Market Definition
APCs are armored vehicles used to convey people and supplies onto the battlefield. They are also known as armored combat vehicles, armored automobiles, or infantry mobility vehicles. APCs are more mobile than infantry combat vehicles and main battle tanks since they weigh less. APCs, unlike infantry fighting vehicles (IFVs), are designed for transport and do not participate in direct-fire combat. They are armoured for protection against shrapnel, small weapons, and artillery fire, but only have a modest self-defense weapon. APCs of a certain sort are also used by non-military organizations.
Market Outlook
The global Armored Personnel Carrier Market was valued at US$ 14.5 billion in 2022 and it is anticipated to grow up to US$ 32.9 billion by 2032, at a CAGR of 8.4% during the forecast period.
The Increasing terrorism incidences is one of the primary drivers of the global armored personnel carrier market. Violence and conflict have recently grown increasingly common. Political militias, criminal gangs, and international terrorist organizations are constantly at odds nowadays.
Furthermore, many older-generation vehicles in critical nations’ armored vehicle fleets in Europe and North America need to be modernized or replaced. Recent technical and product advancements have raised the demand for modern APCs. APCs are becoming more popular on the international market because of advancements in communication and optical systems, as well as fire control systems.
High Vibrations and Audio Related to Tracked APCs: The key design aspect for armored vehicles is often to maximize lethality, survivability, and mobility. The vibration caused by moving vehicles can also have an effect on how effectively an armored platform operates. Vibrations from armored vehicles during operations can be harmful to people’s health and cause premature component failure. Excessive vibrations in a vehicle are harmful since they make the crew uncomfortable and create needless noise. Loud noises also raise the likelihood of being found in enemy territory, reducing their use for stealth operations. As a result, the strong vibrations and noises of tracked APCs are expected to hinder market expansion.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global Armored Personnel Carrier Market based on design, range, configuration, carrying capacity, end-user, and region.
Global Armored Personnel Carrier Market by Design
Based on design, the Armored Personnel Carrier Market is segmented into wheeled APC and tracked APC.. The wheeled APC segment is expected to dominate the market during the forecast period. Various criteria, such as mobility, survivability, and supportability, usually favor one design over another.
Global Armored Personnel Carrier Market by Range
By range, the market is classified into less than 500 km and more than 500 km. The more than 500 km segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. Onboard fuel storage and fuel efficiency both have an impact on an APC’s operational range. A good APC operation range is critical for mission support responsibilities.
Global Armored Personnel Carrier Market by Configuration
Based on configuration, the Armored Personnel Carrier Market is segmented into amphibious and non-amphibious. In 2022, the non-amphibious segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. Non-amphibious APCs cannot cross bodies of water, but amphibious APCs can. Tracks, water jets, or propellers frequently drive amphibious APCs. The average car travels substantially slower across water than it does on land.
Global Armored Personnel Carrier Market by Carrying Capacity
Based on carrying capacity, the Armored Personnel Carrier Market is segmented into less than 10000kg and greater than and equal to 10000kg. The greater than 10,000kg segment is expected to dominate the market during the forecast period. The need for APCs with larger payload capacity is increasing. Because APCs have a larger carrying capacity, military forces can move more equipment and soldiers.
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Major Players
The key players studied in the global Armored Personnel Carrier Market are Bae Systems Plc. , DRB-HICOM Defence Technologies Sdn, FNSS Savunma Sistemleri A.S , General Dynamics Corporation , Hanwha Defense Systems , Nurol Makina ve Sanayi A.S, Terradyne Armored Vehicles Inc., Iveco – Oto Melara Consortium, Katmerciler A.S., and Rheinmetall Ag among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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