MEA 8X8 Armored Vehicle Market Size Worth $1.09 Billion By 2025

[sara James]

The MEA 8x8 Armored Vehicle Market size is expected to reach USD 1.09 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.8% over the forecast period. Increasing national defense budgets coupled with the growing multilateral collaborations such as the one between the African Union and the North Atlantic Treaty Organization (NATO), to maintain peace and to counter terrorism is expected to drive the growth.

Armed forces in the MEA region are preparing aggressively to be able to counter all sorts of threats and respond efficiently to emergencies arising from insurgencies and militant attacks in view of the growing terrorist activities. They are opting for the latest military equipment, including armored fighting vehicles and infantry fighting vehicles. This factor is anticipated to bode swell for the growth of the Middle East and Africa 8x8armored vehicle market in the region.

Homeland security departments in Middle East and Africa are equally seeking 8x8 armored vehicles in view of the growing communal riots and organized crimes within the region. The demand for armored vehicles from law enforcement agencies is increasing as a result thereby driving growth of the MEA 8x8 armored vehicle market.

Advances in technology have resulted in the development of innovative 8x8 armored vehicles. For instance, electronic sensors are helping the occupants of armored vehicles detect the location of allies as well as enemies within a specified range. Similarly, robust touchscreen displays are allowing drivers of armored vehicles to communicate via emails and navigate accurately using a compass. At the same time, the leading market players are investing aggressively in R&D to develop lighter armored vehicles with improved mobility without compromising on the strength.

Related Press Release@ MEA 8X8 Armored Vehicle Market

MEA 8X8 Armored Vehicle Market Report Highlights

• Main Battle Tanks (MBT) segment is expected to emerge as the fastest-growing product segment over the next six years, registering the highest CAGR of about 6.2%. Increasing preference by armed forces owing to the strength as well as the high level of protection offered by MBTs is anticipated to fuel the growth
• Law enforcement agencies remain keen on countering the growing organized crimes in various cities within MEA. At the same time, embassies are emphasizing on protecting the foreign delegates. This is compelling the homeland security departments to procure 8x8 armored vehicles
• Saudi Arabia is expected to continue leading over the forecast period and reach USD 344.2 million by 2025. The Saudi Arabian government is aggressively purchasing 8X8 armored vehicle systems to strengthen the national defense and to equip the armed forces to face any sorts of insurgencies originating in the future.
• The key participants in the MEA 8X8 armored vehicles market include BAE Systems; General Dynamics Corporation; Iveco; Lockheed Martin Corporation; Oshkosh Defense LLC; and STAT Inc., among others

MEA 8X8 Armored Vehicle Market Segmentation

Grand View Research has segmented the MEA 8X8 armored vehicle market on the basis of product, application, and region:

MEA 8X8 Armored Vehicle Product Outlook (Revenue, USD Million, 2014 - 2025)

• Armored Personnel Carrier (APC)
• Infantry Fighting Vehicle (IFV)
• Light Protected Vehicle (LPV)
• Main Battle Tank (MBT)
• Mine-Resistant Ambush Protected (MRAP) Vehicle
• Tactical Vehicle
• Others

MEA 8X8 Armored Vehicle Application Outlook (Revenue, USD Million, 2014 - 2025)

• Defense
• Homeland Security
• Commercial

MEA 8X8 Armored Vehicle Regional Outlook (Revenue, USD Million, 2014 - 2025)

• Saudi Arabia
• UAE
• Libya
• Yemen
• Africa