Global Armored Vehicle Market to 2030 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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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.