Armored Vehicle Fire Suppression Systems Market Report Scope & Overview:
The Armored Vehicle Fire Suppression Systems Market Size was valued at USD 22.65 million in 2022 and is expected to reach USD 30.76 million by 2030 and grow at a CAGR of 3.9% over the forecast period 2023-2030.
A fire suppression system for armored vehicles is intended to keep a fire from spreading. It extinguishes fires by applying an external chemical after detecting a fire or sounding a fire alarm. Due to increased defense expenditure and developments in defense technology, the worldwide armored vehicle fire suppression systems market has experienced rapid growth in recent years. However, environmental issues raised by the fire suppression compounds employed in these systems are projected to limit market expansion to some extent.
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MARKET DYNAMICS
KEY DRIVERS
Growing defense expenditure
Global economic crisis
RESTRAINTS
Environmental concerns
High compatibility
OPPORTUNITIES
Increasing Demand of Cutting-Edge Fire Detection
Enhancing electronics
Innovation
CHALLENGES
This section is included in the final report.
THE IMPACT OF COVID-19
The impact of the COVID-19 epidemic on the global fire truck systems market has been moderate to moderate, depending on the economy. By 2022, the income and expenditure of the world's largest military forces have increased even after the GDP decline due to the COVID epidemic and its impact on global economic growth. According to the Stockholm International Peace Research Institute (SIPRI), major spending spans in the US-China, China, India, Russia, and the UK― alone accounted for 62% of global military spending by 2022. Some countries, including South Korea, as well as Chile, have redistributed part of their military budget to deal with the epidemic, while others, including Russia and Brazil, have decided to continue reducing military spending. Overall, the impact of the epidemic has almost diminished the military and the need for firefighting programs.
By Vehicle Type
The global armored vehicle fire suppression systems market is divided into combat vehicles, troop transport vehicles, and others. Because combat vehicles are equipped with explosives, they must be protected from fire to avoid damage. As a result, the military has focused on improving combat vehicle damage protection against fire. As a result, demand for fire suppression systems in these vehicles is increasing, fueling the rise in demand for combat vehicle fire suppression systems in the vehicle type segment throughout the projection timeline.
By Platform Type
The global market for aviation armored vehicle fire suppression systems is divided into two segments: wheeled vehicles and tracked vehicles. During the projected period, the wheeled vehicles segment is expected to dominate the market for fire suppression systems. This expansion can be attributed to the desire for wheeled platforms in armored vehicles. There are various factors that favor wheeled platforms over tracked ones, including speed, stealth, on-road mobility, maintenance costs, and fatigue, making them ideal for troop and weaponry and explosives delivery. Tracked vehicles have several advantages over wheeled vehicles, including superior off-road mobility and warfare survival. As a result, the segment of wheeled vehicles is expected to dominate the global market throughout the forecast period.
Competitive Landscape
The global armored vehicle fire suppression systems market is predicted to grow significantly in the future years as military spending increases in key nations throughout the world and defense technology advances. The presence of various worldwide and regional vendors distinguishes the global armored vehicle fire suppression systems market. The worldwide market is extremely competitive, with all firms attempting to achieve the greatest possible market share. The primary variables influencing the global market growth include frequent changes in government policies, fierce rivalry, and government restrictions. The vendors compete on price, product quality, and dependability.
By Vehicle Type
Combat Vehicles
Troop Transport Vehicles
Other Vehicle Types
By Platform Type
Wheeled Vehicles
Tracked Vehicles
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Regional Analysis
Strong US Costs of US Military Expected to Help North America Rule the World Market Over the past decade, North America has seen strong growth in demand for firefighting firearms systems and is expected to continue to dominate the global market at the time of forecasting. The United States has contributed to this strong growth in the North American automotive fire extinguishing market, which could account for the country's largest military use. costs and income. In addition to being the world's largest military exporter, the country is also home to some of the world's leading defense contractors, making it a leading market for firefighting firearms systems.
The U.S. military has invested heavily in the design and development of firefighting systems for its military vehicles and military transport. World military spending alone accounts for 40% of global military expenditure by 2022. Therefore, as the US invests more in R&D and modernization of its combat vehicles, the North American automotive compression systems market is projected to record strong growth during the forecast period. The Asia-Pacific armored vehicle fire suppression systems market is expected to develop at the quickest rate, owing to increased military spending by the region's main economies. The region is the world's largest and most diversified, with major established and rising economies. China, Oceania, Northeast Asia, Southeast Asia, and South Asia are the five subregions of the region. These sub-regions are distinguished by their distinct market dynamics. China is the market leader in Asia-Pacific armored vehicle fire suppression systems.
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 Key Players are Fire Protection Technologies Pty Ltd., Spectrex Inc., Halma plc, N2 Towers Inc., Marotta Controls Inc., Nero Industries, ExploSpot Systems Pty Ltd, Mikro-Pulssi Oy, Bulldog Direct Protective Systems, Kidde-Deugra Brandschutzsysteme GmbH & Other Players./
Spectrex Inc-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 22.65 Billion |
| Market Size by 2030 | US$ 30.76 Billion |
| CAGR | CAGR of 3.9% 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 Vehicle Type (Combat Vehicles, Troop Transport Vehicles, Other Vehicle Types) • by Platform Type (Wheeled Vehicles, Tracked 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 | Fire Protection Technologies Pty Ltd., Spectrex Inc., Halma plc, N2 Towers Inc., Marotta Controls Inc., Nero Industries, ExploSpot Systems Pty Ltd, Mikro-Pulssi Oy, Bulldog Direct Protective Systems, Kidde-Deugra Brandschutzsysteme GmbH |
| Key Drivers | • Growing defense expenditure • Global economic crisis |
| RESTRAINTS | • Environmental concerns • High compatibility |
The market size of the Armored Vehicle Fire Suppression Systems Market was valued at USD 22.65 million in 2022.
The key players of the Armored Vehicle Fire Suppression Systems Market are Fire Protection Technologies Pty Ltd., Spectrex Inc., Halma plc, N2 Towers Inc., Marotta Controls Inc., Nero Industries, ExploSpot Systems Pty Ltd, Mikro-Pulssi Oy, Bulldog Direct Protective Systems, and Kidde-Deugra Brandschutzsysteme GmbH.
The growth rate of the Armored Vehicle Fire Suppression Systems Market is 3.9% over the forecast period 2023-2030.
The Armored Vehicle Fire Suppression Systems Market is segmented into 2 types: By Platform Type and By Vehicle Type.
North America region dominated the Armored Vehicle Fire Suppression Systems Market.
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. Global Armored Vehicle Fire Suppression Systems Market, by Vehicle Type
8.1 Combat Vehicles
8.2 Troop Transport Vehicles
8.3 Other Vehicle Types
9. Global Armored Vehicle Fire Suppression Systems Market, by Platform Type
9.1 Wheeled Vehicles
9.2 Tracked Vehicles
10. Regional Analysis
11. Company Profiles
11.1 Fire Protection Technologies Pty Ltd.
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Spectrex Inc.
11.3 Halma plc
11.4 N2 Towers Inc.
11.5 Marotta Controls Inc.
11.6 Bulldog Direct Protective Systems
11.7 Nero Industries
11.8 Mikro-Pulssi Oy
11.9 Kidde-Deugra Brandschutzsysteme GmbH
11.10 ExploSpot Systems Pty Ltd
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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