The 8×8 Armored Vehicle Market – Key Drivers, Trends and New Developments

With the rapid transition from tracked to wheeled platforms in the global armoured vehicles market, the importance of 8×8 vehicles have increased manifold over the past few decades. The growing popularity of such vehicles can be attributed to their better mobility and light weight, which results in improved combat capability in a battlefield. Additionally these vehicles also require lower operational and maintenance costs, while ensuring a longer operational life.

Scope

• Large scale modernization initiatives being undertaken by key defense spenders across the world are a primary factor that will drive the demand in the 8×8 armored vehicle market over the coming years. The need to replace aging vehicle fleets, particularly in countries in the European and Asian regions, is expected to further fuel the growth of this sector.

• Modularity is a key attribute that is gaining increased popularity in 8×8 military vehicles. Driven by the high demand for modular 8×8 vehicles, prominent manufacturers are coming up with vehicles that offer enhanced modularity, thus offering high flexibility in critical battlefield operations while ensuring lower costs.

• The growth of the 8×8 armored vehicle sectors in emerging markets is expected to outpace that of traditional markets over the coming years. While traditional markets such as the US and Europe are currently focusing on building their naval and air force capabilities, emerging nations in Asia and the Middle East are more focused on modernizing their vehicle fleets in an effort to enhance the capabilities of their ground forces.

Reasons to Buy

Determine prospective investment areas based on trend analysis of the global 8×8 armored vehicle market

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