装甲車両市場 – 2030年までの世界予測

Armored Vehicles Market - Global Forecast to 2030

装甲車両市場 - プラットフォーム(戦闘車両、戦闘支援車両、無人地上車両)、移動性(車輪式、無限軌道式)、推進力(従来型、電動)、システム、運用モード、販売場所および地域別 - 2030年までの世界予測
Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Ground Vehicles), Mobility (Wheeled, Tracked), Propulsion (Conventional, Electric), System, Operation Mode, Point of Sale and Region - Global Forecast to 2030

商品番号 : SMB-23437

出版社MarketsandMarkets
出版年月2025年6月
ページ数339
図表数408
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

この市場調査は、装甲車両市場を様々なセグメントとサブセグメントにわたって網羅しています。地域に基づいて様々なセグメントにおける市場規模と成長の可能性を推定することを目的としています。また、主要プレーヤーの詳細な競合分析、企業概要、製品および事業内容に関する主要な考察、最近の動向、そして主要な市場戦略も含まれています。

The armored vehicles market is estimated at USD 51.6 billion in 2025 and is projected to reach USD 60.7 billion by 2030 at a CAGR of 3.3% from 2025 to 2030. Nations facing territorial disputes or border tensions, such as those in regions like South Asia, Eastern Europe, and the Middle East, are compelled to bolster their defense capabilities, including the acquisition of armored vehicles. These conflicts heighten the demand for advanced military equipment to ensure territorial integrity and protect national borders. As a result, governments allocate substantial budgets toward the procurement of armored vehicles equipped with cutting-edge technology, enhancing their combat capabilities and readiness to respond to potential threats. Additionally, the need to maintain peace and security amid border disputes fosters continuous investment in armored vehicles, sustaining market growth over the forecast period.

装甲車両市場は2025年に516億米ドルに達すると推定され、2025年から2030年にかけて年平均成長率(CAGR)3.3%で成長し、2030年には607億米ドルに達すると予測されています。南アジア、東ヨーロッパ、中東などの地域における領土紛争や国境緊張に直面している国々は、装甲車両の取得を含む防衛力の強化を余儀なくされています。これらの紛争は、領土保全を確保し国境を守るための高度な軍事装備の需要を高めています。その結果、政府は最先端技術を搭載した装甲車両の調達に多額の予算を割り当て、戦闘能力と潜在的な脅威への対応態勢を強化しています。さらに、国境紛争の中で平和と安全を維持する必要性から、装甲車両への継続的な投資が促進され、予測期間を通じて市場の成長が持続します。

装甲車両市場 - 2030年までの世界予測
armored-vehicle-market1

“Based on type, the conventional armored vehicles segment is estimated to have the largest market share in 2025.”

Conventional armored vehicles are estimated to hold the largest market of the armored vehicles market because of their established utility, extensive use, and continuous upgrading. They make up the backbone of mechanized ground forces with their facilitating capabilities in firepower, mobility, and protection for offense and defense operations.

Even with the introduction of drones and hybrid platforms, traditional armored vehicles are still crucial in combined arms and high-intensity combat, where kinetic effectiveness and survivability are a top priority. The continuing investments of principal military forces in fleet refurbishment—through enhanced armor, active protection packages, digital fire control, and networked battle management—are prolonging the service and shelf life of these systems. European, Asian, and Middle Eastern countries are procuring or modernizing conventional systems to counter evolving threats, particularly against the backdrop of increasing geopolitical tensions and shifting defense needs. These programs include the US Army M1A2 SEP upgrades, the Polish procurement of the K2 tank, and NATO’s emphasis on tracked mobility to further this trend.

“Based on platform, the combat vehicles segment is estimated to have the largest market share in 2025.”

Combat vehicles are expected to lead the armored vehicles market since they are the frontline edge of combat, force projection, and battlefield superiority. Main battle tanks (MBTs), infantry fighting vehicles (IFVs), and armored assault and reconnaissance vehicles are all part of this segment and are essential to modern land warfare doctrine. They are the model force-projection vehicle balance of firepower, defense, and mobility, allowing forces to be offensive or defensive in traditional and hybrid war environments.

The renewed red-hot fighting, as with that ongoing in Ukraine, has revalidated the utility of armored combat vehicles in their role of attacking heavily defended positions, assisting infantry, and securing control of territory. Hence, countries are investing quickly in either refurbishing older combat fleets or procuring next-generation systems with active defense systems, networked command systems, and modular, packaged armor.

“The Asia Pacific region is estimated to capture a significant market share in 2025.”

The Asia Pacific region is estimated to be a major armored vehicles market due to increased defense spending, regional competition, and enormous modernization initiatives. China, India, South Korea, Australia, and Japan are all leading countries actively building and improving their ground forces to respond to a wide range of conventional and unconventional threats. It includes strengthening perimeter defenses, developing rapid deployment capabilities, and gearing up for expected high-intensity combat environments.

The constant border conflicts in the South China Sea, increased border tensions along the India-China and Korean Peninsula borders, and strategic positioning by China’s military expansion have encouraged many countries in the region to invest in MBTs, IFVs, and wheeled armored vehicles. Projects such as India’s Future Infantry Combat Vehicle (FICV), Australia’s LAND 400, and South Korea’s K2 export programs are driving local production as well as global cooperation.

Furthermore, the Asia Pacific region is emerging as a manufacturing and export hub, with countries such as South Korea and India entering international markets through defense cooperation and technology transfer.

Breakdown of Primary Interviews

The breakdown of the profile of primary participants in the armored vehicles market is as follows:

  • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
  • By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
  • By Region: North America – 25%, Europe – 15%, Asia Pacific – 45%, Middle East – 10%, and the Rest of the World (RoW) – 5%

Major companies profiled in the report include Rheinmetall AG (Germany), General Dynamics Corporation (US), Oshkosh Corporation (US), BAE Systems (UK), and Hanwha Defense (South Korea), among others.

装甲車両市場 - 2030年までの世界予測 ecosystem
armored-vehicle-market1-ecosystem

Research Coverage:

This market study covers the armored vehicles market across various segments and subsegments. It aims to estimate this market’s size and growth potential across different parts based on region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.

Reasons to Buy this Report:

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Armored Vehicles market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the market pulse and provide information on key market drivers, restraints, challenges, and opportunities.

The armored vehicles market experiences growth and evolution driven by various factors. Rising geopolitical tensions and terrorism are compelling countries to enhance defense capabilities, fueling demand for armored vehicles. Global military modernization programs aiming to replace aging fleets with advanced technology-equipped vehicles are further driving the market. The report provides insights into the following points:

  • Market drivers (improving ISR and target acquisition capabilities of defense forces, increasing demand for armored vehicles to tackle cross-border conflicts, rising incidence of asymmetric warfare across the globe, and increased defense spending), restraints (occurrence of mechanical and electrical failure in armored vehicles and survivability issues), opportunities (rising technology integration and upgrades in military vehicles, rising adoption of lifecycle optimization strategies for sustainment, military modernization plans across the globe) challenges (hardware and software malfunctions and high costs of main battle tanks)
  • Market Penetration: Comprehensive information on armored vehicles offered by the top players in the market
  • Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and product launches in the armored vehicles market
  • Market Development: Comprehensive information about lucrative markets (the report analyzes the armored vehicles market across varied regions)
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the armored vehicles market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the armored vehicles market

Table of Contents

1               INTRODUCTION              33

1.1           STUDY OBJECTIVES       33

1.2           MARKET DEFINITION   33

1.2.1        INCLUSIONS AND EXCLUSIONS 34

1.3           STUDY SCOPE   36

1.3.1        MARKETS COVERED       36

1.3.2        YEARS CONSIDERED      37

1.4           CURRENCY CONSIDERED            37

1.5           STAKEHOLDERS               37

1.6           SUMMARY OF CHANGES               38

2               RESEARCH METHODOLOGY       39

2.1           RESEARCH DATA              39

2.1.1        SECONDARY DATA          40

2.1.1.1    Key data from secondary sources       41

2.1.2        PRIMARY DATA 41

2.1.2.1    Key data from primary sources           42

2.1.2.2    Breakdown of primary interviews      42

2.2           FACTOR ANALYSIS          43

2.2.1        INTRODUCTION              43

2.2.2        DEMAND-SIDE INDICATORS      43

2.2.3        SUPPLY-SIDE INDICATORS          43

2.3           MARKET SIZE ESTIMATION         43

2.3.1        BOTTOM-UP APPROACH              44

2.3.1.1    Market size estimation methodology (demand side)      44

2.3.2        TOP-DOWN APPROACH                45

2.4           DATA TRIANGULATION                45

2.5           RESEARCH ASSUMPTIONS           46

2.6           RESEARCH LIMITATIONS             47

2.7           RISK ASSESSMENT           47

3               EXECUTIVE SUMMARY  48

4               PREMIUM INSIGHTS       52

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ARMORED VEHICLES MARKET  52

4.2           ARMORED VEHICLES MARKET, BY PLATFORM   53

4.3           ARMORED VEHICLES MARKET, BY MOBILITY     53

4.4           ARMORED VEHICLES MARKET, BY MODE OF OPERATION       54

4.5           ARMORED VEHICLES MARKET, BY TYPE                54

5               MARKET OVERVIEW       55

5.1           INTRODUCTION              55

5.2           MARKET DYNAMICS       55

5.2.1        DRIVERS               56

5.2.1.1    Rising military modernization programs           56

5.2.1.2    Growing demand for armored vehicles to tackle cross-border conflicts 56

5.2.1.3    Rising incidences of asymmetric warfare          57

5.2.1.4    Increased global defense spending    57

5.2.2        RESTRAINTS      58

5.2.2.1    Susceptibility to mechanical and electrical failures         58

5.2.2.2    Survivability risks for personnel onboard armored vehicles                 58

5.2.3        OPPORTUNITIES              59

5.2.3.1    Rising technology integration and upgrades in military vehicles                 59

5.2.3.2    Adoption of lifecycle optimization strategies for sustainment                 59

5.2.3.3    Surge in demand for light armored vehicles in asymmetric warfare   59

5.2.3.4    Increasing procurement of unmanned systems by defense forces                 60

5.2.3.5    Rise of next-gen amphibious and arctic-capable platforms                 60

5.2.4        CHALLENGES    60

5.2.4.1    Hardware and software malfunctions                60

5.2.4.2    High costs of main battle tanks          61

5.3           TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES       61

5.4           ECOSYSTEM ANALYSIS  61

5.4.1        PROMINENT COMPANIES            61

5.4.2        PRIVATE AND SMALL ENTERPRISES        62

5.4.3        END USERS         62

5.5           VOLUME DATA 64

5.6           PRICING ANALYSIS          66

5.7           VALUE CHAIN ANALYSIS               70

5.8           TECHNOLOGY ROADMAP            71

5.9           KEY STAKEHOLDERS AND BUYING CRITERIA     72

5.9.1        KEY STAKEHOLDERS IN BUYING PROCESS           72

5.9.2        BUYING CRITERIA           73

5.10         USE CASE ANALYSIS        74

5.10.1      VEHICLE INTEGRATION FOR C4ISR/EW INTEROPERABILITY (VICTORY) INITIATIVE        74

5.10.2      ELECTRIC FORCE FIELD FOR ARMORED VEHICLES                 74

5.10.3      SEE-THROUGH ARMOR 75

5.10.4      OSHKOSH PROPULSION HYBRID DIESEL-ELECTRIC SYSTEM                75

5.10.5      ADAPTIVE CAMOUFLAGE SYSTEM           76

5.11         KEY CONFERENCES AND EVENTS, 2024–2025        76

5.12         TRADE ANALYSIS             77

5.12.1      EXPORT DATA  77

5.12.2      IMPORT DATA  78

5.13         TECHNOLOGY ANALYSIS             79

5.13.1      KEY TECHNOLOGY         79

5.13.1.1  Design and implementation of solar-powered armored vehicles                 79

5.13.1.2  Development of multi-payload unmanned armored vehicles                 79

5.13.2      COMPLEMENTARY TECHNOLOGY           79

5.13.2.1  Electro-optical and radar sensor payloads for unmanned armored vehicles  79

5.14         BILL OF MATERIALS       79

5.15         TOTAL COST OF OWNERSHIP   82

5.16         BUSINESS MODELS         84

5.17         REGULATORY LANDSCAPE         86

5.18         INVESTMENT AND FUNDING SCENARIO               89

5.19         IMPACT OF 2025 US TARIFFS – OVERVIEW            89

5.19.1      INTRODUCTION              89

5.19.2      KEY TARIFF RATES          90

5.19.3      PRICE IMPACT ANALYSIS             91

5.19.4      IMPACT ON COUNTRY/REGION                92

5.19.4.1  US           92

5.19.4.2  Europe   93

5.19.4.3  Asia Pacific            94

5.19.4.4  Impact on end users             94

5.20         IMPACT OF AI   95

5.20.1      INTRODUCTION              95

5.20.2      IMPACT OF AI ON DEFENSE INDUSTRY 96

5.20.3      ADOPTION OF AI IN MILITARY BY TOP COUNTRIES                 97

5.20.4      IMPACT OF AI ON ARMORED VEHICLES MARKET                 98

5.21         MACROECONOMIC OUTLOOK  100

5.21.1      INTRODUCTION              100

5.21.2      NORTH AMERICA             101

5.21.3      EUROPE               101

5.21.4      ASIA PACIFIC     102

5.21.5      MIDDLE EAST   102

5.21.6      REST OF THE WORLD    103

6               INDUSTRY TRENDS         104

6.1           INTRODUCTION              104

6.2           TECHNOLOGY TRENDS                104

6.2.1        ACTIVE PROTECTION SYSTEM  105

6.2.1.1    Soft-kill technology               105

6.2.1.2    Electro-optical jammer        105

6.2.1.3    Hard-kill technology             105

6.2.2        REACTIVE ARMOR TECHNOLOGY            105

6.2.3        PROGRAMMABLE AMMUNITION              106

6.2.4        LINKLESS FEED SYSTEM                106

6.2.5        AMMUNITION FEED CHUTE       106

6.2.6        SENSOR FUSION TECHNOLOGY                106

6.3           IMPACT OF MEGATRENDS          106

6.3.1        IMPROVED AMMUNITION CARRYING CAPABILITY                 106

6.3.2        INNOVATIONS IN MICRO-ELECTROMECHANICAL SYSTEM AND NANOTECHNOLOGY          107

6.3.3        INTEROPERABLE COMMUNICATION SYSTEM    107

6.3.4        ADVANCED AUTOLOADER          107

6.4           SUPPLY CHAIN ANALYSIS             107

6.5           PATENT ANALYSIS          109

7               ARMORED VEHICLES MARKET, BY PLATFORM   112

7.1           INTRODUCTION              113

7.2           COMBAT VEHICLES        114

7.2.1        MAIN BATTLE TANKS    114

7.2.1.1    Surge in upgrade and procurement programs to drive growth                 114

7.2.1.2    Use case: Leopard 2A7 in NATO Forward Presence Operations in Lithuania by Krauss-Maffei Wegmann         115

7.2.2        INFANTRY FIGHTING VEHICLES               115

7.2.2.1    Ongoing developments by prominent defense companies and governments to drive growth              115

7.2.2.2    Use case: BMP-2 IFV Used by Indian Army in Eastern Ladakh Patrols by Ordnance Factory Board  115

7.2.3        ARMORED PERSONNEL CARRIERS            116

7.2.3.1    Significant investments in defense armored vehicles to drive growth    116

7.2.3.2    Use case: Stryker APC in NATO Peacekeeping Missions in Eastern Europe by General Dynamics Land Systems     116

7.2.4        ARMORED AMPHIBIOUS VEHICLES         116

7.2.4.1    Innovations in propulsion technology and hull design to drive growth    116

7.2.4.2    Use case: USMC AAV-7 deployment in Pacific Amphibious Assault Drills by BAE Systems           117

7.2.5        MINE-RESISTANT AMBUSH-PROTECTED VEHICLES                 117

7.2.5.1    Need for protection against rocket-propelled grenades and small arms to drive growth            117

7.2.5.2    Use case: Oshkosh M-ATV in US Special Forces Operations in Africa by Oshkosh Defense 117

7.2.6        LIGHT ARMORED VEHICLES       118

7.2.6.1    Need for rapid response in fluid combat situations to drive growth                 118

7.2.6.2    Use case: Canadian LAV III in UN Peacekeeping Operations in Mali by General Dynamics Land Systems – Canada       118

7.2.7        SELF-PROPELLED HOWITZERS 118

7.2.7.1    Advanced targeting technologies and powerful munitions to drive growth    118

7.2.7.2    Use case: K9 Thunder self-propelled howitzer in South Korean artillery deterrence along DMZ by Hanwha Aerospace 119

7.2.8        AIR DEFENSE VEHICLES                119

7.2.8.1    Trend toward fully automated air defense systems to drive growth                 119

7.2.8.2    Use case: Pantsir-S1 Air Defense Vehicle in Syrian Theater by KBP Instrument Design Bureau        119

7.2.9        ARMORED MORTAR CARRIERS  120

7.2.9.1    Ability to provide increased firepower and mobility to drive growth    120

7.2.9.2    Use case: M1129 Stryker Mortar Carrier in US mechanized infantry units by General Dynamics Land Systems        120

7.3           COMBAT SUPPORT VEHICLES   120

7.3.1        ARMORED SUPPLY TRUCKS        121

7.3.1.1    Focus on ensuring secure delivery of vital supplies to frontline units to drive growth            121

7.3.1.2    Armored fuel trucks             121

7.3.1.3    Armored ammunition replenishment vehicles 121

7.3.1.4    Armored ambulances           121

7.3.2        ARMORED COMMAND & CONTROL VEHICLES  121

7.3.2.1    Seamless integration with existing military systems to drive growth    121

7.3.2.2    Use case: Boxer Command Variant used by Ukrainian Forces for tactical control near Bakhmut by ARTEC        121

7.3.3        REPAIR & RECOVERY VEHICLES 122

7.3.3.1    Need for towing or repairing combat vehicles on battlefields to drive growth          122

7.3.3.2    Use case: M88A2 Hercules Deployed by US Forces in Iraq for armored vehicle recovery by BAE Systems       122

7.3.4        BRIDGE-LAYING TANKS                122

7.3.4.1    Operational readiness to drive growth              122

7.3.4.2    Use case: Russian MTU-90 Bridge-laying tank used in river crossings during Donbas offensive by Uralvagonzavod 123

7.3.5        MINE CLEARANCE VEHICLES     123

7.3.5.1    High demand for prevention of mine blasts and other battlefield hazards to drive growth       123

7.3.5.2    Use case: French Aravis SOUVIM 2 used in Sahel region for IED & mine clearance during Operation Barkhane by Nexter Systems                 123

7.4           UNMANNED ARMORED GROUND VEHICLES       124

7.4.1        INCREASING DEMAND FOR AUTONOMIC DECISION-MAKING CAPABILITIES IN COMPLEX REMOTE OPERATIONS TO DRIVE GROWTH               124

7.4.1.1    Use case: Milrem THeMIS used for unmanned CASEVAC, ISR patrols, and remote weapon firing support by Milrem Robotics   124

8               ARMORED VEHICLES MARKET, BY TYPE                125

8.1           INTRODUCTION              126

8.2           ELECTRIC ARMORED VEHICLES                127

8.2.1        EMPHASIS ON REDUCING DEPENDENCE ON FOSSIL FUELS TO DRIVE GROWTH          127

8.3           CONVENTIONAL ARMORED VEHICLES 127

8.3.1        HIGHER POWER OUTPUT AND PERFORMANCE TO DRIVE GROWTH               127

9               ARMORED VEHICLES MARKET, BY MOBILITY     128

9.1           INTRODUCTION              129

9.2           WHEELED           130

9.2.1        NEED FOR IMPROVED MOBILITY DURING CRITICAL COMBAT OPERATIONS TO DRIVE GROWTH       130

9.2.2        4X4          131

9.2.3        6X6          131

9.2.4        8X8          131

9.2.5        10X10     131

9.2.6        12X12     131

9.3           TRACKED            132

9.3.1        ONGOING MILITARY MODERNIZATION EFFORTS TO DRIVE GROWTH               132

10            ARMORED VEHICLES MARKET, BY MODE OF OPERATION       133

10.1         INTRODUCTION              134

10.2         MANNED             135

10.2.1      NEED FOR ROBUST LAND COMBAT PLATFORMS TO DRIVE GROWTH               135

10.3         UNMANNED       135

10.3.1      DEVELOPMENT OF AUTONOMOUS TRUCKS FOR COMBAT SUPPORT TO DRIVE GROWTH               135

11            ARMORED VEHICLES MARKET, BY SYSTEM          137

11.1         INTRODUCTION              138

11.2         ENGINES              140

11.2.1      USE CASE: MTU 883 DIESEL ENGINE POWERING LEOPARD 2A7+ MBTS FOR ENHANCED POWER-TO-WEIGHT IN URBAN WARFARE             140

11.2.2      DIESEL ENGINES              140

11.2.3      TURBINE ENGINES          140

11.3         DRIVE SYSTEMS                141

11.3.1      USE CASE: HYBRID-ELECTRIC DRIVE IN RCV-LIGHT PROTOTYPE BY US ARMY FOR REDUCED THERMAL SIGNATURE AND SILENT MOBILITY 141

11.3.2      POWER TRANSMISSION DRIVES                141

11.3.3      SUSPENSION & BRAKING SYSTEMS          141

11.3.4      TRACKS & WHEELS          141

11.4         BALLISTIC ARMORS        142

11.4.1      USE CASE: COMPOSITE MODULAR ARMOR IN CV90 MKIV PROVIDING ADAPTIVE PROTECTION IN NATO OPERATIONS IN ESTONIA            142

11.4.2      COMPOSITE ARMORS    142

11.4.3      EXPLOSIVE REACTIVE ARMORS 142

11.4.4      ELECTRIC ARMORS         142

11.4.5      HOMOGENOUS ARMORS              143

11.4.6      DEPLETED URANIUM ARMORS 143

11.4.7      ADD-ON ARMORS            143

11.5         TURRET DRIVES               143

11.5.1      USE CASE: ALL-ELECTRIC TURRET DRIVE BY CURTISS-WRIGHT ON BOXER RCT 30 BY CURTISS-WRIGHT             143

11.6         AMMUNITION HANDLING SYSTEMS       144

11.7         FIRE CONTROL SYSTEMS             144

11.7.1      USE CASE: IRON VISION FCS ON MERKAVA MK4 BARAK FOR 360° SITUATIONAL AWARENESS IN CLOSED-HATCH MODE BY ELBIT SYSTEMS            144

11.8         ARMAMENTS     144

11.8.1      USE CASE: 30MM XM813 CHAIN GUN ON STRYKER DRAGOON FOR RAPID ENGAGEMENT BY NORTHROP GRUMMAN          144

11.9         COUNTERMEASURE SYSTEMS   145

11.9.1      USE CASE: TROPHY ACTIVE PROTECTION SYSTEM (APS) ON ISRAELI AND US ABRAMS TANKS TO INTERCEPT RPGS AND ATGMS IN GAZA BY RAFAEL ADVANCED DEFENSE SYSTEMS              145

11.10       COMMAND & CONTROL SYSTEMS           145

11.10.1   USE CASE: TACTICAL COMMAND SOFTWARE BY THALES ON ITS SCORPION VEHICLES    145

11.11       POWER SYSTEMS             146

11.11.1   USE CASE: AUXILIARY POWER UNITS (APUS) IN CHALLENGER 3 MBT ENABLING SILENT WATCH OPERATIONS AND ELECTRONIC SUB-SYSTEM SUPPORT           146

11.12       NAVIGATION SYSTEMS 146

11.12.1   USE CASE: INERTIAL NAVIGATION SYSTEM WITH GPS-DENIED CAPABILITY IN RHEINMETALL’S LYNX KF41 FOR MANEUVERING IN JAMMING ENVIRONMENTS BY RHEINMETALL AG           147

11.13       OBSERVATION & DISPLAY SYSTEMS       147

11.13.1   USE CASE: PANORAMIC DISPLAY AND SENSOR FUSION SUITE IN RHEINMETALL’S LYNX KF41 FOR ENHANCED CREW AWARENESS       147

11.14       HULLS/FRAMES                148

11.14.1   USE CASE: MODULAR HULL DESIGN IN PATRIA AMV XP ALLOWING MISSION-SPECIFIC CONFIGURATIONS BY PATRIA GROUP 148

12            ARMORED VEHICLES MARKET, BY POINT OF SALE                 149

12.1         INTRODUCTION              150

12.2         OEM      151

12.3         RETROFIT           151

13            ARMORED VEHICLES MARKET, BY REGION         152

13.1         INTRODUCTION              153

13.2         NORTH AMERICA             154

13.2.1      PESTLE ANALYSIS            154

13.2.2      DEFENSE PROGRAMS: NORTH AMERICA               159

13.2.3      US           160

13.2.3.1  Collaborations and joint ventures between key players to drive growth    160

13.2.4      CANADA               162

13.2.4.1  Military modernization programs to drive growth           162

13.3         EUROPE               164

13.3.1      PESTLE ANALYSIS            164

13.3.2      DEFENSE PROGRAMS: EUROPE 169

13.3.3      UK          170

13.3.3.1  Surge in armored vehicle upgrade programs to drive growth                 170

13.3.4      GERMANY           172

13.3.4.1  Focus on modernizing domestic armored personnel carrier fleets to drive growth      172

13.3.5      FRANCE                174

13.3.5.1  Procurement of new-generation combat vehicles to drive growth                 174

13.3.6      POLAND               176

13.3.6.1  Increase in domestic defense spending to drive growth 176

13.3.7      REST OF EUROPE             178

13.4         ASIA PACIFIC     181

13.4.1      PESTLE ANALYSIS            181

13.4.2      DEFENSE PROGRAMS: ASIA PACIFIC       186

13.4.3      INDIA    186

13.4.3.1  Indigenous manufacturing and cross-border procurement to drive growth          186

13.4.4      JAPAN   189

13.4.4.1  Development of high-end military technologies to drive growth                 189

13.4.5      AUSTRALIA         191

13.4.5.1  Rise in manufacturing of combat fleets to drive growth 191

13.4.6      SOUTH KOREA  193

13.4.6.1  Rising military exports drive market 193

13.4.7      REST OF ASIA PACIFIC   195

13.5         MIDDLE EAST   197

13.5.1      PESTLE ANALYSIS            197

13.5.2      DEFENSE PROGRAMS: MIDDLE EAST      202

13.5.3      GULF COOPERATION COUNCIL (GCC)  202

13.5.3.1  Saudi Arabia          203

13.5.3.1.1                Rising concerns over regional security to drive growth                 203

13.5.3.2  UAE        205

13.5.3.2.1                Significant presence of prominent players to drive growth    205

13.5.4      REST OF MIDDLE EAST 207

13.6         REST OF THE WORLD    209

13.6.1      LATIN AMERICA                212

13.6.1.1  Increasing acquisition of modern armored vehicles to drive growth    212

13.6.2      AFRICA 214

13.6.2.1  Rising demand for unmanned military ground vehicles to drive growth    214

14            COMPETITIVE LANDSCAPE         217

14.1         INTRODUCTION              217

14.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024                 217

14.3         MARKET RANKING ANALYSIS, 2024           219

14.4         MARKET SHARE ANALYSIS, 2024                 220

14.5         REVENUE ANALYSIS, 2021–2024  220

14.6         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 222

14.6.1      STARS   222

14.6.2      EMERGING LEADERS     222

14.6.3      PERVASIVE PLAYERS      223

14.6.4      PARTICIPANTS 223

14.6.5      COMPANY FOOTPRINT 224

14.6.5.1  Company footprint               224

14.6.5.2  Mobility footprint 225

14.6.5.3  Platform footprint                 226

14.6.5.4  Region footprint   227

14.7         COMPANY EVALUATION MATRIX: START-UPS/SMES, 2024        228

14.7.1      PROGRESSIVE COMPANIES         228

14.7.2      RESPONSIVE COMPANIES            228

14.7.3      DYNAMIC COMPANIES  228

14.7.4      STARTING BLOCKS         228

14.7.5      COMPETITIVE BENCHMARKING               230

14.7.5.1  Key start-ups/SMEs             230

14.7.5.2  Competitive benchmarking of key start-ups/SMEs        231

14.8         COMPANY VALUATION AND FINANCIAL METRICS                 232

14.9         BRAND/PRODUCT COMPARISON             233

14.10       COMPETITIVE SCENARIO             233

14.10.1   MARKET EVALUATION FRAMEWORK     234

14.10.2   PRODUCT LAUNCHES   234

14.10.3   DEALS  236

14.10.4   OTHERS                238

15            COMPANY PROFILES      248

15.1         KEY PLAYERS     248

15.1.1      RHEINMETALL AG           248

15.1.1.1  Business overview 248

15.1.1.2  Products/Solutions/Services offered 249

15.1.1.3  Recent developments           251

15.1.1.3.1                Product launches  251

15.1.1.3.2                Deals      251

15.1.1.3.3                Others    252

15.1.1.4  MnM view              253

15.1.1.4.1                Right to win           253

15.1.1.4.2                Strategic choices   253

15.1.1.4.3                Weaknesses and competitive threats 253

15.1.2      GENERAL DYNAMICS CORPORATION    254

15.1.2.1  Business overview 254

15.1.2.2  Products/Solutions/Services offered 255

15.1.2.3  Recent developments           257

15.1.2.3.1                Others    257

15.1.2.4  MnM view              258

15.1.2.4.1                Right to win           258

15.1.2.4.2                Strategic choices   258

15.1.2.4.3                Weaknesses and competitive threats 258

15.1.3      OSHKOSH CORPORATION           259

15.1.3.1  Business overview 259

15.1.3.2  Products/Solutions/Services offered 260

15.1.3.3  Recent developments           261

15.1.3.3.1                Others    261

15.1.3.4  MnM view              263

15.1.3.4.1                Right to win           263

15.1.3.4.2                Strategic choices   263

15.1.3.4.3                Weaknesses and competitive threats 263

15.1.4      BAE SYSTEMS    264

15.1.4.1  Business overview 264

15.1.4.2  Products/Solutions/Services offered 265

15.1.4.3  Recent developments           267

15.1.4.3.1                Others    267

15.1.4.4  MnM view              268

15.1.4.4.1                Right to win           268

15.1.4.4.2                Strategic choices   268

15.1.4.4.3                Weaknesses and competitive threats 268

15.1.5      HANWHA GROUP             269

15.1.5.1  Business overview 269

15.1.5.2  Products/Solutions/Services offered 270

15.1.5.3  Recent developments           270

15.1.5.3.1                Others    270

15.1.5.4  MnM view              271

15.1.5.4.1                Right to win           271

15.1.5.4.2                Strategic choices   272

15.1.5.4.3                Weaknesses and competitive threats 272

15.1.6      NORTHROP GRUMMAN                 273

15.1.6.1  Business overview 273

15.1.6.2  Products/Solutions/Services offered 274

15.1.6.3  Recent developments           275

15.1.6.3.1                Others    275

15.1.7      LOCKHEED MARTIN CORPORATION      276

15.1.7.1  Business overview 276

15.1.7.2  Products/Solutions/Services offered 277

15.1.7.3  Recent developments           278

15.1.7.3.1                Others    278

15.1.8      THALES                279

15.1.8.1  Business overview 279

15.1.8.2  Products/Solutions/Services offered 280

15.1.8.3  Recent developments           280

15.1.8.3.1                Others    280

15.1.9      L3HARRIS TECHNOLOGIES, INC.               281

15.1.9.1  Business overview 281

15.1.9.2  Products/Solutions/Services offered 282

15.1.9.3  Recent developments           283

15.1.9.3.1                Deals      283

15.1.9.3.2                Others    283

15.1.10   ST ENGINEERING             284

15.1.10.1                 Business overview 284

15.1.10.2                 Products/Solutions/Services offered 285

15.1.10.3                 Recent developments           286

15.1.10.3.1             Product launches  286

15.1.10.3.2             Deals      286

15.1.11   ELBIT SYSTEMS LTD.     287

15.1.11.1                 Business overview 287

15.1.11.2                 Products/Solutions/Services offered 288

15.1.11.3                 Recent developments           289

15.1.11.3.1             Others    289

15.1.12   MITSUBISHI HEAVY INDUSTRIES, LTD.  290

15.1.12.1                 Business overview 290

15.1.12.2                 Products/Solutions/Services offered 291

15.1.12.3                 Recent developments           291

15.1.12.3.1             Others    291

15.1.13   HYUNDAI ROTEM COMPANY     292

15.1.13.1                 Business overview 292

15.1.13.2                 Products/Solutions/Services offered 293

15.1.13.3                 Recent developments           294

15.1.13.3.1             Product launches  294

15.1.13.3.2             Others    294

15.1.14   TEXTRON INC.  295

15.1.14.1                 Business overview 295

15.1.14.2                 Products/Solutions/Services offered 296

15.1.15   OTOKAR OTOMOTIV VE SAVUNMA SANAYI        297

15.1.15.1                 Business overview 297

15.1.15.2                 Products/Solutions/Services offered 298

15.1.15.3                 Recent developments           299

15.1.15.3.1             Others    299

15.1.16   DENEL SOC LTD.              300

15.1.16.1                 Business overview 300

15.1.16.2                 Products/Solutions/Services offered 300

15.1.16.3                 Recent developments           301

15.1.16.3.1             Deals      301

15.1.17   KNDS    302

15.1.17.1                 Business overview 302

15.1.17.2                 Products/Solutions/Services offered 302

15.1.17.3                 Recent developments           304

15.1.17.3.1             Deals      304

15.1.17.3.2             Others    305

15.1.18   FNSS      306

15.1.18.1                 Business overview 306

15.1.18.2                 Products/Solutions/Services offered 306

15.1.18.3                 Recent developments           308

15.1.18.3.1             Product launches  308

15.1.18.3.2             Others    308

15.1.19   CHINA NORTH INDUSTRIES CORPORATION (NORINCO)                 309

15.1.19.1                 Business overview 309

15.1.19.2                 Products/Solutions/Services offered 309

15.1.19.3                 Recent developments           310

15.1.19.3.1             Product launches  310

15.1.20   RTX        311

15.1.20.1                 Business overview 311

15.1.20.2                 Products/Solutions/Services offered 312

15.1.20.3                 Recent developments           313

15.1.20.3.1             Others    313

15.1.21   IVECO DEFENCE VEHICLES         314

15.1.21.1                 Business overview 314

15.1.21.2                 Products/Solutions/Services offered 314

15.1.21.3                 Recent developments           315

15.1.21.3.1             Product launches  315

15.1.21.3.2             Deals      316

15.1.21.3.3             Others    316

15.1.22   PARAMOUNT GROUP    318

15.1.22.1                 Business overview 318

15.1.22.2                 Products/Solutions/Services offered 318

15.1.22.3                 Recent developments           319

15.1.22.3.1             Product launches  319

15.1.22.3.2             Deals      319

15.1.22.3.3             Others    319

15.2         OTHER PLAYERS              320

15.2.1      ARQUUS               320

15.2.2      TATRA TRUCKS A.S.        321

15.2.3      KALYANI STRATEGIC SYSTEMS LTD.      322

15.2.4      AM GENERAL     323

15.2.5      MAHINDRA EMIRATES VEHICLE ARMOURING FZ LLC                 324

15.2.6      TATA ADVANCED SYSTEMS LIMITED     325

15.2.7      INKAS ARMORED VEHICLE MANUFACTURING   326

15.2.8      STREIT GROUP 327

16            APPENDIX           328

16.1         DISCUSSION GUIDE        328

16.2         ANNEXURE A: DEFENSE PROGRAM MAPPING     331

16.3         ANNEXURE B: COMPANY LISTED              334

16.4         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                335

16.5         CUSTOMIZATION OPTIONS        337

16.6         RELATED REPORTS         337

16.7         AUTHOR DETAILS           338

LIST OF TABLES

TABLE 1                INCLUSIONS AND EXCLUSIONS 34

TABLE 2                USD EXCHANGE RATES 37

TABLE 3                ROLE OF COMPANIES IN ECOSYSTEM    63

TABLE 4                ACTIVE FLEET VOLUME OF MAIN BATTLE TANKS, BY COUNTRY,

2020–2030 (UNITS)            64

TABLE 5                ACTIVE FLEET VOLUME OF COMBAT SUPPORT VEHICLES, BY COUNTRY,

2020–2030 (UNITS)            64

TABLE 6                ACTIVE FLEET VOLUME OF COMBAT VEHICLES, BY COUNTRY, 2020–2030 (UNITS)              65

TABLE 7                INDICATIVE PRICING ANALYSIS OF ARMORED VEHICLES, BY PLATFORM, 2024 66

TABLE 8                AVERAGE SELLING PRICE RANGE OF MAIN BATTLE TANKS, 2024 (USD MILLION)     66

TABLE 9                AVERAGE SELLING PRICE RANGE OF INFANTRY FIGHTING VEHICLES,

2024 (USD MILLION)       67

TABLE 10              AVERAGE SELLING PRICE RANGE OF ARMORED PERSONNEL CARRIERS,

2024 (USD MILLION)       68

TABLE 11              AVERAGE SELLING PRICE RANGE OF MINE-RESISTANT AMBUSH- PROTECTED VEHICLES, 2024 (USD MILLION)            68

TABLE 12              AVERAGE SELLING PRICE RANGE OF LIGHT-PROTECTED VEHICLES,

2024 (USD MILLION)       69

TABLE 13              AVERAGE SELLING PRICE RANGE OF SELF-PROPELLED HOWITZERS,

2024 (USD MILLION)       69

TABLE 14              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF ARMORED VEHICLES,

BY MODE OF OPERATION (%)   73

TABLE 15              KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM            73

TABLE 16              KEY CONFERENCES AND EVENTS, 2024–2025                 76

TABLE 17              EXPORT DATA, BY REGION, 2021–2024    77

TABLE 18              IMPORT DATA, BY REGION, 2021–2024    78

TABLE 19              TOTAL COST OF OWNERSHIP OF MAIN BATTLE TANKS  83

TABLE 20              BUSINESS MODELS OF ARMORED VEHICLES MARKET               85

TABLE 21              NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 86

TABLE 22              EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS           87

TABLE 23              ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 87

TABLE 24              MIDDLE EAST: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 88

TABLE 25              REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 88

TABLE 26              VENTURE CAPITAL FOR UNMANNED GROUND VEHICLES,

2021–2023 (USD MILLION)            89

TABLE 27              US ADJUSTED RECIPROCAL TARIFF RATES                 90

TABLE 28              KEY PRODUCT-RELATED TARIFF EFFECTIVE FOR ARMORED VEHICLES MARKET         91

TABLE 29              EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKETS

DUE TO TARIFF IMPACT               91

TABLE 30              PATENT ANALYSIS          110

TABLE 31              ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)            113

TABLE 32              ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)            113

TABLE 33              ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)       126

TABLE 34              ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)       126

TABLE 35              ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)            129

TABLE 36              ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)            129

TABLE 37              ARMORED VEHICLES MARKET, BY WHEELED MOBILITY,

2021–2024 (USD MILLION)            130

TABLE 38              ARMORED VEHICLES MARKET, BY WHEELED MOBILITY,

2025–2030 (USD MILLION)            130

TABLE 39              ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            134

TABLE 40              ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            134

TABLE 41              TYPES OF UNMANNED ARMORED VEHICLES                 135

TABLE 42              ARMORED VEHICLES MARKET, BY SYSTEM, 2021–2024 (USD MILLION)            139

TABLE 43              ARMORED VEHICLES MARKET, BY SYSTEM, 2025–2030 (USD MILLION)            139

TABLE 44              ARMORED VEHICLES MARKET, BY POINT OF SALE, 2021–2024 (USD MILLION)                150

TABLE 45              ARMORED VEHICLES MARKET, BY POINT OF SALE, 2025–2030 (USD MILLION)                150

TABLE 46              ARMORED VEHICLES MARKET, BY REGION, 2021–2024 (USD MILLION)            153

TABLE 47              ARMORED VEHICLES MARKET, BY REGION, 2025–2030 (USD MILLION)            154

TABLE 48              NORTH AMERICA: ARMORED VEHICLES MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            156

TABLE 49              NORTH AMERICA: ARMORED VEHICLES MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            156

TABLE 50              NORTH AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            157

TABLE 51              NORTH AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            157

TABLE 52              NORTH AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            157

TABLE 53              NORTH AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            157

TABLE 54              NORTH AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            158

TABLE 55              NORTH AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            158

TABLE 56              NORTH AMERICA: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            158

TABLE 57              NORTH AMERICA: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            158

TABLE 58              US: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   160

TABLE 59              US: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   160

TABLE 60              US: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     161

TABLE 61              US: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     161

TABLE 62              US: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            161

TABLE 63              US: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            161

TABLE 64              US: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            161

TABLE 65              US: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            162

TABLE 66              CANADA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            162

TABLE 67              CANADA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            162

TABLE 68              CANADA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     163

TABLE 69              CANADA: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     163

TABLE 70              CANADA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            163

TABLE 71              CANADA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            163

TABLE 72              CANADA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                163

TABLE 73              CANADA: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                164

TABLE 74              EUROPE: ARMORED VEHICLES MARKET, BY COUNTRY, 2021–2024 (USD MILLION)     166

TABLE 75              EUROPE: ARMORED VEHICLES MARKET, BY COUNTRY, 2025–2030 (USD MILLION)     167

TABLE 76              EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            167

TABLE 77              EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            167

TABLE 78              EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     167

TABLE 79              EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     168

TABLE 80              EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            168

TABLE 81              EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            168

TABLE 82              EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                168

TABLE 83              EUROPE: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                168

TABLE 84              UK: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   170

TABLE 85              UK: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   171

TABLE 86              UK: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     171

TABLE 87              UK: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     171

TABLE 88              UK: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            171

TABLE 89              UK: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            171

TABLE 90              UK: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            172

TABLE 91              UK: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            172

TABLE 92              GERMANY: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            172

TABLE 93              GERMANY: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            173

TABLE 94              GERMANY: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            173

TABLE 95              GERMANY: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            173

TABLE 96              GERMANY: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            173

TABLE 97              GERMANY: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            174

TABLE 98              GERMANY: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                174

TABLE 99              GERMANY: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                174

TABLE 100            FRANCE: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            175

TABLE 101            FRANCE: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            175

TABLE 102            FRANCE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     175

TABLE 103            FRANCE: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     175

TABLE 104            FRANCE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            175

TABLE 105            FRANCE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            176

TABLE 106            FRANCE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                176

TABLE 107            FRANCE: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                176

TABLE 108            POLAND: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            177

TABLE 109            POLAND: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            177

TABLE 110            POLAND: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     177

TABLE 111            POLAND: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     177

TABLE 112            POLAND: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            178

TABLE 113            POLAND: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            178

TABLE 114            POLAND: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                178

TABLE 115            POLAND: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                178

TABLE 116            REST OF EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            179

TABLE 117            REST OF EUROPE: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            179

TABLE 118            REST OF EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            179

TABLE 119            REST OF EUROPE: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            179

TABLE 120            REST OF EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            180

TABLE 121            REST OF EUROPE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            180

TABLE 122            REST OF EUROPE: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            180

TABLE 123            REST OF EUROPE: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            180

TABLE 124            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            183

TABLE 125            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            184

TABLE 126            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            184

TABLE 127            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            184

TABLE 128            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            184

TABLE 129            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            185

TABLE 130            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            185

TABLE 131            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            185

TABLE 132            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                185

TABLE 133            ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                185

TABLE 134            INDIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   187

TABLE 135            INDIA: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   187

TABLE 136            INDIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     187

TABLE 137            INDIA: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     188

TABLE 138            INDIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            188

TABLE 139            INDIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            188

TABLE 140            INDIA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            188

TABLE 141            INDIA: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            188

TABLE 142            JAPAN: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   189

TABLE 143            JAPAN: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   189

TABLE 144            JAPAN: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     189

TABLE 145            JAPAN: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     190

TABLE 146            JAPAN: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            190

TABLE 147            JAPAN: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            190

TABLE 148            JAPAN: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            190

TABLE 149            JAPAN: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            190

TABLE 150            AUSTRALIA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            191

TABLE 151            AUSTRALIA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            191

TABLE 152            AUSTRALIA: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            191

TABLE 153            AUSTRALIA: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            192

TABLE 154            AUSTRALIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            192

TABLE 155            AUSTRALIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            192

TABLE 156            AUSTRALIA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)                192

TABLE 157            AUSTRALIA: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)                192

TABLE 158            SOUTH KOREA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            193

TABLE 159            SOUTH KOREA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            193

TABLE 160            SOUTH KOREA: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            194

TABLE 161            SOUTH KOREA: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            194

TABLE 162            SOUTH KOREA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            194

TABLE 163            SOUTH KOREA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            194

TABLE 164            SOUTH KOREA: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            194

TABLE 165            SOUTH KOREA: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            195

TABLE 166            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            195

TABLE 167            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            195

TABLE 168            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            196

TABLE 169            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            196

TABLE 170            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2024 (USD MILLION)                 196

TABLE 171            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2025–2030 (USD MILLION)                 196

TABLE 172            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            197

TABLE 173            REST OF ASIA PACIFIC: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            197

TABLE 174            MIDDLE EAST: ARMORED VEHICLES MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            199

TABLE 175            MIDDLE EAST: ARMORED VEHICLES MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            200

TABLE 176            MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            200

TABLE 177            MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            200

TABLE 178            MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            200

TABLE 179            MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            201

TABLE 180            MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            201

TABLE 181            MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            201

TABLE 182            MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            201

TABLE 183            MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            201

TABLE 184            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            203

TABLE 185            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            203

TABLE 186            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            203

TABLE 187            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            204

TABLE 188            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            204

TABLE 189            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            204

TABLE 190            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            204

TABLE 191            SAUDI ARABIA: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            204

TABLE 192            UAE: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   205

TABLE 193            UAE: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   205

TABLE 194            UAE: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     205

TABLE 195            UAE: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     206

TABLE 196            UAE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            206

TABLE 197            UAE: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            206

TABLE 198            UAE: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            206

TABLE 199            UAE: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            206

TABLE 200            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            207

TABLE 201            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            207

TABLE 202            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            207

TABLE 203            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            208

TABLE 204            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2024 (USD MILLION)                 208

TABLE 205            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2025–2030 (USD MILLION)                 208

TABLE 206            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            208

TABLE 207            REST OF MIDDLE EAST: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            209

TABLE 208            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            210

TABLE 209            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            210

TABLE 210            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            210

TABLE 211            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            210

TABLE 212            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            211

TABLE 213            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            211

TABLE 214            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2021–2024 (USD MILLION)                 211

TABLE 215            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2025–2030 (USD MILLION)                 211

TABLE 216            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            212

TABLE 217            REST OF THE WORLD: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            212

TABLE 218            LATIN AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM,

2021–2024 (USD MILLION)            212

TABLE 219            LATIN AMERICA: ARMORED VEHICLES MARKET, BY PLATFORM,

2025–2030 (USD MILLION)            213

TABLE 220            LATIN AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY,

2021–2024 (USD MILLION)            213

TABLE 221            LATIN AMERICA: ARMORED VEHICLES MARKET, BY MOBILITY,

2025–2030 (USD MILLION)            213

TABLE 222            LATIN AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            213

TABLE 223            LATIN AMERICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            214

TABLE 224            LATIN AMERICA: ARMORED VEHICLES MARKET, BY TYPE,

2021–2024 (USD MILLION)            214

TABLE 225            LATIN AMERICA: ARMORED VEHICLES MARKET, BY TYPE,

2025–2030 (USD MILLION)            214

TABLE 226            AFRICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2021–2024 (USD MILLION)   215

TABLE 227            AFRICA: ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030 (USD MILLION)   215

TABLE 228            AFRICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2021–2024 (USD MILLION)     215

TABLE 229            AFRICA: ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030 (USD MILLION)     215

TABLE 230            AFRICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2021–2024 (USD MILLION)            215

TABLE 231            AFRICA: ARMORED VEHICLES MARKET, BY MODE OF OPERATION,

2025–2030 (USD MILLION)            216

TABLE 232          AFRICA: ARMORED VEHICLES MARKET, BY TYPE, 2021–2024 (USD MILLION)            216

TABLE 233          AFRICA: ARMORED VEHICLES MARKET, BY TYPE, 2025–2030 (USD MILLION)            216

TABLE 234            KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024        217

TABLE 235            ARMORED VEHICLES MARKET: DEGREE OF COMPETITION 221

TABLE 236            ARMORED VEHICLES MARKET: MOBILITY FOOTPRINT       225

TABLE 237            ARMORED VEHICLES MARKET: PLATFORM FOOTPRINT       226

TABLE 238            ARMORED VEHICLES MARKET: REGION FOOTPRINT       227

TABLE 239            ARMORED VEHICLES MARKET: KEY START-UPS/SMES           230

TABLE 240            ARMORED VEHICLES MARKET: COMPETITIVE BENCHMARKING OF

KEY START-UPS/SMES   231

TABLE 241            ARMORED VEHICLES MARKET: PRODUCT LAUNCHES, JANUARY 2020–MAY 2025      234

TABLE 242            ARMORED VEHICLES MARKET: DEALS, JANUARY 2020–MAY 2025               236

TABLE 243            ARMORED VEHICLES MARKET: OTHERS, JANUARY 2020–MAY 2025               238

TABLE 244            RHEINMETALL AG: COMPANY OVERVIEW                 248

TABLE 245            RHEINMETALL AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED    249

TABLE 246            RHEINMETALL AG: PRODUCT LAUNCHES                 251

TABLE 247            RHEINMETALL AG: DEALS           251

TABLE 248            RHEINMETALL AG: OTHERS       252

TABLE 249            GENERAL DYNAMICS CORPORATION: COMPANY OVERVIEW   254

TABLE 250            GENERAL DYNAMICS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    255

TABLE 251            GENERAL DYNAMICS CORPORATION: OTHERS                 257

TABLE 252            OSHKOSH CORPORATION: COMPANY OVERVIEW          259

TABLE 253            OSHKOSH CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    260

TABLE 254            OSHKOSH CORPORATION: OTHERS        261

TABLE 255            BAE SYSTEMS: COMPANY OVERVIEW     264

TABLE 256            BAE SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    265

TABLE 257            BAE SYSTEMS: OTHERS 267

TABLE 258            HANWHA GROUP: COMPANY OVERVIEW                 269

TABLE 259            HANWHA GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    270

TABLE 260            HANWHA GROUP: OTHERS         270

TABLE 261            NORTHROP GRUMMAN: COMPANY OVERVIEW                 273

TABLE 262            NORTHROP GRUMMAN: PRODUCTS/SOLUTIONS/SERVICES OFFERED    274

TABLE 263            NORTHROP GRUMMAN: OTHERS             275

TABLE 264            LOCKHEED MARTIN CORPORATION: COMPANY OVERVIEW          276

TABLE 265            LOCKHEED MARTIN CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    277

TABLE 266            LOCKHEED MARTIN CORPORATION: OTHERS                 278

TABLE 267            THALES: COMPANY OVERVIEW 279

TABLE 268            THALES: PRODUCTS/SOLUTIONS/SERVICES OFFERED             280

TABLE 269            THALES: OTHERS             280

TABLE 270            L3HARRIS TECHNOLOGIES, INC.: COMPANY OVERVIEW          281

TABLE 271            L3HARRIS TECHNOLOGIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    282

TABLE 272            L3HARRIS TECHNOLOGIES, INC.: DEALS                 283

TABLE 273            L3HARRIS TECHNOLOGIES, INC.: OTHERS                 283

TABLE 274            ST ENGINEERING: COMPANY OVERVIEW                 284

TABLE 275            ST ENGINEERING: PRODUCTS/SOLUTIONS/SERVICES OFFERED    285

TABLE 276            ST ENGINEERING: PRODUCT LAUNCHES                 286

TABLE 277            ST ENGINEERING: DEALS             286

TABLE 278            ELBIT SYSTEMS LTD.: COMPANY OVERVIEW                 287

TABLE 279            ELBIT SYSTEMS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    288

TABLE 280            ELBIT SYSTEMS LTD.: OTHERS  289

TABLE 281            MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW   290

TABLE 282            MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/

SERVICES OFFERED        291

TABLE 283            MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS                 291

TABLE 284            HYUNDAI ROTEM COMPANY: COMPANY OVERVIEW          292

TABLE 285            HYUNDAI ROTEM COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED    293

TABLE 286            HYUNDAI ROTEM COMPANY: PRODUCT LAUNCHES          294

TABLE 287            HYUNDAI ROTEM COMPANY: OTHERS  294

TABLE 288            TEXTRON INC.: COMPANY OVERVIEW   295

TABLE 289            TEXTRON INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    296

TABLE 290            OTOKAR OTOMOTIV VE SAVUNMA SANAYI: COMPANY OVERVIEW   297

TABLE 291            OTOKAR OTOMOTIV VE SAVUNMA SANAYI: PRODUCTS/SOLUTIONS/

SERVICES OFFERED        298

TABLE 292            OTOKAR OTOMOTIV VE SAVUNMA SANAYI: OTHERS                299

TABLE 293            DENEL SOC LTD.: COMPANY OVERVIEW                 300

TABLE 294            DENEL SOC LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    300

TABLE 295            DENEL SOC LTD.: DEALS              301

TABLE 296            KNDS: COMPANY OVERVIEW     302

TABLE 297            KNDS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             302

TABLE 298            KNDS: DEALS     304

TABLE 299            KNDS: OTHERS 305

TABLE 300            FNSS: COMPANY OVERVIEW       306

TABLE 301            FNSS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             306

TABLE 302            FNSS: PRODUCT LAUNCHES       308

TABLE 303            FNSS: OTHERS   308

TABLE 304            CHINA NORTH INDUSTRIES CORPORATION (NORINCO): COMPANY OVERVIEW         309

TABLE 305            CHINA NORTH INDUSTRIES CORPORATION (NORINCO): PRODUCTS/SOLUTIONS/SERVICES OFFERED                 309

TABLE 306            CHINA NORTH INDUSTRIES CORPORATION (NORINCO): PRODUCT LAUNCHES         310

TABLE 307            RTX: COMPANY OVERVIEW         311

TABLE 308            RTX: PRODUCTS/SOLUTIONS/SERVICES OFFERED             312

TABLE 309            RTX: OTHERS     313

TABLE 310            IVECO DEFENCE VEHICLES: COMPANY OVERVIEW          314

TABLE 311            IVECO DEFENCE VEHICLES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    314

TABLE 312            IVECO DEFENCE VEHICLES: PRODUCT LAUNCHES          315

TABLE 313            IVECO DEFENCE VEHICLES: DEALS         316

TABLE 314            IVECO DEFENCE VEHICLES: OTHERS      316

TABLE 315            PARAMOUNT GROUP: COMPANY OVERVIEW                 318

TABLE 316            PARAMOUNT GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    318

TABLE 317            PARAMOUNT GROUP: PRODUCT LAUNCHES                 319

TABLE 318            PARAMOUNT GROUP: DEALS    319

TABLE 319            PARAMOUNT GROUP: OTHERS 319

TABLE 320            ARQUUS: COMPANY OVERVIEW                320

TABLE 321            TATRA TRUCKS A.S.: COMPANY OVERVIEW                 321

TABLE 322            KALYANI STRATEGIC SYSTEMS LTD.: COMPANY OVERVIEW          322

TABLE 323            AM GENERAL: COMPANY OVERVIEW     323

TABLE 324            MAHINDRA EMIRATES VEHICLE ARMOURING FZ LLC: COMPANY OVERVIEW   324

TABLE 325            TATA ADVANCED SYSTEMS LIMITED: COMPANY OVERVIEW   325

TABLE 326            INKAS ARMORED VEHICLE MANUFACTURING: COMPANY OVERVIEW   326

TABLE 327            STREIT GROUP: COMPANY OVERVIEW  327

LIST OF FIGURES

FIGURE 1              ARMORED VEHICLES MARKET SEGMENTATION                 36

FIGURE 2              REPORT PROCESS FLOW              39

FIGURE 3              RESEARCH DESIGN         40

FIGURE 4              BOTTOM-UP APPROACH              44

FIGURE 5              TOP-DOWN APPROACH                45

FIGURE 6              DATA TRIANGULATION                46

FIGURE 7              COMBAT VEHICLES TO BE LARGEST SEGMENT DURING FORECAST PERIOD       48

FIGURE 8              WHEELED SEGMENT TO HOLD LARGER MARKET SHARE DURING

FORECAST PERIOD         49

FIGURE 9              UNMANNED TO BE FASTER-GROWING SEGMENT DURING FORECAST PERIOD 49

FIGURE 10            ELECTRIC ARMORED VEHICLES TO EXHIBIT FASTER GROWTH

DURING FORECAST PERIOD       50

FIGURE 11            EUROPE TO BE LARGEST MARKET FOR ARMORED VEHICLES

DURING FORECAST PERIOD       51

FIGURE 12            NEED FOR BORDER SECURITY AND MARITIME PATROLLING TO DRIVE GROWTH           52

FIGURE 13            COMBAT VEHICLES TO SECURE LEADING MARKET SHARE

DURING FORECAST PERIOD       53

FIGURE 14            WHEELED SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       53

FIGURE 15            MANNED SEGMENT TO ACQUIRE MAXIMUM MARKET SHARE IN 2029 54

FIGURE 16            CONVENTIONAL ARMORED VEHICLES TO SURPASS ELECTRIC

ARMORED VEHICLES DURING FORECAST PERIOD           54

FIGURE 17            ARMORED VEHICLES MARKET: DRIVERS, RESTRAINTS,

OPPORTUNITIES, AND CHALLENGES     55

FIGURE 18            TOP 10 DEFENSE SPENDERS, 2020–2030  57

FIGURE 19            TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES           61

FIGURE 20            ECOSYSTEM ANALYSIS  62

FIGURE 21            INDICATIVE PRICING ANALYSIS OF ARMORED VEHICLES, BY PLATFORM, 2024 66

FIGURE 22            VALUE CHAIN ANALYSIS               70

FIGURE 23            EVOLUTION OF KEY TECHNOLOGIES    71

FIGURE 24            EMERGING TRENDS RELATED TO ARMORED VEHICLES            72

FIGURE 25            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF

ARMORED VEHICLES, BY MODE OF OPERATION               72

FIGURE 26            KEY BUYING CRITERIA FOR ARMORED VEHICLES, BY PLATFORM            73

FIGURE 27            EXPORT DATA, BY COUNTRY, 2021–2024                 77

FIGURE 28            IMPORT DATA, BY REGION, 2020–2022    78

FIGURE 29            BILL OF MATERIALS FOR ARMORED VEHICLES                 80

FIGURE 30            BILL OF MATERIALS FOR MAIN BATTLE TANKS                 80

FIGURE 31            BILL OF MATERIALS FOR ARMORED PERSONNEL CARRIERS  81

FIGURE 32            BILL OF MATERIALS FOR INFANTRY FIGHTING VEHICLES            81

FIGURE 33            TOTAL COST OF OWNERSHIP OF ARMORED VEHICLES            82

FIGURE 34            PERCENTAGE BREAKDOWN OF TOTAL COST OF OWNERSHIP                83

FIGURE 35            BUSINESS MODELS IN ARMORED VEHICLES MARKET               84

FIGURE 36            VENTURE CAPITAL FOR UNMANNED GROUND VEHICLES            89

FIGURE 37            AI LANDSCAPE 96

FIGURE 38            IMPACT OF AI ON DEFENSE INDUSTRY 97

FIGURE 39            ADOPTION OF AI IN MILITARY BY TOP COUNTRIES        98

FIGURE 40            IMPACT OF AI ON ARMORED VEHICLES MARKET               100

FIGURE 41            MACROECONOMIC OUTLOOK FOR NORTH AMERICA, EUROPE,

ASIA PACIFIC, AND MIDDLE EAST            101

FIGURE 42            MACROECONOMIC OUTLOOK FOR REST OF THE WORLD      103

FIGURE 43            TECHNOLOGY TRENDS                104

FIGURE 44            SUPPLY CHAIN ANALYSIS             108

FIGURE 45            PATENT ANALYSIS, 2014–2024     109

FIGURE 46            ARMORED VEHICLES MARKET, BY PLATFORM, 2025–2030              113

FIGURE 47            ARMORED VEHICLES MARKET, BY TYPE, 2025–2030        126

FIGURE 48            ARMORED VEHICLES MARKET, BY MOBILITY, 2025–2030              129

FIGURE 49            ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2025–2030  134

FIGURE 50            ARMORED VEHICLES MARKET, BY SYSTEM, 2025–2030              138

FIGURE 51            ARMORED VEHICLES MARKET, BY MODE OF OPERATION, 2025–2030  150

FIGURE 52            ARMORED VEHICLES MARKET, BY REGION, 2025–2030              153

FIGURE 53            NORTH AMERICA: ARMORED VEHICLES MARKET SNAPSHOT       156

FIGURE 54            EUROPE: ARMORED VEHICLES MARKET SNAPSHOT          166

FIGURE 55            ASIA PACIFIC: ARMORED VEHICLES MARKET SNAPSHOT          183

FIGURE 56            MIDDLE EAST: ARMORED VEHICLES MARKET SNAPSHOT          199

FIGURE 57            REST OF THE WORLD: ARMORED VEHICLES MARKET SNAPSHOT       209

FIGURE 58            MARKET SHARE ANALYSIS OF KEY PLAYERS, 2024        220

FIGURE 59            REVENUE ANALYSIS OF TOP 5 PLAYERS, 2021–2024        220

FIGURE 60            COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024  223

FIGURE 61            ARMORED VEHICLES MARKET: COMPANY FOOTPRINT       224

FIGURE 62            COMPANY EVALUATION MATRIX (START-UPS/SMES), 2023                229

FIGURE 63            FINANCIAL METRICS OF PROMINENT PLAYERS, 2024        232

FIGURE 64            COMPANY VALUATION OF PROMINENT PLAYERS, 2024   232

FIGURE 65            BRAND/PRODUCT COMPARISON             233

FIGURE 66            RHEINMETALL AG: COMPANY SNAPSHOT                 249

FIGURE 67            GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT   255

FIGURE 68            OSHKOSH CORPORATION: COMPANY SNAPSHOT          260

FIGURE 69            BAE SYSTEMS: COMPANY SNAPSHOT     265

FIGURE 70            HANWHA GROUP: COMPANY SNAPSHOT                 269

FIGURE 71            NORTHROP GRUMMAN: COMPANY SNAPSHOT                 274

FIGURE 72            LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT          277

FIGURE 73            THALES: COMPANY SNAPSHOT 279

FIGURE 74            L3HARRIS TECHNOLOGIES, INC.: COMPANY SNAPSHOT          282

FIGURE 75            ST ENGINEERING: COMPANY SNAPSHOT                 284

FIGURE 76            ELBIT SYSTEMS LTD.: COMPANY SNAPSHOT                 288

FIGURE 77            MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT   290

FIGURE 78            HYUNDAI ROTEM COMPANY: COMPANY SNAPSHOT          292

FIGURE 79            TEXTRON INC.: COMPANY SNAPSHOT  295

FIGURE 80            OTOKAR OTOMOTIV VE SAVUNMA SANAYI: COMPANY SNAPSHOT   297

FIGURE 81            RTX: COMPANY SNAPSHOT        312