Armored Vehicle Market Size & Share, by Platform (Combat Vehicles, Combat Support Vehicles); Movement (Wheeled, Tracked); Role (Attack, Reconnaissance, Support); End-user (Military, Civilian); Armor (Heavy, Medium, Light Armor Vehicle) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4586
  • Published Date: Feb 20, 2023
  • Report Format: PDF, PPT

Companies Dominating the Armored Vehicle Landscape

    • General Dynamics Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • BAE Systems plc
    • Oshkosh Defense, LLC
    • Rheinmetall Group
    • Krauss-Maffei Wegmann GmbH & Co. KG
    • Hyundai Rotem Co., Ltd.
    • Nexter group KNDS
    • Craft Machine Inc.
    • Lenco Industries, Inc.
    • Lockheed Martin Corporation

Browse Key Market Insights with Data Illustration:


In The News

  • General Dynamics Corporation’s modification contract was recently won by Land Systems, a division of General Dynamics Corporation, to procure replacement parts for the Light Armored Vehicle class of vehicles, as well as the Abrams Main Battle Tank. The USD 414.7 million contract is anticipated to be finished on September 28, 2029.

  • BAE Systems was offered a contract of building multiple ACV-30 production-ready test vehicles (PRTVs) by the U.S. Marine Corps. To constitute these PRTVs, Marine Corps awarded USD 88 million. AVC-30 is designed in a way to increase crew protection and to reduce weight.

Author Credits:  Harshita Srivastava, Saima Khursheed

  • Report ID: 4586
  • Published Date: Feb 20, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising spending on global military across the globe is the major factor driving the market growth.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2033.

High costs of acquisition and maintenance are estimated to be the growth-hindering factors for market expansion.

The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are BAE Systems plc, Oshkosh Defense, LLC, Rheinmetall Group, Krauss-Maffei Wegmann GmbH & Co. KG, Hyundai Rotem Co., Ltd., Nexter group KNDS, Craft Machine Inc., Lenco Industries, Inc., Lockheed Martin Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by platform, movement, role, end-user, armor, and by region.

The military segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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