The Armored Vehicle Upgrade And Retrofit Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Armored Vehicle Upgrade And Retrofit Market?
The market size of the Armored Vehicle Upgrade And Retrofit Global Market Report 2024 has seen stable growth in the past. It is projected to increase from $6.22 billion in 2024 to $6.5 billion in 2025, with a compound annual growth rate (CAGR) of 4.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Armored Vehicle Upgrade And Retrofit Industry?
The Armored Vehicle Upgrade And Retrofit Global Market is projected to reach a market size of $7.68 billion by the year 2029. It also forecasts a compound annual growth rate (CAGR) of 4.3% leading up to 2029.
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What are the Key Growth Drivers Fueling the Armored Vehicle Upgrade And Retrofit Market?
The key drivers in the armored vehicle upgrade and retrofit market are:
• Rising focus on hybrid and electric propulsion
• Adoption of unmanned ground vehicles (UGVs)
• Increasing demand for modular and scalable upgrades
• Growing emphasis on lightweight and survivable design
Global Market Segmentation: Identifying Major Armored Vehicle Upgrade And Retrofit Industry Segments
The armored vehicle upgrade and retrofit market covered in this report is segmented –
1) By Design: Wheeled Armored Vehicles, Tracked Armored Vehicles
2) By Vehicle Type: Tactical Truck, Main Battle Tanks (MBT), Assault Amphibious Vehicles (AAV), Armored Personnel Carrier (APC), Armored Recovery Vehicle, Armored Fighting Vehicle, Other Vehicle Types
3) By Armor Level Type: Rifle, Mine Resistant
4) By Point Of Sale: Original Equipment Manufacturer (OEM), Retrofit
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What are the Emerging Trends Shaping the Future of the Armored Vehicle Upgrade And Retrofit Market?
The key trends in the armored vehicle upgrade and retrofit market are:
• Integration of artificial intelligence in vehicle systems is a notable emerging trend.
• There's a rise in focus on enhanced survivability through active protection systems.
• The shift towards digitalization and connectivity is shaping the future of the market.
• The increased use of additive manufacturing in armored vehicle upgrades is a growing trend.
Who Are the Top Competitors & Leading Players in the Armored Vehicle Upgrade And Retrofit Market?
The major players in the armored vehicle upgrade and retrofit market are:
• Hyundai Motor Group
• SAIC Motor Corporation Limited
• Hanwha Group
• Tata Motors Limited
• General Dynamics Corporation
• Northrop Gru
Regional Dominance: Which Area Leads the Global Armored Vehicle Upgrade And Retrofit Market?
North America was the largest region in the armored vehicle upgrade and retrofit market in 2024
