(PRWEB) August 21, 2014
The Europe armored vehicle market under the defense segment is estimated at $6,300 million in 2014 and it is expected to reach $6,582.60 million by 2019. Europe is expected to grow at a CAGR of 0.88% in the armored vehicle market for the given period. The global economic slowdown was obviously resonant in Europe, and it was clearly visible from the continuous defense budget cut. However, it was observed that a lot of expenditure was made on land force assets during the Afghanistan war, and a whole range of new vehicles was introduced through Urgent Operational Requirements (UOR) with heavily protected solutions, focused mainly on survival strategies.
Browse through the TOC of the Europe armored vehicle market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the European armored vehicle market, and is supported by various tables and figures.
The market size of the global armored vehicle market is estimated, and the different sub-segments of this market are also mentioned in the report. The report further benchmarks the industry against the key global markets, and provides a detailed understanding of emerging opportunities in specific areas. It also highlights the impact analysis of market dynamics with factors that currently drive and restrain the growth of the market, along with their impact in the short, medium, and long-term landscapes.
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After the withdrawal of forces from Afghanistan, the NATO allies are addressing these issues and giving primary importance to mechanized units. However, the cost of maintenance of these vehicles is relatively high. Hence, the production of new armored vehicle is a big risk for any country considering the current economic scenario. Improvised explosive device (IED) threats are predominantly posing the biggest threat on any country’s security. Therefore, large investments will be made on vehicles that can be used for protection from IED and CBRN threats.
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This report includes the market share, supply chain, and value chain analyses. In addition, it presents a competitive landscape and company profiles of the key players in this market.
North America Armored Vehicle Market
The North American armored vehicle market is expected to grow at a CAGR of 0.6%. This report provides a market analysis of the North America armored vehicle market over the next five years. It contains the analysis of drivers, challenges, and restraints that impact the industry. It also discusses the industry trends that currently prevail in the armored vehicle market.
The key players in the armored vehicle market include BAE Systems, General Dynamics Corporation, Oshkosh Corporation, Lockheed Martin, Thales, Navistar, Elbit Systems, Textron, Krauss- Maffei Wegmann, and Rheinmetall AG.
Asia-Pacific Armored Vehicle Market
The Asia Pacific armored vehicle market has reached a value of $4,050.0 million in 2014 and is estimated to reach a value of $6,582.6 million by 2019, growing at a CAGR of approximately 10.2% from 2014 to 2019. MRAPs have the highest market value in the study period compared to the other products.
The purpose of the armored vehicle report is to identify the various applications, technologies involved, products, and distribution channels of the Asia-Pacific armored vehicle market. It includes a deep dive analysis of the market segmentation, which comprises technology type, products, applications, and countries. The segmentation of products includes main battle tanks, light protected vehicles, armored personal carriers, amphibious armored vehicles, unmanned ground vehicles, and mine-resistant ambush protected vehicles. Tracking and analysis of competitive developments such as alliances, joint ventures, and mergers & acquisitions are covered in this report. It also provides the restraints impacting the growth of the market and its industry. Brief information about industry trends, market trends, and technology trends that are currently prevailing in the market have also been provided in the report.
Middle East Armored Vehicle Market
The main purpose of armored vehicle is to protect soldiers from CBRN or mine attacks. Special vehicles such as Mine-Resistant Ambush Protected Vehicles (MRAPs) have been introduced to accomplish the purpose. Until 2012, around 42,000 MRAPs were produced with an overall expenditure of $47.7 billion.
The Middle East armored vehicle market has reached a value of $1,144.64 million in 2014 and is estimated to reach a value of $1,798.42 million by 2019, growing at a CAGR of approximately 9.46% during this period. Internal and external security threats are the major drivers of the armored vehicle market. The major challenges for armored vehicle market are the extreme dependence on the defense sector and continuous political tensions from neighboring countries. MRAPs have the highest market value in the study period compared to other products.
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