Selbyville, Delaware, Oct. 28, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on vehicle armor market which estimates the global market valuation for armored vehicle will cross US$ 9.1 billion by 2026. The rising procurement of modernized armored vehicles will bolster the sales of vehicle armors.
Continuous research & development activities in the field of ballistic protection will potentially generate many opportunities for the growth of vehicle armors in the upcoming years. There is a scope for the development of armored vehicles in areas such as protection and mobility. Many companies are improvising armor systems, vehicle components, and communication systems.
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The ceramics segment is estimated to account for nearly 15% armored vehicle market share in 2026. Ceramics possess low-density, superior hardness, and high modulus. Additionally, these materials have superior flexural strength and excellent fracture toughness. Ceramics are used in lightweight armor systems for protection against small arms and medium-caliber machine gun threats. Commonly used ceramic materials in armor development include Boron Carbide (B4C), Titanium di-Boride (TiB2), Aluminum Oxide (Al2O3), Zirconium Toughened Alumina (ZTA), Aluminum Nitrate (AIN), and Silicon Carbide (SiC).
Many governments are investing in the upgrading and modernization of the ground vehicle fleet. DSM Dyneema introduced Force Multiplier Technology to improve the operational performance of armored vehicles. This technology will aid in the provision of superior ballistic protection, reduce vehicle weight, and improve flexibility.
Civilian & law enforcement vehicles is projected to grow at 5% CAGR through 2026. These vehicles offer good protection against various guns such as AR-15, AK-47 & 9 mm pistols, and bomb blasts. Additionally, these vehicles offer additional protection in case of accidents. The chances of death in case of an accident while travelling through armored cars are significantly lower than normal cars. Vehicle armor manufacturers incorporate various features including run-flat tires, electric shock handles, bomb blankets, bulletproof glass, oil slick systems, etc., for the safety of passengers. Many high-end vehicle brands, BMW, Audi, and Land Rover provide in-house bulletproofing features.
Browse key industry insights spread across 130 pages with 121 market data tables & 23 figures & charts from the report, “Vehicle Armor Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/armored-vehicles-market
North America armored vehicle market is likely to cross USD 890 million revenue by 2026 in the wake of rising military armament development and counterterrorism programs. The U.S. Department of Defense (DOD) allocated a budget of USD 700 billion for the development of the military sector. The Canadian government announced to increase its defense budget by more than 70% over the next decade. This will fuel the sales of armored vehicles, thereby augmenting the regional vehicle armor market growth in the future.
Some major findings of the vehicle armor market report include:
- Metal vehicle armors will gain a significant traction owing to its financial viability and excellent operational characteristics.
- Armored fighting vehicles will lead the market owing to their lightweight and excellent battlefield advantages.
- The key vehicle armor industry players are CoorsTek, Kaiser Aluminum, Armormax, SSAB, TenCate Advanced Armor, Permali, MKU Limited, and DEW Engineering and Development ULC.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/armored-vehicles-market
Partial chapters of report table of contents (TOC):
Chapter 3. Vehicle Armor Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Value addition at each stage
3.3.2. Distribution channel analysis
3.3.3. Vendor matrix
3.4. Industry megatrends
3.5. Innovation & sustainability
3.5.1. Patent analysis
3.5.2. Technology landscape
3.5.3. Future trends
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Rising military expenditures across the globe
3.6.1.2. Favorable trends associated with procurement of armored vehicles
3.6.1.3. Technological progressions related to armored vehicle manufacturing
3.6.2. Industry pitfalls & challenges
3.6.2.1. Complexities associated with untapped markets
3.7. Regulatory landscape
3.7.1. North America
3.7.2. Europe
3.7.3. Asia Pacific
3.8. Growth potential analysis
3.9. Competitive landscape, 2019
3.9.1. Company market share, 2019
3.9.2. Strategy dashboard
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. Cost structure analysis
3.11.1. R&D cost
3.11.2. Manufacturing & equipment cost
3.11.3. Raw material cost
3.11.4. Distribution cots
3.11.5. Operating cost
3.11.6. Miscellaneous cost
3.12. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.