Armoured Personnel Carrier Industry- Regional Share, CAGR Growth Product by Type - 2027

Market Overview:

Armored Personnel Carrier (APC) Market Value to Reach USD 5,632.84 Million By 2027 At 4.66% CAGR By 2020-2027.

The market for armoured personnel carrier industry is expanding favourably because of factors including the emphasis on preventing riots in metropolitan areas and the increase in asymmetric warfare incidents. The increase in defence spending, particularly in emerging nations, and the ensuing investments in armoured vehicle procurement to bolster combat and tactical capabilities also contribute to the market's expansion. The market players' main challenge is to improve protection, configuration, mobility, and weaponry without significantly increasing weight and cost of the APCs. However, constraints like procurement process delays restrain market growth to some level.

Armoured Personnel Carrier industry (APC) also termed as armoured combat vehicle, armoured car or infantry mobility vehicle is an armored vehicle designed to carry troops and equipment into the battlefield. APCs weighs less than the infantry fighting vehicles and main battle tanks, and hence are more mobile. Unlike the infantry fighting vehicles (IFV), APCs do not to take part in direct-fire battle and are primarily designed for transport. However, they are lightly armed for self-defence and are armored for protection against shrapnel, small arms and artillery fire. Furthermore, certain types of APCs are used by non-military organizations as well.

The armoured personnel carriers market CAGR is expected as a result of an increase in terrorist assaults, a focus on counteroperations, and global initiatives to upgrade aged combat vehicles. For optimum tactical and strategic mobility, businesses are also keen on establishing an integrated solution encompassing different platforms.

Key Players:

The key players in the global armoured personnel carrier industry are BAE Systems plc (UK), Krauss-Maffei Wegmann GmbH & Co. KG (Germany), Rheinmetall AG (incl. ARTEC GmbH (Germany)), Katmerciler A.S. (Turkey), Patria Oyj (Finland), General Dynamics Corporation (US), Otokar Otomotiv ve Savunma Sanayi A.Ş (Turkey), Military Industrial Company (Russia), KMDB A.A. Morozova (part of Ukroboronprom (Ukraine)), ST Kinetics Ltd. (Singapore), Terradyne Armored Vehicles Inc. (Canada), FNSS Savunma Sistemleri A.Ş. (Turkey), DRB-HICOM Defence Technologies Sdn. Bhd. (DefTech (Malaysia)), Paramount Group (South Africa), Iveco - Oto Melara Consortium (Italy) and Hanwha Defense Systems (South Korea).

Market Segmentation:

Based on type, the armoured personnel carriers market data is divided into wheeled and tracked. The tracked segment accounted for the largest market size while the wheeled segment is projected to witness the highest CAGR during the forecast period. Wheeled armoured personnel carriers are light, cheap, consumes less fuel, travels longer distances, faces less wear and are more flexible and deployable than traditional tracked vehicles.

Based on configuration, the armoured personnel carrier industry is divided into amphibious and non-amphibious. The non-amphibious segment is estimated to account for the largest market share while the amphibious segment is projected to witness a higher CAGR during the forecast period. The amphibious armoured personnel carriers reduce logistical demands and enables ship to shore maneuvers.

Based on end-user, the armoured personnel carrier industry is divided into military and law enforcement & others. The military segment is estimated to account for the largest market share while the law enforcement & others segment is projected to witness a higher CAGR during the forecast period. Nowadays, the armoured personnel carriers are widely used to transport special forces and equipment into the urban places for controlling riots.

Regional Analysis:

Based on region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. In 2017, North America accounted for the largest market share, whereas Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the procurement and indigenous development of these vehicles in countries such as China, and India. For instance, Kestrel a modern armoured personnel carrier was recently developed and manufactured by Defence Research & Development Organisation (DRDO) and TATA motors for the Indian Army.

Related reports:

Aircraft Interface Device Market: Information by Connectivity (Wired and Wireless), by Aircraft Type (Fixed-Wing and Rotary-Wing), by End-User (Civil and Military), by Fit (Line-fit and retrofit), and by Region, Forecast till 2030

Integrated Bridge Systems (IBS) Market: By Type (Radar System, Communication Console, and ECDIS), By Application (Commercial Ships and Naval Warships) and Region (North America, Europe, Asia Pacific, Latin America and the Middle East Africa) - Global Forecast Till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions.

Contact:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor, New York, New York 10013,

United States of America

+1 646 845 9312

Email: [email protected]