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| Market size in 2024 | US$ 18.92 billion |
Forecast Market size by 2030 | US$ 28.45 billion |
|---|---|---|---|
| Growth Rate | CAGR of 7.0% | Number of Pages | 127 Pages |
The global AFV market size was valued at US$ 18.92 billion in 2024 and is projected to reach US$ 28.45 billion by 2030, at a CAGR of 7.0% during the forecast period 2024-2030.
The United States AFV market size was valued at US$ 6.78 billion in 2024 and is projected to reach US$ 9.89 billion by 2030, at a CAGR of 6.5% during the forecast period 2024-2030.
Combat vehicles with protective armor and offensive capabilities.
The global market is growing steadily, driven by military modernization. In 2023, total production reached 15,000 units, with infantry fighting vehicles accounting for 45% of demand. The light armored vehicle segment is growing at 7.8% annually. The market saw a 28% increase in demand for advanced protection systems in 2023. Tracked vehicles dominate with a 55% market share, while wheeled vehicles are growing at 8% annually. North America leads with a 42% market share, while Asia Pacific is the fastest-growing region at 8.2% CAGR. The industry is focusing on developing active protection systems, with a 35% growth in R&D investments.
Report Overview
An armoured fighting vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities. AFVs can be wheeled or tracked. Main battle tanks, armoured cars, armoured self-propelled guns, and armoured personnel carriers are all examples of AFVs.
This report provides a deep insight into the global Armoured Fighting Vehicles (AFV) market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Armoured Fighting Vehicles (AFV) Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Armoured Fighting Vehicles (AFV) market in any manner.
Global Armoured Fighting Vehicles (AFV) Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
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)
Diehl Defense (Germany)
Market Segmentation (by Type)
Active Armored Vehicle
Passive Armored Vehicles
Market Segmentation (by Application)
Military
Commercial
Geographic Segmentation
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Armoured Fighting Vehicles (AFV) Market
Overview of the regional outlook of the Armoured Fighting Vehicles (AFV) Market:
Key Reasons to Buy this Report:
Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
This enables you to anticipate market changes to remain ahead of your competitors
You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
Includes in-depth analysis of the market from various perspectives through Porter
| Report Attributes | Report Details |
|---|---|
| Report Title | Global Armoured Fighting Vehicles (AFV) Market Research Report 2024(Status and Outlook) |
| Market size in 2024 | US$ 18.92 billion |
| Forecast Market size by 2030 | US$ 28.45 billion |
| Growth Rate | CAGR of 7.0% |
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year | 2023 |
| Forecast Year | 2031 |
| Number of Pages | 127 Pages |
| Customization Available | Yes, the report can be customized as per your need. |
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