The leading market players in the global armored vehicles upgrade and retrofit market primarily include AM General, FNSS Savunma Sistemleri, MKU, Oshkosh Defense, Sabiex International, BAE Systems, Diehl Defence, Elbit Systems, General Dynamics, Palbam, Rheinmetall, and Thales Group.
Armored Vehicles Upgrade and Retrofit Market – Market Overview
Armoured vehicles include land combat and transportation vehicles used by military land forces for operations such as transporting cargo and military personnel and operating in active combat. These vehicles are protected by armour and in many cases armed with weapons. Armoured vehicles provide significant strength to a country’s army and are used in large numbers by military forces around the world.
The withdrawal of military troops from conflict regions such as Afghanistan, and defense budget cuts have led to a slowdown in procurement of new military vehicles in major markets (e.g. US and European countries). Many countries in Europe are also forced to either delay the procurement of military vehicles or reduce the number of vehicles to be procured. However, the western countries already have a large fleet of military vehicles. Since it is economical to upgrade and retrofit a fleet of vehicle rather than to procure an entire new fleet, many of the countries are aggressively spending on modernization and upgradation of military armoured vehicle.
Countries are also focusing to maintain an agile military forces that can be deployed readily as needed. The military modernization program has also led to a significant change in the armoured vehicles market and to the establishment of growing fleet of advanced vehicles that are suitable for modern-day warfare. The importance of "low-cost per mile" operations, modular vehicle design approach, and sophisticated vetronics has also increased.
Furthermore, emerging countries in APAC and the Middle East have aggresively increased their defense spending. Increasing demand for armoured vehicle modernization from such emerging countries will further contribute to the Armored Vehicles Upgrade and Retrofit Market growth during the forecast period.
In addition, military armoured vehicle manufacturers and vetronics system integrators are moving toward COTS solutions for new vehicles as well as vehicle retrofits. COTS solutions help in SWaP reduction and are also more cost-efficient to utilize.
One of the growing uses of COTS solutions is in smart displays for military armoured vehicles. Software utilized for such systems needs to provide seamless integration between different vetronics displays and should be well-defined for mission-critical applications. The Presagis VAPS XT is one of the widely used software that utilizes COTS HMI and OpenGL interface, applicable for different types of displays and touchscreens. In case a change in display is required, it is easier and more cost-effective to change the design code with this COTS-based software solution. A user can thus reconfigure a single operator station quickly for many different missions as required. The high-density COTS I/O solutions also reduce board count, weight, and power, enhancing overall system reliability and affordability.
Armored Vehicles Upgrade and Retrofit Market – Competitive Analysis
End-users of military armoured vehicles are shifting their focus from quantity to quality. There is also an increased emphasis on cost-efficiency for the operation of these vehicles. Low-cost per mile has been a growing requirement for modern military armoured vehicles. Maintaining a balance between cost and quality while providing upgrade and retrofit solutions to meet modern military needs can be a significant challenge for vendors.
Armored Vehicles Upgrade and Retrofit Market – Regional Analysis
The European economic crisis, which started since the end of 2009, has led to a dilemma in the Western defense market. Many countries have undergone defense budget cuts or downsized their military vehicle acquisition. However, the Ukrainian crisis (which began on November 2013) and expanding military buildup interests of Russia have put European countries on high alert to military threats in Europe. European countries, despite the unfavorable economic conditions, are pressured to maintain their military strength and the modernization of military systems, including military armoured vehicles. The ongoing or planned armored vehicle modernization in France, Germany, Italy, Poland, Sweden, and the UK are a testament to the ongoing military spending.
Aa, Morocco, Nigeria, and South Africa are few of the countries with substantial fleet of military armoured vehicles in Africa.
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What's Trending in Market:Rising Upgradation to Improve the Functionality and Capabilities of the VehiclesIncreasing Usage of New Materials for the Protection/Armor of the VehiclesChallenges:Decreasing National Defense BudgetsRestraints:High Cost of the VehiclesMarket Growth Drivers:The Rise in Terrorism and Hostile Activities around the WorldThe Growing Demand For “Low-Cost per Mile†Military VehiclesGlobal Armored Vehicles Upgrade and Retrofit Market Development Scenario by Players Ø Financials Information, Business Overview and Product Specification Matrix Ø Patent Analysis Briefing* [if applicable] Ø No.
of Patents Issuance by Year / by Players / By Issuing Office Ø Key Development – Product/Service Launch, Mergers & Acquisition, Joint Ventures Armored Vehicles Upgrade and Retrofit Market Competition Each company profiled in the research document is studied considering various factors such as product and its application portfolios, market share, growth potential, future plans, and development activity.
Yes, we can add or profile new company as per client need in the report, provided it is available in our coverage list as mentioned in answer to Question 1 and after feasibility run final confirmation will be provided by research team checking the constraints related to difficulty of survey.
2) Can we narrow the available business segments?
Yes, Country level splits can be modified in the study as per objectives.
Global Armored Vehicles Upgrade and Retrofit Market Information by Vehicle Type (Main Battle Tank, Light Protected Vehicles, Amphibious Armored Vehicles, Mine-Resistant Ambush Protected, Infantry Fighting Vehicles, Armored Personnel Carriers, and Others), Design (Wheeled Armored Vehicles and Tracked Armored Vehicles) - Forecast To 2023.Market Scenario:Armored vehicles include land combat and transportation vehicles used by military land forces for operations, such as transporting cargo and military personnel and operating in active combat.
The majority of the military forces in the West (including the U.S. which has an existing fleet of a large fleet of military armored vehicles) have ongoing or planned military modernization programs to equip troops with the latest capabilities.
Furthermore, there is growing demand for "low-cost per mile" military vehicles, and the existing systems are upgraded to improve the functionality and capabilities of the vehicles.
Increased Swap reduction in military vehicles and systems is given high priority and has further driven the demand for vehicle upgrade.There are engineering challenges related to the design and deployment of Session Border Controller (SBC) for use in high-end military vehicles.
There are also issues related to the cooling technologies currently used in these vehicles.
As a result of the mechanical nature of the cooling systems (including fans), they are prone to failure, which leads to increased maintenance costs.
