Pune, India, 26th June 2020 – The global armored vehicle market is anticipated to showcase a remarkable growth in the coming years on account of the development of scalable and modular armored vehicles. An armored vehicle is a military combat vehicle used for the protection purposes such as shrapnel, IED weapons, missiles, and other weapon systems. As per a recent report by Fortune Business Insights, titled, “Armored Vehicle Market Size, Share and Industry Analysis, By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), By Mobility (Wheeled, Tracked), By System (Engine, Drive Systems, Ballistic Armor, Turret Drives, Ammunition Handling Systems, Others) and Regional Forecasts, 2019-2026,” the market value stood at USD 17.18 billion in 2018 and is expected to rise at a CAGR of 5.36% to reach a value of USD 26.12 billion by the end of 2026. The forecast period is set between 2019 to 2026.
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