Ceramic Industry

Global Market for Armored Vehicles to Reach $10.3 Billion this Year

March 26, 2010
According to “The New Armoured Vehicles Market 2010-2020,” the global market for armored vehicles will reach $10.3 billion in 2010.

According to a recent ASDReports.com report titled “The New Armoured Vehicles Market 2010-2020,” the global market for armored vehicles will reach $10.3 billion in 2010. This can partly be attributed to the current insurgent threat of improvised explosive devices (IEDs) in operations in Afghanistan and Iraq, which has driven the rise of new classes of armored vehicles such as the min-resistant, ambush-protected (MRAP) vehicle. However, armored vehicles will continue to remain the mainstay of land forces and provide steady demand over the 2010-2020 period for the following categories of armored vehicles: main battle tanks (MBT), medium armored vehicles (MAV), medium mine-resistant vehicles (MMRV) and light protected vehicles (LPV).

The U.S. will remain the largest market in the next few years as it addresses urgent requirements for mine-resistant vehicles. At the same time, the U.S. also continues to pursue several other acquisition and upgrade programs, including the joint light tactical vehicle (JLTV) program, which is intended to replace the U.S. military’s fleet of high-mobility multipurpose wheeled vehicles (HMMWVs). Other major projects include the U.S. Army's Brigade Combat Team (BCT) modernization program. The U.S. military also continues to upgrade its current fleet of Abrams main battle tanks and Bradley armored fighting vehicles.

The UK is another major market, with the British Army’s future rapid effects systems (FRES) program. Germany is also undertaking a number of acquisition programs that include the Puma infantry fighting vehicle (IFV) project and a range of other programs.

The threat of IEDs has heightened the importance of mine resistance in the core design of armored vehicles, leading to the incorporation of such aspects as a v-shaped hull into vehicles like the U.S. JLTV and the UK’s light protected patrol vehicle (LPPV). There is also a growing use of remote-controlled weapon stations (RCWS) in armored vehicles.

For additional information, visit www.ASDReports.com.

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