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The global Armored Vehicles Upgrade and Retrofit market was valued at US$ 4376.4 million in 2022 and is projected to reach US$ 5030.4 million by 2029, at a CAGR of 2.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
This report aims to provide a comprehensive presentation of the global market for Armored Vehicles Upgrade and Retrofit, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Armored Vehicles Upgrade and Retrofit. This report contains market size and forecasts of Armored Vehicles Upgrade and Retrofit in global, including the following market information:
Global Armored Vehicles Upgrade and Retrofit Market Revenue, 2018-2023, 2024-2030, ($ millions)
Global top five companies in 2022 (%)
The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.
Main Battle Tank Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Armored Vehicles Upgrade and Retrofit include AM General (US), FNSS Savunma Sistemleri (UAE), MKU (Inidia), Oshkosh Defense (US), Sabiex International (Belgium), BAE Systems(UK), Diehl Defence (Germany), Elbit Systems (Israel) and General Dynamics (US), etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Armored Vehicles Upgrade and Retrofit companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Chapter 1: Introduces the definition of Armored Vehicles Upgrade and Retrofit, market overview.
Chapter 2: Global Armored Vehicles Upgrade and Retrofit market size in revenue.
Chapter 3: Detailed analysis of Armored Vehicles Upgrade and Retrofit company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Armored Vehicles Upgrade and Retrofit in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.