The armored vehicle market is a dynamic and ever-changing industry. As new threats emerge and technology advances, we can expect to see even more innovative and capable armored vehicles in the years to come. These vehicles will play a vital role in protecting troops and equipment in future conflicts. The armored vehicle market is estimated at US$ 28.14 billion in 2022 and is expected to grow at a CAGR of 5.80% during 2022-2028 to reach US$ 18.19 Billion in 2028.

The armored vehicle market is expected to grow significantly in the coming years, driven by a number of factors, including:

• Increased geopolitical tensions: The rise of new and emerging threats, such as terrorism and cyberwarfare, is driving demand for armored vehicles to protect troops and equipment.
• Rising defense budgets: Many countries are increasing their defense budgets, which is leading to increased investment in armored vehicles.
• Advances in technology: New technologies, such as lightweight materials and advanced sensors, are making armored vehicles more capable and survivable.

The following are some of the key trends that are expected to shape the armored vehicle market in the future:

• Increased demand for light armored vehicles: Light armored vehicles are becoming increasingly popular, as they offer a good balance of protection and mobility. These vehicles are often used by law enforcement and security forces, as well as by military forces for peacekeeping and humanitarian operations.
• Growing demand for unmanned armored vehicles: Unmanned armored vehicles are becoming increasingly common, as they offer a number of advantages over manned vehicles, such as reduced risk to personnel and the ability to operate in dangerous or hazardous environments.
• Increased use of composite armor: Composite armor is becoming increasingly popular, as it offers better protection than traditional steel armor. Composite armor is also lighter, which makes it easier to transport and operate armored vehicles.
• Development of new weapons and ammunition: New weapons and ammunition are being developed to improve the lethality of armored vehicles. This includes armor-piercing rounds, guided missiles, and anti-tank mines.

The future of the armored vehicle market is bright. As technology continues to advance, we can expect to see even more innovative and capable armored vehicles in the years to come. These vehicles will play a vital role in protecting troops and equipment in future conflicts.

Here are some additional trends to watch for:

• The use of electric power: Electric power is becoming more common in armored vehicles, as manufacturers look to reduce fuel consumption and improve environmental sustainability.
• The development of new technologies for situational awareness: New technologies, such as 360-degree cameras and thermal imaging, are being developed to improve situational awareness for armored vehicle crews. This will help them to better identify and respond to threats.
• The increasing use of artificial intelligence (AI): AI is being used to improve the performance of armored vehicles in a number of ways, such as automating tasks such as target identification and weapons firing.