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Armored Vehicles Upgrade And Retrofit Market: Global Industry Trends, Share, Size, Growth, Opportunity And Forecast 2022-2027

Published on: Feb 2022 | From USD $2499 | Published By: IMARCGROUP | Number Of Pages: 109

The global armored vehicles upgrade and retrofit market reached a value of US$ 5.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2027, exhibiting a CAGR of 3.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Armored vehicles refer to transportation and land combat vehicles used for various offensive and defensive operations. They are commonly employed for the transportation of military personnel and cargo as well as operating in active combats. These vehicles are often armed with weapons and protected by an armor against shell fragments, bullets and other projectiles.

Several programs are being conducted to upgrade the equipment and systems in old armored vehicles across the globe. Led by the availability of modern and evolved warfare technologies, these programs are driving the growth of the upgrade and retrofit market. Additionally, many countries are expanding their military budgets on account of increasing terrorism and hostile activities. These activities have also resulted in the requirement of frequent repairing and installation of new parts in armored vehicles. Besides, there has been a rise in the demand for low-cost per mile military vehicles. As the processes of upgrade and retrofit are comparatively less expensive than manufacturing a fully equipped vehicle, it has positively influenced the market growth. Moreover, there has been a rise in investments for the advancement of military troop equipment for increased mobility and improved protection of land troops across both developed and emerging economies.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global armored vehicles upgrade and retrofit market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on vehicle type and design.

Breakup by Vehicle Type:

Armored Personnel Carrier (APC)
Infantry Fighting Vehicle (IFV)
Mine-Resistant Ambush Protected (MRAP)
Main Battle Tank (MBT)
Others

Breakup by Design:

Wheeled Armored Vehicles
Tracked Armored Vehicles

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being AM General, FNSS Savunma Sistemleri, MKU, Oshkosh Defense, Sabiex International, BAE Systems, Diehl Defence, Elbit Systems, General Dynamics, Palbam, Rheinmetall, Thales Group, etc. Key Questions Answered in This Report:

How has the global armored vehicles upgrade and retrofit market performed so far and how will it perform in the coming years?
What are the key regional markets in the global armored vehicles upgrade and retrofit industry?
What has been the impact of COVID-19 on the global armored vehicles upgrade and retrofit industry?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the design?
What are the various stages in the value chain of the global armored vehicles upgrade and retrofit industry?
What are the key driving factors and challenges in the global armored vehicles upgrade and retrofit industry?
What is the structure of the global armored vehicles upgrade and retrofit industry and who are the key players?
What is the degree of competition in the global armored vehicles upgrade and retrofit industry?
What are the profit margins in the global armored vehicles upgrade and retrofit industry?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Armored Vehicles Upgrade and Retrofit Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Vehicle Type
5.5 Market Breakup by Design
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Vehicle Type
6.1 Armored Personnel Carrier (APC)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Infantry Fighting Vehicle (IFV)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Mine-Resistant Ambush Protected (MRAP)
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Main Battle Tank (MBT)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Design
7.1 Wheeled Armored Vehicles
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Tracked Armored Vehicles
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
10.1 Overview
10.2 Research and Development
10.3 Parts Manufacturing
10.4 System and Subsystem Assembly
10.5 Final Integration
10.6 Marketing and Sales
10.7 Delivery to End Customers
10.8 Aftermarket Services
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 AM General
13.3.2 FNSS Savunma Sistemleri
13.3.3 MKU
13.3.4 Oshkosh Defense
13.3.5 Sabiex International
13.3.6 BAE Systems
13.3.7 Diehl Defence
13.3.8 Elbit Systems
13.3.9 General Dynamics
13.3.10 Palbam
13.3.11 Rheinmetall
13.3.12 Thales Group

Figure 1: Global: Armored Vehicles Upgrade and Retrofit Market: Major Drivers and Challenges
Figure 2: Global: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Vehicle Type (in %), 2021
Figure 4: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Design (in %), 2021
Figure 5: Global: Armored Vehicles Upgrade and Retrofit Market: Breakup by Region (in %), 2021
Figure 6: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 7: Global: Armored Vehicles Upgrade and Retrofit Industry: SWOT Analysis
Figure 8: Global: Armored Vehicles Upgrade and Retrofit Industry: Value Chain Analysis
Figure 9: Global: Armored Vehicles Upgrade and Retrofit Industry: Porter’s Five Forces Analysis
Figure 10: Global: Armored Vehicles Upgrade and Retrofit (Armored Personnel Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Armored Vehicles Upgrade and Retrofit (Armored Personnel Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Armored Vehicles Upgrade and Retrofit (Infantry Fighting Vehicle) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Armored Vehicles Upgrade and Retrofit (Infantry Fighting Vehicle) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Armored Vehicles Upgrade and Retrofit (Mine-Resistant Ambush Protected) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Armored Vehicles Upgrade and Retrofit (Mine-Resistant Ambush Protected) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Armored Vehicles Upgrade and Retrofit (Main Battle Tank) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Armored Vehicles Upgrade and Retrofit (Main Battle Tank) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Armored Vehicles Upgrade and Retrofit (Other Vehicle Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Armored Vehicles Upgrade and Retrofit (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Armored Vehicles Upgrade and Retrofit (Wheeled Armored Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Armored Vehicles Upgrade and Retrofit (Wheeled Armored Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Armored Vehicles Upgrade and Retrofit (Tracked Armored Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Armored Vehicles Upgrade and Retrofit (Tracked Armored Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Europe: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Europe: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Asia Pacific: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Asia Pacific: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Middle East and Africa: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Middle East and Africa: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Latin America: Armored Vehicles Upgrade and Retrofit Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Latin America: Armored Vehicles Upgrade and Retrofit Market Forecast: Sales Value (in Million US$), 2022-2027

Table 1: Global: Armored Vehicles Upgrade and Retrofit Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 3: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Design (in Million US$), 2022-2027
Table 4: Global: Armored Vehicles Upgrade and Retrofit Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Armored Vehicles Upgrade and Retrofit Market Structure
Table 6: Global: Armored Vehicles Upgrade and Retrofit Market: Key Players

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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