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.
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.
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- 12 – Chapter
- 326 – Pages
- Industry: Manufacturing & Construction
Key trends:
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.
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Market Segmentation:
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.
By end-user:
Armored Personnel Carrier Market is segmented into military, law enforcement, and others. The military segment is expected to dominate the market during the forecast period. Armored personnel carriers have long been used by the military. The usage of APCs for law enforcement has expanded as a result of current worldwide political tensions, civil upheaval, and security threats.
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Data Summary:
Report Attribute |
Details |
| Historic Period | 2016-2021 |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Segments Covered | Design, Range, Configuration, Carrying Capacity, End-User, and Region |
| Key Companies | 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 |
| Regional Scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Analysis Coverage | Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments |
Recent Developments
- In March 2023, BAE Systems received a U.S. Army AMPV contract; replacing the M113 armored personnel carriers sent to Ukraine in their fights against Russia and modernizing from the Vietnam War-era LAV II Super Bison has resulted in BAE Systems receiving a procurement contract from the United States Army for the future purchase of Armored Multi-Purpose Vehicles (AMPV).
- In January 2023, because of the Russia-Ukraine conflict, Canada has announced the donation of 200 senator armored personnel vehicles to Ukraine. The overall gift worth is USD 90 million, which is less than the USD 500 million allotted to Trudeau for Ukraine’s military help.
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Key Players:
- 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.
- Rheinmetall Ag
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (UAE, Saudi Arabia, Rest of Middle East And Africa)
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