Report

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Global Military Armored Vehicles And Counter-IED Vehicles Market 2025-2029

The Global Market for Armored Vehicles and Counter-IED Solutions

The global market for military armored vehicles and counter-IED solutions is poised for significant growth, with a projected CAGR of 5.1% from 2024 to 2029. This expansion, valued at USD 8.86 billion, is driven by escalating geopolitical tensions, evolving threats, and the increasing reliance on advanced technologies in modern warfare.

Key Market Drivers:

  • Asymmetric Warfare: The rise of unconventional warfare tactics has necessitated the development and procurement of robust armored vehicles.
  • Technological Advancements: The integration of cutting-edge technologies, such as advanced armor systems, active protection systems, and autonomous capabilities, is enhancing the performance and survivability of armored vehicles.
  • Counter-IED Measures: The persistent threat of improvised explosive devices (IEDs) has fueled the demand for specialized counter-IED vehicles and technologies.

Market Segmentation:

The market is segmented by:

  • Product Type:
    • Infantry Fighting Vehicles (IFVs)
    • Armored Personnel Carriers (APCs)
    • Main Battle Tanks (MBTs)
    • Self-Propelled Howitzers (SPHs)
    • Other armored vehicles
  • Mobility Type:
    • Wheeled
    • Tracked
  • Geography:
    • APAC
    • North America
    • Middle East and Africa
    • Europe
    • South America

Future Outlook:

As the global security landscape continues to evolve, the demand for sophisticated armored vehicles and counter-IED solutions is expected to remain strong. Key players in the industry are focused on innovation, technological advancements, and strategic partnerships to capitalize on this growing market opportunity.

TABLE OF CONTENTS

1 Executive Summary  

1.1 Market overview

  • Executive Summary
  • Chart on Market Overview
  • Data Table on Market Overview
  • Chart on Global Market Characteristics
  • Chart on Market by Geography
  • Chart on Market Segmentation by Product
  • Chart on Market Segmentation by Mobility Type
  • Chart on Incremental Growth
  • Data Table on Incremental Growth
  • Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

  • Parent market
  • Market Characteristics

3 Market Sizing

3.1 Market definition

  • Offerings of vendors included in the market definition
  • Market segment analysis
  • Market segments

3.2 Market size 2023

3.3 Market outlook: Forecast for 2024-2029

  • Chart on Global - Market size and forecast 2024-2029 ($ million)
  • Data Table on Global - Market size and forecast 2024-2029 ($ million)
  • Chart on Global Market: Year-over-year growth 2024-2029
  • Data Table on Global Market: Year-over-year growth 2024-2029 (%)

4 Historic Market Size

  • Global military armoured vehicles and counter-IED vehicles market 2019 - 2023
  • Historic Market Size – Data Table on global military armoured vehicles and counter-ied vehicles market 2019 - 2023 ($ million)

4.2 Product Segment Analysis 2019 - 2023

  • Historic Market Size – Product Segment 2019 - 2023 ($ million)

4.3 Mobility Type Segment Analysis 2019 - 2023

  • Historic Market Size – Mobility Type Segment 2019 - 2023 ($ million)

4.4 Geography Segment Analysis 2019 - 2023

  • Historic Market Size – Geography Segment 2019 - 2023 ($ million)

4.5 Country Segment Analysis 2019 - 2023

  • Historic Market Size – Country Segment 2019 - 2023 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

  • Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers

  • Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers

  • Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants

  • Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes

  • Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry

  • Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition

  • Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product

6.1 Market segments

  • Chart on Product - Market share 2024-2029 (%)
  • Data Table on Product - Market share 2024-2029 (%)

6.2 Comparison by Product

  • Chart on Comparison by Product
  • Data Table on Comparison by Product

6.3 Infantry fighting vehicle (IFV) - Market size and forecast 2024-2029

  • Chart on Infantry fighting vehicle (IFV) - Market size and forecast 2024-2029 ($ million)
  • Data Table on Infantry fighting vehicle (IFV) - Market size and forecast 2024-2029 ($ million)
  • Chart on Infantry fighting vehicle (IFV) - Year-over-year growth 2024-2029 (%)
  • Data Table on Infantry fighting vehicle (IFV) - Year-over-year growth 2024-2029 (%)

6.4 Armoured personnel carrier (APC) - Market size and forecast 2024-2029

  • Chart on Armoured personnel carrier (APC) - Market size and forecast 2023-
  • 2028 ($ million)
  • Data Table on Armoured personnel carrier (APC) - Market size and forecast
  • 2024-2029 ($ million)
  • Chart on Armoured personnel carrier (APC) - Year-over-year growth 2023-
  • 2028 (%)
  • Data Table on Armoured personnel carrier (APC) - Year-over-year growth
  • 2024-2029 (%)

6.5 Main battle tank (MBT) - Market size and forecast 2024-2029

  • Chart on Main battle tank (MBT) - Market size and forecast 2024-2029 ($ million)
  • Data Table on Main battle tank (MBT) - Market size and forecast 2024-2029 ($ million)
  • Chart on Main battle tank (MBT) - Year-over-year growth 2024-2029 (%)
  • Data Table on Main battle tank (MBT) - Year-over-year growth 2024-2029 (%)
  • Self-propelled howitzer (SPH) - Market size and forecast 2024-2029
  • Chart on Self-propelled howitzer (SPH) - Market size and forecast 2024-2029 ($ million)
  • Data Table on Self-propelled howitzer (SPH) - Market size and forecast 2024-2029 ($ million)
  • Chart on Self-propelled howitzer (SPH) - Year-over-year growth 2024-2029 (%)
  • Data Table on Self-propelled howitzer (SPH) - Year-over-year growth 2024-2029 (%)
  • Others - Market size and forecast 2024-2029
  • Chart on Others - Market size and forecast 2024-2029 ($ million)
  • Data Table on Others - Market size and forecast 2024-2029 ($ million)
  • Chart on Others - Year-over-year growth 2024-2029 (%)
  • Data Table on Others - Year-over-year growth 2024-2029 (%)

6.6 Market opportunity by Product

  • Market opportunity by Product ($ million)
  • Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Mobility Type

7.1 Market segments

  • Chart on Mobility Type - Market share 2024-2029 (%)
  • Data Table on Mobility Type - Market share 2024-2029 (%)

7.2 Comparison by Mobility Type

  • Chart on Comparison by Mobility Type
  • Data Table on Comparison by Mobility Type
  • Wheeled - Market size and forecast 2024-2029
  • Chart on Wheeled - Market size and forecast 2024-2029 ($ million)
  • Data Table on Wheeled - Market size and forecast 2024-2029 ($ million)
  • Chart on Wheeled - Year-over-year growth 2024-2029 (%)
  • Data Table on Wheeled - Year-over-year growth 2024-2029 (%)

7.3 Tracked - Market size and forecast 2024-2029

  • Chart on Tracked - Market size and forecast 2024-2029 ($ million)
  • Data Table on Tracked - Market size and forecast 2024-2029 ($ million)
  • Chart on Tracked - Year-over-year growth 2024-2029 (%)
  • Data Table on Tracked - Year-over-year growth 2024-2029 (%)

7.4 Market opportunity by Mobility Type

  • Market opportunity by Mobility Type ($ million)
  • Data Table on Market opportunity by Mobility Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

  • Chart on Market share by geography 2024-2029 (%)
  • Data Table on Market share by geography 2024-2029 (%)

9.2 Geographic comparison

  • Chart on Geographic comparison
  • Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2024-2029

  • Chart on APAC - Market size and forecast 2024-2029 ($ million)
  • Data Table on APAC - Market size and forecast 2024-2029 ($ million)
  • Chart on APAC - Year-over-year growth 2024-2029 (%)
  • Data Table on APAC - Year-over-year growth 2024-2029 (%)

9.4 North America - Market size and forecast 2024-2029

  • Chart on North America - Market size and forecast 2024-2029 ($ million)
  • Data Table on North America - Market size and forecast 2024-2029 ($ million)
  • Chart on North America - Year-over-year growth 2024-2029 (%)
  • Data Table on North America - Year-over-year growth 2024-2029 (%)
  • Middle East and Africa - Market size and forecast 2024-2029
  • Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
  • Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
  • Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
  • Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)

9.6 Europe - Market size and forecast 2024-2029

  • Chart on Europe - Market size and forecast 2024-2029 ($ million)
  • Data Table on Europe - Market size and forecast 2024-2029 ($ million)
  • Chart on Europe - Year-over-year growth 2024-2029 (%)
  • Data Table on Europe - Year-over-year growth 2024-2029 (%)

9.7 South America - Market size and forecast 2024-2029

  • Chart on South America - Market size and forecast 2024-2029 ($ million)
  • Data Table on South America - Market size and forecast 2024-2029 ($ million)
  • Chart on South America - Year-over-year growth 2024-2029 (%)
  • Data Table on South America - Year-over-year growth 2024-2029 (%)

9.8 US - Market size and forecast 2024-2029

  • Chart on US - Market size and forecast 2024-2029 ($ million)
  • Data Table on US - Market size and forecast 2024-2029 ($ million)
  • Chart on US - Year-over-year growth 2024-2029 (%)
  • Data Table on US - Year-over-year growth 2024-2029 (%)

9.9 China - Market size and forecast 2024-2029

  • Chart on China - Market size and forecast 2024-2029 ($ million)
  • Data Table on China - Market size and forecast 2024-2029 ($ million)
  • Chart on China - Year-over-year growth 2024-2029 (%)
  • Data Table on China - Year-over-year growth 2024-2029 (%)

9.10 Japan - Market size and forecast 2024-2029

  • Chart on Japan - Market size and forecast 2024-2029 ($ million)
  • Data Table on Japan - Market size and forecast 2024-2029 ($ million)
  • Chart on Japan - Year-over-year growth 2024-2029 (%)
  • Data Table on Japan - Year-over-year growth 2024-2029 (%)

9.11 India - Market size and forecast 2024-2029

  • Chart on India - Market size and forecast 2024-2029 ($ million)
  • Data Table on India - Market size and forecast 2024-2029 ($ million)
  • Chart on India - Year-over-year growth 2024-2029 (%)
  • Data Table on India - Year-over-year growth 2024-2029 (%)

9.12 Saudi Arabia - Market size and forecast 2024-2029

  • Chart on Saudi Arabia - Market size and forecast 2024-2029 ($ million)
  • Data Table on Saudi Arabia - Market size and forecast 2024-2029 ($ million)
  • Chart on Saudi Arabia - Year-over-year growth 2024-2029 (%)
  • Data Table on Saudi Arabia - Year-over-year growth 2024-2029 (%)

9.13 Market opportunity by geography

  • Market opportunity by geography ($ million)
  • Data Tables on Market opportunity by geography ($ million)
  • Drivers, Challenges, and Trends
  • Market drivers
  • Market challenges
  • Impact of drivers and challenges

10 Vendor Landscape

  • Overview
  • Overview on Criticality of inputs and Factors of differentiation
  • Landscape disruption
  • Overview on factors of disruption
  • Industry risks
  • Impact of key risks on business

11 Vendor Analysis

  • AB Volvo
  • Alpine Armouring Inc
  • BAE Systems Plc
  • Denel SOC Ltd
  • General Dynamics Corp
  • Hyundai Motor Co
  • International Armoured Group
  • Lockheed Martin Corp
  • Oshkosh Corp
  • Renault SAS
  • Rheinmetall AG
  • Rostec
  • Traton SE

Research Methodology

All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.

1. Secondary Research

Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:

  • Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
  • Academic journals and case studies
  • Company reports, investor presentations, and press releases
  • Government databases and regulatory publications
  • Trade publications, industry blogs, and news articles

2. Primary Research

To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.

a. Expert Consultations (Qualitative Primary Research)

In-depth interviews were conducted with a wide range of industry stakeholders, including:

  • Industry experts and consultants
  • Senior executives and decision-makers
  • Product managers and supply chain professionals
  • Academic researchers and analysts

b. Surveys and Questionnaires (Quantitative Primary Research)

Structured surveys were distributed among:

  • End-users/consumers
  • Retailers and distributors
  • Business-to-business (B2B) buyers

3. Data Validation and Triangulation

Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.

4. Analytical Tools and Frameworks

Various analytical models were applied to interpret the collected data:

  • SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
  • Porter’s Five Forces to assess market competitiveness
  • PESTLE Analysis to evaluate external macroeconomic influences
  • Forecasting Models using historical data trends and regression analysis

Conclusion

The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.

For detailed methodology for this particular report please write to us on info@syovi.com