Armored vehicles AFES: Key market research findings
- Increased use of modern AFES
- Development of next-generation military combat vehicle
Technavio has released a new market research report on the global armored vehicles AFES market which is expected to grow at a CAGR of 5% between 2016 and 2020. AFES preserve the cabin and engine compartment of the vehicle with the help of sensors and protect the crew from hazards such as improvised explosive device (IED) threats and fuel explosions. EMEA leads the global armored vehicles AFES market, accounting for 60% of the overall market revenue. Much of the region’s growth comes from rising investments and increase in the defense budget, particularly in the middle east.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Manufacturers are evaluating various technologies that can be applied to protect the exterior of the vehicle from fire and improve crew survivability. They are making improvements in the engine and cabin compartment to comply with the new design parameters of the modern armored vehicles, tactical vehicles, and other future combat vehicles (FCV). Owing to increasing demand in military applications, vendors are incorporating additional features in AFES including unique valve designs, embedded prognostics and microprocessor-based control units,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
Various innovations are taking place in the military vehicles to protect the crew, and increase the probability of operation success. Several vendors are working with defense agencies to develop advanced armored vehicles. For instance, Lockheed Martin and the US army have developed joint light tactical vehicles (JLTVs), which aims at improving survivability and performance over conventional HMMWV fleet by minimizing maintenance procedures and improving fuel efficiency, payload capacity, and reliability.
The key vendors in the global armored vehicles AFES market are Bulldog Direct Protective Systems, Firetrace Aerospace, Kidde-Deugra, N2 Towers and Spectrex. This market is highly competitive, where vendors compete based on cost, reliability, quality, and aftermarket services. To maintain competitive edge in the market, the players are offering cost-effective and high-quality services to maintain a strong client base.
A more detailed analysis is available in the Technavio report, Global Armored Vehicles AFES Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
