Europe Armored Fighting Vehicles Market Introduction and Overview
According to SPER Market Research, the Europe Armored Fighting Vehicles Market is estimated to reach USD 14.9 billion by 2033 with a CAGR of 5.91%.
The report includes an in-depth analysis of the Europe Armored Fighting Vehicles Market, including market size and trends, product mix, distribution channels, and supplier analysis. Combat vehicles with armored protection, mobility, and firepower are known as armored fighting vehicles, or AFVs for short. These vehicles are essential in today's warfare because they enable ground forces to move about efficiently even while they are under fire. Tanks, infantry fighting vehicles (IFVs), armored personnel carriers (APCs), and self-propelled artillery are a few examples of AFVs. The primary duty of tanks, which are the most heavily equipped and armored AFVs, is to engage opposing armor and entrenched positions. In order to help infantry units during combat, IFVs combine significant firepower with the ability to transport troops. Although they can only transport infantry troops, APCs have minimal defensive capabilities. With the use of rocket launchers or artillery guns, self-propelled artillery vehicles can support ground forces with mobile fire.
- The new combat reconnaissance vehicles, which are based on the Boxer family of armored fighting vehicles and have a 30-millimeter gun installed, will be procured in collaboration with Australian and German officials, according to an agreement made in March 2023. Beginning in 2025, there will be deliveries.
- The British Army started developing the Challenger 3 upgrade, their next-generation main battle tank (MBT), in March 2022. These capabilities should be maintained until at least 2040 with the 148 Challenger 3s, which will replace the current Challenger 2s at an estimated cost of USD 1.3 billion.
Market Opportunities and Challenges
Opportunities: It is anticipated that the Main Battle Tank segment will lead the market during the forecast period. The market is dominated by the main battle tank (MBT) segment, and is anticipated to stay that way during the projection period. The growing number of nations, including Hungary, Russia, Poland, France, and Germany, purchasing tanks is driving this segment. France and Germany are among the nations in the region working together to create the next generation of MBTs. Furthermore, obtaining additional military vehicles is influenced by the current conflict between Russia and Ukraine. Countries including the United Kingdom, Italy, Finland, France, Germany, Croatia, Poland, Sweden, and Turkey are anticipated to contribute to the demand in the upcoming years.
Challenges: The armored vehicles experienced mechanical issues. An armored vehicle's mechanical or electrical breakdown may be brought on by constant movement and logistical pressure. In unfavorable circumstances, like on the battlefield, armored vehicle malfunctions like as malfunctioning transmission systems, engine breakdowns, and jammed components can cause operational disruptions. Furthermore, fixing and restoring such problems frequently takes time.
In these situations, the user may be seriously endangered by the supply vehicles' unavailability. Consequently, the market's expansion is constrained by these mechanical and electrical faults.
Market Competitive Landscape
The market for armored fighting vehicles in Europe is a little fragmented, with a number of companies owning sizeable market shares. Among the leading companies in the market are Iveco Defence Vehicles, BAE Systems PLC, Rheinmetall AG, General Dynamics Corporation, and KNDS N.V. Since three to four countries currently possess the bulk of the fleet of armored combat vehicles, it becomes necessary to provide the other European nations with cutting-edge fighting vehicles. The older generation of fleet is being used by several nations. Partnerships for the creation of new combat vehicles are expected to fuel market expansion in these nations.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type
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| Regions covered | UK, France, Germany, Italy, Spain, Rest of Europe
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| Companies Covered | ARQUUS Defense, BAE Systems, General Dynamics Corporation, Iveco Defence Vehicles, KNDS N.V., Military Industrial Company, Oshkosh Corporation Inc., Patria, Rheinmetall AG, Supacat |
COVID-19 Impact on Europe Armored Fighting Vehicles Market
The COVID-19 epidemic severely damaged Europe's industrial sector, and several of the continent's nations were in danger of entering an even deeper recession than the one that followed the financial crisis of 2008. Early on, the governments of the nations in the region lessened the impact on the defense sector, realizing that the consequences for the sector may be disastrous. Due to a rise in the purchase of armored vehicles and rising defense spending, the market showed signs of a robust post-COVID rebound.
Key Target Audience:
- Military Forces
- Defense Contractors
- Government Agencies
- Security Agencies
- Law Enforcement Agencies
- Private Security Firms
- Research Institutions
- Tactical Vehicle Manufacturers
- Armored Vehicle Suppliers
Our in-depth analysis of the Europe Armored Fighting Vehicles Market includes the following segments:
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By Type:
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Armored Personal Carrier (APC)
Infantry Fighting Vehicle (IFV)
Others
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By Region:
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France
Germany
Italy
United Kingdom
Rest of Europe
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Key Topics Covered in the Report:
- Europe Armored Fighting Vehicles Market Size (FY’2024-FY’2033)
- Overview of Europe Armored Fighting Vehicles Market
- Segmentation of Europe Armored Fighting Vehicles Market By Type (Armored Personal Carrier, Infantry Fighting Vehicle, Others)
- Expansion Analysis of Europe Armored Fighting Vehicles Market
- Problems and Obstacles in Europe Armored Fighting Vehicles Market
- Competitive Landscape in the Europe Armored Fighting Vehicles Market
- Impact of COVID-19 and Demonetization on Europe Armored Fighting Vehicles Market
- Details on Current Investment in Europe Armored Fighting Vehicles Market
- Competitive Analysis of Europe Armored Fighting Vehicles Market
- Prominent Players in the Europe Armored Fighting Vehicles Market
- SWOT Analysis of Europe Armored Fighting Vehicles Market
- Europe Armored Fighting Vehicles Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Armored Fighting Vehicles Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Armored Fighting Vehicles Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Armored Fighting Vehicles Market
7. Europe Armored Fighting Vehicles Market, By Type (USD Million) 2020-2033
7.1. Europe Armored Fighting Vehicles Market Size, Share and Forecast, By Type, 2020-2026
7.2. Europe Armored Fighting Vehicles Market Size, Share and Forecast, By Type, 2027-2033
7.3. Armored Personal Carrier (APC)
7.4. Infantry Fighting Vehicle (IFV)
7.5. Others
8. Europe Armored Fighting Vehicles Market Forecast, 2020-2033 (USD Million)
8.1. Europe Armored Fighting Vehicles Market Size and Market Share
9. Europe Armored Fighting Vehicles Market, By Region, 2020-2033 (USD Million)
9.1. Europe Armored Fighting Vehicles Market Size and Market Share By Region (2020-2026)
9.2. Europe Armored Fighting Vehicles Market Size and Market Share By Region (2027-2033)
9.3. France
9.4. Germany
9.5. Italy
9.6. United Kingdom
9.7. Rest of Europe
10. Company Profile
10.1. ARQUUS Defense
10.1.1. Company details
10.1.2. Financial outlook
10.1.3. Product summary
10.1.4. Recent developments
10.2. BAE Systems
10.2.1. Company details
10.2.2. Financial outlook
10.2.3. Product summary
10.2.4. Recent developments
10.3. General Dynamics Corporation
10.3.1. Company details
10.3.2. Financial outlook
10.3.3. Product summary
10.3.4. Recent developments
10.4. Iveco Defence Vehicles
10.4.1. Company details
10.4.2. Financial outlook
10.4.3. Product summary
10.4.4. Recent developments
10.5. KNDS N.V.
10.5.1. Company details
10.5.2. Financial outlook
10.5.3. Product summary
10.5.4. Recent developments
10.6. Military Industrial Company
10.6.1. Company details
10.6.2. Financial outlook
10.6.3. Product summary
10.6.4. Recent developments
10.7. Oshkosh Corporation Inc.
10.7.1. Company details
10.7.2. Financial outlook
10.7.3. Product summary
10.7.4. Recent developments
10.8. Patria
10.8.1. Company details
10.8.2. Financial outlook
10.8.3. Product summary
10.8.4. Recent developments
10.9. Rheinmetall AG
10.9.1. Company details
10.9.2. Financial outlook
10.9.3. Product summary
10.9.4. Recent developments
10.10. Supacat Limited (SC Group)
10.10.1. Company details
10.10.2. Financial outlook
10.10.3. Product summary
10.10.4. Recent developments
10.11. Others
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope