New York, July 24, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Armored Vehicles Market by Platform, Mobility, System, Region – Global Forecast to 2025” – https://www.reportlinker.com/p03825790/?utm_source=GNW
6 billion in 2020 to USD 15.4 billion by 2025, at a CAGR of 5.8% from 2020 to 2025. Growing demand for armored vehicles due to the rise in the instances of cross-border conflicts and increasing incidences of asymmetric warfare across the globe are expected to fuel the growth of the armored vehicles market across the globe. However, the absence of major OEMs of armored vehicles in the Middle East and Asia Pacific region and the occurrence of mechanical, electrical, and other kinds of failure in armored vehicles are projected to hinder the growth of the market.
The combat vehicles segment is projected to lead the armored vehicles market during the forecast period.
Based on the platform, the armored vehicles market has been segmented into combat vehicles, combat support vehicles, and unmanned armored ground vehicles.The unmanned armored ground vehicle segment is projected to grow at the highest CAGR during the forecast period.
Increasing demand for unmanned systems in battlefields is fueling the growth of this segment of the market.
The wheeled segment is projected to grow at a higher CAGR as compared to the tracked segment from 2020 to 2025
Based on mobility, the market has been segmented into wheeled and tracked.The wheeled segment is projected to grow at a higher CAGR as compared to