Report overview
Armored vehicles refer to transportation and land combat vehicles used for various offensive and defensive operations. They are commonly employed for the transportation of military personnel and cargo as well as operating in active combats. These vehicles are often armed with weapons and protected by an armor against shell fragments, bullets and other projectiles.
Several programs are being conducted to upgrade the equipment and systems in old armored vehicles across the globe. Led by the availability of modern and evolved warfare technologies, these programs are driving the growth of the upgrade and retrofit market. Additionally, many countries are expanding their military budgets on account of increasing terrorism and hostile activities. These activities have also resulted in the requirement of frequent repairing and installation of new parts in armored vehicles.
This report contains market size and forecasts of Armored Vehicles Upgrade and Retrofit in Global, including the following market information:
Global Armored Vehicles Upgrade and Retrofit Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Armored Vehicles Upgrade and Retrofit market was valued at 4376.4 million in 2021 and is projected to reach US$ 5030.4 million by 2028, at a CAGR of 2.0% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Main Battle Tank Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Armored Vehicles Upgrade and Retrofit include AM General (US), FNSS Savunma Sistemleri (UAE), MKU (Inidia), Oshkosh Defense (US), Sabiex International (Belgium), BAE Systems(UK), Diehl Defence (Germany), Elbit Systems (Israel) and General Dynamics (US), etc. In 2021, the global top five players have a share approximately % in terms of revenue.
We surveyed the Armored Vehicles Upgrade and Retrofit companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Armored Vehicles Upgrade and Retrofit Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Armored Vehicles Upgrade and Retrofit Market Segment Percentages, by Type, 2021 (%)
Main Battle Tank
Light Protected Vehicles
Amphibious Armored Vehicles
Mine-Resistant Ambush Protected
Infantry Fighting Vehicles
Armored Personnel Carriers
Others
Global Armored Vehicles Upgrade and Retrofit Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Armored Vehicles Upgrade and Retrofit Market Segment Percentages, by Application, 2021 (%)
Military
Commercial
Global Armored Vehicles Upgrade and Retrofit Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Armored Vehicles Upgrade and Retrofit Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Armored Vehicles Upgrade and Retrofit revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Armored Vehicles Upgrade and Retrofit revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
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)
