Summary

The Armored Vehicles Market is valued at USD 51.6 billion in 2024 and is projected to reach USD 60.7 billion by 2029, at a CAGR of 3.3% from 2024 to 2029. Nations facing territorial disputes or border tensions, such as those in regions like South Asia, Eastern Europe, and the Middle East, are compelled to bolster their defense capabilities, including the acquisition of armored vehicles. These conflicts heighten the demand for advanced military equipment to ensure territorial integrity and protect national borders. As a result, governments allocate substantial budgets towards the procurement of armored vehicles equipped with cutting-edge technology, enhancing their combat capabilities and readiness to respond to potential threats. Additionally, the need to maintain peace and security amid border disputes fosters continuous investment in armored vehicles, sustaining market growth over the forecast period.

"Based on type, the conventional armored vehicles segment is estimated to have the largest market share in 2024."
Conventional armored vehicles are poised to maintain a dominant market share over electric counterparts for several reasons. Firstly, conventional armored vehicles have a longer history of development and deployment, instilling trust and familiarity among military forces worldwide. Additionally, the robust infrastructure supporting conventional vehicles, including maintenance facilities, spare parts availability, and operational expertise, gives them a competitive edge over emerging electric options. Furthermore, the current limitations of electric technology, such as battery range, charging infrastructure, and cost, hinder widespread adoption in the armored vehicle sector. While electric armored vehicles offer promising environmental benefits and technological advancements, the conventional segment's established presence and performance continue to overshadow their market share in the foreseeable future..
"Based on platform, the combat vehicle segment is estimated to have the largest market share in 2024."
Combat vehicles are expected to maintain the highest market share in the armored vehicle sector due to their pivotal role in modern warfare scenarios. These vehicles are designed and equipped to engage in direct combat, offering superior firepower, protection, and mobility on the battlefield. As military conflicts evolve, the demand for combat vehicles remains robust, driven by the need to counter emerging threats, conduct offensive operations, and ensure battlefield dominance. Additionally, ongoing military modernization programs worldwide prioritize the procurement of advanced combat vehicles equipped with cutting-edge technologies and capabilities. With their critical role in national defense and security strategies, combat vehicles are anticipated to continue leading the armored vehicle market in terms of market share.
"Based on regions, the Asia Pacific region is estimated to have the largest market share in 2024."
The Asia Pacific region is witnessing robust growth in the Armored Vehicles market, driven by the technological advancement. The Asia-Pacific region is poised to maintain the highest market share in the armored vehicle industry, driven by a combination of factors. Geopolitical tensions, territorial disputes, and rising military expenditures across several countries contribute to the heightened demand for armored vehicles in the region. Additionally, rapid economic growth and urbanization fuel the need for enhanced defense capabilities, further boosting the procurement of armored vehicles. Key players in the region, including China, India, and South Korea, invest significantly in military modernization programs, driving the market's growth. Moreover, ongoing conflicts and security challenges in various parts of Asia-Pacific underscore the importance of armored vehicles in maintaining regional stability and security. Collectively, these factors position the Asia-Pacific region as the dominant market for armored vehicles globally.


The break-up of the profile of primary participants in the Armored Vehicles Market:

• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 25%, Europe – 15%, Asia Pacific – 45%, Middle East – 10% Rest of the World (RoW) – 5%

Major companies profiled in the report include as Rheinmetall AG (Germany), General Dynamics Corporation (US), Oshkosh Corporation (US), BAE Systems (UK), and Hanwha Defense (South Korea) among others.

Research Coverage:
This market study covers the Armored Vehicles market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Reasons to buy this report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Armored Vehicles market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The armored vehicle market experiences growth and evolution driven by various factors. Rising geopolitical tensions and terrorism prompt nations to enhance defense capabilities, fueling demand for armored vehicles. Global military modernization programs, aiming to replace aging fleets with advanced technology-equipped vehicles, boost market demand. Innovations in armor materials, vehicle design, and weapon systems attract investments and propel market growth. The report provides insights on the following pointers:

• Market Drivers (Improving ISR and target acquisition capabilities of defense forces , Increasing demand for armored vehicles to tackle cross-border conflicts, Rising incidence of asymmetric warfare across the globe and Increased Defense Spending), restraints (Occurrence of mechanical and electrical failure in armored vehicles, Survivability issues), Opportunities (Rising technology integration and upgrades in military vehicles, Rising adoption of lifecycle optimization strategies for sustainment, Military modernization plans across the globe) challenges (Hardware and software malfunctions , High costs of main battle tanks) there are several factors that could contribute to an increase in the armoredvehicles market.

• Market Penetration: Comprehensive information on Armored Vehicles offered by the top players in the market

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Armored Vehicles market

• Market Development: Comprehensive information about lucrative markets – the report analyses the Armored Vehicles market across varied regions.

• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Armored Vehicles market

• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the Armored Vehicles market

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Table of Contents

1 INTRODUCTION 43
1.1 STUDY OBJECTIVES 43
1.2 MARKET DEFINITION 44
1.2.1 INCLUSIONS AND EXCLUSIONS 44
TABLE 1 INCLUSIONS AND EXCLUSIONS 44
1.3 STUDY SCOPE 45
1.3.1 MARKETS COVERED 45
FIGURE 1 ARMORED VEHICLES MARKET SEGMENTATION 45
1.3.2 REGIONS COVERED 46
1.3.3 YEARS CONSIDERED 46
1.4 CURRENCY CONSIDERED 47
TABLE 2 USD EXCHANGE RATES 47
1.5 STAKEHOLDERS 47
1.6 SUMMARY OF CHANGES 48
1.6.1 RECESSION IMPACT 48
2 RESEARCH METHODOLOGY 49
2.1 RESEARCH DATA 49
FIGURE 2 REPORT PROCESS FLOW 49
FIGURE 3 RESEARCH DESIGN 50
2.1.1 SECONDARY DATA 50
2.1.1.1 Key data from secondary sources 51
2.1.2 PRIMARY DATA 52
2.1.2.1 Key data from primary sources 52
2.1.2.2 Breakdown of primary interviews 53
2.2 FACTOR ANALYSIS 53
2.2.1 INTRODUCTION 53
2.2.2 DEMAND-SIDE INDICATORS 53
2.2.3 SUPPLY-SIDE INDICATORS 53
2.2.3.1 Impact of Russia-Ukraine war 54
2.2.3.1.1 Impact of Russia-Ukraine war on macro factors of armored vehicles market 54
FIGURE 4 IMPACT OF RUSSIA-UKRAINE WAR ON MACRO FACTORS OF ARMORED VEHICLES MARKET 54
2.2.3.1.2 Impact of Russia-Ukraine war on micro factors of armored vehicles market 55
TABLE 3 IMPACT OF RUSSIA-UKRAINE WAR ON MICRO FACTORS OF ARMORED VEHICLES MARKET 55
FIGURE 5 IMPACT OF RUSSIA-UKRAINE WAR ON MICRO FACTORS OF ARMORED VEHICLES MARKET 56
2.2.4 RECESSION IMPACT ANALYSIS 56
2.3 MARKET SIZE ESTIMATION 57
2.3.1 BOTTOM-UP APPROACH 57
2.3.1.1 Market size estimation methodology (demand-side) 57
FIGURE 6 BOTTOM-UP APPROACH 58
2.3.2 TOP-DOWN APPROACH 58
FIGURE 7 TOP-DOWN APPROACH 58
2.4 DATA TRIANGULATION 59
FIGURE 8 DATA TRIANGULATION 59
2.5 RESEARCH ASSUMPTIONS 60
2.6 RESEARCH LIMITATIONS 60
2.7 RISK ASSESSMENT 61
3 EXECUTIVE SUMMARY 62
FIGURE 9 COMBAT VEHICLES TO BE LARGEST SEGMENT DURING FORECAST PERIOD 62
FIGURE 10 WHEELED SEGMENT TO HOLD HIGHER MARKET SHARE DURING FORECAST PERIOD 63
FIGURE 11 UNMANNED TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 63
FIGURE 12 ELECTRIC ARMORED VEHICLES TO EXHIBIT FASTEST GROWTH DURING FORECAST PERIOD 64
FIGURE 13 ASIA PACIFIC TO BE LARGEST MARKET FOR ARMORED VEHICLES DURING FORECAST PERIOD 65
4 PREMIUM INSIGHTS 66
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ARMORED VEHICLES MARKET 66
FIGURE 14 NEED FOR BORDER SECURITY AND MARITIME PATROLLING TO DRIVE GROWTH 66
4.2 ARMORED VEHICLES MARKET, BY REGION 67
FIGURE 15 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD 67
4.3 ARMORED VEHICLES MARKET, BY PLATFORM 67
FIGURE 16 COMBAT VEHICLES TO SECURE LEADING MARKET POSITION DURING FORECAST PERIOD 67
4.4 ARMORED VEHICLES MARKET, BY MOBILITY 68
FIGURE 17 WHEELED SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 68
4.5 ARMORED VEHICLES MARKET, BY MODE OF OPERATION 68
FIGURE 18 MANNED SEGMENT TO ACQUIRE MAXIMUM MARKET SHARE IN 2029 68
4.6 ARMORED VEHICLES MARKET, BY TYPE 69
FIGURE 19 CONVENTIONAL ARMORED VEHICLES TO SURPASS ELECTRIC ARMORED VEHICLES DURING FORECAST PERIOD 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 70
FIGURE 20 ARMORED VEHICLES MARKET DYNAMICS 70
5.2.1 DRIVERS 71
5.2.1.1 Need for improved intelligence, surveillance, and reconnaissance (ISR) and target acquisition capabilities by defense forces 71
5.2.1.2 Growing demand for armored vehicles to tackle cross-border conflicts 71
TABLE 4 NEW DELIVERIES OF COMBAT SUPPORT VEHICLES, BY COUNTRY, 2021–2023 (UNITS) 72
5.2.1.3 Rising incidences of asymmetric warfare 72
5.2.1.4 Increased global defense spending 72
FIGURE 21 TOP 10 DEFENSE SPENDERS, 2020–2030 73
5.2.2 RESTRAINTS 74
5.2.2.1 Susceptibility to mechanical and electrical failures 74
5.2.2.2 Survivability risks for personnel onboard armored vehicles 74
5.2.3 OPPORTUNITIES 74
5.2.3.1 Rising technology integration and upgrades in military vehicles 74
5.2.3.2 Adoption of lifecycle optimization strategies for sustainment 74
5.2.3.3 Global military modernization plans 75
5.2.3.4 Increasing procurement of unmanned systems by defense forces 75
5.2.3.5 Development of modular and scalable armored vehicles 75
5.2.4 CHALLENGES 75
5.2.4.1 Hardware and software malfunctions 75
5.2.4.2 High costs of main battle tanks 76
5.3 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 76
FIGURE 22 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 76
5.4 ECOSYSTEM ANALYSIS 76
5.4.1 PROMINENT COMPANIES 76
5.4.2 PRIVATE AND SMALL ENTERPRISES 77
5.4.3 END USERS 77
FIGURE 23 ECOSYSTEM ANALYSIS 77
TABLE 5 ROLE OF COMPANIES IN ECOSYSTEM 78
5.5 VOLUME DATA 79
TABLE 6 ACTIVE FLEET VOLUME OF MAIN BATTLE TANKS, BY COUNTRY, 2020–2030 (UNITS) 79
TABLE 7 ACTIVE FLEET VOLUME OF COMBAT SUPPORT VEHICLES, BY COUNTRY, 2020–2030 (UNITS) 80
TABLE 8 ACTIVE FLEET VOLUME OF COMBAT VEHICLES, BY COUNTRY, 2020–2030 (UNITS) 81
5.6 PRICING ANALYSIS 81
TABLE 9 INDICATIVE PRICING ANALYSIS OF ARMORED VEHICLES, BY PLATFORM, 2023 81
FIGURE 24 INDICATIVE PRICING ANALYSIS OF ARMORED VEHICLES, BY PLATFORM, 2023 82
TABLE 10 AVERAGE SELLING PRICE RANGE OF MAIN BATTLE TANKS, 2023 82
TABLE 11 AVERAGE SELLING PRICE RANGE OF INFANTRY FIGHTING VEHICLES, 2023 83
TABLE 12 AVERAGE SELLING PRICE RANGE OF ARMORED PERSONNEL CARRIERS, 2023 84
TABLE 13 AVERAGE SELLING PRICE RANGE OF MINE-RESISTANT AMBUSH- PROTECTED VEHICLES, 2023 84
TABLE 14 AVERAGE SELLING PRICE RANGE OF LIGHT-PROTECTED VEHICLES, 2023 85
TABLE 15 AVERAGE SELLING PRICE RANGE OF SELF-PROPELLED HOWITZERS, 2023 85
5.7 VALUE CHAIN ANALYSIS 86
FIGURE 25 VALUE CHAIN ANALYSIS 86
5.8 TECHNOLOGY ROADMAP 87
FIGURE 26 EVOLUTION OF KEY TECHNOLOGIES 87
FIGURE 27 EMERGING TRENDS RELATED TO ARMORED VEHICLES 88
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF ARMORED VEHICLES, BY MODE OF OPERATION 88
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF ARMORED VEHICLES, BY MODE OF OPERATION (%) 89
5.9.2 BUYING CRITERIA 89
FIGURE 29 KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM 89
TABLE 17 KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM 89
5.10 USE CASE ANALYSIS 90
5.10.1 VEHICLE INTEGRATION FOR C4ISR/EW INTEROPERABILITY (VICTORY) INITIATIVE 90
5.10.2 ELECTRIC FORCE FIELD FOR ARMORED VEHICLES 91
5.10.3 SEE-THROUGH ARMOR 91
5.10.4 OSHKOSH PROPULSION HYBRID DIESEL-ELECTRIC SYSTEM 92
5.10.5 ADAPTIVE CAMOUFLAGE SYSTEM 92
5.11 KEY CONFERENCES AND EVENTS, 2024–2025 93
TABLE 18 KEY CONFERENCES AND EVENTS, 2024–2025 93
5.12 TRADE ANALYSIS 93
5.12.1 EXPORT DATA 93
TABLE 19 EXPORT DATA, BY REGION, 2020–2022 93
FIGURE 30 EXPORT DATA, BY REGION, 2020–2022 94
5.12.2 IMPORT DATA 94
TABLE 20 IMPORT DATA, BY REGION, 2020–2022 94
FIGURE 31 IMPORT DATA, BY REGION, 2020–2022 95
5.13 TECHNOLOGY ANALYSIS 95
5.13.1 KEY TECHNOLOGY 95
5.13.1.1 Design and implementation of solar-powered armored vehicles 95
5.13.1.2 Development of multi-payload unmanned armored vehicles 95
5.13.2 COMPLEMENTARY TECHNOLOGY 95
5.13.2.1 Electro-optical and radar sensor payloads for unmanned armored vehicles 95
5.14 BILL OF MATERIALS 96
FIGURE 32 BILL OF MATERIALS FOR ARMORED VEHICLES 96
FIGURE 33 BILL OF MATERIALS FOR MAIN BATTLE TANKS 97
FIGURE 34 BILL OF MATERIALS FOR ARMORED PERSONNEL CARRIERS 97
FIGURE 35 BILL OF MATERIALS FOR INFANTRY FIGHTING VEHICLES 98
5.15 TOTAL COST OF OWNERSHIP 99
FIGURE 36 TOTAL COST OF OWNERSHIP OF ARMORED VEHICLES 99
FIGURE 37 PERCENTAGE BREAKDOWN OF TOTAL COST OF OWNERSHIP 99
TABLE 21 TOTAL COST OF OWNERSHIP OF MAIN BATTLE TANKS 100
5.16 BUSINESS MODELS 101
FIGURE 38 BUSINESS MODELS OF ARMORED VEHICLES MARKET 101
TABLE 22 BUSINESS MODELS OF ARMORED VEHICLES MARKET 101
5.17 REGULATORY LANDSCAPE 103
TABLE 23 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103
TABLE 24 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103
TABLE 25 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 26 MIDDLE EAST: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 105
TABLE 27 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 105
5.18 INVESTMENT AND FUNDING SCENARIO 106
TABLE 28 VENTURE CAPITAL FOR UNMANNED GROUND VEHICLES, 2021–2023 (USD MILLION) 106
FIGURE 39 VENTURE CAPITAL FOR UNMANNED GROUND VEHICLES 106
6 INDUSTRY TRENDS 107
6.1 INTRODUCTION 107
6.2 TECHNOLOGY TRENDS 107
FIGURE 40 TECHNOLOGY TRENDS 108
6.2.1 ACTIVE PROTECTION SYSTEM 108
6.2.1.1 Soft-kill technology 108
6.2.1.2 Electro-optical jammer 109
6.2.1.3 Hard-kill technology 109
6.2.2 REACTIVE ARMOR TECHNOLOGY 109
6.2.3 PROGRAMMABLE AMMUNITION 109
6.2.4 LINKLESS FEED SYSTEM 109
6.2.5 AMMUNITION FEED CHUTE 109
6.2.6 SENSOR FUSION TECHNOLOGY 110
6.3 IMPACT OF MEGATRENDS 110
6.3.1 IMPROVED AMMUNITION CARRYING CAPABILITY 110
6.3.2 INNOVATIONS IN MICRO-ELECTROMECHANICAL SYSTEM AND NANOTECHNOLOGY 110
6.3.3 INTEROPERABLE COMMUNICATION SYSTEM 110
6.3.4 ADVANCED AUTOLOADER 110
6.4 SUPPLY CHAIN ANALYSIS 111
FIGURE 41 SUPPLY CHAIN ANALYSIS 112
6.5 PATENT ANALYSIS 113
FIGURE 42 PATENT ANALYSIS 113
TABLE 29 PATENT ANALYSIS 114
7 ARMORED VEHICLES MARKET, BY PLATFORM 116
7.1 INTRODUCTION 117
FIGURE 43 ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 117
TABLE 30 ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 117
TABLE 31 ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 117
7.2 COMBAT VEHICLES 118
TABLE 32 NEW DELIVERIES OF COMBAT VEHICLES, BY REGION, 2021–2029 (UNITS) 118
7.2.1 MAIN BATTLE TANKS 118
7.2.1.1 Surge in upgrade and procurement programs to drive growth 118
TABLE 33 NEW DELIVERIES OF MAIN BATTLE TANKS, BY REGION, 2021–2029 (UNITS) 119
7.2.2 INFANTRY FIGHTING VEHICLES 119
7.2.2.1 Ongoing developments by prominent defense companies and governments to drive growth 119
7.2.3 ARMORED PERSONNEL CARRIERS 119
7.2.3.1 Significant investments in defense armored vehicles to drive growth 119
7.2.4 ARMORED AMPHIBIOUS VEHICLES 120
7.2.4.1 Innovations in propulsion technology and hull design to drive growth 120
7.2.5 MINE-RESISTANT AMBUSH-PROTECTED VEHICLES 120
7.2.5.1 Need for protection against rocket-propelled grenades and small arms to drive growth 120
7.2.6 LIGHT ARMORED VEHICLES 120
7.2.6.1 Need for rapid response in fluid combat situations to drive growth 120
7.2.7 SELF-PROPELLED HOWITZERS 121
7.2.7.1 Advanced targeting technologies and powerful munitions to drive growth 121
7.2.8 AIR DEFENSE VEHICLES 121
7.2.8.1 Trend toward fully automated air defense systems to drive growth 121
7.2.9 ARMORED MORTAR CARRIERS 121
7.2.9.1 Ability to provide increased firepower and mobility to drive growth 121
7.3 COMBAT SUPPORT VEHICLES 121
TABLE 34 NEW DELIVERIES OF COMBAT SUPPORT VEHICLES, BY REGION, 2021–2029 (UNITS) 122
7.3.1 ARMORED SUPPLY TRUCKS 122
7.3.1.1 Focus on ensuring secure delivery of vital supplies to frontline units to drive growth 122
7.3.1.2 Armored fuel trucks 122
7.3.1.3 Armored ammunition replenishment vehicles 122
7.3.1.4 Armored ambulances 122
7.3.2 ARMORED COMMAND & CONTROL VEHICLES 122
7.3.2.1 Seamless integration with existing military systems to drive growth 122
7.3.3 REPAIR & RECOVERY VEHICLES 123
7.3.3.1 Need for towing or repairing combat vehicles on battlefields to drive growth 123
7.3.4 BRIDGE-LAYING TANKS 123
7.3.4.1 Operational readiness to drive growth 123
7.3.5 MINE CLEARANCE VEHICLES 123
7.3.5.1 High demand for prevention of mine blasts and other battlefield hazards to drive growth 123
7.4 UNMANNED ARMORED GROUND VEHICLES 124
7.4.1 INCREASING DEMAND FOR AUTONOMIC DECISION-MAKING CAPABILITIES IN COMPLEX REMOTE OPERATIONS TO DRIVE GROWTH 124
8 ARMORED VEHICLES MARKET, BY TYPE 125
8.1 INTRODUCTION 126
FIGURE 44 ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 126
TABLE 35 ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 126
TABLE 36 ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 126
8.2 ELECTRIC ARMORED VEHICLES 127
8.2.1 EMPHASIS ON REDUCING DEPENDENCE ON FOSSIL FUELS TO DRIVE GROWTH 127
8.3 CONVENTIONAL ARMORED VEHICLES 127
8.3.1 HIGHER POWER OUTPUT AND PERFORMANCE TO DRIVE GROWTH 127
9 ARMORED VEHICLES MARKET, BY MOBILITY 128
9.1 INTRODUCTION 129
FIGURE 45 ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 129
TABLE 37 ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 129
TABLE 38 ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 129
9.2 WHEELED 130
9.2.1 NEED FOR IMPROVED MOBILITY DURING CRITICAL COMBAT OPERATIONS TO DRIVE GROWTH 130
9.2.2 4X4 130
9.2.3 6X6 130
9.2.4 8X8 130
9.2.5 10X10 131
9.2.6 12X12 131
9.3 TRACKED 131
9.3.1 ONGOING MILITARY MODERNIZATION EFFORTS TO DRIVE GROWTH 131
10 ARMORED VEHICLES MARKET, BY MODE OF OPERATION 132
10.1 INTRODUCTION 133
FIGURE 46 ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 133
TABLE 39 ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 133
TABLE 40 ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 133
10.2 MANNED 134
10.2.1 NEED FOR ROBUST LAND COMBAT PLATFORMS TO DRIVE GROWTH 134
10.3 UNMANNED 134
10.3.1 DEVELOPMENT OF AUTONOMOUS TRUCKS FOR COMBAT SUPPORT TO DRIVE GROWTH 134
TABLE 41 TYPES OF UNMANNED ARMORED VEHICLES 134
11 ARMORED VEHICLES MARKET, BY SYSTEM 136
11.1 INTRODUCTION 137
FIGURE 47 ARMORED VEHICLES MARKET, BY SYSTEM, 2024–2029 137
TABLE 42 ARMORED VEHICLES MARKET, BY SYSTEM, 2021–2023 (USD MILLION) 138
TABLE 43 ARMORED VEHICLES MARKET, BY SYSTEM, 2024–2029 (USD MILLION) 138
11.2 ENGINES 139
11.2.1 DIESEL ENGINES 139
11.2.2 TURBINE ENGINES 139
11.3 DRIVE SYSTEMS 139
11.3.1 POWER TRANSMISSION DRIVES 139
11.3.2 SUSPENSION & BRAKING SYSTEMS 139
11.3.3 TRACKS & WHEELS 140
11.4 BALLISTIC ARMORS 140
11.4.1 COMPOSITE ARMORS 140
11.4.2 EXPLOSIVE REACTIVE ARMORS 140
11.4.3 ELECTRIC ARMORS 140
11.4.4 HOMOGENOUS ARMORS 140
11.4.5 DEPLETED URANIUM ARMORS 140
11.4.6 ADD-ON ARMORS 141
11.5 TURRET DRIVES 141
11.6 AMMUNITION HANDLING SYSTEMS 141
11.7 FIRE CONTROL SYSTEMS 141
11.8 ARMAMENTS 141
11.9 COUNTERMEASURE SYSTEMS 141
11.10 COMMAND & CONTROL SYSTEMS 142
11.11 POWER SYSTEMS 142
11.12 NAVIGATION SYSTEMS 142
11.13 OBSERVATION & DISPLAY SYSTEMS 142
11.14 HULLS/FRAMES 142
12 ARMORED VEHICLES MARKET, BY POINT OF SALE 143
12.1 INTRODUCTION 143
12.2 OEM 143
12.3 RETROFIT 143
13 ARMORED VEHICLES MARKET, BY REGION 144
13.1 INTRODUCTION 145
FIGURE 48 ARMORED VEHICLES MARKET, BY REGION, 2024–2029 145
13.1.1 REGIONAL RECESSION IMPACT ANALYSIS 145
TABLE 44 REGIONAL RECESSION IMPACT ANALYSIS 146
TABLE 45 ARMORED VEHICLES MARKET, BY REGION, 2021–2023 (USD MILLION) 147
TABLE 46 ARMORED VEHICLES MARKET, BY REGION, 2024–2029 (USD MILLION) 147
13.2 NORTH AMERICA 148
13.2.1 PESTLE ANALYSIS 148
13.2.2 RECESSION IMPACT ANALYSIS 149
FIGURE 49 NORTH AMERICA: ARMORED VEHICLES MARKET SNAPSHOT 149
TABLE 47 NORTH AMERICA: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 150
TABLE 48 NORTH AMERICA: ARMORED VEHICLES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 150
TABLE 49 NORTH AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 150
TABLE 50 NORTH AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 150
TABLE 51 NORTH AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 151
TABLE 52 NORTH AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 151
TABLE 53 NORTH AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 151
TABLE 54 NORTH AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 151
TABLE 55 NORTH AMERICA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 152
TABLE 56 NORTH AMERICA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 152
13.2.3 US 152
13.2.3.1 Collaborations and joint ventures between key players to drive growth 152
TABLE 57 US: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 152
TABLE 58 US: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 153
TABLE 59 US: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 153
TABLE 60 US: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 153
TABLE 61 US: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 153
TABLE 62 US: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 153
TABLE 63 US: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 154
TABLE 64 US: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 154
13.2.4 CANADA 154
13.2.4.1 Military modernization programs to drive growth 154
TABLE 65 CANADA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 154
TABLE 66 CANADA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 155
TABLE 67 CANADA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 155
TABLE 68 CANADA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 155
TABLE 69 CANADA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 155
TABLE 70 CANADA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 156
TABLE 71 CANADA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 156
TABLE 72 CANADA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 156
13.3 EUROPE 157
13.3.1 PESTLE ANALYSIS 157
13.3.2 RECESSION IMPACT ANALYSIS 158
FIGURE 50 EUROPE: ARMORED VEHICLES MARKET SNAPSHOT 158
TABLE 73 EUROPE: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 159
TABLE 74 EUROPE: ARMORED VEHICLES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 159
TABLE 75 EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 159
TABLE 76 EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 159
TABLE 77 EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 160
TABLE 78 EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 160
TABLE 79 EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 160
TABLE 80 EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 160
TABLE 81 EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 160
TABLE 82 EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 161
13.3.3 UK 161
13.3.3.1 Surge in armored vehicle upgrade programs to drive growth 161
TABLE 83 UK: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 161
TABLE 84 UK: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 161
TABLE 85 UK: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 162
TABLE 86 UK: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 162
TABLE 87 UK: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 162
TABLE 88 UK: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 162
TABLE 89 UK: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 162
TABLE 90 UK: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 163
13.3.4 GERMANY 163
13.3.4.1 Focus on modernizing domestic armored personnel carrier fleets to drive growth 163
TABLE 91 GERMANY: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 163
TABLE 92 GERMANY: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 163
TABLE 93 GERMANY: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 164
TABLE 94 GERMANY: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 164
TABLE 95 GERMANY: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 164
TABLE 96 GERMANY: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 164
TABLE 97 GERMANY: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 164
TABLE 98 GERMANY: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 165
13.3.5 FRANCE 165
13.3.5.1 Procurement of new-generation combat vehicles to drive growth 165
TABLE 99 FRANCE: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 165
TABLE 100 FRANCE: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 166
TABLE 101 FRANCE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 166
TABLE 102 FRANCE: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 166
TABLE 103 FRANCE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 166
TABLE 104 FRANCE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 167
TABLE 105 FRANCE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 167
TABLE 106 FRANCE: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 167
13.3.6 POLAND 167
13.3.6.1 Increase in domestic defense spending to drive growth 167
TABLE 107 POLAND: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 168
TABLE 108 POLAND: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 168
TABLE 109 POLAND: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 168
TABLE 110 POLAND: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 168
TABLE 111 POLAND: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 169
TABLE 112 POLAND: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 169
TABLE 113 POLAND: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 169
TABLE 114 POLAND: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 169
13.3.7 REST OF EUROPE 169
TABLE 115 REST OF EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 170
TABLE 116 REST OF EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 170
TABLE 117 REST OF EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 170
TABLE 118 REST OF EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 170
TABLE 119 REST OF EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 171
TABLE 120 REST OF EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 171
TABLE 121 REST OF EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 171
TABLE 122 REST OF EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 171
13.4 ASIA PACIFIC 172
13.4.1 PESTLE ANALYSIS 172
13.4.2 RECESSION IMPACT ANALYSIS 173
FIGURE 51 ASIA PACIFIC: ARMORED VEHICLES MARKET SNAPSHOT 173
TABLE 123 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 174
TABLE 124 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 174
TABLE 125 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 174
TABLE 126 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 174
TABLE 127 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 175
TABLE 128 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 175
TABLE 129 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 175
TABLE 130 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 175
TABLE 131 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 175
TABLE 132 ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 176
13.4.3 INDIA 176
13.4.3.1 Indigenous manufacturing of electric military vehicles to drive growth 176
TABLE 133 INDIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 176
TABLE 134 INDIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 177
TABLE 135 INDIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 177
TABLE 136 INDIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 177
TABLE 137 INDIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 177
TABLE 138 INDIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 178
TABLE 139 INDIA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 178
TABLE 140 INDIA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 178
13.4.4 JAPAN 178
13.4.4.1 Development of high-end military technologies to drive growth 178
TABLE 141 JAPAN: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 179
TABLE 142 JAPAN: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 179
TABLE 143 JAPAN: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 179
TABLE 144 JAPAN: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 179
TABLE 145 JAPAN: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 180
TABLE 146 JAPAN: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 180
TABLE 147 JAPAN: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 180
TABLE 148 JAPAN: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 180
13.4.5 AUSTRALIA 180
13.4.5.1 Rise in manufacturing of combat fleets to drive growth 180
TABLE 149 AUSTRALIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 181
TABLE 150 AUSTRALIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 181
TABLE 151 AUSTRALIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 181
TABLE 152 AUSTRALIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 181
TABLE 153 AUSTRALIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 182
TABLE 154 AUSTRALIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 182
TABLE 155 AUSTRALIA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 182
TABLE 156 AUSTRALIA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 182
13.4.6 SOUTH KOREA 182
13.4.6.1 High investments in robotics technologies to drive growth 182
TABLE 157 SOUTH KOREA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 183
TABLE 158 SOUTH KOREA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 183
TABLE 159 SOUTH KOREA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 183
TABLE 160 SOUTH KOREA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 183
TABLE 161 SOUTH KOREA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 184
TABLE 162 SOUTH KOREA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 184
TABLE 163 SOUTH KOREA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 184
TABLE 164 SOUTH KOREA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 184
13.4.7 REST OF ASIA PACIFIC 184
TABLE 165 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 185
TABLE 166 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 185
TABLE 167 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 185
TABLE 168 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 186
TABLE 169 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 186
TABLE 170 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 186
TABLE 171 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 186
TABLE 172 REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 187
13.5 MIDDLE EAST 187
13.5.1 PESTLE ANALYSIS 187
13.5.2 RECESSION IMPACT ANALYSIS 188
FIGURE 52 MIDDLE EAST: ARMORED VEHICLES MARKET SNAPSHOT 189
TABLE 173 MIDDLE EAST: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 189
TABLE 174 MIDDLE EAST: ARMORED VEHICLES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 190
TABLE 175 MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 190
TABLE 176 MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 190
TABLE 177 MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 190
TABLE 178 MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 191
TABLE 179 MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 191
TABLE 180 MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 191
TABLE 181 MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 191
TABLE 182 MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 191
13.5.3 GULF COOPERATION COUNCIL (GCC) 192
13.5.3.1 Saudi Arabia 192
13.5.3.1.1 Rising concerns over regional security to drive growth 192
TABLE 183 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 192
TABLE 184 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 192
TABLE 185 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 193
TABLE 186 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 193
TABLE 187 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 193
TABLE 188 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 193
TABLE 189 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 193
TABLE 190 SAUDI ARABIA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 194
13.5.3.2 UAE 194
13.5.3.2.1 Significant presence of prominent players to drive growth 194
TABLE 191 UAE: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 194
TABLE 192 UAE: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 194
TABLE 193 UAE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 195
TABLE 194 UAE: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 195
TABLE 195 UAE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 195
TABLE 196 UAE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 195
TABLE 197 UAE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 195
TABLE 198 UAE: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 196
13.5.4 REST OF MIDDLE EAST 196
TABLE 199 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 196
TABLE 200 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 196
TABLE 201 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 197
TABLE 202 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 197
TABLE 203 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 197
TABLE 204 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 197
TABLE 205 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 198
TABLE 206 REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 198
13.6 REST OF THE WORLD 199
FIGURE 53 REST OF THE WORLD: ARMORED VEHICLES MARKET SNAPSHOT 199
TABLE 207 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 199
TABLE 208 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 200
TABLE 209 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 200
TABLE 210 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 200
TABLE 211 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 200
TABLE 212 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 201
TABLE 213 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 201
TABLE 214 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 201
TABLE 215 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 201
TABLE 216 REST OF THE WORLD: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 202
13.6.1 LATIN AMERICA 202
13.6.1.1 Increasing acquisition of modern armored vehicles to drive growth 202
TABLE 217 LATIN AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2023 (USD MILLION) 202
TABLE 218 LATIN AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2024–2029 (USD MILLION) 202
TABLE 219 LATIN AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2023 (USD MILLION) 203
TABLE 220 LATIN AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2024–2029 (USD MILLION) 203
TABLE 221 LATIN AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2023 (USD MILLION) 203
TABLE 222 LATIN AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2024–2029 (USD MILLION) 203
TABLE 223 LATIN AMERICA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2023 (USD MILLION) 203
TABLE 224 LATIN AMERICA: ARMORED VEHICLES MARKET, BY TYPE, 2024–2029 (USD MILLION) 204