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The global armored vehicles market is valued at US$23.0 billion in 2020 and will grow at a CAGR of 4.01% to reach a value of US$34.1 billion by 2030. The cumulative market for global armored vehicles is anticipated to value US$311.9 billion over the forecast period. The demand for armored vehicles is anticipated to be driven by the European region, including countries such as France, Spain, Poland and the UK. The North American region will hold the second largest position globally, exhibiting a steady pace of growth over the forecast period with a CAGR of 5.24%. Major military forces around the globe are presently undertaking modernization efforts to replace legacy platforms in the face of modern threats. Those efforts will support market growth over the next decade.
Shortlisted contenders deliver prototype test and evaluation platforms for Australian IFV requirement
15 February 2021
by Julian Kerr
The two shortlisted contenders for Australia’s AUD18.1–27.1 billion (USD14–21 billion) infantry fighting vehicle (IFV) requirement have delivered a total of six prototype platforms for risk mitigation activities (RMAs), Minister for Defence Linda Reynolds announced on 13 February.
Two of the three vehicles each handed over to the Department of Defence (DoD) by Hanwha Defense Australia and Rheinmetall Defence Australia will be used for test and evaluation activities with a particular focus on armour, firepower, and mobility, the minister said in a statement, noting that the third vehicle will undergo blast testing to assess survivability.