Dublin, June 26, 2025 (GLOBE NEWSWIRE) -- The "Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Ground Vehicles), Mobility (Wheeled, Tracked), Propulsion (Conventional, Electric), System, Operation Mode, Point of Sale and Region - Global Forecast to 2030" has been added to ResearchAndMarkets.com's offering.
The armored vehicles market is projected to grow from USD 51.6 billion in 2025 to USD 60.7 billion by 2030, with a CAGR of 3.3% from 2025 to 2030. Regions with territorial disputes, such as South Asia, Eastern Europe, and the Middle East, are driving demand for advanced military equipment, resulting in significant investments in armored vehicles.
The need to maintain peace and security amid ongoing border conflicts fosters continuous investment in armored vehicles, sustaining market growth over the forecast period. Governments allocate substantial budgets toward procuring vehicles with cutting-edge technology to enhance combat capabilities and readiness against potential threats.
Market Segmentation and Drivers
Based on type, the conventional armored vehicles segment is anticipated to hold the largest market share in 2025. These vehicles are crucial for mechanized ground forces because of their established utility in firepower, mobility, and protection. Despite innovations like drones, traditional armored vehicles remain essential in combined arms and high-intensity combat.
Significant military forces are refurbishing fleets through enhanced armor, active protection, digital fire control, and networked battle management. European, Asian, and Middle Eastern countries are modernizing systems to counter evolving threats, as evidenced by programs like the US Army M1A2 SEP upgrades and Poland's K2 tank procurement.
Leading Platform: Combat Vehicles
The combat vehicles segment is expected to lead the armored vehicle market due to their pivotal role in combat, force projection, and battlefield superiority. This includes main battle tanks (MBTs), infantry fighting vehicles (IFVs), and armored assault and reconnaissance vehicles that balance firepower, defense, and mobility.
The effectiveness of armored combat vehicles in high-intensity environments, as seen in Ukraine, has prompted countries to refurbish older fleets or acquire next-generation systems with advanced defense and networked command systems.
Regional Insights: Asia Pacific Dominance
The Asia Pacific region is projected to capture a significant market share by 2025, driven by increased defense spending and regional competition. Countries like China, India, South Korea, Australia, and Japan are enhancing ground forces in response to conventional and unconventional threats.
Border conflicts, such as those in the South China Sea and along the India-China border, drive investments in MBTs, IFVs, and wheeled armored vehicles. Initiatives like India's Future Infantry Combat Vehicle (FICV) and Australia's LAND 400 propel local production and global cooperation.
The Asia Pacific is also emerging as a manufacturing and export hub, with nations like South Korea and India expanding into international markets through defense partnerships and technology transfers.
Research Coverage
This market study explores the armored vehicles market across various segments, aiming to estimate its size and growth potential across different regions. It includes an in-depth competitive analysis of key market players, their profiles, product offerings, recent developments, and strategies.
Key companies include Rheinmetall AG (Germany), General Dynamics Corporation (US), Oshkosh Corporation (US), BAE Systems (UK), and Hanwha Defense (South Korea).
Reasons to Buy this Report
The report provides valuable insights for market leaders and new entrants, helping stakeholders understand competitive landscapes and plan effective go-to-market strategies. It offers comprehensive data on revenue approximations, market drivers, challenges, and opportunities.
- Market Penetration: Details on offerings by top players
- Product Development/Innovation: Insights into upcoming technologies and product launches
- Market Development: Information on lucrative markets
- Market Diversification: Details on new products, geographies, and investments
- Competitive Assessment: Analysis of market shares, growth strategies, and capabilities
Key Attributes
| Report Attribute | Details |
| No. of Pages | 339 |
| Forecast Period | 2025-2030 |
| Estimated Market Value (USD) in 2025 | $51.6 Billion |
| Forecasted Market Value (USD) by 2030 | $60.7 Billion |
| Compound Annual Growth Rate | 3.3% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Rising Military Modernization Programs
- Growing Demand for Armored Vehicles to Tackle Cross-Border Conflicts
- Rising Incidences of Asymmetric Warfare
- Increased Global Defense Spending
- Restraints
- Susceptibility to Mechanical and Electrical Failures
- Survivability Risks for Personnel Onboard Armored Vehicles
- Opportunities
- Rising Technology Integration and Upgrades in Military Vehicles
- Adoption of Lifecycle Optimization Strategies for Sustainment
- Surge in Demand for Light Armored Vehicles in Asymmetric Warfare
- Increasing Procurement of Unmanned Systems by Defense Forces
- Rise of Next-Gen Amphibious and Arctic-Capable Platforms
- Challenges
- Hardware and Software Malfunctions
- High Costs of Main Battle Tanks
Companies Profiled
- Rheinmetall AG
- General Dynamics Corporation
- Oshkosh Corporation
- Bae Systems
- Hanwha Group
- Northrop Grumman
- Lockheed Martin Corporation
- Thales
- L3Harris Technologies, Inc.
- St Engineering
- Elbit Systems Ltd.
- Mitsubishi Heavy Industries, Ltd.
- Hyundai Rotem Company
- Textron Inc.
- Otokar Otomotiv Ve Savunma Sanayi
- Denel Soc Ltd.
- Knds
- Fnss
- China North Industries Corporation (Norinco)
- Rtx
- Iveco Defence Vehicles
- Paramount Group
- Arquus
- Tatra Trucks A.S.
- Kalyani Strategic Systems Ltd.
- Am General
- Mahindra Emirates Vehicle Armouring Fz LLC
- Tata Advanced Systems Limited
- Inkas Armored Vehicle Manufacturing
- Streit Group
For more information about this report visit https://www.researchandmarkets.com/r/u65oyx
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