Global Armoured Vehicles Upgrade and Retrofit Market

The Armoured Vehicles Upgrade and Retrofit Market is a competitive market owing to the upswing of some global players in the market. The armoured vehicles are mostly used in the defence field and also used in large number while combating enemies. Armoured vehicles are of many types, high precision weapons, anti-air weapon systems, drone striker helicopter, fighter jets and many others. These vehicles strengthen the country's military forces and also act as a safe means for dealing with the present state of terrorism. The existing armoured vehicles when upgraded and retrofitted incur a small amount as compared to manufacturing a fully equipped new vehicle which in turn ease up budget for other defence related researches and activities. The Global Armour Vehicles Upgrade and Retrofit Market is growing at a steady rate and is expected to have a cumulative annual growth rate (CAGR) of 3.45% from the period 2017 to 2021.

Market Segment and Share

The Global Armoured Vehicles Upgrade and Retrofit Market is a large market considering the international scenario. The economically powerful nations are making use of the technology from the defence researches to develop armoured vehicles and components that can be retrofit into the existing system. The global market is segmented on the basis of vehicle type and on the basis of region.

The segmentation on the basis of vehicle type consists of:

--> Armoured Personnel Carrier

--> Main Battle Tank

--> Mine Resistant

--> Ambush Protected

--> Tactical Truck

Russia owns 1900 T-72, 450 T-80 and 350 T-90 for which upgrades and improvements are still pending. At present T-90 is being upgraded into the T-90MS variant so as to cater to the requirement of 4th Generation T-14 7T-15 Armata tanks. In the United States the M829A4 anti-ERA 6 ammunition has entered into full production in 2016.

The segmentation on the basis of region is done keeping in mind the powerhouses of defence which are

--> United States of America

-- >> Russia

-- >> China

-- >> Japan

--> Europe

-- >> India along with the rest of the developing nations.

America is the leader with almost 42% market share followed by Russia and France.

Driving Force

The major driving force that is presently pushing the growth to such limits are modernization of military armored vehicles and need for SWaP reduction. The innovation in the particular market is a vital aspect of growth and is considered as a major driving force to gain market share.

Major Players in the Market

The key market players driving the Global Armoured Vehicles Upgrade and Retrofit Market primarily are AM General, FNSS SavunmaSistemleri, MKU, Oshkosh Defense, Sabiex International, BAE Systems, Diehl Defence, Elbit Systems, General Dynamics, Palbam, Rheinmetall, and Thales Group.

Report Contents:

> Market segments

> Market Drivers, Restraints and Opportunities

> Market Size & Forecast 2016 to 2022

> Supply & Demand Value Chain

> Market - Current Trends

> Competition & Major Companies

> Technology and R&D Status

> Porters Five Force Analysis

> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Western Europe

> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastern Europe

> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

> Consumer and Pricing Analysis

> Market dynamics of the industry

> Market Segmentation

> Estimated Market Sizing in terms of volume and value

> Recent trends in Market and impact

> Research Status and Technology Overview

> Extensive Industry Structure Coverage