Report description overview:
The new report now available on ASDReports, provides a detailed analysis of the competitive landscape of the Armored and Counter IED Vehicles market. It provides an overview of key Armored and Counter IED Vehicles companies catering to the Armored and Counter IED Vehicles sector, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Although the US and Europe — traditionally the largest defense spenders — have very strong armored vehicle industries and are self-reliant, recent economic downturn has reduced the foreseen demand for armored vehicles, and the ever-rising cost of technology developments has forced the main Western suppliers to form alliances and partnerships among themselves to share development costs and access foreign markets.
Russia and China depend almost entirely on their home industrial base for armored vehicles and related technology. However, growing economies such as Brazil, India, Turkey, Saudi Arabia and the UAE offer a lucrative market opportunity for foreign armored vehicle manufacturers. These countries, some of which have relatively little or no armored vehicle capabilities, are attractive markets for the joint development of systems, leading to new alliances, consortiums, mergers, and acquisitions in the future.
Other nations in South America, Africa and South East Asia are also poised to be attractive markets, and specifically offer market opportunities for refurbished vehicles. Companies from developing nations such as Otokar and NORINCO are likely to benefit from these markets due to the cost advantage they bring with their products.
The above competitive trend will create three main groups of companies; innovators, who act as prime contractors and take a leading role in integrating the various technologies and capabilities into one platform, OEMs, who manufacture the vehicle as a whole and other capabilities and developers of niche capabilities in areas such as vetronics and protection.
Source: ASDReports - Market Research
Date: Jul 24, 2014