Armored Vehicles MRO Market Focussed on Survivability and Adaptability
The Armored Vehicle MRO market consists of four categories: APC MRO, MBT MRO, MRAP MRO and Tactical Truck MRO. The value of the market is expected to increase at a CAGR of 5.86% during the forecast period (reference graph).
Technological innovations in the field of armored vehicles MRO have garnered significant interest over the last decade. With global defense budgets shrinking or growing at a marginal pace, countries are now looking to maintain, repair and upgrade their defense equipment instead of developing new programs. Moreover, the recent nuclear proliferation being carried out by Iran has heightened military tensions between Iran, the US and Israel. The possible conflict has resulted in the US spending heavily on getting its existing military equipment ready for battle, which in turn is driving the armored vehicles MRO industry. Technological innovations in this domain are oriented towards developing stealth capabilities, enhancing armor protection and other counter insurgency measures.
The Global Armored Vehicles MRO Market 2012-2022
The armored vehicles MRO market is currently characterized by a focus on survivability and adaptability. Traditional threats such as enemy tanks or sophisticated antitank missiles have assumed less importance in recent years; while large improvised explosive devices (IED) and rocket propelled grenades (RPG) that are used to attack the more vulnerable flanks and rear of the armored vehicles, pose the maximum threat. Military operations in former Yugoslavia, Somalia, Israel and Iraq have shown the need for all-round protection particularly when operating in urban environments. Companies operating in the military armored vehicles MRO domain are now aware that solutions must be oriented towards protection against a range of threats including medium and large-calibre kinetic energy rounds, shaped-charge warheads, explosively formed projectiles, high explosive squash head, shell fragments and small arms.
One of the major challenges being faced by the global armored vehicles MRO industry is balancing the ever increasing weight of the armored vehicles with the need for increased protection. Moreover, manufacturers are also facing a problem of achieving high mobility for heavily protected vehicles. To combat this problem, the US Army is investing in technologies to develop composite armors that are lighter than the all-metal equivalent, occupying a larger volume for the same resistance to penetration. However, these currently are expensive and governments are looking for ways to develop this material affordably.
Source : ASDReports - Market Research
Jan 26 - 29, 2015 - London, United Kingdom