Global military armored vehicles and tanks market is registering strong growth due to rapid economic growth in emerging market such as China and India, rising military tensions, terrorism and political instability in many countries in the Middle-East and Africa. At the same time, uncertain political environment, increasing incidences of terrorism, rising population, and technological advancements is expected to drive the demand for military armored vehicles and tanks.
The market for military armored vehicles and tanks reached a value of nearly REDACTED in 2017 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to nearly REDACTED by 2022.The market for military armored vehicles and tanks is concentrated with a few large players dominating the market. Major players in the market are General Dynamics Corporation, Rheinmetall AG, BAESystems, Oshkosh Corporation and others.
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Armored vehicles accounted for the largest share of the market for military armored vehicles and tanks in 2017 at REDACTED. The highest growth is also projected to come from armored vehicles which is forecasted to grow at a CAGR of REDACTED. Major factors included economic growth, technological advancements and high demand for military equipment from countries.
Asia Pacific is the largest market for military armored vehicles and tanks, accounting for REDACTED of the global market. It was followed by Western Europe, and Eastern Europe. Going forward, Asia Pacific isexpected to witness the fastest growth in the military armored vehicles and tanks market, estimated togrow at a CAGR of REDACTED, followed by North America, which is expected to grow at a CAGR of REDACTED.
The USA is the largest market in terms of value and in the military armored vehicles and tanks market. India and China are forecasted to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
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The market is challenged by restraints such as stringent regulations in defense equipment procurement, high investment costs and increasing investments in cyber wars.”
This research report categorizes the military armored vehicles and tanks market by type. Product type include military armored vehicles and military tanks.
– 99 tables
– An overview of the global market for military armored vehicles and tanks manufacturing
– Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
– Identification of segments with high growth potential and their future applications
– Explanation of major drivers and regional dynamics of the market and current trends within the industry
– Detailed profiles of major vendors in the market, including BAE Systems plc, General Dynamics Corp., Navistar International Corp., Oshkosh Corp. and Rheinmetall AG”
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