Armored Vehicle Market Global Size, Growth Insight, Share, Trends, Industry Key Players, Regional Forecast To 2027
The global armored vehicle industry size is projected to reach USD 26.12 billion by 2026, exhibiting a CAGR of 5.36% during the forecast period. Steady ramping up of military expenditure by countries will prove beneficial for this market, observes Fortune Business Insights™ in its report, titled “ Armored Vehicle Market Size , Share and Industry Analysis, By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), By Mobility (Wheeled, Tracked), By System (Engine, Drive Systems, Ballistic Armor, Turret Drives, Ammunition Handling Systems, Others) and Regional Forecast, 2019-2026 ”. The latest report by the Stockholm International Peace Research Institute (SIPRI) reveals that in 2019, cumulative global military spending stood at USD 1917 billion, rising by 3.6% from 2018 level. The largest spenders, the SIPRI reports, were US, China, India, Russia, and Saudi Arabia (in that order). This increasing expenditure on the armed forces shows the intent of the