ARMORED VEHICLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Revolution in technology and capability

Over the years, there has been a revolution in military land technology with cutting-edge innovations completely transforming modern armored vehicles. Advanced armor composites, active protection systems, networked C4ISR capabilities are now allowing unprecedented levels of survivability, mobility and lethality. Vehicles can now be equipped for a vast array of missions with versatile and customizable platform architectures. Militaries seek to gain decisive edge through vehicles integrated with lastest sensors, command and control interfaces, high-energy weapons. This has prompted upgrading of existing fleets as well as new product development. Continuous modernization remains crucial as adversaries also gain capabilities. Technology leaders continuously invest heavily in R&D to integrate newest materials, propulsion and digital systems - giving platforms multi-domain flexibility. Novel platforms promise revolutionary capabilities, attracting defense modernization budgets and development orders from early adopter nations.

• BAE Systems
• BMW AG
• Daimler AG (Mercedes Benz)
• Ford Motor Company
• General Dynamics Corporation
• INKAS Armored Vehicle Manufacturing
• International Armored Group
• Lenco Industries, Inc.
• Lockheed Martin Corporation
• Navistar, Inc.
• Oshkosh Defense, LLC
• Rheinmetall AG
• STAT, Inc.
• Textron, Inc.
• Thales Group.