Middle East and Africa Armored Vehicles Market Growth, Size, Trends, Share and Future Outlook
Middle East and Africa Armored Vehicles Market Size- By Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2024 | Report ID: AMIN24193 | Pages: 1 - 156 | Formats*: |
| Category : Automotive & Transportation | |||
Middle East and Africa Armored Vehicles Market Introduction and Overview
According to SPER Market Research, the Middle East and Africa Armored Vehicles Market is estimated to reach USD 2.84 billion by 2033 with a CAGR of 5.29%.
The report includes an in-depth analysis of the Middle East and Africa Armored Vehicles Market, including market size and trends, product mix, applications, and supplier analysis. Armoured vehicles are security vehicles designed to convey armed soldiers in a secure and safe manner. Traditionally, only military officers, law enforcement officials, and clergy had access to these vehicles. However, these vehicles are increasingly being employed by large corporate players, VIPs, and celebrities alike. Armoured vehicles include things like armoured personnel carriers, armoured cars, and battle tanks.
- The Israeli Ministry of Defence was recently equipped with its first brand-new Namer 1500 armoured personnel carrier (APC) in June 2023. As part of Israel's flagship Merkava and Armoured Vehicle Directorate tank project, the Namer 1500 APC was created to replace the nation's ageing M113 APC vehicles.
- In June 2022, Israel's defence minister announced that it will buy hundreds of combat vehicles from Israel Aerospace Industries (IAI) for its special forces. The procurement contract was worth more than 100 million new shekels ($28 million).
Market Opportunities and Challenges
Opportunities- Middle Eastern countries are spending more on the defence sector as a result of an increase in the number of geopolitical and military conflicts in the region as well as increased security concerns brought on by terrorist activities. As security threats intensified, Middle Eastern nations such as Saudi Arabia, the United Arab Emirates, and Israel boosted defence spending and concentrated on strengthening defence capabilities. The development of next-generation fighting vehicles and increased purchases of armoured and sophisticated weaponry are what are fuelling the market's expansion. In the Middle East and Africa armoured vehicles market, the armoured personnel carrier (APC) category is expected to increase at a substantial rate throughout the course of the projected period. The increase in spending on Middle Eastern military modernisation projects and the acquisition of sophisticated armoured personnel carriers are blamed for the spike. In addition to being utilised for troop evacuation, an armoured personnel carrier can be equipped with a command post and employed to transport men during combat.
Challenges- The high research and development expenses involved severely limit the growth of the armoured vehicle market. Developing modern armoured vehicles with cutting-edge technologies necessitates significant R&D spending. Building sturdy and resilient armoured vehicles capable of countering a wide range of threats on the current battlefield requires years of dedicated study and testing. Bulletproof glass and composite armour plate are two key components and materials used in armoured vehicles that are both highly specialised and expensive.
The addition of cutting-edge capabilities such as active protection systems, sophisticated optics, and communication suites drives up R&D costs.
Market Competitive Landscape
The market for armoured vehicles in the Middle East and Africa is semi-consolidated since a few numbers of companies control a sizable portion of the industry. Some of the market's top participants are Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive (EDGE Group PJSC), Streit Group, Rheinmetall AG, IAI, Oshkosh Corporation, BMC Otomotiv Ticaret ve Sanayi A.Ş, BAE Systems plc, Koç Holding A.Ş, Denel SOC Ltd.
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 |
| Regions covered | South Africa, Egypt, United Arab Emirates, Rest of Middle East and Africa. |
| Companies Covered | Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive (EDGE Group PJSC), Streit Group, Rheinmetall AG, IAI, Oshkosh Corporation, BMC Otomotiv Ticaret ve Sanayi A.Ş, BAE Systems plc, Koç Holding A.Ş, Denel SOC Ltd. |
COVID-19 Impact on Middle East and Africa Armored Vehicles Market
The advent of the COVID-19 pandemic has a multifaceted influence on the many economies of the armoured vehicle sector. Manufacturers of automobile components, parts, and assembly lines have been severely damaged. The production of armoured vehicles has also stalled because to the pandemic crisis. The leading competitors in the armoured vehicle industry are progressively using a variety of tactics and strategies to restart production and create demand for the vehicles. The concerted efforts of the leading armoured vehicle manufacturers, as well as government actions, will result in significant market expansion throughout the projection period.
Key Target Audience:
- Defense Contractors and Manufacturers
- Government and Defense Ministries
- Private Security Firms
- Investment Firms and Financial Analysts
- Consulting Firms
- OEMs (Original Equipment Manufacturers)
- NGOs and International Organizations
- Policy Makers and Defense Planners
- Academic and Research Institutions
Our in-depth analysis of the Middle East and Africa Armored Vehicles Market includes the following segments:
| By Type: |
|
Key Topics Covered in the Report:
- Middle East and Africa Armored Vehicles Market Size (FY’2024-FY’2033)
- Overview of Middle East and Africa Armored Vehicles Market
- Segmentation of Middle East and Africa Armored Vehicles Market by Type {Main Battle Tank (MBT), Armored Personnel Carrier (APC), Infantry Fighting Vehicle (IFV)}
- Statistical Snap of Middle East and Africa Armored Vehicles Market
- Expansion Analysis of Middle East and Africa Armored Vehicles Market
- Problems and Obstacles in Middle East and Africa Armored Vehicles Market
- Competitive Landscape in the Middle East and Africa Armored Vehicles Market
- Impact of COVID-19 and Demonetization on Middle East and Africa Armored Vehicles Market
- Details on Current Investment in Middle East and Africa Armored Vehicles Market
- Competitive Analysis of Middle East and Africa Armored Vehicles Market
- Prominent Players in the Middle East and Africa Armored Vehicles Market
- SWOT Analysis of Middle East and Africa Armored Vehicles Market
- Middle East and Africa Armored Vehicles Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. 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. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Middle East and Africa Armored Vehicles Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East and Africa Armored Vehicles Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East and Africa Armored Vehicles Market
7. Middle East and Africa Armored Vehicles Market, By Type (USD Million) 2020-2033
7.1. Middle East and Africa Armored Vehicles Market Size, Share and Forecast, By Type, 2020-20267.2. Middle East and Africa Armored Vehicles Market Size, Share and Forecast, By Type, 2027-20337.3. Main Battle Tank (MBT)7.4. Armored Personnel Carrier (APC)7.5. Infantry Fighting Vehicle (IFV)
8. Middle East and Africa Armored Vehicles Market Forecast, 2020-2033 (USD Million)
8.1. Middle East and Africa Armored Vehicles Market Size and Market Share
9. Middle East and Africa Armored Vehicles Market, By Region, 2020-2033 (USD Million)
9.1. Middle East and Africa Armored Vehicles Market Size and Market Share By Region (2020-2026)9.2. Middle East and Africa Armored Vehicles Market Size and Market Share By Region (2027-2033)9.3. South Africa9.4. Egypt9.5. United Arab Emirates9.6. Rest of Middle East and Africa
10. Company Profile
10.1. Mahindra Emirates Vehicle Armouring FZ-LLC
10.1.1. Company details10.1.2. Financial outlook10.1.3. Product summary10.1.4. Recent developments
10.2. NIMR Automotive (EDGE Group PJSC)
10.2.1. Company details10.2.2. Financial outlook10.2.3. Product summary10.2.4. Recent developments
10.3. Streit Group
10.3.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments
10.4. Rheinmetall AG
10.4.1. Company details10.4.2. Financial outlook10.4.3. Product summary10.4.4. Recent developments
10.5. IAI
10.5.1. Company details10.5.2. Financial outlook10.5.3. Product summary10.5.4. Recent developments
10.6. Oshkosh Corporation
10.6.1. Company details10.6.2. Financial outlook10.6.3. Product summary10.6.4. Recent developments
10.7. BMC Otomotiv Ticaret ve Sanayi A.Åž
10.7.1. Company details10.7.2. Financial outlook10.7.3. Product summary10.7.4. Recent developments
10.8. BAE Systems plc
10.8.1. Company details10.8.2. Financial outlook10.8.3. Product summary10.8.4. Recent developments
10.9. Koç Holding A.Ş
10.9.1. Company details10.9.2. Financial outlook10.9.3. Product summary10.9.4. Recent developments
10.10. Denel SOC Ltd
10.10.1. Company details10.10.2. Financial outlook10.10.3. Product summary10.10.4. Recent developments
10.11. Others
11. Conclusion
12. List of Abbreviations
13. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Armoured vehicles are security vehicles designed to convey armed soldiers in a secure and safe manner. Traditionally, only military officers, law enforcement officials, and clergy had access to these vehicles.
Middle East and Africa Armored Vehicles Market is projected to reach USD 2.84 billion by 2033, growing at a CAGR of 5.29% during the forecast period.
Middle East and Africa Armored Vehicles Market grew in Market size from 2024. The Market is expected to reach USD 2.84 billion by 2033, at a CAGR of 5.29% during the forecast period.
Middle East and Africa Armored Vehicles Market CAGR of 5.29% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Middle East and Africa Armored Vehicles Market size is USD 2.84 billion from 2024 to 2033.
Middle East and Africa Armored Vehicles Market is covered By Type.
The Middle East and Africa is anticipated to have the highest Market share in the Middle East and Africa Armored Vehicles Market.
The key players in the Market include Companies Covered Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive (EDGE Group PJSC), Streit Group, Rheinmetall AG, IAI, Oshkosh Corporation, BMC Otomotiv Ticaret ve Sanayi A.Ş, BAE Systems plc, Koç Holding A.Ş, Denel SOC Ltd.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
