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Global Armored Vehicles & Counter-IED Vehicles Stable Through 2021

by Editor
August 10, 2011
in Army News
2 min read
0
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MarketResearch has announced the addition of the new report “The Global Armored Vehicles and Counter IED Vehicles Market 2011-2021” to their collection of defense market reports.

In 2011, the global armored vehicles and counter IED vehicles market is valued over US$25 billion. However, the market is expected to decline from 2011-2021 as military operations in Afghanistan and Iraq are expected to end in this period. In line with this expectation, the market value is expected to fall by around US$1 billion by 2021, with a cumulative value of over US$250 billion from 2011-2021.

As a result of Western austerity and high levels of fiscal debt in the West, defense modernization plans have overwhelmingly been postponed to contain fiscal expenditure. In Asia, defense expenditure and modernization is set to increase due to China’s large defense expenditure increase and territorial disputes within the region. However, despite North America’s high levels of fiscal debt, this region will constitute the largest share of the global market from 2011-2021.

Despite the high fiscal deficit of North American countries, from 2011-2021 these nations will constitute over 30% of the global armored vehicles and counter IED vehicles market, which is the largest market share. Europe is expected to account for around a quarter of market share from 2011-2021, but demand for armored vehicles in this period will decline. In contrast, Asia will increasingly require armored and counter IED vehicles to combat territorial disputes and to cater to the large troop size of regional forces.

Additionally, soaring oil prices and economic development in the Middle East will increase demand for armored vehicles from 2011-2021, and the discovery of oil and mineral resources in Africa, along with ethnic and territorial disputes, will increase demand for armored vehicles in this region. Although South American countries plan to modernize their armed forces, this modernization is only expected for air and navy forces, and therefore demand for armored vehicles in this region is expected to decline from 2011-2021.

Collectively, IFVs and APCs are expected to account for the largest share of the global armored vehicles and counter IED vehicles market from 2011-2021. Increasing global troop sizes and overseas operations are expected to increase demand for tactical trucks and light multirole vehicles (LMV).

However, the end of military operations in Afghanistan and Iraq, coupled with the integration of mine protection technology in all other classes of vehicles, will result in Mine Resistant Ambush Protected (MRAP) vehicles contributing just over 5% to the global market from 2011-2021. Increasing global demand for armored and counter IED vehicles will come from overseas peacekeeping missions, territorial disputes, military modernization programs and internal insurgencies faced by some countries.

MarketResearch.com is the leading provider of global market intelligence products and services. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the world’s most extensive database of expert insights on global industries, companies, products, and trends.

Tags: armored vehiclescounter IEDIEDmarketresearch
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