Armored Vehicle Repairs Represent Huge Market

Armored Vehicle Repairs Represent Huge Market

Maintaining the performance of armored vehicles around the world is a growing market and a growing opportunity for any number of companies willing to invest in improving and upgrading these vehicles.

Armored vehicles are an important part of the battlefield, and helping fighting forces avoiding injury, but the number of vehicles in use continues to grow, with growing need of maintenance. According to an extensive report prepared by industry analyst Visiongain, “Global Armored Vehicle Upgrade & Retrofit Market 2013-2023,” the global market for —upgrades and retrofits to armored vehicles will be $4.97 billion (USD) over the next decade, based on their 2012 levels. The report cites a need to improve armored vehicle performance in critical areas, such as Afghanistan. Although this monetary amount would seem large, in perspective, the United States is already committed to programs worth more than 45% of the global armored vehicle upgrade market in 2013.

TAGS: Defense
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