Reports and Data has recently published a research report titled global Armored Automotive Upgrade Market forecast to 2028 which provides a comprehensive overview of the Armored Automotive Upgrade industry. The report offers current market scenario with accurate information about market size, market share, market revenue growth, drivers, restraints, growth opportunities, challenges and top companies. The report offers details about effect of coronavirus outbreak on the market statistics, and market positon.
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Market Dynamics:
Drivers:
In the upcoming years, there will likely be a rise in the need for armoured vehicles as well as terrorist threats and possible border conflicts. Attacks and fatalities due to terrorism and terrorist-related activity have significantly increased during the past ten years. Governments throughout the globe are making significant investments to modernise their current fleets of military armoured vehicles, which is anticipated to fuel market expansion. In addition, it is anticipated that demand for armoured vehicle upgrades and retrofits will continue to be driven by improvements in armament systems, communication systems, and novel materials for vehicle protection/armor.
Restrains:
Some significant variables that are anticipated to have an impact on market expansion include a lack of standards and regulations and a shortage of trained professionals. Additionally, the on-vehicle network capabilities of armoured vehicles cannot be fully utilised, which is anticipated to in part constrain the growth of global armoured vehicle upgrade and retrofit throughout the projection period.
The defense and aerospace sector is rapidly gaining traction over the recent past and is expected to grow significantly going ahead. Revenue growth is attributed to factors such as increasing border disputes, increasing need for advanced military weapons and systems for land, sea and air, increasing investments to develop technologically advanced aircrafts and space systems. In addition, availability of advanced camera technology for military purposes, rising funds by various public and private sectors for upgrading existing systems and increasing investments to develop crewless airways and UAVs are expected to fuel market growth going ahead.
The report sheds light on recent activities by market players such as business expansion plans, product portfolio, market positon, global position, and license agreements. The key players in global Armored Automotive Upgrade market are adopting various strategies such as mergers and acquisitions, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market and expand their product bases.
Leading companies operating in the market and profiled in the report include:
Some of the major players in the market include General Dynamics Corporation, Rheinmetall AG, BAE Systems plc, AM General, CMI Group, Elbit Systems Ltd., Krauss-Maffei Wegmann, Thales Group, Textron Inc., and RUAG Group.
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, Spain, Sweden, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East and Africa)
Armored Automotive Upgrade Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Armored Personnel Carrier (APC)
- Infantry Fighting Automotive (IFV)
- Mine-Resistant Ambush Protected (MRAP)
- Main Battle Tank (MBT)
- Others
Key questions addressed in the report:
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- What are the key factors are expected to driver global Armored Automotive Upgrade market during the forecast period?
- Which key players operating in the global Armored Automotive Upgrade market?
- Which region is expected to register fastest revenue CAGR over the forecast period?
- What are the key restraints expected to hamper global market growth over the forecast period?
- Which regional market is expected to account for significant revenue share in the global Armored Automotive Upgrade market over the forecast period?
- Which application segment revenue is expected to register rapid growth between 2021 and 2028?
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