Armored Vehicle Fire Suppression Systems Market Analysis

Armoured Vehicle Fire Expression Systems Market Overview:

Armored Vehicle Fire Suppression Systems Market is expected to grow USD 1.981 Trillion at a CAGR 6.4% by 2022-2032

Government agencies and regulatory bodies have set criteria for products like fire prevention systems to contain fire outbreaks. Flame detectors and smoke control equipment are included in this system to help in the event of a fire. Sprinkler systems and alarm valves are the most popular fire safety systems. Several technologies have been developed to detect and react to fire smoke or flame. As opposed to the conventional heat or smoke devices employed in the past, the introduction of fire prevention systems has assisted in reacting to fires swiftly and correctly. Additionally, installing fire sensors and detectors in business buildings is a perfect and reasonably priced safety solution.

There is little room for soldier body mobility in the crew compartment of armoured combat vehicles, such as infantry fighting vehicles. This worsens a dangerous scenario in which the passengers risk suffering fatal fire burns or suffocating from smoke inhalation. Most current fire suppression systems are solid-based; however, recent technological breakthroughs have led to the development of gas-based armoured vehicle fire suppression systems that are less corrosive and capable of extreme oxygen deprivation.

Depending on the scenarios the platform is anticipated to function in, the different configurations call for installing a multifaceted fire suppression system. Because of this, it is predicted that over the forecast period, there will be a growth in the need for fire suppression systems and components for line fit and retrofit operations.

COVID-19 Analysis

The impact of the COVID-19 pandemic on the global armored vehicle fire suppression systems market has been low to moderate, depending upon the economy. In 2020, the military revenues and expenditures of major economies around the world increased even after the contraction of GDP due to the COVID pandemic and its impact on the global economic growth.

According to Stockholm International Peace Research Institute (SIPRI), the top five largest military spenders―the US, China, India, Russia, and the UK―alone accounted for 62% of estimated global military expenditure in 2020. Some countries, including South Korea, and Chile, have reallocated a portion of their military budget towards pandemic response, while some, including Russia and Brazil, decided to continue with military budget cuts. Overall, the impact of the pandemic has been nearly insignificant on military spendingand on the demand for armored vehicle fire suppression systems.

Market Dynamics

Drivers

Rising Defense Expenditure

Over the last decade, the world has witnessed robust growth in capital expenditure from the governments to bolster their military strength. Despite the COVID-19 pandemic shock to the global GDP growth, the defense budgets and revenues are expected to remain stable, in general, for defense contractors during the forecast period. Much of this can be attributed to the rising geopolitical tensions which make the military programs critical to the national defense. According to SIPRI, the global military expenditure increased to USD 1,981 billion in 2020, an increment of 2.6% from 2019. During the same period, the global GDP decreased by 4.2%, owing primarily to the economic shocks of the pandemic. Thus, the military burden, calculated as military expenditure as a share of GDP, witnessed an increase of 0.2%, reaching a global average of 2.4% in 2020. The 0.2% increment in military expenditure was the largest year-on-year military burden increment since 2009’s global economic crisis.

The military expenditure of the US alone accounted for USD 778 billion in 2020, marking a rise of 4.4% over 2019 and adominant share of 39.27% in the global military spending in 2020.Significant investment in R&D and increased spending in long-term projects, including modernization of US nuclear arsenal and procurement of large-scale arms. With an estimated military expenditure of USD 252 billion in 2020, China is the second-largest military spender. Despite the pandemic shock to the GDP growth, most countries increased their military spending in 2020. Amidst the rising geopolitical tensions and military spending towards R&D, the major economies are expected to continue increasing their military spending, thereby driving the growth of the global armored vehicle fire suppression systems market during the forecast period.

Opportunities

Increasing Demand for Cutting-Edge Fire Detection and Suppression System Actuation Technology

Over the recent years, the demand for advanced fire detection and actuation system has risen in the global armored vehicle suppression systems market. These systems are engineered to withstand extreme operating conditions.These systems are designed to detect a fire and extinguish it right away while the armored vehicle is in operation.

With innovations& advancements in electronics and heavy military spending, the demand for cutting-edge actuation technology offers lucrative opportunities for the players in the global armored vehicle fire suppression systems market.

Restraints

Environmental Concerns Posed by Fire Suppression Agents Used in the Fire Suppression Systems

Fire suppression systems are essential to military vehicles as they carry explosives and flammable fluids, which can cause considerable damage and fatalities in accidents or combats. The fire suppression systems used in these armored military vehicles use fire suppression chemical compounds or agents to suppress fire caused during an accident/combat. Most of these suppression agents are not environment-friendly. These suppression agents usually have high global warming potential (GWP) but offer advantages, such as high fire suppression efficiency, compact storage, and high compatibility with materials.Thus, environmental concerns posed by fire suppression agents are expected to restrict the growth of the armored vehicle fire suppression systems marketduring the study period.

However, with the emergence of clean agent fire suppression systems, environmental concerns can be significantly resolved. These clean agent fire suppression systems are seen as long-term replacements of the high GWP chemical suppression agents.

Cumulative Growth Analysis

Rising Demand for Fast-acting Fire Protection Solutions to Bolster Market’s Growth Rate

The global armored vehicle fire suppression systemsmarket is forecasted to register a growth rate of 6.4% over the analysis period (between 2021 and 2027) onaccount of rising demand for fast-acting fire protection solutions.

Segment Overview

Increasing Focus on Improving Damage Protection Against Fire to Drive the Market Growth for Fire Suppression Systems in Combat Vehicles

The global armored vehicle fire suppression systems market based on vehicle type has been segmented into combat vehicles, troop transport vehicles, and others. Combat vehicles are loaded with explosives; therefore, they need to be protected against fire to avoid any damage. As a result, the military has been focusing on increasing damage protectionagainst fire for combat vehicles. Thus, the demand for fire suppression systems in these vehicles is increasing, thereby driving the growth of the demand forcombat vehicle fire suppression systems in the vehicle type segment during the forecast timeline.

Wheeled Vehicles to GenerateStrongerDemand for Fire Suppression Systems

Based on platform type, the global aircraft armored vehicle fire suppression systems markethas beendivided into wheeled vehicles and tracked vehicles.The wheeled vehicles segment is expected to dominate the market for fire suppression systems during the forecast period. This growth can be ascribed to the preference forwheeled platforms when it comes to armored vehicles. There are several parameters based on whichthe wheeled platforms are preferred over trackedones,such asspeed, stealth, on-road mobility, maintenance costs, fatigue, which make it favorable for transportation of troops and arms & explosives. Compared to wheeled vehicles, tracked vehicles offer a few advantages, including better off-road mobility and survival ability on the battlefield. Therefore, the wheeled vehicles segment is forecasted to dominate the global market during the forecast period.

Regional Analysis

Robust Growth in the US Military Expenditure Expected to Help North America Dominate the Global Market

Over the past decade, North America witnessed strong growth in thedemand for fire suppression systems for armored vehicles and is expected to continue dominating the global market during the forecast timeline. The US has been single-handedly responsible for this robust growth in the North America armored vehicle fire suppression systems market, which can be ascribed to the country’s mammoth military spending.The country has been, and continuesto be, the country with the world’s largest military expenditures and revenues. Besides being the world’s largest military spender, the country is also home to the world’s leading defense contractors, making it the leading market for armored vehicle fire suppression systems for armored vehicles. The US military has been investing heavily in designing and developing fire suppression systems for its combat and troop transport vehicles.The country’s military expenditure alone accounted for 39% of global military expenditure in 2020. Therefore, with the US investing heavily in R&D and modernization of its combat vehicles, the North America armored vehicle fire suppression systems market is estimated to register strong growth during the forecast period.

APAC Forecasted to Grow at the Fastest Ratewith China leading

Asia-Pacific armored vehicle fire suppression systems market is estimated to grow at the fastest rate, owing to the increasing military spending by major economies in the region.The region is the largest and most diverse region in the world and consists of major established and emerging economies.The region is comprised of five sub-regions― China, Oceania, Northeast Asia, Southeast Asia, and South Asia.These sub-regions are characterizedby their ownunique market dynamics.

China leads the Asia-Pacific armored vehicle fire suppression systems market, owing to its sizeable military spending, which is highest in the region and second highest in the world. According to SIPRI, the country alone accounted for almost USD 252 billion in 2020, an increment of 1.9% over 2019. Also, in terms of military expenditure, China has witnessed the longest series of successive increments for the past 26 years.The majority of the country’s military expenditure has been towards long-term modernization and expansion plans. China’s military expenditure reflects its far-ranging efforts to become a military superpower.Besides China, other major economies in the region, such as India (USD 72.9 billion), Japan (USD 49.1 billion), South Korea (USD 45.7 billion), Australia (USD 27.5 billion), also increased their military spending in 2020 as well as over the last decade (2011–2020). Thus, the APAC armored vehicle fire suppression systems market is expected to grow at the fastest rate during the forecast period.

Competitive Landscape

Significant Investments by Players to Intensify Competition

The global armored vehicle fire suppression systems market is expected to grow significantly in the coming years due to the increase in military spending in the major economies worldwide and advancements in defense technology. The global armored vehicle fire suppression systems market is characterized by the presence of several global and regional vendors. The global market is highly competitive, with all the players trying to gain maximum market share. Frequent changes in government policies, intense competition, and government regulations are the key factors that impact global market growth. The vendors compete based on cost, product quality, and reliability.List of Key Companies Covered in this Report

• Fire Protection Technologies Pty Ltd. (Australia)


• Spectrex Inc. (US)


• Halma plc (UK)


• N2 Towers Inc. (Canada)


• Marotta Controls Inc. (US)


• Bulldog Direct Protective Systems (US)


• Nero Industries (Turkey)


• Mikro-Pulssi Oy (Finland)


• Kidde-Deugra Brandschutzsysteme GmbH (Germany)


• ExploSpot Systems Pty Ltd (South Africa)

Recent Developments

The market for fire suppression systems for armoured vehicles is quite competitive, as seen by several well-known companies vying for a bigger market share.

N2 Towers Inc., Spectrex Inc., and Fire Protection Technologies are some well-known industry participants. It is anticipated that the defence sector's tight safety and regulatory rules would limit the admission of new firms.

Report Overview

Scope of the Report

The scope of the report highlights drivers, opportunities, restraints, and challenges surrounding the global market. With easy-to-comprehend segmentation that includes operation, platform, and region, MRFR projections are based on historical and expected trends. Major firms active in the global market have been profiled and paired with the top strategies employed by them to remain competitive in the industry.

Segmentation Table

Vehicle Type

• Combat Vehicles


• Troop Transport Vehicles


• Others

Platform Type

• Wheeled Vehicles


• Tracked Vehicles