Latin America Armored Vehicle Market Size & Outlook
Latin America armored vehicle market, 2018-2030 (US$M)
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Latin America armored vehicle market highlights
- The Latin America armored vehicle market generated a revenue of USD 1,827.7 million in 2023.
- The market is expected to grow at a CAGR of 4.3% from 2024 to 2030.
- In terms of segment, combat vehicles was the largest revenue generating product in 2023.
- Combat Support Vehicles is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,827.7 million |
| Market revenue in 2030 | USD 2,451.0 million |
| Growth rate | 4.3% (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 |
| Key market players worldwide | BAE Systems PLC, Bayerische Motoren Werke AG ADR, Elbit Systems Ltd, Mercedes-Benz Group AG, Ford Motor Co, General Dynamics Corp, International Armored Group, Iveco Group NV Ordinary Shares, Lockheed Martin Corp, Navistar, Oshkosh Defense, Rheinmetall AG, Textron Inc, Thales, Krauss-Maffei Wegmann, Lenco Armored Vehicles |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.9% of the global armored vehicle market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 15,686.4 million by 2030.
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Armored Vehicle Market Scope
Armored Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 57.88% in 2023. Horizon Databook has segmented the Latin America armored vehicle market based on combat vehicles, combat support vehicles covering the revenue growth of each sub-segment from 2018 to 2030.
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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 continent-level data and insights on the Latin America armored vehicle market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America armored vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America armored vehicle market size, by country, 2018-2030 (US$M)
Latin America Armored Vehicle Market Outlook Share, 2023 & 2030 (US$M)
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