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Armored Vehicle Upgrade And Retrofit Market Report 2023-2032: Market Size, Share, Revenue, Trends And Overview | Hyundai Motor Group, SAIC Motor Corporation Limited., Hanwha Group, Tata Motors Limited, General Dynamics Corporation
Armored Vehicle Upgrade And Retrofit Market
The Business Research Company's Armored Vehicle Upgrade And Retrofit Global Market Report 2023 identifies rise in terrorism and hostile activities as the major driver for the Armored Vehicle Upgrade And Retrofit market's growth in the forecast period. Terrorism and hostile activities refer to acts of violence, aggression, or threats perpetrated by individuals or groups to cause fear, harm, or disruption. Armored vehicles significantly counter-terrorism and hostile activities by providing security forces and military units with protection, mobility, and firepower.
The global armored vehicle upgrade and retrofit market is expected to grow from $5.79 billion in 2022 to $6.07 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The armored vehicle upgrade and retrofit market is expected to reach $7.17 billion in 2027 at a CAGR of 4.2%.
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Major competitors in the Armored Vehicle Upgrade And Retrofit market are Hyundai Motor Group, SAIC Motor Corporation Limited., Hanwha Group, Tata Motors Limited, General Dynamics Corporation.
A key trend in the Armored Vehicle Upgrade And Retrofit market includes technological advancement. Major companies operating in the armored vehicle upgrade and retrofit market are focused on the latest technology to sustain their position. For instance, in June 2022, Texelis SAS, a France-based manufacturing company, introduced a new technological solution to wheeled armored vehicle electrification for military operators looking to take the next step toward a greener battlefield. This solution combines proven electric vehicle components to offer a faster route to vehicle electrification than whole-vehicle electric design programs. It can be implemented on existing wheeled military vehicles to retain advanced mobility while harnessing technologies to enable the ability to export electric power to charge soldier systems and run in full-electric silent mode for limited periods.
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The Armored Vehicle Upgrade And Retrofit market 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
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Armored Vehicle Upgrade And Retrofit market.
The Business Research Company's "Global Armored Vehicle Upgrade And Retrofit Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Armored Vehicle Upgrade And Retrofit Market Include:
1. Executive Summary
2. Armored Vehicle Upgrade And Retrofit Market Characteristics
3. Armored Vehicle Upgrade And Retrofit Market Trends And Strategies
4. Armored Vehicle Upgrade And Retrofit Market - Macro Economic Scenario
……
32. Global Armored Vehicle Upgrade And Retrofit Market Competitive Benchmarking
33. Global Armored Vehicle Upgrade And Retrofit Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Armored Vehicle Upgrade And Retrofit Market
35. Armored Vehicle Upgrade And Retrofit Market Future Outlook and Potential Analysis
36. Appendix
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