Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 50.24 Billion | USD 69.51 Billion | 3.30% | 2024 |
FrequentlyAsked Questions
Armored vehicles are specialized transportation solutions designed with reinforced protection systems to safeguard occupants against various threats, including ballistic attacks, explosive devices, and other security risks through advanced armor plating and safety features.
The armored vehicles market is expected to be driven by increasing global security threats, rising defense spending worldwide, military modernization programs, growing demand for law enforcement protection, and technological advancements in armor materials and vehicle systems.
According to our study, the global armored vehicles market was worth around USD 50.24 billion in 2024 and is predicted to grow to around USD 69.51 billion by 2034.
The CAGR value of the armored vehicles market is expected to be around 3.30% during 2025-2034.
The global armored vehicles market will register the highest revenue contribution from North America during the forecast period.
Key players in the armored vehicles market include General Dynamics Corporation, BAE Systems plc, Lockheed Martin Corporation, Rheinmetall AG, Oshkosh Defense LLC, Textron Inc., AM General LLC, Krauss-Maffei Wegmann GmbH and Co. KG, Leonardo S.p.A., Thales Group, Elbit Systems Ltd., Rafael Advanced Defense Systems Ltd., Denel Land Systems, Paramount Group, International Armored Group, Alpine Armoring Inc., Texas Armoring Corporation, Armormax, Lenco Industries Inc., and Cadillac Gage Textron.
The report provides a comprehensive analysis of the armored vehicles market, including an in-depth examination of market drivers, restraints, emerging trends, regional dynamics, and future growth prospects. It also examines the competitive dynamics, technological innovations, procurement strategies, and defense modernization programs that shape the global armored vehicle industry ecosystem.
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