Global Military Armored Vehicles and MRO market to grow at a substantial rate
The ability to offer ground forces increased capabilities pertaining to protection and munitions is expected to spur the need for armored vehicles over the forecast period. The threat from neighboring nations and insurgency issues will also be a major factor expected to contribute to the increasing demand for armored vehicles. Furthermore, the large base of existing inventory as well as new procurements throughout the next decade will create the need for servicing and maintenance activities, which is expected to fuel the armored vehicles MRO market to a great extent.
Global Armored Vehicles and MRO market to value US$307.3 billion over 2016-2026
The Global Armored Vehicles and MRO Market, valued at US$22.5 billion in 2016, is projected to grow at a CAGR of 3.71% over the 2016-2026 period, to reach US$32.4 billion by 2026. The market consists of six categories: MBT, IFV, APC, MRAP, LMV, and tactical trucks. The market is expected to be dominated by the IFV segment, which is expected to account for 32.2% of the market, followed by MBT and APC with shares of 25.8% and 17.4%, respectively. The Asia-Pacific region is forecasted to dominate the sector with a share of 26.8%, followed by North America and Europe with shares of 24.8% and 23.9%, respectively.
Strategic Defence Intelligence’s latest report The Global Military Armoured Vehicles and MRO Market 2016-2026, offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for armored vehicles, key market trends, and challenges faced by industry participants.
Price: $4,800 (Single User License)
Published: Aug 2016
Publisher: Strategic Defence Intelligence
Report Format: electronic pdf