Vehicle Armor Market 2020-2026; Growth Forecast & Industry Share Report

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Vehicle Armor Market 2020-2026 Growth Forecast
Industry Share Report
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Key Insights Vaccines Market

• Increasing purchase of highly-modernized armored
  vehicles is slated to propel the vehicle armor
  market expansion over the coming years. Growing
  defense budgets of emerging as well as developed
  economies alike would also play a major role in
  augmenting the industry share.
• Taking November 2019 for instance, the British
  Army signed a 2.8 billion contract to buy
  state-of-the-art armored fighting vehicles. The
  Defense Secretary reportedly announced that the
  British army would get over 500 Boxer 8x8
  network-enabled, high mobility armored vehicles
  to move troops to the frontlines during a battle
  scenario. The novel vehicles would make up a part
  of the British Armys Strike brigades, which are
  new units that are set up to rollout rapidly over
  long distances across a plethora of terrains.

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Continued

• The market is bifurcated into ceramics,
  composites, and metals with respect to the
  material segment. Of these, the ceramics segment
  is expected to hold approximately 15 of the
  overall market share by the end of the forecast
  timespan. Ceramics have superior hardness,
  low-density, high modulus and also feature
  extraordinary fracture toughness and superior
  flexural strength.
• Ceramics find use in protecting the vehicle
  against small arms as well as medium caliber
  machine gun fire. some of the most commonplace
  ceramic materials used for developing armor
  include SiC (Silicon Carbide), AIN (Aluminum
  Nitrate), ZTA (Zirconium Toughened Alumina),
  Al2O3 (Aluminum Oxide), TiB2 (Titanium
  di-Boride), B4C (Boron Carbide).

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Major Companies Vehicle Armor Market

• ASL GRP
• DEW Engineering
• Development ULC
• SSAB

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Regional Vehicle Armor Market

• Geographically, the North America vehicle armor
  industry is projected to cross a valuation of
  890 million by the end of the analysis period
  owing to the increasing military armament
  development as well as counterterrorism programs.
  The regional market expansion is led by the
  United States, which is known as the country with
  the worlds highest defense budgets.
• In fact, the U.S. DOD (Department of Defense)
  has granted an immense 700 billion budget
  towards military sector development. Meanwhile,
  the regional growth is also likely to come from
  Canada as the Canadian government had announced
  that it would be increasing its defense budget by
  over 70 in the next decade. Such budget
  decisions would greatly fuel armored vehicle
  sales, further stimulating the regional market
  expansion.

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