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Global Military Armored Vehicles and MRO Market: Increasing Perils from Neighboring Countries to Drive Market Growth

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Published on : Sep 16, 2016

ALBANY, New York, September 16, 2016: ResearchMoz.us has announced the addition of a new report, titled “The Global Military Armored Vehicles and MRO Market 2016-2026” to its offering. This study on the global military armored vehicles and MRO market is collated by conducting both secondary and primary research. This study evaluates the factors influencing the demand of armored vehicles, challenges encountered by the key players, and top market trends. The different demands in different regions dominant in the military armored vehicles and MRO market have also been described in detail. The report further presents the competitive landscape encapsulating the strategies adopted by the established players and data on the key alliances taking place in this market.

The first section of the report starts by presenting an overview of the global military armored vehicles and MRO market. This section encapsulates the current and predicted size of the market as well as the market dynamics such as the technological developments, trends, demand drivers, and prime challenges in this market in the forecast horizon 2016 to 2026. The market stood at US$22.5 bn in 2016 and is poised to reach US$32.4 bn by 2026, rising at a 3.71% CAGR between 2016 and 2026. 

As stated in the report, the insurgency issues and the increasing perils from neighboring countries are amongst the prime factors raising demand for armored vehicles globally. In addition, advancements in munitions and increasing protection plans globally will further provide impetus to the growth of the global armored vehicles and MRO market. 

Moving further, the segmentation of the market has been presented. The global armored vehicles and MRO market is categorized into IFVs, MBTs, APCs, LMVs, MRAPs, and tactical trucks. Amongst these, IFVs are anticipated to hold a significant share of 32.2% in the market in forthcoming years. This segment will be trailed by the segment of MBT. The segment of MBT is predicted to constitute a share of 25.8% in the forecast period, while APC is expected to emerge as the third-largest segment and will hold a share of 17.4% in the forecast horizon.

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LMVs segment will trail the segment of APC and is poised to represent a share of 11.1% in the forecast period. On the other hand, the segments of MRAPs and tactical trucks are anticipated to constitute a share of 5.2% and 8.3%, respectively, during the forecast period.

In the following part of the study, the regional review of the global military armored vehicles and MRO market has been presented. Geographically, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Asia Pacific is predicted to hold a dominant share of 26.8% in the market from 2016 to 2026. This region will be trailed by North America and Europe constituting shares of 24.8% and 23.9%, respectively, in the forecast period.

The last section of the report presents the 18 top companies operating in this market and their key services and products. Net profits and operating profits of these companies have also been presented under this part of the study.

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