Global Armored Vehicle Market Size & Outlook, 2023-2030
Global armored vehicle market, 2018-2030 (US$M)
Related Markets
Global armored vehicle market highlights
- The global armored vehicle market generated a revenue of USD 30,798.4 million in 2023 and is expected to reach USD 44,563.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.4% by 2030.
- In terms of segment, combat vehicles accounted for a revenue of USD 19,783.6 million in 2023.
- Combat Support Vehicles is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 30,798.4 million |
| Market revenue in 2030 | USD 44,563.6 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Combat vehicles |
| Fastest growing segment | Combat Support Vehicles |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Combat Vehicles, Combat Support Vehicles |
Other key industry trends
- In terms of revenue, the North America accounted for 26.3% of the global armored vehicle market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 159.3 million by 2030.
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Armored Vehicle Market Scope
Armored Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global armored vehicle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to armored vehicle market will help companies and investors design strategic landscapes.
Combat vehicles was the largest segment with a revenue share of 64.24% in 2023. Horizon Databook has segmented the Global armored vehicle market based on combat vehicles, combat support vehicles covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Armored Vehicle Product Outlook (Revenue, USD Million, 2018-2030)
- Combat Vehicles
- Armored Personnel Carrier (APC)
- Infantry Fighting Vehicles (IFV)
- Light Protected Vehicles (LPV)
- Main Battle Tanks (MBT)
- Mine-resistant Ambush Protected (MRAP)
- Tactical Vehicle
- Others
- Combat Support Vehicles
- Armored Supply Trucks
- Armored Command & Control Vehicles
- Repair & Recovery Vehicles
- Unmanned Armored Ground Vehicles
- Combat Vehicles
- Global Armored Vehicle Type Outlook (Revenue, USD Million, 2018-2030)
- Electric Armored Vehicles
- Conventional Armored Vehicles
- Global Armored Vehicle Mobility Outlook (Revenue, USD Million, 2018-2030)
- Wheeled
- Tracked
- Global Armored Vehicle Mode of Operation Outlook (Revenue, USD Million, 2018-2030)
- Manned Armored Vehicles
- Unmanned Armored Vehicles
- Global Armored Vehicle Point of Sale Outlook (Revenue, USD Million, 2018-2030)
- OEM
- Retrofit
- Global Armored Vehicle System Outlook (Revenue, USD Million, 2018-2030)
- Engines
- Drive Systems
- Communication System
- Fire Control Systems (FCS)
- Navigation Systems
- Others
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Our clientele includes a mix of armored vehicle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global armored vehicle market , including forecasts for subscribers. This global databook contains high-level insights into Global armored vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global armored vehicle market size, by regions, 2018-2030 (US$M)
Top 10 countries: Armored vehicle market size, 2023 (US$M)
Global armored vehicle market share, by product, 2023 & 2030 (%, US$M)
Armored vehicle market: Opportunity assessment by country
Global armored vehicle market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 6,869.9 | 7,127.0 | 7,285.9 | 7,502.5 | 7,776.1 | 8,105.1 | 8,486.6 | 8,914.5 | 9,377.0 | 9,859.6 | 10,353.0 | 10,840.9 | 11,319.2 | 4.9% |
| Europe | 6,397.6 | 6,618.2 | 6,746.2 | 6,926.5 | 7,157.8 | 7,438.4 | 7,764.8 | 8,131.2 | 8,526.5 | 8,937.0 | 9,354.2 | 9,763.3 | 10,160.5 | 4.6% |
| Asia Pacific | 7,954.4 | 8,380.3 | 8,699.3 | 9,095.5 | 9,571.1 | 10,127.7 | 10,764.6 | 11,477.4 | 12,253.6 | 13,076.1 | 13,934.0 | 14,806.0 | 15,686.4 | 6.5% |
| Latin America | 1,590.6 | 1,641.7 | 1,669.6 | 1,710.2 | 1,763.1 | 1,827.7 | 1,903.2 | 1,988.0 | 2,079.2 | 2,173.6 | 2,269.0 | 2,361.7 | 2,451.0 | 4.3% |
| MEA | 2,658.6 | 2,786.2 | 2,877.3 | 2,993.0 | 3,133.8 | 3,299.6 | 3,490.1 | 3,703.4 | 3,935.2 | 4,179.8 | 4,433.6 | 4,689.8 | 4,946.6 | 6.0% |
| Overall | 25,470.9 | 26,553.4 | 27,278.3 | 28,227.6 | 29,401.9 | 30,798.4 | 32,409.2 | 34,214.4 | 36,171.5 | 38,226.0 | 40,343.8 | 42,461.8 | 44,563.6 | 5.4% |
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