Market Overview:
The global armoured fighting vehicles (AFV) market is expected to grow at a CAGR of 3.8% from 2018 to 2030. The market growth is attributed to the increasing demand for AFVs from the military and commercial sectors across the globe. In terms of type, the active armoured vehicle segment is projected to lead the global AFV market during the forecast period, owing to its features such as high protection and mobility. By application, the military sector accounted for a majority share of the global AFV market in 2017 and is projected to maintain its dominance duringthe forecast period.
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Product Definition:
An armoured fighting vehicle (AFV) is a combat vehicle, protected by armour and armed with weapons, which is used to transport troops or materiel.
Active Armored Vehicle:
Active armored vehicle, also known as light protected vehicle (LPV) or combatant mobility initiative (CMI) is a program for the development of mine-resistant, light protected and armed vehicles. The program was initiated by the U.S. Army in 2003 with an objective to develop a new generation of AFVs that would provide improved protection against Improvised Explosive Devices (IEDs), anti-tank mines and ballistic threats while moving through different terrains at high speed.
Passive Armored Vehicles:
Passive armored vehicles are designed to protect the soldiers and military personnel inside it from external threats. AFVs are used by the armed forces for land-based warfare. The primary function of an AFV is to provide protection to its occupants against all types of ballistic and stab attacks, which can be achieved by means of adding layers of metal plates within the vehicle or mounting a gun on it.
Application Insights:
The military application segment led the global armoured fighting vehicles (AFV) market in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing demand for robust and durable AFVs, capable of withstanding harsh environments, by countries such as China, India and South Korea. Furthermore, countries such as Australia are also planning on acquiring heavily armoured tracked combat vehicles for their Armoured Vehicle Squadron (AVS).
Commercial applications include security firms protecting VIPs or valuable assets; armed convoys transporting cash or valuables; logistics companies protecting valuable cargoes; utility companies providing water & electricity in remote areas among others. Increasing commercial activities across regions has increased the need for robust AFVs that offer protection against attacks from criminals using firearms or improvised explosive devices (IEDs). This factor is expected to drive the demand over the forecast period.
Regional Analysis:
North America dominated the global market in 2017 owing to high demand for military vehicles and increasing threat of terrorist activities across the region. The U.S., being the most powerful nation, is expected to dominate this regional market over the forecast period. However, Asia Pacific is anticipated to be a lucrative region during the same period owing to growing economies and increasing government spending on military operations against rebels and militants in countries such as Afghanistan, India-administered Kashmir (IoK), Pakistan Occupied Kashmir (POK), etc. Moreover, rising tensions between China and India are also expected to boost product demand in APAC over next eight years.
Growth Factors:
- Increasing demand for AFVs from militaries across the globe to replace aging equipment and meet modern warfare requirements.
- Proliferation of regional conflicts and terrorism, which is driving the need for advanced AFVs with enhanced capabilities.
- Growing investments by countries in their defence sectors to upgrade their armoured vehicle fleets.
- Rapid advancements in armoured vehicle technologies, resulting in increased demand for sophisticated AFVs.
Scope Of The Report
Report Attributes
Report Details
Report Title
Armoured Fighting Vehicles (AFV) Market Research Report
By Type
Active Armored Vehicle, Passive Armored Vehicles
By Application
Military, Commercial
By Companies
General Dynamics Corporation (US), BAE Systems Plc. (UK), Textron Inc. (US), Oshkosh Corporation (US), Elbit Systems(Israel), Thales Group (France), Lockheed Martin (US), Rheinmetall AG (Germany), Denel Land Systems (South Africa), Sabiex International (Belgium), General Dynamics Corporation (US)
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
198
Number of Tables & Figures
139
Customization Available
Yes, the report can be customized as per your need.
Global Armoured Fighting Vehicles (AFV) Market Report Segments:
The global Armoured Fighting Vehicles (AFV) market is segmented on the basis of:
Types
Active Armored Vehicle, Passive Armored Vehicles
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:
- General Dynamics Corporation (US)
- BAE Systems Plc. (UK)
- Textron Inc. (US)
- Oshkosh Corporation (US)
- Elbit Systems(Israel)
- Thales Group (France)
- Lockheed Martin (US)
- Rheinmetall AG (Germany)
- Denel Land Systems (South Africa)
- Sabiex International (Belgium)
- General Dynamics Corporation (US)
 Market Overview.svg)
Highlights of The Armoured Fighting Vehicles (AFV) 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:
- Active Armored Vehicle
- Passive Armored Vehicles
- 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 Armoured Fighting Vehicles (AFV) 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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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?
Armoured fighting vehicles are armoured vehicles that are designed to protect their crew and passengers from enemy fire. AFVs can be wheeled or tracked, and can carry a variety of weapons systems to support their combat operations.
Some of the major players in the armoured fighting vehicles (afv) market are General Dynamics Corporation (US), BAE Systems Plc. (UK), Textron Inc. (US), Oshkosh Corporation (US), Elbit Systems(Israel), Thales Group (France), Lockheed Martin (US), Rheinmetall AG (Germany), Denel Land Systems (South Africa), Sabiex International (Belgium), General Dynamics Corporation (US).
The armoured fighting vehicles (afv) market is expected to grow at a compound annual growth rate of 3.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size & Forecast, 2018-2028
4.5.1 Armoured Fighting Vehicles (AFV) Market Size and Y-o-Y Growth
4.5.2 Armoured Fighting Vehicles (AFV) Market Absolute $ Opportunity
Chapter 5 Global Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
5.2.1 Active Armored Vehicle
5.2.2 Passive Armored Vehicles
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Applications
6.2.1 Military
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Analysis and Forecast
9.1 Introduction
9.2 North America Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
9.6.1 Active Armored Vehicle
9.6.2 Passive Armored Vehicles
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 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Analysis and Forecast
10.1 Introduction
10.2 Europe Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
10.6.1 Active Armored Vehicle
10.6.2 Passive Armored Vehicles
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 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
11.6.1 Active Armored Vehicle
11.6.2 Passive Armored Vehicles
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 Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Analysis and Forecast
12.1 Introduction
12.2 Latin America Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
12.6.1 Active Armored Vehicle
12.6.2 Passive Armored Vehicles
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 Armoured Fighting Vehicles (AFV) 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) Armoured Fighting Vehicles (AFV) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Armoured Fighting Vehicles (AFV) 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) Armoured Fighting Vehicles (AFV) Market Size Forecast by Type
13.6.1 Active Armored Vehicle
13.6.2 Passive Armored Vehicles
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) Armoured Fighting Vehicles (AFV) 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 Armoured Fighting Vehicles (AFV) Market: Competitive Dashboard
14.2 Global Armoured Fighting Vehicles (AFV) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 General Dynamics Corporation (US)
14.3.2 BAE Systems Plc. (UK)
14.3.3 Textron Inc. (US)
14.3.4 Oshkosh Corporation (US)
14.3.5 Elbit Systems(Israel)
14.3.6 Thales Group (France)
14.3.7 Lockheed Martin (US)
14.3.8 Rheinmetall AG (Germany)
14.3.9 Denel Land Systems (South Africa)
14.3.10 Sabiex International (Belgium)
14.3.11 General Dynamics Corporation (US)
