Armoured Vehicle Spending $10.4bn

Thursday 31 March 2011, Amsterdam

Many countries are in the midst of acquisition or upgrade programmes to replace or refurbish large fleets of armoured vehicles. However, reduced defence budgets were announced by many countries in 2010 which have had an impact on some armoured vehicle programmes, although there are other nations that are actually set to increase defence spending. Armoured vehicles of various types have been found to be critical whether in conventional battles or in counter-insurgency-type conflicts, and thus programmes related to these are expected to see considerable funding in coming years. 'The Armoured Vehicles Market 2011-2021' report assesses that the global armoured vehicle spending was worth over $10.4bn in 2010 and demand will pick up over the next few years.

There will be robust demand for armoured vehicles in the next decade. New acquisitions also clearly outstrip upgrade programmes although there are also significant programmes of the latter. 'The Armoured Vehicles Market 2011-2021' report is packed with over 80 charts that show key trends in the armoured vehicles market at the global level and in 20 leading national markets.

The United States will remain the largest market although it won't have a dominant share. Key markets also include countries like Germany, the United Kingdom and France which have all announced reduced defence spending but remain committed to a number of important armoured vehicle programmes. Countries like India and South Korea, on the other hand, are actually increasing defence spending and likewise expected to be key markets. Other notable markets include Saudi Arabia, Australia, Turkey and Brazil. 'The Armoured Vehicles Market 2011-2021' report provides forecasts for the period 2011-2021 in terms of value (US$) for the global market.