Armored Vehicles Market worth $60.7 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., June 12, 2025 /PRNewswire/ -- The armored vehicle market is estimated at USD 51.6 billion in 2025 and is projected to reach USD 60.7 billion by 2030 at a CAGR of 3.3% from 2025 to 2030 according to a new report by MarketsandMarkets™. The armored vehicles market experiences growth and evolution driven by various factors. Rising geopolitical tensions and terrorism prompt countries to enhance defense capabilities, fueling demand for armored vehicles. Global military modernization programs aiming to replace aging fleets with advanced technology-equipped vehicles boost demand. Innovations in armor materials, vehicle design, and weapon systems attract investments and propel market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6322755

Browse in-depth TOC on "Armored Vehicles Market" 

327 – Tables
81 – Figures
338 – Pages

Armored Vehicles Market Report Scope:

Combat vehicles segment to hold largest market share during forecast period.

Based on platform, the combat vehicles segment is projected to lead the armored vehicles market from 2025 to 2030. This growth is fueled by increasing global security concerns, geopolitical tensions, and military modernization initiatives across various regions. Combat vehicles, equipped with advanced technology, enhanced firepower, and superior mobility, are vital assets for modern military operations, driving their prominence in defense procurement programs. Additionally, ongoing conflicts and evolving battlefield scenarios necessitate the continuous development and deployment of combat vehicles, further contributing to their significant market share and growth potential.

Wheeled segment to hold largest market share during forecast period.

Based on mobility, the wheeled segment is projected to hold the largest market share during the forecast period. Wheeled armored vehicles (WAVs) offer advantages in terms of cost-effectiveness, as they are generally more affordable to acquire and maintain than tracked vehicles. Additionally, WAVs provide superior mobility and deployment flexibility, as they can be easily transported over long distances by road or air and offer better maneuverability on various terrains, especially in urban environments. Their modular design allows for customization to suit different mission requirements, making WAVs versatile for a range of applications, including law enforcement, internal security, and emerging market needs. While tracked vehicles still hold certain advantages in off-road capability and armor protection, the rise of WAVs reflects a shift toward more agile, cost-effective solutions in modern military operations.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=6322755

Asia Pacific to account for second-largest market share of armored vehicles market

Based on region, the Asia Pacific market is projected to account for the second-largest market share during the forecast period. The growth is bolstered by several factors, including geopolitical tensions, robust economic growth, evolving warfare dynamics, internal security challenges, and significant contracts secured by key players. Territorial disputes and nuclear threats, coupled with increasing defense budgets, drive nations to procure advanced armored vehicles to strengthen their military capabilities. Furthermore, key market players, such as General Dynamics, BAE Systems, and Hanwha Defense, have secured substantial contracts in the region, contributing to the proliferation of armored vehicles. These contracts not only enhance regional security but also stimulate market growth by fostering innovation and technological advancements. Collectively, these factors position the Asia Pacific region as a pivotal armored vehicles industry.

Key Players

The armored vehicles companies is dominated by a few globally established players such as Rheinmetall AG (Germany), General Dynamics Corporation (US), Oshkosh Corporation (US), BAE Systems (UK), and Hanwha Defense (South Korea).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=6322755

Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting

Related Reports: 

Military Vehicle Electrification Market by Platform (Combat Vehicles, Support Vehicles, Unmanned Armored Vehicles), System, Technology (Hybrid, Fully Electric), Mode of operation, Voltage Type and Region - Global Forecast to 2030

Military Vehicle Sustainment Market by Vehicle Type (Armored Vehicles, Military Trucks), Service (Maintenance, Repair, & Overhaul (MRO), Training & Support, Parts and Components Supply, Upgrades & Modernization), End User, and Region- Global Forecast to 2028

Turret System Market by Type (Manned, Unmanned), Component (Turret Drive, Turret Control System, Stabilization Unit), Platform (Land, Airborne, Naval), and Region – Global Forecast to 2027

Unmanned Ground Vehicles Market by Mobility (Wheeled, Tracked, Hybrid), Application (Military, Commercial, Law Enforcement, Federal Law Enforcement), Size (10-200lbs, 200-500lbs, Others), Mode of Operation, System, and Region-Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/armored-vehicle-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/armored-vehicle.asp

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/armored-vehicles-market-worth-60-7-billion-by-2030---exclusive-report-by-marketsandmarkets-302479959.html

SOURCE MarketsandMarkets