Army truck

Market for Armored Vehicles Seen as Slow but Steady

A market research forecast from Visiongain predicts slow but steady growth during the next 10 years in the world market for military armored vehicles.

Military armored vehicles are a necessity in modern warfare, and the slow but consistently growing global market for such vehicles points to their importance, according to the latest market report from Visiongain. The report, “Military Armoured Vehicle Market Report 2017-2027,” with its 300 tables, charts, and graphs, makes forecasts on market sizes and spending according to types of products as well as by markets. Military vehicles include main battle tanks (MBTs), medium armored vehicles (MAVs), light protected vehicles (LPVs), and mine-resistant ambush-protected  vehicle (MRAPs).

The global market for military armored vehicles had $14 billion in spending in 2017. Growth is coming as many different nations are attempting to add military strength to their forces; that growth is currently fairly slow, but expected to increase pace with time. The report provides projections over the next decade for spending in 14 leading military markets, as well as the overall global market. It also includes a chapter on the eight major companies leading the field in military armored vehicles.

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