Global Armored Vehicles Automatic Fire Extinguishing Systems (AFES) Market to Reach $91.4 Million by 2027
Amid the COVID-19 crisis, the global market for Armored Vehicles Automatic Fire Extinguishing Systems (AFES) estimated at US$70.5 Million in the year 2020, is projected to reach a revised size of US$91.4 Million by 2027, growing at aCAGR of 3.8% over the period 2020-2027. AFES for APCs, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$52.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the AFES for Tanks & Other Fighting Vehicles segment is readjusted to a revised 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $20.8 Million, While China is Forecast to Grow at 3.6% CAGR
The Armored Vehicles Automatic Fire Extinguishing Systems (AFES) market in the U.S. is estimated at US$20.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.3 Million by the year 2027 trailing a CAGR of 3.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.We bring years of research experience to this 8th edition of our report. The 110-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Bulldog Direct Protective Systems, Inc.
- Fire Protection Technologies
- General Dynamics Corporation
- Halma PLC
- Marotta Controls, Inc.
- N2 Towers Inc.
- Spectrex, Inc.
- United Technologies Corporation (UTC)