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Emerging Markets Driving Armored Vehicle Procurement and Upgrade Industry Growth

Armored Vehicle Procurement and Upgrade Industry by Vehicle Type (Armored Personnel Carrier (APC), Infantry Fighting Vehicle (IFV), Mine-resistant Ambush Protected (MRAP), Main Battle Tank (MBT), Other Vehicle Types), by North America (United States, Canada), by Europe (United Kingdom, France, Germany, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East, by United Arab Emirates (Saudi Arabia, Turkey, South Africa, Rest of Middle East and Africa) Forecast 2026-2034

Base Year: 2025
234 Pages
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Emerging Markets Driving Armored Vehicle Procurement and Upgrade Industry Growth

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Geographic Coverage of Armored Vehicle Procurement and Upgrade Industry

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Armored Vehicle Procurement and Upgrade Industry REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 4.23% from 2020-2034
Segmentation
    • By Vehicle Type
      • Armored Personnel Carrier (APC)
      • Infantry Fighting Vehicle (IFV)
      • Mine-resistant Ambush Protected (MRAP)
      • Main Battle Tank (MBT)
      • Other Vehicle Types
  • By Geography
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • France
      • Germany
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East
    • United Arab Emirates
      • Saudi Arabia
      • Turkey
      • South Africa
      • Rest of Middle East and Africa

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Objective
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Market Snapshot
  3. 3. Market Dynamics
    • 3.1. Market Drivers
    • 3.2. Market Restrains
    • 3.3. Market Trends
    • 3.4. Market Opportunities
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
      • 4.1.1. Bargaining Power of Suppliers
      • 4.1.2. Bargaining Power of Buyers
      • 4.1.3. Threat of New Entrants
      • 4.1.4. Threat of Substitutes
      • 4.1.5. Competitive Rivalry
    • 4.2. PESTEL analysis
    • 4.3. BCG Analysis
      • 4.3.1. Stars (High Growth, High Market Share)
      • 4.3.2. Cash Cows (Low Growth, High Market Share)
      • 4.3.3. Question Mark (High Growth, Low Market Share)
      • 4.3.4. Dogs (Low Growth, Low Market Share)
    • 4.4. Ansoff Matrix Analysis
    • 4.5. Supply Chain Analysis
    • 4.6. Regulatory Landscape
    • 4.7. Current Market Potential and Opportunity Assessment (TAM–SAM–SOM Framework)
    • 4.8. PMV Analyst Note
  5. 5. Market Analysis, Insights and Forecast 2021-2033
    • 5.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 5.1.1. Armored Personnel Carrier (APC)
      • 5.1.2. Infantry Fighting Vehicle (IFV)
      • 5.1.3. Mine-resistant Ambush Protected (MRAP)
      • 5.1.4. Main Battle Tank (MBT)
      • 5.1.5. Other Vehicle Types
    • 5.2. Market Analysis, Insights and Forecast - by Region
      • 5.2.1. North America
      • 5.2.2. Europe
      • 5.2.3. Asia Pacific
      • 5.2.4. Latin America
      • 5.2.5. Middle East
      • 5.2.6. United Arab Emirates
  6. 6. Global Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2021-2033
    • 6.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 6.1.1. Armored Personnel Carrier (APC)
      • 6.1.2. Infantry Fighting Vehicle (IFV)
      • 6.1.3. Mine-resistant Ambush Protected (MRAP)
      • 6.1.4. Main Battle Tank (MBT)
      • 6.1.5. Other Vehicle Types
  7. 7. North America Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 7.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 7.1.1. Armored Personnel Carrier (APC)
      • 7.1.2. Infantry Fighting Vehicle (IFV)
      • 7.1.3. Mine-resistant Ambush Protected (MRAP)
      • 7.1.4. Main Battle Tank (MBT)
      • 7.1.5. Other Vehicle Types
  8. 8. Europe Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 8.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 8.1.1. Armored Personnel Carrier (APC)
      • 8.1.2. Infantry Fighting Vehicle (IFV)
      • 8.1.3. Mine-resistant Ambush Protected (MRAP)
      • 8.1.4. Main Battle Tank (MBT)
      • 8.1.5. Other Vehicle Types
  9. 9. Asia Pacific Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 9.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 9.1.1. Armored Personnel Carrier (APC)
      • 9.1.2. Infantry Fighting Vehicle (IFV)
      • 9.1.3. Mine-resistant Ambush Protected (MRAP)
      • 9.1.4. Main Battle Tank (MBT)
      • 9.1.5. Other Vehicle Types
  10. 10. Latin America Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 10.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 10.1.1. Armored Personnel Carrier (APC)
      • 10.1.2. Infantry Fighting Vehicle (IFV)
      • 10.1.3. Mine-resistant Ambush Protected (MRAP)
      • 10.1.4. Main Battle Tank (MBT)
      • 10.1.5. Other Vehicle Types
  11. 11. Middle East Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 11.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 11.1.1. Armored Personnel Carrier (APC)
      • 11.1.2. Infantry Fighting Vehicle (IFV)
      • 11.1.3. Mine-resistant Ambush Protected (MRAP)
      • 11.1.4. Main Battle Tank (MBT)
      • 11.1.5. Other Vehicle Types
  12. 12. United Arab Emirates Armored Vehicle Procurement and Upgrade Industry Analysis, Insights and Forecast, 2020-2032
    • 12.1. Market Analysis, Insights and Forecast - by Vehicle Type
      • 12.1.1. Armored Personnel Carrier (APC)
      • 12.1.2. Infantry Fighting Vehicle (IFV)
      • 12.1.3. Mine-resistant Ambush Protected (MRAP)
      • 12.1.4. Main Battle Tank (MBT)
      • 12.1.5. Other Vehicle Types
  13. 13. Competitive Analysis
      • 13.1. Company Profiles
        • 13.1.1 Textron Inc
          • 13.1.1.1. Company Overview
          • 13.1.1.2. Products
          • 13.1.1.3. Company Financials
          • 13.1.1.4. SWOT Analysis
        • 13.1.2 RUAG International Holding Ltd
          • 13.1.2.1. Company Overview
          • 13.1.2.2. Products
          • 13.1.2.3. Company Financials
          • 13.1.2.4. SWOT Analysis
        • 13.1.3 FNSS Savunma Sistemleri A Ş
          • 13.1.3.1. Company Overview
          • 13.1.3.2. Products
          • 13.1.3.3. Company Financials
          • 13.1.3.4. SWOT Analysis
        • 13.1.4 THALES
          • 13.1.4.1. Company Overview
          • 13.1.4.2. Products
          • 13.1.4.3. Company Financials
          • 13.1.4.4. SWOT Analysis
        • 13.1.5 Oshkosh Corporation
          • 13.1.5.1. Company Overview
          • 13.1.5.2. Products
          • 13.1.5.3. Company Financials
          • 13.1.5.4. SWOT Analysis
        • 13.1.6 General Dynamics Corporation
          • 13.1.6.1. Company Overview
          • 13.1.6.2. Products
          • 13.1.6.3. Company Financials
          • 13.1.6.4. SWOT Analysis
        • 13.1.7 Rheinmetall AG
          • 13.1.7.1. Company Overview
          • 13.1.7.2. Products
          • 13.1.7.3. Company Financials
          • 13.1.7.4. SWOT Analysis
        • 13.1.8 Elbit Systems Ltd
          • 13.1.8.1. Company Overview
          • 13.1.8.2. Products
          • 13.1.8.3. Company Financials
          • 13.1.8.4. SWOT Analysis
        • 13.1.9 The CMI Group Inc
          • 13.1.9.1. Company Overview
          • 13.1.9.2. Products
          • 13.1.9.3. Company Financials
          • 13.1.9.4. SWOT Analysis
        • 13.1.10 BMC Otomotiv Sanayi ve Ticaret A Ş
          • 13.1.10.1. Company Overview
          • 13.1.10.2. Products
          • 13.1.10.3. Company Financials
          • 13.1.10.4. SWOT Analysis
        • 13.1.11 KNDS N V
          • 13.1.11.1. Company Overview
          • 13.1.11.2. Products
          • 13.1.11.3. Company Financials
          • 13.1.11.4. SWOT Analysis
        • 13.1.12 Streit Grou
          • 13.1.12.1. Company Overview
          • 13.1.12.2. Products
          • 13.1.12.3. Company Financials
          • 13.1.12.4. SWOT Analysis
        • 13.1.13 IVECO S p A
          • 13.1.13.1. Company Overview
          • 13.1.13.2. Products
          • 13.1.13.3. Company Financials
          • 13.1.13.4. SWOT Analysis
        • 13.1.14 BAE Systems plc
          • 13.1.14.1. Company Overview
          • 13.1.14.2. Products
          • 13.1.14.3. Company Financials
          • 13.1.14.4. SWOT Analysis
      • 13.2. Market Entropy
        • 13.2.1 Company's Key Areas Served
        • 13.2.2 Recent Developments
      • 13.3. Company Market Share Analysis 2025
        • 13.3.1 Top 5 Companies Market Share Analysis
        • 13.3.2 Top 3 Companies Market Share Analysis
    • 13.4. List of Potential Customers
  14. 14. Research Methodology

    List of Figures

    1. Figure 1: Global Armored Vehicle Procurement and Upgrade Industry Revenue Breakdown (Million, %) by Region 2025 & 2033
    2. Figure 2: North America Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    3. Figure 3: North America Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    4. Figure 4: North America Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    5. Figure 5: North America Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033
    6. Figure 6: Europe Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    7. Figure 7: Europe Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    8. Figure 8: Europe Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    9. Figure 9: Europe Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033
    10. Figure 10: Asia Pacific Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    11. Figure 11: Asia Pacific Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    12. Figure 12: Asia Pacific Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    13. Figure 13: Asia Pacific Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033
    14. Figure 14: Latin America Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    15. Figure 15: Latin America Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    16. Figure 16: Latin America Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    17. Figure 17: Latin America Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033
    18. Figure 18: Middle East Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    19. Figure 19: Middle East Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    20. Figure 20: Middle East Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    21. Figure 21: Middle East Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033
    22. Figure 22: United Arab Emirates Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Vehicle Type 2025 & 2033
    23. Figure 23: United Arab Emirates Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Vehicle Type 2025 & 2033
    24. Figure 24: United Arab Emirates Armored Vehicle Procurement and Upgrade Industry Revenue (Million), by Country 2025 & 2033
    25. Figure 25: United Arab Emirates Armored Vehicle Procurement and Upgrade Industry Revenue Share (%), by Country 2025 & 2033

    List of Tables

    1. Table 1: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    2. Table 2: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Region 2020 & 2033
    3. Table 3: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    4. Table 4: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    5. Table 5: United States Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    6. Table 6: Canada Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    7. Table 7: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    8. Table 8: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    9. Table 9: United Kingdom Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    10. Table 10: France Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    11. Table 11: Germany Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    12. Table 12: Russia Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    13. Table 13: Rest of Europe Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    14. Table 14: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    15. Table 15: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    16. Table 16: China Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    17. Table 17: India Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    18. Table 18: Japan Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    19. Table 19: South Korea Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    20. Table 20: Australia Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    21. Table 21: Rest of Asia Pacific Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    22. Table 22: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    23. Table 23: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    24. Table 24: Brazil Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    25. Table 25: Mexico Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    26. Table 26: Rest of Latin America Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    27. Table 27: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    28. Table 28: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    29. Table 29: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Vehicle Type 2020 & 2033
    30. Table 30: Global Armored Vehicle Procurement and Upgrade Industry Revenue Million Forecast, by Country 2020 & 2033
    31. Table 31: Saudi Arabia Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    32. Table 32: Turkey Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    33. Table 33: South Africa Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033
    34. Table 34: Rest of Middle East and Africa Armored Vehicle Procurement and Upgrade Industry Revenue (Million) Forecast, by Application 2020 & 2033

    Frequently Asked Questions

    1. What is the projected Compound Annual Growth Rate (CAGR) of the Armored Vehicle Procurement and Upgrade Industry?

    The projected CAGR is approximately 4.23%.

    2. Which companies are prominent players in the Armored Vehicle Procurement and Upgrade Industry?

    Key companies in the market include Textron Inc, RUAG International Holding Ltd, FNSS Savunma Sistemleri A Ş, THALES, Oshkosh Corporation, General Dynamics Corporation, Rheinmetall AG, Elbit Systems Ltd, The CMI Group Inc, BMC Otomotiv Sanayi ve Ticaret A Ş, KNDS N V, Streit Grou, IVECO S p A, BAE Systems plc.

    3. What are the main segments of the Armored Vehicle Procurement and Upgrade Industry?

    The market segments include Vehicle Type.

    4. Can you provide details about the market size?

    The market size is estimated to be USD 6.66 Million as of 2022.

    5. What are some drivers contributing to market growth?

    N/A

    6. What are the notable trends driving market growth?

    The Infantry Fighting Vehicle Segment to Dominate Market Share.

    7. Are there any restraints impacting market growth?

    N/A

    8. Can you provide examples of recent developments in the market?

    May 2023: Elbit Systems Ltd. was awarded a contract under the British Army's Project Vulcan to maintain and operate the Ground Manoeuvre Synthetic Trainer system (GMST), the Boxer armored vehicles, and Challenger 3 tanks. The contract includes a training management system with high-fidelity driver trainers and cabins for turret and armament variants.

    9. What pricing options are available for accessing the report?

    Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.

    10. Is the market size provided in terms of value or volume?

    The market size is provided in terms of value, measured in Million.

    11. Are there any specific market keywords associated with the report?

    Yes, the market keyword associated with the report is "Armored Vehicle Procurement and Upgrade Industry," which aids in identifying and referencing the specific market segment covered.

    12. How do I determine which pricing option suits my needs best?

    The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

    13. Are there any additional resources or data provided in the Armored Vehicle Procurement and Upgrade Industry report?

    While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

    14. How can I stay updated on further developments or reports in the Armored Vehicle Procurement and Upgrade Industry?

    To stay informed about further developments, trends, and reports in the Armored Vehicle Procurement and Upgrade Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

    Methodology

    Step 1 - Identification of Relevant Samples Size from Population Database

    Step Chart
    Bar Chart
    Method Chart

    Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

    Approach Chart
    Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

    Note*: In applicable scenarios

    Step 3 - Data Sources

    Primary Research

    • Web Analytics
    • Survey Reports
    • Research Institute
    • Latest Research Reports
    • Opinion Leaders

    Secondary Research

    • Annual Reports
    • White Paper
    • Latest Press Release
    • Industry Association
    • Paid Database
    • Investor Presentations
    Analyst Chart

    Step 4 - Data Triangulation

    Involves using different sources of information in order to increase the validity of a study

    These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

    Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

    During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

    Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.