Armored Vehicle Market is projected to touch a value of US$35.49 bn in 2023 – EIN News

Armored Vehicle Market is projected to touch a value of US$35.49 bn in 2023 – EIN News

Armored Vehicle

Armored Vehicle

Transparency Market Research states that the global armored vehicle market is expected to expand at a CAGR of 5.2% from 2015 to 2023

ALBANY, NEW YORK, UNITED STATES, September 10, 2020 /EINPresswire.com/ — The innovation and technology-driven for armored vehicles market features a select few vendors that mostly take up contracts from government and commercial bodies, with the defense sector being the key determinant of the market’s overall development, finds a new research report by TMR. Most of the market’s leading and most reputed vendors are headquartered in North America and Europe, making these regions the frontrunners and leading regional segments.

The demand for integration of technologically advanced electrical, photonic, and efficient and highly secure communication components in armored fleet to maintain an edge over extremist powers is gaining strength, stimulating the need for technological transformation for the market. In the next few years, continual investment in R&D activities, development of highly advanced, and innovative technologies will be the core of growth strategies adopted by key vendors, including Oshkosh Corporation, Elbit Systems Ltd., BAE Systems plc, Lockheed
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