Military Armored Vehicles Market Size(US$)

CAGR 2025-2031
2.2%
Market Size,2031
USD 25,410
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Military Armored Vehicles market size was US$ 21940 million in 2024 and is forecast to a readjusted size of US$ 25410 million by 2031 with a CAGR of 2.2% during the forecast period 2025-2031.
An armoured vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities. Armoured vehicles can be wheeled or tracked. Tanks, armoured cars, assault guns/armoured self-propelled guns, infantry fighting vehicles and armoured personnel carriers (APC) are all examples of armoured vehicles.
The Military Armored Vehicles market covers Wheeled Armored Vehicles, Crawler Armored Vehicles. The typical players include General Dynamics, BAE Systems, Oshkosh, Rheinmetall, China North Industrial, Nexter Systems, Hyundai Rotem, FNSS, etc.
The global Military Armored Vehicles market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Military Armored Vehicles market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2020-2031.
Market Segmentation
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, and by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Sales and revenue of Military Armored Vehicles in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region.
Chapter 3: Detailed analysis of Military Armored Vehicles manufacturers competitive landscape, sales, revenue, price, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the sales, revenue, price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the sales, revenue, price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Region analysis by company, by customer, by Type, by Application, sales, revenue, and price for each segment,
Chapter 7: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Military Armored Vehicles revenue, gross margin, and recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Sales channels analysis
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
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Table of Contents
1 Market Overview
1.1 Military Armored Vehicles Product Scope
1.2 Military Armored Vehicles by Type
1.2.1 Global Military Armored Vehicles Sales by Type (2020 & 2024 & 2031)
1.2.2 Wheeled Military Armored Vehicles
1.2.3 Crawler Military Armored Vehicles
1.3 Military Armored Vehicles by Application
1.3.1 Global Military Armored Vehicles Sales Comparison by Application (2020 & 2024 & 2031)
1.3.2 Defense
1.3.3 Homeland Security
1.3.4 Others
1.4 Global Military Armored Vehicles Market Estimates and Forecasts (2020-2031)
1.4.1 Global Military Armored Vehicles Market Size in Value Growth Rate (2020-2031)
1.4.2 Global Military Armored Vehicles Market Size in Volume Growth Rate (2020-2031)
1.4.3 Global Military Armored Vehicles Price Trends (2020-2031)
1.5 Assumptions and Limitations
2 Market Size and Prospective by Region
2.1 Global Military Armored Vehicles Market Size by Region: 2020 VS 2024 VS 2031
2.2 Global Military Armored Vehicles Retrospective Market Scenario by Region (2020-2025)
2.2.1 Global Military Armored Vehicles Sales Market Share by Region (2020-2025)
2.2.2 Global Military Armored Vehicles Revenue Market Share by Region (2020-2025)
2.3 Global Military Armored Vehicles Market Estimates and Forecasts by Region (2026-2031)
2.3.1 Global Military Armored Vehicles Sales Estimates and Forecasts by Region (2026-2031)
2.3.2 Global Military Armored Vehicles Revenue Forecast by Region (2026-2031)
2.4 Major Region and Emerging Market Analysis
2.4.1 North America Military Armored Vehicles Market Size and Prospective (2020-2031)
2.4.2 Europe Military Armored Vehicles Market Size and Prospective (2020-2031)
2.4.3 China Military Armored Vehicles Market Size and Prospective (2020-2031)
2.4.4 Japan Military Armored Vehicles Market Size and Prospective (2020-2031)
3 Global Market Size by Type
3.1 Global Military Armored Vehicles Historic Market Review by Type (2020-2025)
3.1.1 Global Military Armored Vehicles Sales by Type (2020-2025)
3.1.2 Global Military Armored Vehicles Revenue by Type (2020-2025)
3.1.3 Global Military Armored Vehicles Price by Type (2020-2025)
3.2 Global Military Armored Vehicles Market Estimates and Forecasts by Type (2026-2031)
3.2.1 Global Military Armored Vehicles Sales Forecast by Type (2026-2031)
3.2.2 Global Military Armored Vehicles Revenue Forecast by Type (2026-2031)
3.2.3 Global Military Armored Vehicles Price Forecast by Type (2026-2031)
3.3 Different Types Military Armored Vehicles Representative Players
4 Global Market Size by Application
4.1 Global Military Armored Vehicles Historic Market Review by Application (2020-2025)
4.1.1 Global Military Armored Vehicles Sales by Application (2020-2025)
4.1.2 Global Military Armored Vehicles Revenue by Application (2020-2025)
4.1.3 Global Military Armored Vehicles Price by Application (2020-2025)
4.2 Global Military Armored Vehicles Market Estimates and Forecasts by Application (2026-2031)
4.2.1 Global Military Armored Vehicles Sales Forecast by Application (2026-2031)
4.2.2 Global Military Armored Vehicles Revenue Forecast by Application (2026-2031)
4.2.3 Global Military Armored Vehicles Price Forecast by Application (2026-2031)
4.3 New Sources of Growth in Military Armored Vehicles Application
5 Competition Landscape by Players
5.1 Global Military Armored Vehicles Sales by Players (2020-2025)
5.2 Global Top Military Armored Vehicles Players by Revenue (2020-2025)
5.3 Global Military Armored Vehicles Market Share by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Military Armored Vehicles as of 2024)
5.4 Global Military Armored Vehicles Average Price by Company (2020-2025)
5.5 Global Key Manufacturers of Military Armored Vehicles, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of Military Armored Vehicles, Product Type & Application
5.7 Global Key Manufacturers of Military Armored Vehicles, Date of Enter into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Region Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America Military Armored Vehicles Sales by Company
6.1.1.1 North America Military Armored Vehicles Sales by Company (2020-2025)
6.1.1.2 North America Military Armored Vehicles Revenue by Company (2020-2025)
6.1.2 North America Military Armored Vehicles Sales Breakdown by Type (2020-2025)
6.1.3 North America Military Armored Vehicles Sales Breakdown by Application (2020-2025)
6.1.4 North America Military Armored Vehicles Major Customer
6.1.5 North America Market Trend and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe Military Armored Vehicles Sales by Company
6.2.1.1 Europe Military Armored Vehicles Sales by Company (2020-2025)
6.2.1.2 Europe Military Armored Vehicles Revenue by Company (2020-2025)
6.2.2 Europe Military Armored Vehicles Sales Breakdown by Type (2020-2025)
6.2.3 Europe Military Armored Vehicles Sales Breakdown by Application (2020-2025)
6.2.4 Europe Military Armored Vehicles Major Customer
6.2.5 Europe Market Trend and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China Military Armored Vehicles Sales by Company
6.3.1.1 China Military Armored Vehicles Sales by Company (2020-2025)
6.3.1.2 China Military Armored Vehicles Revenue by Company (2020-2025)
6.3.2 China Military Armored Vehicles Sales Breakdown by Type (2020-2025)
6.3.3 China Military Armored Vehicles Sales Breakdown by Application (2020-2025)
6.3.4 China Military Armored Vehicles Major Customer
6.3.5 China Market Trend and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan Military Armored Vehicles Sales by Company
6.4.1.1 Japan Military Armored Vehicles Sales by Company (2020-2025)
6.4.1.2 Japan Military Armored Vehicles Revenue by Company (2020-2025)
6.4.2 Japan Military Armored Vehicles Sales Breakdown by Type (2020-2025)
6.4.3 Japan Military Armored Vehicles Sales Breakdown by Application (2020-2025)
6.4.4 Japan Military Armored Vehicles Major Customer
6.4.5 Japan Market Trend and Opportunities
7 Company Profiles and Key Figures
7.1 General Dynamics
7.1.1 General Dynamics Company Information
7.1.2 General Dynamics Business Overview
7.1.3 General Dynamics Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.1.4 General Dynamics Military Armored Vehicles Products Offered
7.1.5 General Dynamics Recent Development
7.2 BAE Systems
7.2.1 BAE Systems Company Information
7.2.2 BAE Systems Business Overview
7.2.3 BAE Systems Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.2.4 BAE Systems Military Armored Vehicles Products Offered
7.2.5 BAE Systems Recent Development
7.3 Oshkosh
7.3.1 Oshkosh Company Information
7.3.2 Oshkosh Business Overview
7.3.3 Oshkosh Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.3.4 Oshkosh Military Armored Vehicles Products Offered
7.3.5 Oshkosh Recent Development
7.4 Rheinmetall
7.4.1 Rheinmetall Company Information
7.4.2 Rheinmetall Business Overview
7.4.3 Rheinmetall Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.4.4 Rheinmetall Military Armored Vehicles Products Offered
7.4.5 Rheinmetall Recent Development
7.5 China North Industrial
7.5.1 China North Industrial Company Information
7.5.2 China North Industrial Business Overview
7.5.3 China North Industrial Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.5.4 China North Industrial Military Armored Vehicles Products Offered
7.5.5 China North Industrial Recent Development
7.6 Nexter Systems
7.6.1 Nexter Systems Company Information
7.6.2 Nexter Systems Business Overview
7.6.3 Nexter Systems Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.6.4 Nexter Systems Military Armored Vehicles Products Offered
7.6.5 Nexter Systems Recent Development
7.7 Hyundai Rotem
7.7.1 Hyundai Rotem Company Information
7.7.2 Hyundai Rotem Business Overview
7.7.3 Hyundai Rotem Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.7.4 Hyundai Rotem Military Armored Vehicles Products Offered
7.7.5 Hyundai Rotem Recent Development
7.8 FNSS
7.8.1 FNSS Company Information
7.8.2 FNSS Business Overview
7.8.3 FNSS Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.8.4 FNSS Military Armored Vehicles Products Offered
7.8.5 FNSS Recent Development
7.9 Uralvagonzavod
7.9.1 Uralvagonzavod Company Information
7.9.2 Uralvagonzavod Business Overview
7.9.3 Uralvagonzavod Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.9.4 Uralvagonzavod Military Armored Vehicles Products Offered
7.9.5 Uralvagonzavod Recent Development
7.10 STREIT Group
7.10.1 STREIT Group Company Information
7.10.2 STREIT Group Business Overview
7.10.3 STREIT Group Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.10.4 STREIT Group Military Armored Vehicles Products Offered
7.10.5 STREIT Group Recent Development
7.11 Thales Group
7.11.1 Thales Group Company Information
7.11.2 Thales Group Business Overview
7.11.3 Thales Group Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.11.4 Thales Group Military Armored Vehicles Products Offered
7.11.5 Thales Group Recent Development
7.12 Textron
7.12.1 Textron Company Information
7.12.2 Textron Business Overview
7.12.3 Textron Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.12.4 Textron Military Armored Vehicles Products Offered
7.12.5 Textron Recent Development
7.13 Iveco Defence Vehicles
7.13.1 Iveco Defence Vehicles Company Information
7.13.2 Iveco Defence Vehicles Business Overview
7.13.3 Iveco Defence Vehicles Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.13.4 Iveco Defence Vehicles Military Armored Vehicles Products Offered
7.13.5 Iveco Defence Vehicles Recent Development
7.14 ST Engineering
7.14.1 ST Engineering Company Information
7.14.2 ST Engineering Business Overview
7.14.3 ST Engineering Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.14.4 ST Engineering Military Armored Vehicles Products Offered
7.14.5 ST Engineering Recent Development
7.15 BMC
7.15.1 BMC Company Information
7.15.2 BMC Business Overview
7.15.3 BMC Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.15.4 BMC Military Armored Vehicles Products Offered
7.15.5 BMC Recent Development
7.16 Otokar
7.16.1 Otokar Company Information
7.16.2 Otokar Business Overview
7.16.3 Otokar Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.16.4 Otokar Military Armored Vehicles Products Offered
7.16.5 Otokar Recent Development
7.17 NIMR Automotive
7.17.1 NIMR Automotive Company Information
7.17.2 NIMR Automotive Business Overview
7.17.3 NIMR Automotive Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.17.4 NIMR Automotive Military Armored Vehicles Products Offered
7.17.5 NIMR Automotive Recent Development
7.18 Mahindra
7.18.1 Mahindra Company Information
7.18.2 Mahindra Business Overview
7.18.3 Mahindra Military Armored Vehicles Sales, Revenue and Gross Margin (2020-2025)
7.18.4 Mahindra Military Armored Vehicles Products Offered
7.18.5 Mahindra Recent Development
8 Military Armored Vehicles Manufacturing Cost Analysis
8.1 Military Armored Vehicles Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Military Armored Vehicles
8.4 Military Armored Vehicles Industrial Chain Analysis
9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 Military Armored Vehicles Distributors List
9.3 Military Armored Vehicles Customers
10 Military Armored Vehicles Market Dynamics
10.1 Military Armored Vehicles Industry Trends
10.2 Military Armored Vehicles Market Drivers
10.3 Military Armored Vehicles Market Challenges
10.4 Military Armored Vehicles Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
Table of Figures
List of Tables
List of Figures
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An armoured vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities. Armoured vehicles can be wheeled or tracked. Tanks, armoured cars, assault guns/armoured self-propelled guns, infantry fighting vehicles and armoured personnel carriers (APC) are all examples of armoured vehicles.
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An armoured vehicle is an armed combat vehicle protected by armour, generally combining operational mobility with offensive and defensive capabilities. Armoured vehicles can be wheeled or tracked. Tanks, armoured cars, assault guns/armoured self-propelled guns, infantry fighting vehicles and armoured personnel carriers (APC) are all examples of armoured vehicles.
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The global market for Military Armored Vehicles was valued at US$ 21940 million in the year 2024 and is projected to reach a revised size of US$ 25410 million by 2031, growing at a CAGR of 2.2% during the forecast period.
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The global market for Military Armored Vehicles was estimated to be worth US$ 21940 million in 2024 and is forecast to a readjusted size of US$ 25410 million by 2031 with a CAGR of 2.2% during the forecast period 2025-2031.
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The global Military Armored Vehicles market size was US$ 21513 million in 2025 and is forecast to reach a readjusted size of US$ 31259 million by 2032 with a CAGR of 5.5% during the forecast period 2026-2032.
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The global Military Armored Vehicles market is projected to grow from US$ 21513 million in 2025 to US$ 31259 million by 2032, at a CAGR of 5.5% (2026-2032), driven by critical product segments and diverse end‑use applications.
Published: 2026-08-01
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