Armored vehicles market, is estimated at $48,745 million in 2024 and is projected to reach $81,675 million in 2035, growing at a CAGR of 4.8% during the forecast period (2025–2035). One of the crucial factors that have been boosting market growth is the growing military activities between countries for strengthening the security of the nations. Such military collaboration has increased in the past few years as the tensions between the countries have risen. It has also increased the sales of armored vehicles by exchanging new technology and weaponry between the countries. For instance, in January 2022, Australia purchased 120 tanks and other armored vehicles from the US is $2.58 billion. This deal includes 17 bridge landing vehicles, 29 assault clearing vehicles used against minefields, and six repair and evacuation tanks. As per the report the first batch of such weapons will be delivered in 2024 and put into service from 2025.
Browse the full report description of “Armored Vehicles Market Size, Share & Trends Analysis Report by Vehicle Type (Armored Personnel Carrier, Infantry Fighting Vehicle, Mine-resistant Ambush Protected, Main Battle Tank, and Others), by Propulsion Type (IC Engine and Electric), by Drive Type (Wheel, and Track), and by Application (Defense, and Commercial), Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/armored-vehicles-market
Before this announcement, Australia and the US, along with the UK announced the new trilateral defense partnership, which forced Canberra to give up on a $66 billion contract with France to manufacture 12 state-of-the-art attack submarines powered conventionally, as the alliance promised to enhance Australia’s fleet with nuclear-powered submarines in September 2021. Moreover, in December 2021, Australia signed a new agreement with Japan to strengthen the defense and security collaboration between the two countries. The agreement will expand interoperability and collaboration between the Australian Defense Force and the Japanese Self-Defense Forces by abolishing limitations on the movement of supplies and weapons for cooperative training and disaster relief missions.
Several major players lead the armored vehicles market, including BAE Systems plc, General Dynamics Corp., KNDS N.V., Oshkosh Defense, LLC (Oshkosh Corp.), and Rheinmetall AG, among others. These companies are at the forefront of innovation, continually developing new technologies to meet the industry's evolving needs. For instance, BAE Systems plc. Offers Armored Multi-Purpose Vehicle (AMPV) which is an American-made family of next-generation vehicles essential to the future of the U.S. Army. The AMPV FOV consists of five, multi-mission variants, including the General Purpose, Mortar Carrier, Mission Command, Medical Treatment, and Medical Evacuation vehicles.
Market Coverage
• The market numbers available for – 2024-2035
• Base year- 2024
• Forecast period- 2025-2035
• Segment Covered-
o By Vehicle Type
o By Propulsion Type
o By Drive Type
o Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape - BAE Systems plc, General Dynamics Corp., KNDS N.V., Oshkosh Defense, LLC (Oshkosh Corp.), and Rheinmetall AG, among others.
Key questions addressed by the report.
Global Armored Vehicles Market Report Segment
By Vehicle Type
By Propulsion Type
By Drive Type
By Application
Global Armored Vehicles Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia and New Zealand
• ASEAN Economies
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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