Global Armored Vehicle Market Size & Outlook, 2025-2030
Global armored vehicle market, 2018-2030 (US$M)
Related Markets
Global armored vehicle market highlights
- The global armored vehicle market generated a revenue of USD 32,409.2 million in 2024 and is expected to reach USD 44,563.6 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 5.4% by 2030.
- In terms of segment, combat vehicles accounted for a revenue of USD 21,874.5 million in 2024.
- Combat Support Vehicles is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, China is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 32,409.2 million |
| Market revenue in 2030 | USD 44,563.6 million |
| Growth rate | 5.4% (CAGR from 2025 to 2030) |
| Largest segment | Combat vehicles |
| Fastest growing segment | Combat Support Vehicles |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Combat Vehicles, Combat Support Vehicles |
Other key industry trends
- In terms of revenue, the North America accounted for 26.2% of the global armored vehicle market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, China is the fastest growing regional market and is projected to reach USD 3,341.2 million by 2030.
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Armored Vehicle Market Scope
Armored Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Lenco Armored Vehicles | View profile | 11-50 | Pittsfield, Massachusetts, United States, North America | https://www.lencoarmor.com |
| Krauss-Maffei Wegmann | View profile | 1001-5000 | Munich, Bayern, Germany, Europe | https://www.kmweg.de/ |
| Rheinmetall AG | View profile | 25344 | Rheinmetall Platz 1, Dusseldorf, NW, Germany, 40476 | https://www.rheinmetall.com |
| Oshkosh Defense | View profile | 1001-5000 | Oshkosh, Wisconsin, United States, North America | https://oshkoshdefense.com |
| Navistar | View profile | 10001+ | Lisle, Illinois, United States, North America | http://www.navistar.com |
| Iveco Group NV Ordinary Shares | View profile | 36000 | Via Puglia n. 35, Turin, Italy, 10156 | https://www.ivecogroup.com |
| International Armored Group | View profile | 501-1000 | Saint Augustine, Florida, United States, North America | http://interarmored.com |
| General Dynamics Corp | View profile | 111600 | 11011 Sunset Hills Road, Reston, VA, United States, 20190 | https://www.gd.com |
| Ford Motor Co | View profile | 177000 | One American Road, Dearborn, MI, United States, 48126 | https://www.ford.com |
| Mercedes-Benz Group AG | View profile | 166056 | Mercedesstrasse 120, Stuttgart, BW, Germany, 70372 | https://www.daimler.com |
| Bayerische Motoren Werke AG ADR | View profile | 154950 | Petuelring 130, Munich, BY, Germany, 80809 | https://www.bmwgroup.com |
| BAE Systems PLC | View profile | 99800 | 6 Carlton Gardens, Stirling Square, London, United Kingdom, SW1Y 5AD | https://www.baesystems.com |
| Elbit Systems Ltd | View profile | 18984 | Advanced Technology Center, P.O. Box 539, Haifa, Israel, 3100401 | https://www.elbitsystems.com |
| Lockheed Martin Corp | View profile | 122000 | 6801 Rockledge Drive, Bethesda, MD, United States, 20817 | https://www.lockheedmartin.com |
| Thales | View profile | 81000 | 4, rue de la Verrerie, Meudon, France, 92190 | https://www.thalesgroup.com |
| Textron Inc | View profile | 35000 | 40 Westminster Street, Providence, RI, United States, 02903 | https://www.textron.com |
Global armored vehicle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to armored vehicle market will help companies and investors design strategic landscapes.
Combat vehicles was the largest segment with a revenue share of 67.49% in 2024. Horizon Databook has segmented the Global armored vehicle market based on combat vehicles, combat support vehicles covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Armored Vehicle Product Outlook (Revenue, USD Million, 2018-2030)
- Combat Vehicles
- Tactical Vehicle
- Main Battle Tanks (MBT)
- Others
- Infantry Fighting Vehicles (IFV)
- Light Protected Vehicles (LPV)
- Mine-resistant Ambush Protected (MRAP)
- Armored Personnel Carrier (APC)
- Combat Support Vehicles
- Armored Command & Control Vehicles
- Unmanned Armored Ground Vehicles
- Repair & Recovery Vehicles
- Armored Supply Trucks
- Combat Vehicles
- Global Armored Vehicle Type Outlook (Revenue, USD Million, 2018-2030)
- Conventional Armored Vehicles
- Electric Armored Vehicles
- Global Armored Vehicle Mobility Outlook (Revenue, USD Million, 2018-2030)
- Tracked
- Wheeled
- Global Armored Vehicle Mode of Operation Outlook (Revenue, USD Million, 2018-2030)
- Unmanned Armored Vehicles
- Manned Armored Vehicles
- Global Armored Vehicle Point of Sale Outlook (Revenue, USD Million, 2018-2030)
- Retrofit
- OEM
- Global Armored Vehicle System Outlook (Revenue, USD Million, 2018-2030)
- Navigation Systems
- Engines
- Drive Systems
- Communication System
- Others
- Fire Control Systems (FCS)
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Horizon Databook provides a detailed overview of global-level data and insights on the Global armored vehicle market , including forecasts for subscribers. This global databook contains high-level insights into Global armored vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global armored vehicle market size, by regions, 2018-2030 (US$M)
Top 10 countries: Armored vehicle market size, 2024 (US$M)
Global armored vehicle market share, by point of sale, 2024 & 2030 (%, US$M)
Armored vehicle market: Opportunity assessment by country
Global armored vehicle market, by region, 2024 (US$M)
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