine-Resistant Ambush Protected
13.6.5 Infantry Fighting Vehicles
13.6.6 Armored Personnel Carriers
13.6.7 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Armored Vehicles Upgrade and Retrofit Market Size Forecast by Applications
13.10.1 Military
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Armored Vehicles Upgrade and Retrofit Market: Competitive Dashboard
14.2 Global Armored Vehicles Upgrade and Retrofit Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AM General (US)
14.3.2 FNSS Savunma Sistemleri (UAE)
14.3.3 MKU (Inidia)
14.3.4 Oshkosh Defense (US)
14.3.5 Sabiex International (Belgium)
14.3.6 BAE Systems(UK)
14.3.7 Diehl Defence (Germany)
14.3.8 Elbit Systems (Israel)
14.3.9 General Dynamics (US)
14.3.10 Palbam (Israel)
14.3.11 Rheinmetall (Germany)
14.3.12 Thales Group (France)
