Armoured Vehicle Market Report 2022

The Global Military Armoured Vehicle Market is expected to grow to over £30 Billion annually by 2027. The cumulative market is valued at $250 Billion over the next 10 years.
This Asian market is forecast to account for more than 30% of the total market. Increasing defence spending, coupled with many countries now pursuing indigenous programmes is driving growth in this region. Armoured Vehicle Survivability and Weapons are also key market growth areas. The key area of focus in the Armoured Personnel Carrier is to reduce the exposure of the gunner to enemy fire. The remotely operated weapon is also becoming a standard fit for these vehicles.
The top three countries with the largest armoured vehicle fleets are still Russia, China and U.S.A. The Armoured Personnel Carrier (APC) accounts for the biggest share of the total fleet. However, the largest evolution of the Armoured Vehicle Market is the slow transformation from Passive Armour to Active Protection Systems (APS). The APS was historically used predominantly on MBTs; however the effectiveness of the system is extending its adoption to the APC segment as well.