The Global Military Armored Vehicles and MRO Market 2016-2026
Global military armored vehicles and MRO market is expected to value US$22.5 Billion in 2016, and will grow at a CAGR of 3.71%, to value US$32.4 Billion by 2026. The cumulative market for global expenditure on military armored vehicles and MRO will reach US$307.3 Billion over the forecast period. The demand for armored vehicles is expected to be driven by cross border disputes and modernization initiatives undertaken by various large defense spenders across the world.
In terms of segments, the military armored vehicles market is split into six segments: MBTs, IFVs, APCs, MRAPs, LMVs, and tactical trucks. During the forecast period, IFVs are expected to account for the largest share of spending, accounting for 32.2% of the overall global market. MBTs are projected to be the second largest segment over the forecast period, and are expected to account for a total share of 25.8% of the global market. Driven by large scale procurement programs in countries such as India, China, and Pakistan, the Asia Pacific region is expected to be the dominant market for MBTs during the next decade. Europe and North America are projected to account for the second and third largest market in this segment.
The military armored vehicles and MRO market is expected to be led by Asia Pacific with a share of 26.8% over the forecast period, closely followed by North America with 24.8%, and Europe with 23.9%. The Middle Eastern market for military armored vehicles is expected to account for 15.8%, followed by the African and the Latin American markets with a collective share of 8.7%.
Modern armored vehicles and related MRO must incorporate technological advancements in the fields of survivability, connectivity, mobility, maneuverability, lethality, and sustainability. These capability enhancements are made possible by the advancements in processor technology, and are supplemented by the concepts of interoperability and network centric capabilities.
The report “The Global Military Armored Vehicles and MRO Market 2016-2026” offers detailed analysis of the global armored vehicles and MRO market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for armored vehicles and MRO.
In particular, it provides an in-depth analysis of the following: • Overview: Snapshot of the armored vehicles and MRO market during 2016–2026, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments. - Market Dynamics: Insights into the technological developments in the armored vehicles and MRO market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants. - Segment Analysis: Insights into the armored vehicles and MRO market from a segmental perspective and a detailed analysis of factors influencing the market for each sector. - Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region. - Regional Analysis: Insights into the armored vehicles and MRO market from a regional perspective and a detailed analysis of factors influencing the market for each region. - Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the Armored vehicles and MRO segments expected to be in demand in each region - Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period. - Competitive Landscape Analysis: Analysis of competitive landscape of the global Armored vehicles and MRO industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: General Dynamics Land Systems, Denel Land Systems (DLD), Oshkosh Defense, RheinmetallLandsysteme GmbH, Thales, China North Industries Corporation (NORINCO), Uralvagonzavod, Krauss-MaffeiWegmann, Iveco S.p.A., Renault Truck Defense, Hyundai Rotem, Navistar Defense, OtokarOtomotivveSavunmaSanayi A.S., OtoMelara, Panhard, BAE Hagglunds.
- The global military armored vehicles and MRO market is expected to value US$22.5 billion in 2016, and will grow at a CAGR of 3.71%, to value US$32.4 billion by 2026. - The market is split into six segments: MBTs, IFVs, APCs, MRAPs, LMVs, and tactical trucks. IFVs will lead the market, with a share of 32.2%, followed by the MBT segment, accounting for a share of 25.8%. APC is projected to be the third largest segment with a share of 17.4%, followed by LMVs with a share of 11.1%. Tactical trucks and MRAPs are projected to capture 8.3% and 5.2% of the global market during 2016-2026. - The Asia Pacific region is projected to lead the global armored vehicles and MRO market during 2016-2026, with a share of 26.8% of the global market. North America and Europe are also expected to account for a significant portion of the total military armoured vehicles and MRO market during the forecast period, with shares of 24.8% and 23.9% respectively
The Global Military Armoured Vehicles and MRO Market2016-2026 report 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. In particular, it provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2016-2026, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world. - Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of armored vehicle segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants. - Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand. - Major programs: details of the key programs in each segment, which are expected to be executed during 2016-2026. Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military armored vehicles and MRO market over the next ten years. - Gain in-depth understanding about the underlying factors driving demand for different armored vehicles and MRO market segments in the top spending countries across the world and identify the opportunities offered by each of them. - Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others. - Identify the major channels that are driving the global military armored vehicles and MRO market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion. - Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the military armored vehicles and MRO market. - Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military simulator providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.
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