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Armored Vehicle Market to Signify Strong Growth by 2030

2024-04-22 01:55:40
Report

The global market for armored vehicles was valued at USD 19.5 billion in 2022 and is expected to experience substantial growth, reaching USD 33.9 billion by 2030 with a compound annual growth rate (CAGR) of 6.2% during the forecast period.

Armored vehicles are combat vehicles equipped with protective armor that combines offensive and defensive capabilities with operational mobility. The expansion of the market is being driven by advancements in military vehicle technology, including artillery, automotive, electronics, and metallurgy. This has led to the introduction of next-generation vehicles featuring reactive armor technology, programmable ammunition, sophisticated autoloaders, and other advanced features.

Informational Source:

https://www.fortunebusinessinsights.com/industry-reports/armored-vehicle-market-101817

Key Companies Covered in Armored Vehicle Market are:

  • BAE Systems (U.K.)
  • General Dynamics Corporation (U.S.)
  • Rheinmetall AG (Germany)
  • Krauss-Maffei Wegmann GmbH (Germany)
  • Denel SOC ltd (South Africa)
  • IVECO DEFENCE VEHICLES (Italy)
  • NORINCOGROUP.com Inc. (China)
  • Oshkosh Defense, LLC An Oshkosh Corporation Company (U.S.)
  • Otokar, a KOC Group Company (Turkey)
  • Textron Systems (U.S.)

Commercial and technological advancements have played a significant role in the military vehicle and allied equipment sector. These advancements have led to the adoption of quick acquisition policies and the development of cutting-edge systems enhanced by artificial intelligence, advanced sensors, and virtual and synthetic elements. While research and development funding has increased, the focus of the military vehicle community remains on durability, lethality, agility, connectivity, autonomy, and modularity. The demand for light-protected mobility is increasing, but there is also a growing investment in lighter, more affordable, and highly accurate active protection systems for main battle tanks (MBTs), which is driving market growth.


Hybrid electric drive systems offer several benefits, including improved silent mobility, reduced noise, and enhanced stealth capabilities. These systems also have the potential to reduce the armed forces' reliance on fossil fuels and bring about technological and operational improvements. In January 2022, the University of Wisconsin received a contract from the U.S. Army to study the integration of hybrid powertrains into the fleet. Additionally, the U.S. Army's electric Light Reconnaissance Vehicle (eLRV) is likely to be equipped with a hybrid system before transitioning to full electrification. Furthermore, Oshkosh Defense unveiled its electric military vehicle, the eJLTV, in January 2022. The eJLTV is a hybrid troop-carrying vehicle.

From the thundering chariots of antiquity to the high-tech marvels of today, armored vehicles have played a pivotal role in warfare and security throughout history. These steel behemoths shield their occupants and weaponry, transforming the battlefield landscape and shaping the course of conflicts. This in-depth exploration delves into the fascinating world of armored vehicles, unveiling their diverse types, groundbreaking innovations, and the constant evolution driven by tactical needs and technological advancements.

A Spectrum of Steel Steeds: Unveiling the Armored Vehicle Family

The vast world of armored vehicles encompasses a diverse range of machines, each meticulously designed for specific roles:

  • Main Battle Tanks (MBTs): The undisputed kings of the battlefield, MBTs combine heavy firepower, superior armor protection, and exceptional mobility. Imagine heavily armored behemoths bristling with cannons, machine guns, and advanced fire control systems, capable of dominating the battlefield with overwhelming firepower.

  • Infantry Fighting Vehicles (IFVs): These versatile workhorses provide crucial support to infantry troops. Imagine a balance between troop transport and firepower. IFVs transport infantry to the battlefield, offering protection while allowing them to dismount and engage in combat. Additionally, they possess firepower to suppress enemy positions and provide close combat support.

  • Armored Personnel Carriers (APCs): The infantry's lifeline on the battlefield, APCs prioritize troop transport and protection over heavy weaponry. Imagine heavily armored troop carriers designed to deliver soldiers safely to the heart of the action. While they possess some defensive weaponry, their primary focus is shielding infantry from enemy fire.

  • Armored Reconnaissance Vehicles (ARVs): The scouts of the armored force, ARVs venture deep behind enemy lines to gather crucial intelligence. Imagine agile, lightly armored vehicles equipped with advanced sensors and surveillance systems. Their focus lies on stealthy reconnaissance, gathering information without engaging in heavy combat.

  • Mine-Resistant Ambush Protected Vehicles (MRAPs): These heavily armored behemoths are designed to withstand the devastating effects of roadside bombs and improvised explosive devices (IEDs). Imagine heavily fortified vehicles with V-shaped hulls that deflect the blast of explosions, protecting occupants from the growing threat of IEDs in modern warfare.

  • Wheeled Armored Vehicles (WAVs): Offering a balance between speed, maneuverability, and protection, WAVs are often used for patrol duties, urban warfare, and internal security operations. Imagine lighter, faster vehicles with good off-road capabilities, ideal for navigating complex urban environments or patrolling vast areas.

Beyond the Armor: Delving into Design and Technology

Modern armored vehicles are marvels of engineering, incorporating cutting-edge technologies to enhance protection, firepower, and operational capabilities:

  • Composite Armor: Gone are the days of monolithic steel plates. Modern armored vehicles utilize composite armor, a layered combination of materials like steel, ceramics, and composites. This offers superior protection against ballistic threats while reducing overall vehicle weight.

  • Active Protection Systems (APS): These defensive marvels are a game-changer on the battlefield. Imagine sophisticated systems that detect incoming missiles and rockets, automatically deploying countermeasures to neutralize the threat before it reaches the vehicle.

  • C4ISR Systems (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance): Modern warfare is an information war. C4ISR systems integrate various technologies to provide battlefield awareness, real-time data on enemy positions, and secure communication channels, enhancing tactical decision-making and battlefield dominance.

  • Unmanned Ground Vehicles (UGVs): The future of warfare is robotic. Imagine unmanned armored vehicles controlled remotely, capable of performing reconnaissance, logistics support, and even engaging in combat, minimizing risk to human lives.

  • Electric and Hybrid Propulsion Systems: Sustainability is entering the battlefield. Armored vehicles powered by electric or hybrid engines are being explored to reduce reliance on fossil fuels, offering environmental benefits and potentially quieter operation for tactical advantages.

The Human Element: The Crew Behind the Steel

The success of armored vehicles hinges not just on the machines themselves but also on the dedicated crews who operate them:

  • Tank Crews: These highly trained individuals operate the complex systems of a tank, coordinating firepower, maneuverability, and communication to achieve battlefield objectives.

  • Mechanized Infantry: These soldiers dismount from IFVs and APCs to engage in close-quarters combat, forming a vital link between armored vehicles and infantry tactics.

  • Armored Reconnaissance Specialists: Skilled in operating ARVs and interpreting gathered intelligence, these soldiers provide invaluable battlefield awareness to commanders.

  • Vehicle Maintenance Crews: These unsung heroes keep the armored force operational. They perform maintenance, repairs, and ensure the vehicles are combat-ready at all times.

Armored Vehicle Market to Signify Strong Growth by 2030

133.4k
2024-04-22 01:55:40

The global market for armored vehicles was valued at USD 19.5 billion in 2022 and is expected to experience substantial growth, reaching USD 33.9 billion by 2030 with a compound annual growth rate (CAGR) of 6.2% during the forecast period.

Armored vehicles are combat vehicles equipped with protective armor that combines offensive and defensive capabilities with operational mobility. The expansion of the market is being driven by advancements in military vehicle technology, including artillery, automotive, electronics, and metallurgy. This has led to the introduction of next-generation vehicles featuring reactive armor technology, programmable ammunition, sophisticated autoloaders, and other advanced features.

Informational Source:

https://www.fortunebusinessinsights.com/industry-reports/armored-vehicle-market-101817

Key Companies Covered in Armored Vehicle Market are:

  • BAE Systems (U.K.)
  • General Dynamics Corporation (U.S.)
  • Rheinmetall AG (Germany)
  • Krauss-Maffei Wegmann GmbH (Germany)
  • Denel SOC ltd (South Africa)
  • IVECO DEFENCE VEHICLES (Italy)
  • NORINCOGROUP.com Inc. (China)
  • Oshkosh Defense, LLC An Oshkosh Corporation Company (U.S.)
  • Otokar, a KOC Group Company (Turkey)
  • Textron Systems (U.S.)

Commercial and technological advancements have played a significant role in the military vehicle and allied equipment sector. These advancements have led to the adoption of quick acquisition policies and the development of cutting-edge systems enhanced by artificial intelligence, advanced sensors, and virtual and synthetic elements. While research and development funding has increased, the focus of the military vehicle community remains on durability, lethality, agility, connectivity, autonomy, and modularity. The demand for light-protected mobility is increasing, but there is also a growing investment in lighter, more affordable, and highly accurate active protection systems for main battle tanks (MBTs), which is driving market growth.


Hybrid electric drive systems offer several benefits, including improved silent mobility, reduced noise, and enhanced stealth capabilities. These systems also have the potential to reduce the armed forces' reliance on fossil fuels and bring about technological and operational improvements. In January 2022, the University of Wisconsin received a contract from the U.S. Army to study the integration of hybrid powertrains into the fleet. Additionally, the U.S. Army's electric Light Reconnaissance Vehicle (eLRV) is likely to be equipped with a hybrid system before transitioning to full electrification. Furthermore, Oshkosh Defense unveiled its electric military vehicle, the eJLTV, in January 2022. The eJLTV is a hybrid troop-carrying vehicle.

From the thundering chariots of antiquity to the high-tech marvels of today, armored vehicles have played a pivotal role in warfare and security throughout history. These steel behemoths shield their occupants and weaponry, transforming the battlefield landscape and shaping the course of conflicts. This in-depth exploration delves into the fascinating world of armored vehicles, unveiling their diverse types, groundbreaking innovations, and the constant evolution driven by tactical needs and technological advancements.

A Spectrum of Steel Steeds: Unveiling the Armored Vehicle Family

The vast world of armored vehicles encompasses a diverse range of machines, each meticulously designed for specific roles:

  • Main Battle Tanks (MBTs): The undisputed kings of the battlefield, MBTs combine heavy firepower, superior armor protection, and exceptional mobility. Imagine heavily armored behemoths bristling with cannons, machine guns, and advanced fire control systems, capable of dominating the battlefield with overwhelming firepower.

  • Infantry Fighting Vehicles (IFVs): These versatile workhorses provide crucial support to infantry troops. Imagine a balance between troop transport and firepower. IFVs transport infantry to the battlefield, offering protection while allowing them to dismount and engage in combat. Additionally, they possess firepower to suppress enemy positions and provide close combat support.

  • Armored Personnel Carriers (APCs): The infantry's lifeline on the battlefield, APCs prioritize troop transport and protection over heavy weaponry. Imagine heavily armored troop carriers designed to deliver soldiers safely to the heart of the action. While they possess some defensive weaponry, their primary focus is shielding infantry from enemy fire.

  • Armored Reconnaissance Vehicles (ARVs): The scouts of the armored force, ARVs venture deep behind enemy lines to gather crucial intelligence. Imagine agile, lightly armored vehicles equipped with advanced sensors and surveillance systems. Their focus lies on stealthy reconnaissance, gathering information without engaging in heavy combat.

  • Mine-Resistant Ambush Protected Vehicles (MRAPs): These heavily armored behemoths are designed to withstand the devastating effects of roadside bombs and improvised explosive devices (IEDs). Imagine heavily fortified vehicles with V-shaped hulls that deflect the blast of explosions, protecting occupants from the growing threat of IEDs in modern warfare.

  • Wheeled Armored Vehicles (WAVs): Offering a balance between speed, maneuverability, and protection, WAVs are often used for patrol duties, urban warfare, and internal security operations. Imagine lighter, faster vehicles with good off-road capabilities, ideal for navigating complex urban environments or patrolling vast areas.

Beyond the Armor: Delving into Design and Technology

Modern armored vehicles are marvels of engineering, incorporating cutting-edge technologies to enhance protection, firepower, and operational capabilities:

  • Composite Armor: Gone are the days of monolithic steel plates. Modern armored vehicles utilize composite armor, a layered combination of materials like steel, ceramics, and composites. This offers superior protection against ballistic threats while reducing overall vehicle weight.

  • Active Protection Systems (APS): These defensive marvels are a game-changer on the battlefield. Imagine sophisticated systems that detect incoming missiles and rockets, automatically deploying countermeasures to neutralize the threat before it reaches the vehicle.

  • C4ISR Systems (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance): Modern warfare is an information war. C4ISR systems integrate various technologies to provide battlefield awareness, real-time data on enemy positions, and secure communication channels, enhancing tactical decision-making and battlefield dominance.

  • Unmanned Ground Vehicles (UGVs): The future of warfare is robotic. Imagine unmanned armored vehicles controlled remotely, capable of performing reconnaissance, logistics support, and even engaging in combat, minimizing risk to human lives.

  • Electric and Hybrid Propulsion Systems: Sustainability is entering the battlefield. Armored vehicles powered by electric or hybrid engines are being explored to reduce reliance on fossil fuels, offering environmental benefits and potentially quieter operation for tactical advantages.

The Human Element: The Crew Behind the Steel

The success of armored vehicles hinges not just on the machines themselves but also on the dedicated crews who operate them:

  • Tank Crews: These highly trained individuals operate the complex systems of a tank, coordinating firepower, maneuverability, and communication to achieve battlefield objectives.

  • Mechanized Infantry: These soldiers dismount from IFVs and APCs to engage in close-quarters combat, forming a vital link between armored vehicles and infantry tactics.

  • Armored Reconnaissance Specialists: Skilled in operating ARVs and interpreting gathered intelligence, these soldiers provide invaluable battlefield awareness to commanders.

  • Vehicle Maintenance Crews: These unsung heroes keep the armored force operational. They perform maintenance, repairs, and ensure the vehicles are combat-ready at all times.

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