Vehicle Armor Market Size By Material (Metals, Ceramics, Composites), By Vehicle (Tanks, Armored Fighting Vehicles, Civilian & Law Enforcement Vehicles), By Application (Military, Non-military), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Published on: 2024-07-07 | No of Pages : 240 | Industry : Aerospace
Publisher : MRA | Format : PDF&Excel
Vehicle Armor Market Size By Material (Metals, Ceramics, Composites), By Vehicle (Tanks, Armored Fighting Vehicles, Civilian & Law Enforcement Vehicles), By Application (Military, Non-military), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Vehicle Armor Market Size By Material (Metals, Ceramics, Composites), By Vehicle (Tanks, Armored Fighting Vehicles, Civilian & Law Enforcement Vehicles), By Application (Military, Non-military), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Vehicle Armor Market Size
Vehicle Armor Market size valued at USD 6.7 billion in 2019 and will grow at a CAGR of 4.5% between 2020 and 2026. The rising government spending on the defense sector to strengthen armament power will propel the industry growth.
Rising military expenditures will accelerate the pace of procurement of armored vehicles in the upcoming years. The global military expenditure increased by over 7% during 2010 to 2019. Increasing conflicts and unstable political situations will change the course of combat operations. Global terrorism is another major threat faced by many countries, compelling them to strengthen their armaments. Additionally, growing concerns associated with small ballistic arms will generate the need for efficient vehicle armors by land armament sectors.
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The emergence of political instability within the Middle East will support vehicle armor market demand. The civil war in Syria, violent conditions in Yemen, and surging terrorism activities are driving countries within this region to expand their military capabilities. The procurement of armored vehicles will see an upward growth trajectory backed by strong economic conditions and huge investments. This will help the countries to solidify the land arms sector to modernize inventories and reinforce military power.
| Report Attribute | Details |
|---|---|
| Base Year | 2019 |
| Vehicle Armor Market Size in 2019 | 6.7 Billion (USD) |
| Forecast Period | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR | 4.5% |
| 2026 Value Projection | 9.1 Billion (USD) |
| Historical Data for | 2016 to 2019 |
| No. of Pages | 130 |
| Tables, Charts & Figures | 144 |
| Segments covered | Material, Vehicle and Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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The advent of technology will potentially generate many opportunities for the growth of vehicle armors through 2026. The integration of artificial intelligence, virtual training, sensor systems, active protection systems, and survivability equipment will aid in improving the capabilities of armor systems, thereby providing more safety to soldiers.
Moreover, companies are heavily investing in research & development activities to develop lightweight and efficient materials for the development of vehicle armor. This will help in reducing the vehicles’ weight and enhancing their mobility in combat situations.
Vehicle armor industry may face adversity due to limitations faced by vehicle armor manufacturers while entering into new and emerging markets. These manufacturers may find it difficult to get foothold of the market rapidly owing to stringent government regulations, inability to form strong relationship with suppliers, and budget constraints. Such trends may negatively influence the market growth.
Vehicle Armor Market Analysis
Metals material segment captured around 75% vehicle armor market share in 2019 and will continue to dominate the market over 2020-2026 driven by their versatility. Metals have been the traditional choice for armored vehicles since their inception. Steel is the most widely used metal for armor manufacturing, while aluminum, magnesium, and titanium are also used in some cases.
The two major types of steel armor are Rolled homogeneous armor (RHA) and cast homogeneous armor (CHA). Steel possesses good balance of toughness, hardness, and fatigue resistance. It can be easily cut, machined, welded & formed, and it is easily field repairable.
The armored fighting vehicles market is poised to witness more than 4.5% CAGR through 2026 propelled by rising procurement of armored personnel carriers (APC) and mine-resistant ambush protected (MRAP) vehicles. The strong growth of this segment is attributable to the increasing demand for agile, lighter, and flexible vehicles that can provide strategic advantage in battlefields.
Developments associated with ballistic protection, blast protection, and counter-IED will transform the armored fighting vehicles sector in coming few years. Technological progressions related to active protection systems, modular ballistic armor systems, information integration, and active mine protection systems will support vehicle armor market growth.
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This non-military application is likely to grow at above 5% CAGR from 2020 to 2026. The armored vehicles are majorly used by government officials, diplomats, police forces, etc., for protection against various threats. Nowadays, the demand for armored vehicles is soaring amongst high net worth people, corporate tycoons, and celebrities for safety reasons. The armor reinforcement ranging from bulletproof glass to run-flat tires is being implemented within vehicles to safeguard passengers from all kinds of attacks.
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Asia Pacific held around 30% vehicle armor market share in 2019 on account of rising border disputes along with solidification of military capabilities of various countries. Japan’s Ministry of Defense provided a contract to BAE Systems for 30 new assault amphibious vehicles recently. In March 2017, the Royal Thai army ordered armed vehicles from China. In the same year, the Indonesian army procured five new armored personnel carriers from a Ukrainian manufacturer.
Vehicle Armor Market Share
The key vehicle armor industry participants are focusing on product differentiation & development by investing in research & development activities to improve the product capabilities. The manufacturers include
- Kaiser Aluminum
- CoorsTek
- Composhield A/S
- DuPont
- Armormax
- ATEK Defense Systems
- Garanti Kompozit
- Permali
- ASL GRP
- DEW Engineering and Development ULC
- SSAB
- MTL Advanced Ltd.
- Multotec Group
- Plasan Sasa Ltd.
- AMEFO
- MKU Limited
- Tenate Advanced Armor.
This market research report on vehicle armor includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026, for the following segments
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Market, By Material
-
Metals
- Ceramics
- Composites
- Others
Market, By Vehicle
-
Tanks
- Armored fighting vehicles
- Civilian & law enforcement vehicles
- Others
Market, By Application
-
Military
- Non-military
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Indonesia
- South Korea
- LATAM
- Brazil
- Mexico
- MEA
- Saudi Arabia
- Egypt
- Turkey
- South Africa
Table of Content
Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.2. Base estimation & working
1.2.1. North America
1.2.2. Europe
1.2.3. Asia Pacific
1.2.4. Latin America
1.2.5. Middle East & Africa
1.3. Forecast calculation
1.4. Data sources
1.4.1. Primary
1.4.2. Secondary
1.4.2.1. Paid sources
1.4.2.2. Public sources
Chapter 2. Executive Summary
2.1. Vehicle armor market 360? synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Material trends
2.1.3. Vehicle trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Vehicle Armor Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Value addition at each stage
3.3.2. Distribution channel analysis
3.3.3. Vendor matrix
3.4. Industry megatrends
3.5. Innovation & sustainability
3.5.1. Patent analysis
3.5.2. Technology landscape
3.5.3. Future trends
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Rising military expenditures across the globe
3.6.1.2. Favorable trends associated with procurement of armored vehicles
3.6.1.3. Technological progressions related to armored vehicle manufacturing
3.6.2. Industry pitfalls & challenges
3.6.2.1. Complexities associated with untapped markets
3.7. Regulatory landscape
3.7.1. North America
3.7.2. Europe
3.7.3. Asia Pacific
3.8. Growth potential analysis
3.9. Competitive landscape, 2019
3.9.1. Company market share, 2019
3.9.2. Strategy dashboard
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. Cost structure analysis
3.11.1. R&D cost
3.11.2. Manufacturing & equipment cost
3.11.3. Raw material cost
3.11.4. Distribution cots
3.11.5. Operating cost
3.11.6. Miscellaneous cost
3.12. PESTEL analysis
Chapter 4. Vehicle Armor Market, By Material
4.1. Global vehicle armor market material insights
4.2. Metals
4.2.1. Market estimates and forecast, 2016 – 2026
4.2.2. Market estimates and forecast, by region, 2016 – 2026
4.3. Ceramics
4.3.1. Market estimates and forecast, 2016 – 2026
4.3.2. Market estimates and forecast, by region, 2016 – 2026
4.4. Composites
4.4.1. Market estimates and forecast, 2016 – 2026
4.4.2. Market estimates and forecast, by region, 2016 – 2026
4.5. Others
4.5.1. Market estimates and forecast, 2016 – 2026
4.5.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 5. Vehicle Armor Market, By Vehicle
5.1. Global vehicle armor market vehicle insights
5.2. Tanks
5.2.1. Market estimates and forecast, 2016 – 2026
5.2.2. Market estimates and forecast, by region, 2016 – 2026
5.3. Armored fighting vehicles
5.3.1. Market estimates and forecast, 2016 – 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.4. Civilian & law enforcement vehicles
5.4.1. Market estimates and forecast, 2016 – 2026
5.4.2. Market estimates and forecast, by region, 2016 – 2026
5.5. Others
5.5.1. Market estimates and forecast, 2016 – 2026
5.5.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 6. Vehicle Armor Market, By Application
6.1. Global vehicle armor market application insights
6.2. Military
6.2.1. Market estimates and forecast, 2016 – 2026
6.2.2. Market estimates and forecast, by region, 2016 – 2026
6.3. Non-military
6.3.1. Market estimates and forecast, 2016 – 2026
6.3.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 7. Vehicle Armor Market, By Region
7.1. Global vehicle armor market regional insights
7.2. North America
7.2.1. Market estimates and forecast, 2016 – 2026
7.2.2. Market estimates and forecast, by material, 2016 – 2026
7.2.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.2.4. Market estimates and forecast, by application, 2016 – 2026
7.2.5. U.S.
7.2.5.1. Market estimates and forecast, 2016 – 2026
7.2.5.2. Market estimates and forecast, by material, 2016 – 2026
7.2.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.2.5.4. Market estimates and forecast, by application, 2016 – 2026
7.2.6. Canada
7.2.6.1. Market estimates and forecast, 2016 – 2026
7.2.6.2. Market estimates and forecast, by material, 2016 – 2026
7.2.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.2.6.4. Market estimates and forecast, by application, 2016 – 2026
7.3. Europe
7.3.1. Market estimates and forecast, 2016 – 2026
7.3.2. Market estimates and forecast, by material, 2016 – 2026
7.3.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.4. Market estimates and forecast, by application, 2016 – 2026
7.3.5. Germany
7.3.5.1. Market estimates and forecast, 2016 – 2026
7.3.5.2. Market estimates and forecast, by material, 2016 – 2026
7.3.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.5.4. Market estimates and forecast, by application, 2016 – 2026
7.3.6. UK
7.3.6.1. Market estimates and forecast, 2016 – 2026
7.3.6.2. Market estimates and forecast, by material, 2016 – 2026
7.3.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.6.4. Market estimates and forecast, by application, 2016 – 2026
7.3.7. France
7.3.7.1. Market estimates and forecast, 2016 – 2026
7.3.7.2. Market estimates and forecast, by material, 2016 – 2026
7.3.7.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.7.4. Market estimates and forecast, by application, 2016 – 2026
7.3.8. Italy
7.3.8.1. Market estimates and forecast, 2016 – 2026
7.3.8.2. Market estimates and forecast, by material, 2016 – 2026
7.3.8.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.8.4. Market estimates and forecast, by application, 2016 – 2026
7.3.9. Russia
7.3.9.1. Market estimates and forecast, 2016 – 2026
7.3.9.2. Market estimates and forecast, by material, 2016 – 2026
7.3.9.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.3.9.4. Market estimates and forecast, by application, 2016 – 2026
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2016 – 2026
7.4.2. Market estimates and forecast, by material, 2016 – 2026
7.4.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.4. Market estimates and forecast, by application, 2016 – 2026
7.4.5. China
7.4.5.1. Market estimates and forecast, 2016 – 2026
7.4.5.2. Market estimates and forecast, by material, 2016 – 2026
7.4.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.5.4. Market estimates and forecast, by application, 2016 – 2026
7.4.6. India
7.4.6.1. Market estimates and forecast, 2016 – 2026
7.4.6.2. Market estimates and forecast, by material, 2016 – 2026
7.4.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.6.4. Market estimates and forecast, by application, 2016 – 2026
7.4.7. Japan
7.4.7.1. Market estimates and forecast, 2016 – 2026
7.4.7.2. Market estimates and forecast, by material, 2016 – 2026
7.4.7.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.7.4. Market estimates and forecast, by application, 2016 – 2026
7.4.8. Indonesia
7.4.8.1. Market estimates and forecast, 2016 – 2026
7.4.8.2. Market estimates and forecast, by material, 2016 – 2026
7.4.8.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.8.4. Market estimates and forecast, by application, 2016 – 2026
7.4.9. South Korea
7.4.9.1. Market estimates and forecast, 2016 – 2026
7.4.9.2. Market estimates and forecast, by material, 2016 – 2026
7.4.9.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.4.9.4. Market estimates and forecast, by application, 2016 – 2026
7.5. Latin America
7.5.1. Market estimates and forecast, 2016 – 2026
7.5.2. Market estimates and forecast, by material, 2016 – 2026
7.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.5.4. Market estimates and forecast, by application, 2016 – 2026
7.5.5. Brazil
7.5.5.1. Market estimates and forecast, 2016 – 2026
7.5.5.2. Market estimates and forecast, by material, 2016 – 2026
7.5.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.5.5.4. Market estimates and forecast, by application, 2016 – 2026
7.5.6. Mexico
7.5.6.1. Market estimates and forecast, 2016 – 2026
7.5.6.2. Market estimates and forecast, by material, 2016 – 2026
7.5.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.5.6.4. Market estimates and forecast, by application, 2016 – 2026
7.6. Middle East & Africa (MEA)
7.6.1. Market estimates and forecast, 2016 – 2026
7.6.2. Market estimates and forecast, by material, 2016 – 2026
7.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.6.4. Market estimates and forecast, by application, 2016 – 2026
7.6.5. Saudi Arabia
7.6.5.1. Market estimates and forecast, 2016 – 2026
7.6.5.2. Market estimates and forecast, by material, 2016 – 2026
7.6.5.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.6.5.4. Market estimates and forecast, by application, 2016 – 2026
7.6.6. Egypt
7.6.6.1. Market estimates and forecast, 2016 – 2026
7.6.6.2. Market estimates and forecast, by material, 2016 – 2026
7.6.6.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.6.6.4. Market estimates and forecast, by application, 2016 – 2026
7.6.7. Turkey
7.6.7.1. Market estimates and forecast, 2016 – 2026
7.6.7.2. Market estimates and forecast, by material, 2016 – 2026
7.6.7.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.6.7.4. Market estimates and forecast, by application, 2016 – 2026
7.6.8. South Africa
7.6.8.1. Market estimates and forecast, 2016 – 2026
7.6.8.2. Market estimates and forecast, by material, 2016 – 2026
7.6.8.3. Market estimates and forecast, by vehicle, 2016 – 2026
7.6.8.4. Market estimates and forecast, by application, 2016 – 2026
Chapter 8. Company Profiles
8.1. Kaiser Aluminum
8.1.1. Business overview
8.1.2. Financial data
8.1.3. Product landscape
8.1.4. Strategic outlook
8.1.5. SWOT analysis
8.2. CoorsTek
8.2.1. Business overview
8.2.2. Financial data
8.2.3. Product landscape
8.2.4. Strategic outlook
8.2.5. SWOT analysis
8.3. Composhield A/S
8.3.1. Business overview
8.3.2. Financial data
8.3.3. Product landscape
8.3.4. Strategic outlook
8.3.5. SWOT analysis
8.4. Armormax
8.4.1. Business overview
8.4.2. Financial data
8.4.3. Product landscape
8.4.4. Strategic outlook
8.4.5. SWOT analysis
8.5. ATEK Defense Systems
8.5.1. Business overview
8.5.2. Financial data
8.5.3. Product landscape
8.5.4. Strategic outlook
8.5.5. SWOT analysis
8.6. DEW Engineering and Development ULC
8.6.1. Business overview
8.6.2. Financial data
8.6.3. Product landscape
8.6.4. Strategic outlook
8.6.5. SWOT analysis
8.7. Permali
8.7.1. Business overview
8.7.2. Financial data
8.7.3. Product landscape
8.7.4. Strategic outlook
8.7.5. SWOT analysis
8.8. MTL Advanced Ltd.
8.8.1. Business overview
8.8.2. Financial data
8.8.3. Product landscape
8.8.4. Strategic outlook
8.8.5. SWOT analysis
8.9. Armour Solutions UG
8.9.1. Business overview
8.9.2. Financial data
8.9.3. Product landscape
8.9.4. Strategic outlook
8.9.5. SWOT analysis
8.10. Multotech Group
8.10.1. Business overview
8.10.2. Financial data
8.10.3. Product landscape
8.10.4. Strategic outlook
8.10.5. SWOT analysis
8.11. Armor Australia Pty Ltd.
8.11.1. Business overview
8.11.2. Financial data
8.11.3. Product landscape
8.11.4. Strategic outlook
8.11.5. SWOT analysis
8.12. Plasan Sasa Ltd.
8.12.1. Business overview
8.12.2. Financial data
8.12.3. Product landscape
8.12.4. Strategic outlook
8.12.5. SWOT analysis
8.13. AMEFO
8.13.1. Business overview
8.13.2. Financial data
8.13.3. Product landscape
8.13.4. Strategic outlook
8.13.5. SWOT analysis
8.14. FMS Enterprises UK Ltd.
8.14.1. Business overview
8.14.2. Financial data
8.14.3. Product landscape
8.14.4. Strategic outlook
8.14.5. SWOT analysis
8.15. TenCate Advanced Armour
8.15.1. Business overview
8.15.2. Financial data
8.15.3. Product landscape
8.15.4. Strategic outlook
8.15.5. SWOT analysis