Armored Fighting Vehicles Market

The global Armored Fighting Vehicles market size was valued at US$ 17.89 billion in 2024 and is projected to reach US$ 26.78 billion by 2030, at a CAGR of 6.9% during the forecast period 2024-2030.

The United States Armored Fighting Vehicles market size was valued at US$ 6.23 billion in 2024 and is projected to US$ 9.12 billion by 2030, at a CAGR of 6.5% during the forecast period 2024-2030.

Military vehicles with offensive capabilities and armor protection.

The global market is growing steadily, driven by defense modernization programs. In 2023, total production reached 16,000 units, with tracked vehicles accounting for 55% of demand. The wheeled vehicle segment is growing at 7.5% annually. The market saw a 28% increase in demand for active protection systems in 2023. Heavy vehicles dominate with a 60% market share, while light vehicles are growing at 8% annually. North America leads with a 42% market share, while Asia Pacific is the fastest-growing region at 7.8% CAGR. The industry is focusing on developing advanced armor solutions, with a 32% growth in R&D investments.

Report Overview

An armoured fighting vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities. AFVs can be wheeled or tracked. Main battle tanks, armoured cars, armoured self-propelled guns, and armoured personnel carriers are all examples of AFVs.

Armored Fighting Vehicles Market provides a deep insight into the global Armored Fighting Vehicles market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Armored Fighting Vehicles Market, Armored Fighting Vehicles Market introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, Armored Fighting Vehicles Market is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Armored Fighting Vehicles market in any manner.

Global Armored Fighting Vehicles Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

• General Dynamics Corporation (US)
• BAE Systems(UK)
• Textron Inc(US)
• Oshkosh Corporation (US)
• Elbit Systems Ltd. (Israel)
• Thales Group (France)
• Lockheed Martin (US)
• Rheinmetall AG (Germany)
• Denel Land Systems (South Africa)
• Sabiex International (Belgium)
• Diehl Defense (Germany)
• Including or Excluding key companies relevant to your analysis.

Market Segmentation (by Type)

• APC
• IFV
• MRAP
• MBT
• Other Types

Market Segmentation (by Application)

• Military
• Commercial

Geographic Segmentation

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Armored Fighting Vehicles Market
• Overview of the regional outlook of the Armored Fighting Vehicles Market:

Key Reasons to Buy this Report:

• Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
• This enables you to anticipate market changes to remain ahead of your competitors
• You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
• The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter