LONDON, December 3, 2013 /PRNewswire/ --
Ahead of the International Armoured Vehicles conference and exhibition taking place on February 03 - 06, 2014, online news and analysis portal Defence IQ has released its third annual 'Armoured Vehicles Market Report' for the period of 2014 and onwards, exploring how the future of the global armoured vehicles market is evolving.
The report - available for download at http://www.internationalarmouredvehicles.com/report - suggests that, despite much uncertainty, the market is expected to remain stable for the next seven years, with the majority of growth being driven by countries in the Asia-Pacific and Middle East and by those others with a strong need to replace their cold war era systems.
Expenditure in more established regions, primarily in North America and Europe, will continue in order to sustain existing capabilities, but fleet sizes will be reduced and new programmes limited. However, budget limitations will open more doors for multinational ventures and COTS solutions.
According to the report's survey, which was undertaken with input from hundreds of military personnel and industry professionals, the majority of international militaries are "confident" in their own regional growth and improvement, believing their armoured vehicles fleets to be more potent in 2023 than at present. India, Saudi Arabia, the UAE, Brazil and Turkey are perceived as the top growth hotspots, respectively.
Meanwhile, blast protection and counter-IED measures are still viewed as the most critical capabilities above the likes of ballistic protection or mobility. Mine-Resistant Ambush Protected Vehicles top the list of options most in demand for armies in the foreseeable future, followed closely by Armoured Personnel Carriers and Light Protected Patrol Vehicles.
The International Armoured Vehicles 2014 event will return to Farnborough, UK, with British Army Head, General Sir Peter Wall, and Minister for Defence Equipment, Support and Technology, Philip Dunne among the keynote presenters. The event will be incorporating a new focus on Blue Light vehicles alongside its traditional military scope.
SOURCE Defence IQ