TMCnet News
Armored Vehicle Market Size Worth $36.4 Billion by 2025 | CAGR: 5.4%: Grand View Research, Inc.SAN FRANCISCO, Feb. 13, 2019 /PRNewswire/ -- The global armored vehicle market size is expected to reach USD 36.4 billion by 2025, registering a CAGR of 5.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Growing internal and external terrorist activities across the globe are expected to drive market demand over the forecast period. Technological advancements such as unmanned vehicles are expected to further fuel market growth.  Key suggestions from the report:
Read 201 page research report with TOC on "Armored Vehicle Market Size, Share & Trends Analysis Report By Product (Defense, Commercial), By Application (Main Battle Tanks, Armored Personnel Carrier), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/armored-vehicle-market Armored vehicles are protected by layers of depleted uranium or stainless-steel and are equipped with robust weapons that combine defensive, tactical offensive, and operational mobility capabilities. Development of advanced vehicles and technologies such s unmanned armored vehicle and AI-based smart object recognition and tracking technology to be used in the military sector is expected to propel the market over the next few years. Growing need to protect military recruits from land mines and fire is expected to drive demand for armored vehicles over the forecast period. Furthermore, demand for these vehicles is increasing in the Asia Pacific and Middle East and Africa regions owing to constant tension among neighboring countries and internal threats from rebels. Connect with our analyst for specific inquiries about this market Major market players are making massive investments in research and development programs to develop new technologies and products. Enhanced protection and fuel efficiency are key aspects considered for future developments in armored vehicles. For instance, in April 2018, BAE Systems developed a new version of the Armored Multi-Purpose Vehicle (AMPV), which was equipped with mine roller systems. The vehicle is widely used for protection against improvised explosive devices. Grand View Research has segmented the global armored vehicle market on the basis of product, application, and region:
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports Browse related reports by Grand View Research:
About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James
|