The Armored Vehicle Upgrade And Retrofit Global Market Report 2023, provides comprehensive information on the armored vehicle upgrade and retrofit market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Armored Vehicle Upgrade And Retrofit Market’s Growth:
The global armored vehicle upgrade and retrofit market is expected to grow from $5.79 billion in 2022 to $6.07 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The armored vehicle upgrade and retrofit market is expected to reach $7.17 billion in 2027 at a CAGR of 4.2%.
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Technological advancements are a key trend gaining popularity in the armored vehicle upgrade and retrofit market. Major companies operating in the armored vehicle upgrade and retrofit market are focused on the latest technology to sustain their position. For instance, in June 2022, Texelis SAS, a France-based manufacturing company, introduced a new technological solution to wheeled armored vehicle electrification for military operators looking to take the next step toward a greener battlefield. This solution combines proven electric vehicle components to offer a faster route to vehicle electrification than whole-vehicle electric design programs. It can be implemented on existing wheeled military vehicles to retain advanced mobility while harnessing technologies to enable the ability to export electric power to charge soldier systems and run in full-electric silent mode for limited periods.
The armored vehicle upgrade and retrofit market is segmented:
1) By Design: Wheeled Armored Vehicles, Tracked Armored Vehicles
2) By Vehicle Type: Tactical Truck, Main Battle Tanks (MBT), Assault Amphibious Vehicles (AAV), Armored Personnel Carrier (APC), Armored Recovery Vehicle, Armored Fighting Vehicle, Other Vehicle Types
3) By Armor Level Type: Rifle, Mine Resistant
4) By Point of Sale: Original Equipment Manufacturer (OEM), Retrofit
North America was the largest region in the armored vehicle upgrade and retrofit market in 2022.
The table of contents in TBRC’s armored vehicle upgrade and retrofit market report includes:
- Executive Summary
- Armored Vehicle Upgrade And Retrofit Market Characteristics
- Armored Vehicle Upgrade And Retrofit Market Trends And Strategies
- Armored Vehicle Upgrade And Retrofit Market – Macro Economic Scenario
- Global Armored Vehicle Upgrade And Retrofit Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
- Global Armored Vehicle Upgrade And Retrofit Market Competitive Benchmarking
- Global Armored Vehicle Upgrade And Retrofit Market Competitive Dashboard
- Key Mergers And Acquisitions In The Armored Vehicle Upgrade And Retrofit Market
- Armored Vehicle Upgrade And Retrofit Market Future Outlook and Potential Analysis
- Appendix
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