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The market has been segmented by technology, which includes active protection system, interoperable communication, modular ballistic armor, electric armor, situational awareness, active mine protection, and vehicle information integration. Geographically, the armored vehicles upgrade and retrofit market is led by the US, Canada, the UK, and Germany, and India, Russia, Malaysia, UAE, China, Israel, Japan, and Korea in Asia-Pacific.
Growing Demand for Commercial Aircraft Windows and Windshields Market
Amid the economic woes in Europe and defense budget cut in the US, companies are facing high levels of uncertainty in the market. However, there has been a growing interest from the emerging markets in APAC and the Middle East. Western military forces are mainly looking for high-end and modernized military armored vehicles and large-scale modernization of the existing fleet of vehicles.
The emerging countries in APAC and the Middle East are also strengthening their fleet of armored vehicles with modern systems and capabilities.
The US is expected to remain a big consumer of upgrade and retrofit of armored vehicles. Excluding Russia, Europe has around 7,500, equivalent to 14%, of the main battle tanks (MBTs). Also, 23 European countries have procurement of armored vehicles underway or planned shortly. It is expected to launch new vehicles manufactured by European manufacturing companies. The armored vehicles upgrade and retrofit market of other countries in Europe (Turkey, Kazakhstan, Afghanistan, etc.) is expected to register a CAGR of over 2% and reach USD 0.53 billion by 2023.
Key Players include - AM General, MKU, Oshkosh Defense, Sabiex International, BAE Systems, and Thales Group, among others.
Key Developments in the Market
February, 2017- General Dynamics Land Systems signed a contract worth USD 308 million with the Government of Canada, to upgrade their 141 Light Armored Vehicles.
September 28, 2017- Biscuits to armored cars: Midland's old Pillsbury plant has a new owner. The Pillsbury plant in Midland was once known for its fluffy, rich biscuits, but now an armored car manufacturer has rolled out the dough to transform the facility.
March 2017- Navistar has bagged a USD 35 million contract from the US Department of Defense to supply 40 MaxxPro Dash DXM mine-resistant, armored trucks to the Pakistan Army. The US-based truck major had a joint venture with India's tractor and utility vehicle maker Mahindra & Mahindra (M&M).
January 2017- The Kharkiv Morozov Machine Building Design Bureau (KMDB) is reportedly developing an infantry fighting vehicle (IFV) using the Oplot-M main battle tanks (MBT) chassis.
Reasons to Purchase the Report
• Provides latest insights into global armored vehicles upgrade and retrofit market
• Gives a detailed analysis of key competitors in the global armored vehicles upgrade and retrofit market
• Forecasts the market value by assessing the impact of the market drivers and constraints
• 3-month analyst support, along with the Market Estimate Sheet (in excel)
Report Customization and Benefits
• This report can be customized to meet the desired requirements. Please connect with our analyst/sales representative, who will ensure you get a report that suits your needs.
• 3 month analyst support, along with the Market Estimate Sheet (in Excel).
Growing Demand for Commercial Aircraft Windows and Windshields Market
Amid the economic woes in Europe and defense budget cut in the US, companies are facing high levels of uncertainty in the market. However, there has been a growing interest from the emerging markets in APAC and the Middle East. Western military forces are mainly looking for high-end and modernized military armored vehicles and large-scale modernization of the existing fleet of vehicles.
The emerging countries in APAC and the Middle East are also strengthening their fleet of armored vehicles with modern systems and capabilities.
The US is expected to remain a big consumer of upgrade and retrofit of armored vehicles. Excluding Russia, Europe has around 7,500, equivalent to 14%, of the main battle tanks (MBTs). Also, 23 European countries have procurement of armored vehicles underway or planned shortly. It is expected to launch new vehicles manufactured by European manufacturing companies. The armored vehicles upgrade and retrofit market of other countries in Europe (Turkey, Kazakhstan, Afghanistan, etc.) is expected to register a CAGR of over 2% and reach USD 0.53 billion by 2023.
Key Players include - AM General, MKU, Oshkosh Defense, Sabiex International, BAE Systems, and Thales Group, among others.
Key Developments in the Market
February, 2017- General Dynamics Land Systems signed a contract worth USD 308 million with the Government of Canada, to upgrade their 141 Light Armored Vehicles.
September 28, 2017- Biscuits to armored cars: Midland's old Pillsbury plant has a new owner. The Pillsbury plant in Midland was once known for its fluffy, rich biscuits, but now an armored car manufacturer has rolled out the dough to transform the facility.
March 2017- Navistar has bagged a USD 35 million contract from the US Department of Defense to supply 40 MaxxPro Dash DXM mine-resistant, armored trucks to the Pakistan Army. The US-based truck major had a joint venture with India's tractor and utility vehicle maker Mahindra & Mahindra (M&M).
January 2017- The Kharkiv Morozov Machine Building Design Bureau (KMDB) is reportedly developing an infantry fighting vehicle (IFV) using the Oplot-M main battle tanks (MBT) chassis.
Reasons to Purchase the Report
• Provides latest insights into global armored vehicles upgrade and retrofit market
• Gives a detailed analysis of key competitors in the global armored vehicles upgrade and retrofit market
• Forecasts the market value by assessing the impact of the market drivers and constraints
• 3-month analyst support, along with the Market Estimate Sheet (in excel)
Report Customization and Benefits
• This report can be customized to meet the desired requirements. Please connect with our analyst/sales representative, who will ensure you get a report that suits your needs.
• 3 month analyst support, along with the Market Estimate Sheet (in Excel).
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
