The Armorred Personnel Carrier Market Size was valued at USD 13.23 billion in 2022 and is expected to reach USD 20.92 billion by 2030 with a growing CAGR of 5.9% over the forecast period 2023-2030.
The APCs weigh less than the newborn war chariots and the main battle tanks so they go much further. Unlike infants (IFVs), APCs do not participate in direct fire fighting and are designed to transport. However, they are well equipped to defend themselves and armed to protect themselves from reduced weapons, small arms, and shotguns. In addition, certain types of APCs are used by non-military organizations.
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The growth of the global arms market is due to the increasing cost of war and the increase in terrorist incidents worldwide. In addition, the modern manufacture of armored vehicles also drives the growth of the market carrying armed workers. However, issues related to heat management technology and high vibration and noise associated with the APC process are expected to disrupt the market in a negative way. In contrast, technological advances and the introduction of new armored vehicles are expected to provide significant growth opportunities in the labor market carrying armed workers.
MARKET DYNAMICS
KEY DRIVERS
Increasing demand for armoured vehicles due to an increase in cross-border conflicts
Terrorist attacks are becoming more common. Armoured vehicle fleet modernization
RESTRAINTS
Thermal management technologies problems
Tracked apcs are associated with high vibrations and sounds
CHALLENGES
Main combat tanks are expensive
Issues of Survivability
OPPORTUNITIES
Armoured vehicle development that is modular and scalable
Increased use of unmanned combat ground vehicles by many countries' military forces
THE IMPACT OF COVID-19
The COVID-19 pandemic has had a multifaceted influence on world economies. Global automotive part, component, and assembly line manufacturing has been badly hit. Although the construction of armoured vehicles is critical, supply chain issues have slowed production for the time being.
The level of COVID-19 exposure a country faces, the level at which manufacturing operations are running, and import-export rules, among other factors, all influence the resumption of armoured vehicle manufacturing and deliveries. Although businesses may still accept orders, delivery timetables may not be fixed.
The worldwide armoured personnel carrier market has been divided into two types based on design: wheeled APC and tracked APC. The wheeled APC category dominated in terms of value and is predicted to grow at a rapid pace throughout the forecast period. Because of the lower friction losses, wheeled APCs often offer superior fuel efficiency than tracked APCs. As a result, wheeled APC have wider operational ranges. Furthermore, wheeled APCs are less expensive and require less maintenance and spare parts than tracked APCs, making wheeled APCs more reliable than tracked APCs.
The global armoured personnel carrier market is divided into two types: amphibious and non-amphibious. Amphibious APCs are frequently outfitted with propellers or water jets, or they are propelled by their tracks. The speed of water traversal varies widely between vehicles and is much slower than terrestrial speed. The armoured vehicles market has been divided into combat vehicles, combat support vehicles, and unmanned armoured ground vehicles based on platform. During the forecast period, the combat vehicle sector is expected to lead the armoured vehicles market. Global demand for Armored Personnel Carriers and Light Armored Vehicles is driving expansion in the combat vehicle section of the market.
By Mode of Operation
Manned
Unmanned
By Type
Electric
Conventional
By Mobility
Wheeled
Tracked
By System
Engine
Drive Systems
Ballistic Armor
C2 Systems
Mode of Operation
By Platform
Combat Vehicles
Combat Support Vehicles
Unmanned Armored Ground Vehicles
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REGIONAL ANALYSIS
The Asia Pacific armored market market is expected to grow at a very high CAGR from till 2028. . Countries like India and China have increased their defense budget and purchased advanced armored vehicles to carry out their military duties. This, in turn, is expected to further the growth of the Asia Pacific armored market during the forecast period.
The latest pandemic of COVID-19 is expected to have an impact on the global automotive industry, including the armaments industry. The entire supply chain is disrupted due to limited availability of components. Chinese suppliers around the world have suspended production lines or closed them altogether. Also, legal and commercial restrictions, such as closed borders, increase the shortage of required components. Such disruptions in the supply chain are expected to affect the integration of OEMs in Europe and North America.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are General Dynamics Corporation, BAE Systems plc, NORINCO, Rheinmetall AG, Textron Inc, Oshkosh Corporation, UralVagonZavod, Ukroboronprom, Katmerciler A.S., KMDB A.A., and other players.
General Dynamics Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 13.23 Billion |
| Market Size by 2030 | US$ 20.92 Billion |
| CAGR | CAGR of 5.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Mode of Operation (Manned, Unmanned) • By Mobility (Wheeled, Tracked) • By Type (Electric, Conventional) • By System (Engine, Drive Systems, Ballistic Armor, C2 Systems, Mode of Operation) • By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | General Dynamics Corporation, BAE Systems plc, NORINCO, Rheinmetall AG, and Textron Inc, Oshkosh Corporation, UralVagonZavod, Ukroboronprom, Katmerciler A.S., KMDB A.A., and other players. |
| DRIVERS | • Increasing demand for armoured vehicles due to an increase in cross-border conflicts • Terrorist attacks are becoming more common. Armoured vehicle fleet modernization |
| RESTRAINTS | • Thermal management technologies problems • Tracked apcs are associated with high vibrations and sounds |
According to SNS insiders, the Armored Personnel Carrier Market size was USD 12.49 billion in 2021 and is expected to reach USD 18.66 billion by 2028 with a CAGR of 5.9% over the forecasted period.
Main combat tanks are expensive and Issues of Survivability
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Armored Personnel Carrier Market Segmentation, by Mode of Operation
8.1 Manned
8.2 Unmanned
9. Armored Personnel Carrier Market Segmentation, by Type
9.1 Electric
9.2 Conventional
10. Armored Personnel Carrier Market Segmentation, by Mobility
10.1 Wheeled
10.2 Tracked
11. Armored Personnel Carrier Market Segmentation, by System
11.1 Engine
11.2 Drive Systems
11.3 Ballistic Armor
11.4 C2 Systems
11.5 Mode of Operation
12. Armored Personnel Carrier Market Segmentation, by Platform
12.1 Combat Vehicles
12.2 Combat Support Vehicles
12.3 Unmanned Armored Ground Vehicles
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 General Dynamics Corporation
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 BAE Systems plc
14.3 NORINCO
14.4 Rheinmetall AG
14.5 Textron Inc
14.6 Oshkosh Corporation
14.7 UralVagonZavod
14.8 Ukroboronprom
14.9 Katmerciler A.S.
14.10 KMDB A.A
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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