Raipur, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Armored Vehicle Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the armored vehicle market is driven by a host of factors, some of which are noted below:
- The growth of the companies is directly dependent on the industry conditions and government support.
- A substantial increase in asymmetric combat worldwide over the past decade because of political instability and socio-cultural, economic, and religious factors.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Armored Vehicle Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Platform (Combat and Combat Support Vehicles),
- By Mode of Operation (Manned and Unmanned),
- By Type (Conventional and Electric),
- By Mobility (Tracked and Wheeled),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Armored Vehicle Market Insights
Market Trends by Platform Type
The market is bifurcated into combat, combat support vehicles and unmanned armored ground vehicles. The combat vehicles are expected to remain the biggest market for armored vehicle in the forecast period. These vehicles are frequently used for vehicles by military to ensure safety in case of an ambush or attack. Moreover, with the increasing terror threats and border disputes, the demand for armored vehicles is expected to intensify
Market Trends by Mobility Type
The market is segmented as tracked and wheeled. The tracked mobility accounts for the largest market share in 2021, increasing demand for 4x4 armored vehicles transportation and ISR. For instance, In May 2020, China North Industries Group Corporation has developed airdrop capable four wheeled armoured vehicle. At the same time, the tracked segment is expected to experience the highest growth during the forecast period. The high growth is mainly attributed to the rising adoption of combat vehicles and tanks utilized in rough terrain.
Which region offers the best opportunity and growth?
North America is likely to maintain its supremacy in the armored vehicle market throughout the forecast period. This is mostly due to the high defense budget and spending to strengthen the armed forces. The spending is mainly for the procurement of advanced defence vehicles and modernization of defence fleet. Furthermore, the presence of major market players is also contributing towards the growth.
COVID-19 Impact on the armored vehicle market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2921/armored-vehicle-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Bae Systems Plc
- China North Industries Corporation (Norinco)
- Denel Soc Ltd.
- General Dynamics Corporation
- Hanwha Corporation
- Hyundai Rotem
- Krauss-Maffei Wegmann
- Mitsubishi Heavy Industries
- Nexter Group
- Ordnance Factory Board
- Otokar Otomotive Ve Savunma Sanayi
- Rheinmetall Ag
- Textron Inc.
- Ukroboronprom
- Oshkosh Corporation
What deliverables will you get in this report?
- In-depth analysis of the armored vehicle market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
Related reports which might be useful:
1. Unmanned Ground Vehicles Market
2. Electric Vehicle Recycled Battery Materials Market
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Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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