Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Armoured Personnel Carrier (APC) market is a complex one, influenced by several market factors. The geopolitical landscape is the major factor that affects the demand for APCs. National security threats and political conflicts have made it necessary to manufacture strong armored vehicles. Peacekeeping efforts in regions undergoing conflict and regional tensions further increase or decrease the APC market among many other reasons why defense forces upgrade their capabilities to combat specific problems they face. However, procurement decisions are greatly shaped by geopolitics.
Defense budgets and government spending are key market drivers as well. This means that any change in defense modernization programs would have an enormous impact on the APC market. Funding for procurement of armoured vehicles is determined by economic conditions, national aspirations, and strategic considerations. Budget fluctuations of defense departments can make changes in purchasing volumes and therefore affect overall growth of APC’s market trends globally. They seek opportunities brought about by shifts in military spending.
Technological developments and innovations have a huge influence on the APC market as well. As defence technologies continue to evolve, manufacturers must continuously invest in research and development to remain competitive. For their relevance in modern warfare, APCS need advanced features such as improved ballistics protection, enhanced communication systems, upgraded mobility capabilities among others. Market leaders often distinguish themselves from other firms through their ability to infuse advanced technologies into tanks thereby dictating which models are purchased by military organizations globally.
The regulatory factors shape this industry too; those include export controls as well as international agreements implemented within this sector wherein APC operates within a framework of regulation with its own distinct characteristics . That means that manufacturing companies find themselves dealing with difficult import/export regulations when it comes to trading armored vehicles across borders internationally .For one to access markets compliance with international standards needs to be adhered while arbitrary regulatory changes can disrupt supply chains leading to price fluctuations hence affecting all pricing mechanisms.The dealership dynamics can be predetermined by restrictions on exports along with importation conditions.
The nature of emerging threats and conflicts also shapes the APC market. This is because asymmetric warfare, use of guerilla tactics, increased utilization of improvised explosive devices (IEDs) necessitate the production of more resilient APCs or those with countermeasures. In this regard, manufacturers have had to come up with vehicles that can either survive in a wide range of hazards leading to innovations in armor technology as well as features that enhance personnel and equipment protection . The ability of APC’s market success depends on their capacity to adjust its self within new threat landscape.
Market competition is inherent in the dynamics of the APC market. Competition drives down prices because there are numerous producers competing for contracts and shares within each nation’s Defense sector. As a result, companies strive towards high quality products at reasonable costs which have led to improvements in design, improved performance as well as total cost value. Companies’ manufacturing capabilities , global presence, and provision for holistic solutions that meet specific military requirements are other factors considered under competitive dynamics.
International collaborations and alliances contribute to the market dynamics of APCs. They include partnerships among manufacturers from different countries with an aim of sharing resources, pooling expertise and coming up with tech-oriented solutions . These partnerships involve more than just making armored cars better; they also ease standardization across platforms thus promoting interoperability between national armies allied in battle fields.-These alliances often dictate buying decisions at country level thereby affecting geographic distribution patterns drugs stolen
Armoured Personnel Carrier Market Highlights:
Global Armoured Personnel Carrier (APC) Market Overview
Armored Personnel Carrier (APC) Market Value To Reach USD 5,632.84 Million By 2030 At 4.90% CAGR By 2023-2030
Armoured Personnel Carrier (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.
Factors such as focus on preventing riots in urban areas and rising incidences of asymmetric warfare are positively impacting the armoured personnel carrier market growth. In addition, the rise in defense expenditure, especially in emerging economies and subsequent investments in procuring armored vehicles to strengthen combat and tactical capabilities further boosts the market growth. However, factors such as delays in procurement processes hinders the market growth to a certain extent while enhancing protection, configuration, mobility and weaponry without significant increase in weight and cost of the APCs is a key challenge faced by the market players. Meanwhile, rising terrorist attacks and focus on counter operations, and aging combat vehicle upgradation programs being initiated by many countries throughout the world, create promising growth opportunities for the armoured personnel carrier market. Companies are also keen on developing an integrated solution covering multiple systems for maximum tactical and strategic mobility.
Based on type, the tracked armoured personnel carrier segment accounted for the largest market share as it offers better mine resistance and higher mobility in rough terrains which is common in most battlefields. Based on configuration, the amphibious armoured personnel carrier segment is projected to witness the highest CAGR as these are ideal for ship to shore maneuvers. Based on end-user the military segment accounted for the largest market share as various countries are deploying these vehicles mainly for combat activities and national defense.
North America is estimated to account for the largest share during the review period. North America region in this report includes the US and Canada. Focus by the U.S. Department of Defense (DOD) on procuring armored vehicles, in the recent years, have resulted in the market witnessing a significant surge in demand, in this region. Moreover, the current military operations and exercises in the Middle East countries will also result in the US focusing on developing such vehicles, which will further deepen the scope of the market in the region.
Intended Audience
- Armored Vehicle Manufactures
- Component Providers
- Defense Organizations
- Defense Electronics Suppliers
- Research Institutes
- Regulatory Bodies
Key Players
The key players in the global armoured personnel carrier market 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.Åž (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.Åž. (Turkey), DRB-HICOM Defence Technologies Sdn. Bhd. (DefTech (Malaysia)), Paramount Group (South Africa), Iveco - Oto Melara Consortium (Italy) and Hanwha Defense Systems (South Korea).
Recent Development
General Dynamics: General Dynamics is the manufacturer of the Stryker armored vehicle, which is one of the most widely used APCs in the world. The company is currently developing a new variant of the Stryker, called the Stryker Dragoon, which is equipped with a 30mm cannon and a launcher for ATGMs.
Rheinmetall: Rheinmetall is a German company that manufactures a wide range of military vehicles, including the Fuchs APC. The company recently announced that it is developing a new version of the Fuchs, which will be equipped with a number of new features, including an improved mine protection system and a new engine.
Hanwha Defense: Hanwha Defense is a South Korean company that manufactures the KIFV APC. The company recently announced that it is developing a new variant of the KIFV, which will be equipped with a number of new features, including an active protection system and a new remote weapon station.
Research Methodology
The market numbers and forecast derived were the outcome of our disciplined research methodology which includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.
Secondary Research
In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, Aerospace & Defense magazines, white papers, corporate presentations, company websites, some paid databases and many others.
Primary Research
In this process, both demand side and supply side parties were involved to extract genuine facts and insights about market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.
Report Key Insights
- Market Sizing, Forecast and Analysis: Detailed coverage on market segment and its sub segments
- Regional / Country Trend and Forecast: Detailed analysis on North America, Asia Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions
- Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis
- Technology Trend, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A
- Regional attractiveness and related growth opportunities
Report Customization
MRFR offers report customization to our valued customers. Below are the options available for customization:
- Company Profiles
In-depth profiling of additional market players (3 to 4 companies)
- Country Level Analysis
Detailed analysis of a country and its related segment as per the report scope (subject to data availability)
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
