Defense mechanism: Stabilized military budgets and rising geopolitical tension will boost industry demand

IBISWorld’s industry research report on Armored Vehicle Manufacturing provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.


Industry Threats & Opportunities

  • Continued budget cuts are anticipated to keep US military demand for industry products low
  • Increasing geopolitical tension in the Middle East and Asia has driven export demand
  • The defense budget is expected to stabilize, enabling spending on industry products to rise

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    Industry Analysis & Industry Trends

    The Armored Vehicle Manufacturing industry experienced significant declines over the five years to 2016. Prior to the five-year period, US combat operations in the Middle East and a climbing defense budget created a boom in demand for armored vehicles. However, just before the current five-year period, this trend reversed. The United States began to wind down combat operations in the Middle East, the defense budget was cut and the sequestration eventually kicked in. In the five years to 2021, the defense budget is anticipated to eventually stabilize, and development and production programs like the Armored Multi-Purpose Vehicle and the Joint Light Tactical Vehicle should increase demand for industry products...

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    Industry Report - Industry Analysis Chapter

    The Armored Vehicle Manufacturing industry took a direct hit over the past five years. Industry players research, develop, manufacture, modify and repair military armored vehicles, including infantry fighting vehicles, armored personnel carriers, mine-resistant ambush protected (MRAP) vehicles, self-propelled artillery and armored utility vehicles. Before the five-year period, the industry was undergoing a boom in demand. With the United States engaged in two wars, demand for armored vehicles, especially MRAPs, skyrocketed. However, over the past five years, the United States began to wind down combat operations, while the defense budget was cut and sequestration kicked in. Consequently, military spending on industry products plunged, causing the industry to shrink. The..

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    Additional Insights for the Armored Vehicle Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Armored Vehicle Manufacturing Industry are

  • Provision of superior after sales service
  • Undertaking technical research and development
  • Financial structure of the company
  • IBISWorld analysts also discuss how external factors such as Federal funding for defense and NATO defense spending in the Armored Vehicle Manufacturing industry impact industry performance..

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    Industry Products

    What is the Armored Vehicle Manufacturing Industry?

    This industry includes establishments engaged in manufacturing, modifying, repairing and servicing military armored vehicles. These vehicles are utilized in combat to transport infantry, ammunitions or to provide combat support. Tanks are not included in this industry.

    Industry Products
    Mobile artillery vehicles
    Tracked armored vehicles
    Wheeled armored vehicles
    Industry Activities
    Manufacturing armored vehicles and parts
    Manufacturing self-propelled weapons
    Modification of armored vehicles
    Repair of armored vehicles

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Federal funding for defense
  • NATO defense spending
  • Price of steel
  • Trade-weighted index

  • Current Performance
  • Direct hit
  • Trade
  • Other trends
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry growth
  • Other trends
  • Table: Armored Vehicle Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Armored Vehicle Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Public Administration

  • Key Selling Industries
  • Engine & Turbine Manufacturing
  • Nonferrous Metal Foundry Products Manufacturing
  • Paint Manufacturing
  • Screw, Nut & Bolt Manufacturing
  • Structural Metal Product Manufacturing
  • Tire Manufacturing

  • Products & Services
  • Wheeled armored vehicles
  • Tracked armored vehicles
  • Mobile artillery vehicles
  • Chart: Armored Vehicle Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • US defense spending
  • Foreign demand
  • Technological and environmental change

  • Major Markets
  • Army
  • Exports
  • Marines
  • Chart: Major Market Segmentation for the Armored Vehicle Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Armored Vehicle Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Armored Vehicle Manufacturing Industry

  • Industry Globalization
    Major Companies
    BAE Systems PLCGeneral Dynamics Corp.Oshkosh Corporation Navistar International Corp.
  • Table: BAE Systems PLC - financial performance
  • Table: General Dynamics Corp. - financial performance
  • Table: Oshkosh Corporation - financial performance
  • Table: Navistar International Corp. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Armored Vehicle Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Armored Vehicle Manufacturing Industry
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Exports (2007-2021)
  • Imports (2007-2021)
  • Wages (2007-2021)
  • Federal funding for defense (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Bradley Fighting Vehicle (Bfv)
  • A fully armored, fully tracked tank produced by BAE Systems that is designed to carry mechanized infantry into close contact with the enemy.
  • Mine Resistant Ambush Protected (Mrap)
  • Vehicles designed to survive improvised explosive device (IED) attacks and ambushes.
  • Stryker
  • An eight-wheeled armored personal carrier produced by General Dynamics.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Armored Vehicle Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Armored Vehicle Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Armored Vehicle Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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