Demand for military armored vehicle upgrades and retrofits to hit $4.76 billion this year
LONDON, 11 Sept. 2014. Global demand for military armored vehicle upgrades and retrofits will reach $4.76 billion this year, predict analysts at market researcher Visiongain Ltd. in London.
System and vetronics upgrades and retrofits are less costly than new armored vehicle acquisitions in this era of pressures on defense budgets, Visiongain analysts say, adding that many armored vehicles can serve for many more years than originally planned if given upgrades.
The withdrawal of U.S.-led forces in Afghanistan by the end of 2014 is expected to shift the focus away from land systems, and the upgrading of existing armored vehicle fleets provide a cost-effective way of keeping the required numbers in service, Visiongain analysts say.
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The Visiongain report, entitled Armoured Vehicle Upgrade & Retrofit Market Forecast 2014-2024, makes sales predictions for the key end use submarkets from 2014-2024.
The report covers upgrades and retrofits to medium armored vehicles; main battle tanks; medium mine-resistant vehicles; light protected vehicles; and other armored vehicles.
The report also covers the armored vehicle upgrade and retrofit market over the next decade in the 20 leading national markets: the U.S., Canada, United Kingdom, France, Germany, Norway, Turkey, Italy, Brazil, Russia, India, China, Japan, South Korea, Australia, Saudi Arabia, United Arab Emirates, Iraq, Egypt, Israel, and the rest of the world.
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Also covered are what Visiongain analysts identify as the 20 leading armored vehicle upgrade and retrofit companies: BAE Systems, Elbit Systems, Exelis Inc., Finmeccanica SpA, General Dynamics, Honeywell International Inc, Kongsberg Gruppen ASA, Krauss-Maffei Wegmann GmbH and Co KG, Lockheed Martin Corporation, Navistar Inc, Nexter Group, Nurol Holding AS, Oshkosh Corporation, QinetiQ Group Plc, Rafael Advanced Defense Systems Ltd, Renco Group, Rheinmetall AG, Thales Group, Uralvagonzavod PLC, and Volvo Group.
For more information contact Visiongain online at www.visiongain.com.
John Keller | Editor
John Keller is editor-in-chief of Military & Aerospace Electronics magazine, which provides extensive coverage and analysis of enabling electronic and optoelectronic technologies in military, space, and commercial aviation applications. A member of the Military & Aerospace Electronics staff since the magazine's founding in 1989, Mr. Keller took over as chief editor in 1995.
