Military Armored Vehicles and Counter-IED Vehicles Market by Product and Geography - Forecast and Analysis 2021-2025

The military armored vehicles and counter-IED vehicles market share is expected to increase by USD 6.02 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.61%.

This military armored vehicles and counter-IED vehicles market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers military armored vehicles and counter-IED vehicles market segmentation by product (IFV, APC, MBT, SPH, and others) and geography (APAC, North America, MEA, Europe, and South America). The military armored vehicles and counter-IED vehicles market report also offers information on several market vendors, including Alpine Armoring Inc., BAE Systems Plc, Denel SOC Ltd., General Dynamics Corp., Hyundai Heavy Industries Co. Ltd., Lockheed Martin Corp., Navistar International Corp., Oshkosh Corp., Rheinmetall AG, and Rostec State Corp. among others.

What will the Military Armored Vehicles and Counter-IED Vehicles Market Size be During the Forecast Period?

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Military Armored Vehicles and Counter-IED Vehicles Market: Key Drivers and Trends

The ongoing digitization of battlefield operations is notably driving the military armored vehicles and counter-IED vehicles market growth, although factors such as high R&D costs and successive project cancellations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the military armored vehicles and counter-IED vehicles industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Military Armored Vehicles and Counter-IED Vehicles Market Driver

The ongoing digitization of battlefield operations is one of the key factors that will drive market growth. Factors such as the introduction of information-based weapon systems that are capable of providing effective firepower and knowledge base for combat personnel will transform military tactics and procedures. The adoption of networked technologies will provide customers with automated remote area target monitoring. Additionally, it also aids in enhancing surveillance by providing units the ability to detect and recognize personnel. Advanced economies have already started adopting electronic warfare and are involved in R&D to enhance military efficiency. With the growing number of countries adopting modern technologies, the demand for modern warfare vehicles will increase in the coming years.

Key Military Armored Vehicles and Counter-IED Vehicles Market Trend

Terrorist organizations are enhancing technological skills for escalating the dimension of security threats. The use of advanced explosives has increased the need for developing new MRAP systems to counter emerging threats. Several nations have already launched modernization initiatives for their armored vehicle fleet to deliver an augmented level of safety and mission readiness. Such initiatives taken by the global armed forces to counter-terrorism will accelerate military armored vehicles and counter-IED vehicles market growth during the forecast period.

This military armored vehicles and counter-IED vehicles market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Military Armored Vehicles and Counter-IED Vehicles Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Alpine Armoring Inc.
• BAE Systems Plc
• Denel SOC Ltd.
• General Dynamics Corp.
• Hyundai Heavy Industries Co. Ltd.
• Lockheed Martin Corp.
• Navistar International Corp.
• Oshkosh Corp.
• Rheinmetall AG
• Rostec State Corp.

This statistical study of the military armored vehicles and counter-IED vehicles market encompasses successful business strategies deployed by the key vendors. The military armored vehicles and counter-IED vehicles market is fragmented and the vendors are deploying growth strategies such as investing in the R&D of better products to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The military armored vehicles and counter-IED vehicles market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Military Armored Vehicles and Counter-IED Vehicles Market?

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38% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for military armored vehicles and counter-IED vehicles in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

Rapid development in terms of procurement initiatives and placement of adjoining orders will facilitate the military armored vehicles and counter-IED vehicles market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Military Armored Vehicles and Counter-IED Vehicles Market?

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The military armored vehicles and counter-IED vehicles market share growth by the IFV segment will be significant during the forecast period. The high demand for IFVs is attributable to the variety of features they possess and the plethora of strategic options they can deliver when deployed on the battlefield. A considerable increase in technological and strategic collaborations between manufacturers to develop and integrate state-of-the-art technologies into IFVs has been observed in the last decade. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the military armored vehicles and counter-IED vehicles market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Military Armored Vehicles and Counter-IED Vehicles Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive military armored vehicles and counter-IED vehicles market growth during the next five years
• Precise estimation of the military armored vehicles and counter-IED vehicles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the military armored vehicles and counter-IED vehicles industry across APAC, North America, MEA, Europe, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of military armored vehicles and counter-IED vehicles market vendors

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