According to the research report, the global armored vehicle upgrade and retrofit market size is expected to touch USD 10.77 Billion by 2032, from USD 6.8 Billion in 2022, growing with a significant CAGR of 6.8 % from 2023 to 2032.
The armored vehicle upgrade and retrofit report offers a comprehensive study of the current state expected at the major drivers, market strategies, and key vendors’ growth. The report presents energetic visions to conclude and study the market size, market hopes, and competitive surroundings. The research also focuses on the important achievements of the market, research & development, and regional growth of the leading competitors operating in the market. The current trends of the global armored vehicle upgrade and retrofit in conjunction with the geographical landscape of this vertical have also been included in this report.
The report offers intricate dynamics about different aspects of the global armored vehicle upgrade and retrofit market, which aids companies operating in the market in making strategic development decisions. The study also elaborates on significant changes that are highly anticipated to configure growth of the global armored vehicle upgrade and retrofit during the forecast period. It also includes a key indicator assessment that highlights growth prospects of this market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).
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Report Scope of the Armored Vehicle Upgrade and Retrofit Market:
| Report Coverage | Details |
| Market Size in 2023 | USD 7.12 Billion |
| Market Size by 2032 | USD 10.77 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.71% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
This study covers a detailed segmentation of the global armored vehicle upgrade and retrofit market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global armored vehicle upgrade and retrofit market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Players
- Rheinmetall AG
- General Dynamics Corporation
- Elbit Systems Ltd
- Textron Inc.
- BAE Systems PLC
- Oshkosh Corporation
- FNSS Savunma Sistemleri
- Nexter Group
- Thales Group
- RUAG Group
- Patria Group
- Bharat Electronics Limited (BEL)
Market Segmentation
By Type
- Armored Personnel Carrier (APC)
- Infantry Fighting Vehicle (IFV)
- Mine-resistant Ambush Protected (MRAP)
- Main Battle Tank (MBT)
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Research Methodology
The research methodology adopted by analysts for compiling the global armored vehicle upgrade and retrofit report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global armored vehicle upgrade and retrofit market.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Armored Vehicle Upgrade and Retrofit Market
5.1. COVID-19 Landscape: Armored Vehicle Upgrade and Retrofit Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics 6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Armored Vehicle Upgrade and Retrofit Market, By Type
8.1. Armored Vehicle Upgrade and Retrofit Market Revenue and Volume, by Type, 2023-2032
8.1.1. Armored Personnel Carrier (APC)
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Infantry Fighting Vehicle (IFV)
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Mine-resistant Ambush Protected (MRAP)
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
8.1.4. Main Battle Tank (MBT)
8.1.4.1. Market Revenue and Volume Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Armored Vehicle Upgrade and Retrofit Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.1.2. U.S.
9.1.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.1.3. Rest of North America
9.1.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.2. Europe
9.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.2.2. UK
9.2.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.2.3. Germany
9.2.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.2.4. France
9.2.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.2.5. Rest of Europe
9.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.3. APAC
9.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.3.2. India
9.3.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.3.3. China
9.3.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.3.4. Japan
9.3.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.3.5. Rest of APAC
9.3.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.4. MEA
9.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.4.2. GCC
9.4.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.4.3. North Africa
9.4.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.4.4. South Africa
9.4.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.4.5. Rest of MEA
9.4.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.5. Latin America
9.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.5.2. Brazil
9.5.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
9.5.3. Rest of LATAM
9.5.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
Chapter 10. Company Profiles
10.1. Rheinmetall AG
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. General Dynamics Corporation
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Elbit Systems Ltd
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Textron Inc.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. BAE Systems PLC
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Oshkosh Corporation
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. FNSS Savunma Sistemleri
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Nexter Group
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Thales Group
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. RUAG Group
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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