Vehicle armor market is expected to reach USD 18.50 billion by 2028 and witnessing market growth at a rate of 6.3% in the forecast period of 2021 to 2028. Data Bridge Market Research report on vehicle armor market provides analysis and insights regarding the leading current market analysis scenario, upcoming as well as future opportunities and competitors.
Vehicle armor is commonly used in military vehicles for shielding the personnel inside from bullets, missiles, and shells. Nowadays, vehicle armor can also be used in civilian vehicles. The vehicle armor is used by reporters, politicians, officers, and celebrities in conflict areas or areas where crime rates are more. Vehicle armor is also used in those by security agencies to carry money or any other valuable things for reducing the risk of robbery or unethical events.
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Civilian police of many countries are adopting the military model principles including military culture, equipment, and tactics, which is driving the growth of the vehicle armor market. The government is increasing the budget for defense industries and spending more on secured vehicles and equipment for military personnel, which will raise the demand for vehicle armor in the coming years. The advancement and development in technology in automobile manufacturing will drive the growth of the vehicle armor. Increasing demand for vehicle armor in civilians such as politicians, reporters, and celebrities are also likely to fuel the vehicle armor market. Along with the military, the demand for vehicle armor is also growing in the air force.
Lack of durable and strong vehicle armor manufacturers will hamper the market to grow. High costs of manufacturing the advanced vehicle armor and its raw material costs are a major limitation for the growth of the market.
The rise in conflicts between the nations and internal and external security threats among the regions in the world is creating opportunities for the vehicle armor market.
This vehicle armor market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research global vehicle armor market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Vehicle Armor Market Scope and Market Size
Global vehicle armor market is segmented on the technology, type, application, level of protection. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· The vehicle armor market on the basis of technology has been segmented into vehicle information integration, situational awareness system, inter operable communication, active protection system, modular ballistic armor, active mine protection, electric armor.
· Based on type, global vehicle armor market has been segmented into mine resistant ambush protected vehicles, armored amphibious vehicles, armored personnel carriers, infantry fighting vehicles, light protected vehicles, main battle tanks, and other types.
· Based on application, global vehicle armor market has been segmented into commercial, law enforcement, military. Military segment is dominating the market due to rising concerns of governments to protect their soldiers during terror attacks, riots, civil wars and conflicts on borders and is expected to dominate the market in the future also.
· Based on level of protection, global vehicle armor market has been segmented into B4 level protection, B5 level protection, B6 level protection, B7 level protection and other.
Vehicle Armor Market Country Level Analysis
Vehicle armor market is analysed and market size, volume information is provided by country, technology, type, application and level of protection as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is capturing the largest market share of vehicle armor market due to the increase in terrorist activities, riots and conflicts between nations in this region. Many countries including India and China have increased their budget for defense sector which is boosting the growth of the market as well as many OEMs are investing in research and development to design and develop advanced vehicle armor.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Armor Market Share Analysis
Vehicle armor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vehicle armor market.
The major players covered in the vehicle armor market report are Koninklijke DSM N.V., Teijin Aramid B.V., DuPont de Nemours, Inc., ATEK Defense Systems, Armormax, Bulldog Direct Protective Systems Inc., CoorsTek Inc., Vehicle Armour, AT&F, Vehicle Armor Systems, Premium Armoring, SM Group, Safariland, LLC., Ibis Tek, Vanguard Vehicle Armor, ArmorUSA Inc. among some global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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