(MENAFN- America News Hour) “ armored vehicle
market : Global Demand Analysis & Opportunity Outlook 2033”
delivers a detailed competitor's analysis and a detailed overview of the global armored vehicles market in terms of market segmentation by platform, movement, role, armor, end-user, and by region.
Rising Threat of Terrorism Worldwide to Drive Growth of Global Armored vehicles Market
The global armored vehicles market is estimated to grow majorly on account of the fact that terrorism endangers the security and sovereignty of all nations. With globalization and increasing wealth, it becomes imperative for nations to protect the well-being of its citizens. The employment of armored vehicles is certain to expand as terrorist groups' daring grows. In 2019, it is estimated that approximately 20,000 people perished as a result of terrorist-related operations.
Armored Vehicle Market Statistics –
The market size is projected to record a valuation of over USD 30 Billion by 2033 The Armored Vehicle Market is slated to observe 6% growth rate through 2023-2033
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The market research report also includes other growth factors and challenges that are associated with the growth of the global armored vehicles market. Some of the major growth indicators are:
Growth Drivers:
Technological Advances and the Emergence of Unmanned Vehicles. Rise in the Cases of Communal Riots and Organized Crime.
Challenges:
High acquisition and maintenance costs, as well as manufacturing and delivery delays, are expected to hinder the expansion of the worldwide armored vehicles market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester's analysis indicates a robust growth for the market during the forecast period
The market research report on global armored vehicles encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
Major players include in the Global Armored Vehicle Market:
Oshkosh Defense, LLC,
BAE Systems plc, General Dynamics Corporation,
Rheinmetall AG,
Uralvagonzavod,
Krauss-Maffei Wegmann GmbH & Co. KG.,
Hyundai Rotem, Iveco Defence Vehicles, Nexter Systems, China North Industries Corporation (NORINCO)
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By end-user, the global armored vehicles market is segmented into military and civilian. The military category is expected to have the greatest market share by 2033, owing to rising geopolitical challenges, terrorist attacks, and military spending. This can be linked to an increase in the global defense budget. In 2022, for example, global military spending will have surpassed $2,000 billion USD.
By region, the North America armored vehicles market is to generate the highest revenue by the end of 2033. This can be owed to the fact that the United States spends the most on defense and military spending in the world. Furthermore, the United States Department of Defense has announced a defense budget of USD 773 billion for 2023, including USD 12.6 billion dedicated to modernizing Army and Marine Corps fighting vehicles.
This report also provides the existing competitive scenario of some of the key players of the global armored vehicles market which includes company profiling of Oshkosh Defense, LLC, BAE Systems plc, General Dynamics Corporation, Rheinmetall AG, Uralvagonzavod, Krauss-Maffei Wegmann GmbH & Co. KG., Hyundai Rotem, Iveco Defence Vehicles, Nexter Systems, China North Industries Corporation (NORINCO) and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global armored vehicles market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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