Description
Armored Personnel Carrier Market Research Report-Forecast till 2027
Market Overview
The global armored personnel carrier market is anticipated to register a healthy CAGR of 4.66% during the review period to surpass USD 5,632.84 million by the end of 2027. The armored battle vehicle, armored vehicle, or infantry portability vehicle are referred to as armored personnel carriers planned to convey troops and gear into the front line.
APCs weigh not exactly the infantry taking on vehicles and principal conflict tanks and consequently are more versatile. Dissimilar to the infantry battling vehicles (IFV), APCs don’t take part in the immediate firefight and are principally intended for transport.
The development of the worldwide armored personnel carrier market is credited to the expanding military consumption and expanding frequencies of psychological oppression across the globe. Additionally, the modernization of armored vehicle armadas likewise drives the development of the armored personnel carrier market.
Be that as it may, issues identified with warm administration innovations and high vibrations and sounds related to the followed APC are expected to hamper the market adversely. Interestingly, mechanical progressions and the presentation of new materials for armored vehicles are expected to give critical development freedoms to the armored personnel carrier market.
Market Segmentation
The global armored personnel carrier market is classified based on Design, Range, Carrying Capacity, configuration, and End-user.
By Design, the global market is divided into Wheeled APC and Tracked APC. By Range segment, the global market is divided into Less than 500 km and More than 500 km. in terms of Carrying Capacity the global market is segmented into Less than 10,000 Kg and Greater than & Equal to 10,000 Kg.
By Configuration, the global market is divided into Amphibious and Non-Amphibious. In terms of End Users, the market is classified into Military, Law Enforcement, and Others.
Regional Analysis
Europe includes the UK, Germany, France, and Italy. Europe initiated the armored personnel carrier market in 2019 with a CAGR worth of 29.08% and is probably going to keep on directing during the appraisal time frame. This is because of the new expansion in interests in land abilities, the presence of central participants, an ascent of quick security dangers toward the east and south of Europe, and inclusion in clashes in the Middle East.
Asia-Pacific stood firm on the second-biggest foothold in the by and large armored personnel carrier market with a portion of 27.42% in 2019 and is expected to enlist the most elevated development over the conjecture time frame. Rising military spending in China and India and expanding political struggles and security dangers are driving the market development in the area.
Besides, expanding native R&D exercises attempted to foster progressed plans of armored vehicles for improved line and sea watching and dangers of cross-line psychological warfare are additionally driving the interest for armored personnel carriers.
Major Players
The major competitors of the global armored personnel carrier are BAE Systems Plc (UK), DRB-HICOM Defense Technologies Sdn. Bhd (Malaysia), FNSS Savunma Sistemleri A.Ş. (Turkey), General Dynamics Corporation (US), Hanwha Defense Systems (South Korea), Nurol Makina ve Sanayi A.Ş. (Turkey), Terradyne Armored Vehicles Inc. (Canada), Iveco – Oto Melara Consortium (Italy), Katmerciler A.S. (Turkey), KMDB A.A. (Ukraine), Krauss-Maffei Wegmann GmbH & Co. KG (Bavaria), Rheinmetall AG (Germany), Bruisertech (South Africa), Military Industrial Company LLC (Russia), Otokar Otomotiv Ve Savunma Sanayi A.Ş (Turkey), Paramount Group (South Africa), Patria Oyj (Finland), and ST Kinetics (Singapore).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries.
Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Global Armored Vehicles Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
