DUBLIN, May 17, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Armored Vehicles Market by Application, Defense Products, Commercial Products, Technology, Type, & Region - Global Forecast to 2021" report to their offering.
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The global armored vehicles market is projected to grow from USD 23.75 Billion in 2016 to USD 31.26 Billion by 2021, at a CAGR of 5.6% during the forecast period. Factors such as rising crime in the form of gang violence, kidnapping, and terror activities wars and cross-border disputes, and increasing civilian use of armored vehicles are expected to drive the growth of the global armored vehicles market during the forecast period of 2016 to 2021.
On the basis of application, the given market has been segmented into defense and commercial. The commercial segment is projected to grow at the highest CAGR during the forecast period of 2016 to 2021. The rising demand for armored vehicles can be attributed to several factors, including self-defense or protection, rising political disputes, polarization of civilians leading to civil unrest, and so on.
The armored vehicles market is dominated by the commercial SUV segment, which is most commonly used by those who want to reach their destination in a safe manner. High ranking politicians, entrepreneurs, all categories of VIPs, ambassadors intend to use armored vehicles or SUVs for official use. This segment is also expected to witness the highest growth in the coming years, owing to several benefits provided by this segment, including durability, precision, efficiency, providing good gas mileage and so on.
The growth of the armored vehicles market could, however, be affected by certain major restraints in the coming years. These factors include declining defense budgets of developed economies of the world, such as the U.S., Canada, the U.K., Germany, and so on.
- BAE Systems, PLC
- BMW AG
- Elbit Systems
- Ford Motor Company
- General Dynamics Corporation
- Lockheed Martin Corporation
- Mercedes-Benz (Division of Daimler AG)
- Oshkosh Defense
- Textron Inc.
- Volkswagen AG
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Armored Vehicles Market, By Application
8 Defense Armored Vehicles Market, By Product
9 Commercial Armored Vehicles Market, By Product
10 Defense Armored Vehicles Market, By Type
11 Armored Vehicles Market, By Technology
12 Region Analysis
13 Competitive Landscape
14 Company Profiles
For more information visit http://www.researchandmarkets.com/research/fh5qnj/armored_vehicles
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SOURCE Research and Markets