According to Market Study Report, Armored Vehicles Market provides a comprehensive analysis of the Armored Vehicles Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.
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The Global Armored Vehicles Market size is projected to grow from USD 11.6 Billion in 2020 to USD 15.4 Billion by 2025, at a CAGR of 5.8% from 2020 to 2025.
Top Companies Profiled in the Armored Vehicles Market:
- Oshkosh Corporation (US)
- Ukroboronprom (Ukraine)
- General Dynamics Corporation (US)
- BAE Systems plc (UK)
- NORINCO (China)
- Rheinmetall AG (Germany)
“The combat vehicles segment is projected to lead the armored vehicles market during the forecast period.”
Based on the platform, the armored vehicles market has been segmented into combat vehicles, combat support vehicles, and unmanned armored ground vehicles. The unmanned armored ground vehicle segment is projected to grow at the highest CAGR during the forecast period.
“The wheeled segment is projected to grow at a higher CAGR as compared to the tracked segment from 2020 to 2025”
Based on mobility, the market has been segmented into wheeled and tracked. The wheeled segment is projected to grow at a higher CAGR as compared to the tracked segment during the forecast period. Increased demand for 4×4 light armored vehicles by military forces to carry out Intelligence, Surveillance, and Reconnaissance (ISR) activities and transport defense personnel and equipment from one location to another is fueling the growth of this segment of the market.
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