#Armored Vehicle Market Forecast

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Armored Vehicle Market to enjoy 'explosive growth' to 2030

Latest business intelligence report released on Global Armored Vehicle Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Armored Vehicle market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis: Oshkosh Corporation (United States), UralVagonZavod (Russia), Ukroboronprom (Ukraine), General Dynamics Corporation (United States), BAE Systems plc (United Kingdom), NORINCO (China), Rheinmetall AG (Germany). Download Free Sample PDF Brochure (Including Full TOC, Table & Figures) @ https://www.advancemarketanalytics.com/sample-report/1792-global-armored-vehicle-market-1 Brief Overview on Armored Vehicle: The armored vehicle is a vehicle that is guarded by means of armor plate. The major companies are adding more proven technologies systematically and strategically in the Asia Pacific, Africa and the Middle East owing to increasing political pressure, hostile activities, and terrorism in this region. Moreover, growing defense spending by governments globally is likely to support the growth of the armored vehicles market. For instance, BAE Systems received a contract worth USD 376.0 million from the US Government for the development, engineering, and manufacturing of mobile protected firepower vehicles for use across the spectrum of terrains and operations. Key Market Trends: Technological Developments and Improvements towards Reducing the Weight and Size of Armored Vehicles Opportunities: Increasing Demand for Modular Armored Vehicles

Rising Demand from the Developing Economies

Market Growth Drivers: Increasing Incidences of Cross-Border Conflicts

Emphasizing On Military Modernization Plans

Challenges: Absence of OEMs in Emerging Economies Segmentation of the Global Armored Vehicle Market: by Platform (Combat Vehicles (Main Battle Tanks (MBTs), Infantry Fighting Vehicles (IFVs), Armored Personnel Carriers (APCs), Armored Amphibious Vehicles (AAVs), Others), Combat Support Vehicles (Armored Supply Trucks, Armored Command and Control Vehicles, Repair and Recovery Vehicles, Others), Unmanned Armored Ground Vehicles), Mobility (Wheeled (4x4, 6x6, 8x8, Others), Tracked), System (Engines, Drive Systems, Ballistic Armor, Composite Armor, Explosive Reactive Armor, Electric Armor, Others) Purchase this Report now by availing up to 10% Discount on various License Type along with free consultation. Limited period offer. Share your budget and Get Exclusive Discount @: https://www.advancemarketanalytics.com/request-discount/1792-global-armored-vehicle-market-1 Geographically, the following regions together with the listed national/local markets are fully investigated: • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) • North America (U.S., Canada, and Mexico) • South America (Brazil, Chile, Argentina, Rest of South America) • MEA (Saudi Arabia, UAE, South Africa)Furthermore, the years considered for the study are as follows: Historical data – 2017-2022 The base year for estimation – 2022 Estimated Year – 2023 Forecast period** – 2023 to 2028 [** unless otherwise stated] Browse Full in-depth TOC @: https://www.advancemarketanalytics.com/reports/1792-global-armored-vehicle-market-1

Summarized Extracts from TOC of Global Armored Vehicle Market Study Chapter 1: Exclusive Summary of the Armored Vehicle market Chapter 2: Objective of Study and Research Scope the Armored Vehicle market Chapter 3: Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis Chapter 4: Market Segmentation by Type, End User and Region/Country 2016-2027 Chapter 5: Decision Framework Chapter 6: Market Dynamics- Drivers, Trends and Challenges Chapter 7: Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile Chapter 8: Appendix, Methodology and Data Source Buy Full Copy Armored VehicleMarket – 2021 Edition @ https://www.advancemarketanalytics.com/buy-now?format=1&report=1792 Contact US : Craig Francis (PR & Marketing Manager) AMA Research & Media LLP Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

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Armored Vehicles Market Growth, Overview with Detailed Analysis 2022-2028

Armored Vehicles Market Growth, Overview with Detailed Analysis 2022-2028

The Armored Vehicles Market research report 2022-2030 provides an in-depth analysis of the changing trends, opportunities, and challenges influencing the growth over the next decade. The study includes a detailed summary of each market along with data related to demand, supply and distribution. The report examines Armored Vehicles market growth strategies adopted by leading manufacturers which…

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Carbon Fiber Market - Forecast (2024 - 2030)

Carbon Fiber Market Overview

Carbon Fiber Market size is forecast to reach $15.3 billion by 2030, after growing at a CAGR of 11% during 2024-2030. Carbon fiber is a high strength, low weight, high stiffness, conductive to electricity, and is one of the most corrosion and heat resistant material. Growing demand for lightweight products from aerospace & defense, automotive, and wind energy industries and minimizing carbon emissions are driving the market growth. Whereas, the growing building and construction sector in the emerging country is also driving the market growth. As carbon fiber is used primarily in the strengthening and reinforcement of concrete, steel, timber, and masonry. Furthermore, increasing demand for carbon fiber composite in consumer electronics has made the products lighter and thinner, and more textured is likely to drive the market growth. The carbon fiber market is witnessing a significant trend with an increased adoption in the automotive industry. As automotive manufacturers strive to enhance fuel efficiency and reduce emissions, carbon fiber composites offer a lightweight alternative to traditional materials. This shift is driven by the demand for electric and hybrid vehicles, where minimizing weight is crucial for optimizing energy efficiency and extending battery range. Carbon fiber's high strength-to-weight ratio contributes to improved vehicle performance and structural integrity. Moreover, advancements in manufacturing processes and cost reductions are making carbon fiber more economically viable for mass-produced automobiles. This trend signals a transformative shift in the automotive sector, with carbon fiber playing a pivotal role in the development of next-generation, sustainable transportation solutions. A notable development in the carbon fiber market is the increasing focus on sustainable production methods. With rising environmental concerns and a push for eco-friendly materials, carbon fiber manufacturers are exploring ways to minimize the environmental impact of their production processes. Innovations include the use of bio-based precursors, recycling of carbon fiber waste, and energy-efficient manufacturing techniques. This trend aligns with global efforts to achieve carbon neutrality and reduce the overall carbon footprint of industries. Sustainable carbon fiber production not only addresses environmental concerns but also caters to the growing demand for green products in various sectors, including aerospace, automotive, and renewable energy. As sustainability becomes a key consideration for businesses and consumers alike, the carbon fiber market is evolving to meet these changing expectations and contribute to a more environmentally responsible future.

 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 

Carbon Fiber Market Report Coverage

The report: “Carbon Fiber Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Carbon Fiber Industry. 

By Raw Material: Polyacrylonitrile Based (PAN), Pitch Based (Mesophase Pitch Based, and Petroleum Pitch Based), and Others (Ultra High Elastic Modulus (UHM), High Elastic Modulus (HM), and Low Elastic Modulus (LM)).

By Tow Type: Continuous, and Chopped.

By Application: Composite, Non-Composite, Molding Compound, Woven Fabric, and Others.

By End-Use Industry: Aerospace & Defense (Fighter Jets, Armored Vehicles, Commercial Jets, Rotorcraft, Satellites, and Others), Automotive (Interior, Exterior, and Others), Sporting Goods (Tennis Rackets, Golf Club, Hockey Sticks, Archery, Others), Energy and Power (Wind, Solar, and Others), Building & Construction (Residential, Commercial, and Others), Marine, Healthcare, Electric & Electronic, and Others.

By Geography: North America, South America, Europe, Asia-Pacific, and Middle East & Africa

Key Takeaways

Europe will continue to have the major share of total worldwide wind energy carbon fiber demand during the forecast period owing to its renewable energy targets and use of offshore wind capacity.

High price of carbon fiber is one of the factors that’s hindering the markets growth.

COVID-19 will hinder the markets growth, as the end use industry are facing a slow growth, hence reducing the demand for carbon fiber.

Carbon Fiber Market Segment Analysis - By Raw Material

Polyacrylonitrile Based (PAN) segment held the largest share of more than 65% in the carbon fiber market in 2023. The PAN based component offers various benefits like low density, high strength, high modulus, high-temperature resistance, wear resistance, corrosion resistance, fatigue resistance, creepage resistance, electric conduction, heat conduction, and far-infrared radiation. These properties of PAN make it suitable to use across various end-use industries like the aerospace & aviation industry, automotive industry, wind turbines, anti-flame materials & clothes, and sports equipment. Thus, growth in these end-use industries further drive the market growth.

Carbon Fiber Market Segment Analysis - By Tow

Continuous tow segment held the largest share of more than 60% in the carbon fiber market in 2023. Continuous tow is the most widely used tow, due to its weight, compatibility with resins, and various range of sizing available for optimal processing. These are heavy tows with 50,000 filaments, each of these tows have heavy mechanical properties, which can be transferred to the finished products and components to enhance their properties such as strength, durability and structural properties. Furthermore, Continuous tows provide cost advantage, especially when used in a high-volume process, increases the reliability of the end product, enhance production efficiency and can be merged with all thermoset and thermoplastic resin systems. Continuous tow also makes carbon fiber far superior to glass and aramid fibers because of their added strength & stiffness and are used in manufacturing wind turbines, industrial, and automotive manufacturing. Therefore, these properties & advantages of continuous tow will further drive its demand in the market.

Carbon Fiber Market Segment Analysis - By Application

Composite segment held the largest share of more than 55% in 2023 and is forecasted to be the most utilized application of carbon fiber. The high strength, high thermal & electrical conductivity, light weight, and high modulus properties of composite makes them suitable to use across aerospace & defense, automotive, sports, and wind turbine industry, which are ideal for its growth. According to a 2022 report released by Aerospace Industries Association (AIA), in 2022 American aerospace & defense industry export amounted for $100.4 billion, which rose by 11.2 percent from 2021. The other industry driving the markets growth is automobile industry. For instance, a report released by Indian Brand Equity Foundation (IBEF) in 2023, In the first quarter of 2023-24, total production of passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles was 6.01 million units. Furthermore, the growing demand for BMW i3 is also driving the market growth. As the BMW i3 is still the only car with a significant amount of carbon composite content.

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Electro Optical Targeting System Market Set for Rapid Growth Due to Increased Military Modernization Programs

The electro optical targeting system market comprises precision electro optic and infrared technologies that provide day and night targeting capabilities across air, land and naval platforms. EOTS offer enhanced situational awareness and precision strike abilities to armed forces worldwide. The growing emphasis on network centric warfare, target tracking and engagement has led to a surge in EOTS integration across fighter aircraft, helicopters, battle tanks and warships.

Global electro optical targeting system market is estimated to be valued at USD 13.96 Bn in 2024 and is expected to reach USD 20.18 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Key Takeaways Key players operating in the electro optical targeting system market include BAE Systems, Elbit Systems, FLIR Systems, General Atomics, Harris Corporation, Hensoldt, Leonardo S.p.A., L3 Technologies, Northrop Grumman, and Raytheon Technologies. These market leaders have strong footholds across geographies and possess comprehensive EOTS capabilities from sensors to fully integrated targeting pods. The Electro Optical Targeting System Market Growth  offers significant opportunities owing to integration across emerging platforms such as unmanned combat vehicles, loitering munitions and space assets. Add-on considerations such as augmented reality overlays, targeting algorithms and deep learning are widening EOTS functional scopes. Furthermore, the demand for mobile and transportable EOTS from security forces and special operations is on the rise. The global expansion of EOTS suppliers and original equipment manufacturers is being driven by burgeoning defense budgets and military modernization programs across Asia Pacific, Middle East, Eastern Europe and Latin America. Partnerships with local defense firms are enabling international EOTS players to participate in co-development and offset programs. Market drivers The key driver for the Electro Optical Targeting System Companies growth is increased military modernization programs by major armed forces globally. Leading countries are aggressively procuring new generation aircraft, helicopters, Armored Vehicles and warships equipped with advanced EOTS. Furthermore, continuous upgradation of existing military hardware and platforms with improved targeting and sensor suites is propelling aftermarket revenues. Rising global threats, border conflicts and expansion of strategic deterrence roles have strengthened the business case for sophisticated EOTS among defense organizations.

PEST Analysis Political: The electro optical targeting system market is influenced by defense budgets and spending allocated by governments. Changes in defense priorities and geopolitical risks affects procurement of these systems. Economic: Economic growth impacts defense modernization plans of armed forces. Defense expenditure is dependent on macroeconomic conditions of nations. Social: Rising threats relating to security and terrorism drives demand for advanced targeting solutions for precision strikes. Growing awareness regarding national security concerns influences investments. Technological: The market is witnessing integration of computer vision, AI and connectivity features in electro optical targeting systems. Advanced sensors and technologies enable improved detection, tracking and engagement capabilities. Geographical Regions of Concentration North America holds the major share of the electro optical targeting system market in terms of value. This can be attributed to large defense budgets and ongoing modernization initiatives of US, Canada and Mexico. Significant expenditure on military hardware supports demand from regional armed forces and allied nations. Fastest Growing Region Asia Pacific is poised to witness the fastest growth during the forecast period. Rapid defense capability enhancement of China, India, Japan, South Korea and other nations is a key factor driving the market. Initiatives to develop indigenous manufacturing capacities along with import of advanced technologies will propel the APAC electro optical targeting system market.

Get more insights on Electro Optical Targeting System Market

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )

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Cash-in-Transit Services Procurement Intelligence: Driving Business Growth

The cash-in-transit (CIT) services category is expected to grow at a CAGR of 7.9% from 2023 to 2030. APAC region holds the largest share in this category. The cash-in-transit service category is driven by a number of factors which includes the increasing number of totally automated cash-in-transit machines in developing countries, the rise in acceptance of virtual money, the large risk of demolition of banknotes due to physical damage, the increasing flow of cash in the vault for cash management, the rising deployment of ATMs, the increasing cash demand from emerging economies, and the increasing income of the population. These factors are expected to boost the growth of the category in the forecast period.

Mobile ATMs are a new trend in the CIT service category. These ATMs can be moved from location to location. This makes them ideal for meeting consumer demand in areas where there are no traditional ATMs. Major companies operating in this category are focused on introducing mobile ATMs. For instance, in May 2021, HDFC Bank, an Indian banking company, deployed mobile ATMs to provide innovative services to its customers. The mobile ATMs eliminate the need for people to withdraw cash in limited or sealed locations. Thus, customers can complete more than 15 different types of transactions using the mobile ATM.

The cash-in-transit (CIT) industry is highly competitive, with the top five suppliers constituting to more than 50 percent of the global market. Brink's is the leading supplier, followed by Prosegur, Loomis, Garda World, and G4S. More than 500 regional or local suppliers occupy the other 44 percent of the market. This supply landscape makes it favorable for mergers and further industry consolidation. The undifferentiated nature of services in the CIT industry forces suppliers to reduce prices to beat the competition. For instance,

• In July 2022, Prosegur Cash and Armaguard Group have agreed to merge in order to form a sustainable and secure cash-in-transit business in Australia.

The largest cost components in the CIT services industry are labor, vehicles, insurance, and technology. These costs are incurred due to the need for highly trained and experienced personnel, specialized vehicles, and specialized technology to safely transport cash. The cost of labor is the largest cost component, accounting for an estimated 60-70% of total costs. This is due to the need for highly trained and experienced personnel to safely transport cash. The cost of vehicles is the second largest cost component due to the need for specialized vehicles that are designed to safely transport cash. The cost of armored vehicles varies between USD 25,000 to 80,000 depending on the size, capacity, and other particular specifications of the vehicle.

Order your copy of the Cash-in-Transit Services Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Cash handling and transaction services can be outsourced to specialists who can provide these services with precision and security. This is because specialist service providers can continuously implement new technologies, such as the CIT Tracker, which is a covert device that alerts security personnel when theft occurs. The CIT Tracker also supports in recovering assets and apprehending criminals. Both India and China have a large workforce and a low cost of labor. This means that the cost of cash-in-transit services in these countries is relatively low. Additionally, there are many local manufacturers of armored vehicles in both countries, which further lowers the cost of vehicles. The cost of insurance is also relatively low in both countries. For sourcing CIT services, in addition to doing research and getting quotes, organizations can also get recommendations from peers, look for providers accredited by industry associations, and ask about contingency plans in case of incidents such as thefts. These are all good ways to ensure that a cash-in-transit provider meets high standards and can protect cash in the event of an emergency. 

Cash-in-Transit Services Procurement Intelligence Report Scope

• Cash-in-Transit Services Category Growth Rate: CAGR of 7.9% from 2023 to 2030

• Pricing growth Outlook: 6 - 8% (annual)

• Pricing Models: Fixed fee pricing model, Unit pricing model, Value-based pricing model

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Pricing, reputation, compliance, security, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Browse through Grand View Research’s collection of procurement intelligence studies:

• ATM Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Payment Processing Solutions Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Key companies profiled

• Brink’s Incorporated

• Cash Logistik Security AG

• CMS Info Systems Ltd.

• G4S Limited

• GardaWorld

• Global Security Logistic Co.

• Security and Intelligence Services Ltd.

• Loomis AB

• Prosegur

• Cash in Transit Solutions Pty Ltd.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

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Cybersecurity and Active Protection Systems: Navigating Market Trends and Challenges

The global defense sector is undergoing a significant transformation, driven by advancements in technology and the rising complexity of modern warfare. Among the critical areas of focus is the integration of Active Protection Systems (APS) into military platforms such as armored vehicles, naval vessels, and aircraft. APS are designed to protect these assets from incoming threats like missiles and projectiles by detecting and neutralizing them before they can cause harm. As these systems become more sophisticated and connected, they also become increasingly vulnerable to cyber-attacks. This vulnerability has put a spotlight on the cybersecurity of APS, a crucial aspect that is now driving significant market trends within the industry.

Market Size and Growth Dynamics

The Active Protection System Market is projected to grow from USD 3.9 Billion in 2022 to USD 5.2 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. This growth is largely attributed to the increasing adoption of APS by military forces worldwide, driven by the need for enhanced protection of critical assets in hostile environments. As the deployment of APS expands, so does the exposure to cyber threats, necessitating robust cybersecurity measures.

The rising number of cyber-attacks targeting defense systems is a significant driver of growth in the cybersecurity segment of the APS market. According to recent market statistics, there has been a marked increase in the frequency and sophistication of cyber-attacks on military systems. In fact, between January 2022 and June 2022, there were over 65 reported cyber-attacks on government agencies worldwide, many of which targeted defense networks. This growing threat has made cybersecurity a top priority for governments and defense contractors, leading to substantial investments in securing APS from cyber threats.

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Industry Trends: The Convergence of Cybersecurity and Active Protection Systems

The integration of cybersecurity into APS is not just a reactive measure but is becoming a proactive strategy to ensure the reliability and effectiveness of these systems. Several key trends are shaping the cybersecurity landscape within the APS industry:

Advanced Threat Detection and Response Mechanisms:

Modern APS are increasingly equipped with sophisticated threat detection technologies, such as digital radar processors, optoelectronic sensors, and thermal imaging devices. These technologies enhance the system's ability to identify and neutralize incoming threats. They also create potential entry points for cyber-attacks. To mitigate this risk, manufacturers are integrating advanced cybersecurity protocols that monitor system integrity in real-time, detect anomalous behavior, and initiate automated countermeasures against potential cyber intrusions.

Secure Communication Networks:

The effectiveness of APS heavily relies on the seamless communication between sensors, processors, and countermeasure systems. This interconnectedness, however, presents a vulnerability that cyber adversaries can exploit. As a result, the industry is witnessing a shift towards the development of secure communication networks that are resistant to jamming, interception, and unauthorized access. These networks utilize encryption, frequency hopping, and other security measures to ensure that data transmitted within the APS remains confidential and tamper-proof.

Integration of Artificial Intelligence (AI) and Machine Learning (ML):

AI and ML are playing an increasingly vital role in enhancing the cybersecurity of APS. These technologies enable the systems to learn from past incidents, identify emerging threats, and adapt to new attack vectors. AI-driven cybersecurity solutions can predict potential vulnerabilities within the APS and autonomously deploy patches or reconfigure the system to counteract the identified risks. This trend towards AI-enhanced cybersecurity is expected to become a standard feature in next-generation APS.

Compliance with International Cybersecurity Standards:

The global nature of military operations necessitates that APS meet stringent cybersecurity standards that are recognized internationally. Defense organizations are now mandating compliance with frameworks such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework, ISO/IEC 27001, and the European Union Agency for Cybersecurity (ENISA) guidelines. Adherence to these standards ensures that APS are designed, developed, and deployed with cybersecurity as a foundational element, reducing the risk of compromise during operations.

Collaboration Between Defense Contractors and Cybersecurity Firms:

Recognizing the growing importance of cybersecurity, defense contractors are increasingly partnering with specialized cybersecurity firms. These collaborations aim to integrate cutting-edge cybersecurity technologies into APS, leveraging the expertise of cybersecurity companies to address specific vulnerabilities. This trend is fostering innovation and leading to the development of more resilient APS that can withstand sophisticated cyber-attacks.

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Market Challenges and Opportunities

While the integration of cybersecurity into APS presents numerous opportunities, it also comes with challenges that the industry must address to ensure the continued growth of the market.

Challenges:

High Development and Implementation Costs:

One of the primary challenges facing the APS market is the high cost associated with developing and implementing advanced cybersecurity solutions. The complexity of modern APS, coupled with the need for rigorous testing and validation of cybersecurity measures, drives up costs. This challenge is particularly pronounced for smaller defense contractors and nations with limited defense budgets, which may struggle to afford the latest cybersecurity technologies.

Rapidly Evolving Cyber Threat Landscape:

The cyber threat landscape is continuously evolving, with adversaries constantly developing new methods to breach defense systems. This dynamic environment requires APS manufacturers to stay ahead of emerging threats by continuously updating their cybersecurity measures. This need for ongoing innovation can strain resources and create challenges in maintaining the cybersecurity of APS over their lifecycle.

Interoperability and Standardization Issues:

As APS are deployed across various platforms and integrated with different systems, ensuring interoperability while maintaining robust cybersecurity can be challenging. Differences in standards, protocols, and technologies across platforms can create vulnerabilities that adversaries may exploit. Addressing these interoperability issues is critical to the success of cybersecurity efforts in the APS market.

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Opportunities:

Rising Demand for Cybersecurity Expertise:

The growing focus on cybersecurity within the APS market presents significant opportunities for cybersecurity firms. Defense contractors are increasingly seeking partnerships with cybersecurity experts to enhance the resilience of their systems. This demand is expected to drive growth in the cybersecurity sector, particularly in areas such as secure communications, threat detection, and AI-driven cybersecurity solutions.

Government Initiatives and Funding:

Governments worldwide are recognizing the importance of cybersecurity in defense and are providing funding and support for the development of secure APS. The U.S. Department of Defense (DoD) has launched initiatives aimed at strengthening the cybersecurity of military systems, including APS. These government-led efforts are expected to create a favorable environment for innovation and investment in cybersecurity solutions for the APS market.

Expansion into Emerging Markets:

As emerging economies invest in modernizing their military capabilities, there is a growing opportunity for APS manufacturers to expand into these markets. Countries in Asia, the Middle East, and Latin America are increasingly adopting APS to protect their armored fleets, creating new demand for cybersecurity solutions tailored to the needs of these regions. Manufacturers that can offer cost-effective, scalable, and secure APS are well-positioned to capitalize on this growing demand.

Top 5 Key Market Players in Active Protection System Market:

The Active Protection System Companies is dominated by globally established players such as

Rheinmetall AG (Germany),

Saab AB (Sweden),

Raytheon Company (US),

Airbus (Netherlands), and

ASELSAN AS (Turkey)

The convergence of cybersecurity and active protection systems represents a significant evolution in the defense industry. As the global threat landscape becomes increasingly complex, the need for secure, resilient, and adaptable APS has never been greater. The market statistics indicate robust growth in the APS market, driven by the rising demand for advanced protection solutions in an era of cyber warfare.

While challenges such as high costs and the evolving nature of cyber threats present hurdles, the opportunities for innovation, collaboration, and expansion are substantial. The continued investment in cybersecurity by both governments and private sector players will be crucial in ensuring that APS can effectively protect military assets from both physical and cyber threats. As the industry moves forward, the integration of cybersecurity into APS will become a defining characteristic of next-generation defense systems, safeguarding them against the growing threat of cyber-attacks.

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Armor Materials Market worth $16.1 billion by 2027

The report "Armor Materials Market by Materials Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), & Region (Asia Pacific, North America, Europe, South America) – Global Forecast to 2027", size was USD 11.0 billion in 2021 and is projected to reach USD 16.1 billion by 2027, at a CAGR of 6.6% from 2022 to 2027.

Download pdf-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25444492

The market is projected to grow because of the expanding use of lightweight aluminum alloys in military vehicles like troop carriers. Lightweight aluminum alloys are utilized for equipment transportation, especially air transport for military vehicles, due to their superior performance. The government's growing concern over safety issues has also resulted in new investments in body armor for law enforcement and military personnel, expanding the market for armor materials.

 Vehicle armor was the largest application of the armor materials market, in terms of value, in 2021

Due to the increasing use of lightweight aluminum alloys in military vehicles like personnel carriers, which will spur market growth, the vehicle armor segment accounted for largest share in 2021, in terms of value. Lightweight aluminum alloys are utilized for equipment transportation, especially air transport for military vehicles, due to their superior performance.

Metals & alloys is estimated to be the largest material type of the armor materials, in terms of value, during the forecast period.

Metals and alloys, ceramics, composites, para-aramid fiber, ultra-high-molecular-weight polyethylene, fiberglass, and others are the different market segments based on the material type. During the projection period, Metals & Alloys are projected to hold the largest market share for armor materials. The metals utilized as armor materials for diverse applications, such as vehicle, aircraft, body, civil, and marine armor systems, include high-density steel, titanium, aluminum, and their alloys.

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North America is estimated to be the largest market for the armor materials market, in terms of value, during the forecast period.

North America is projected to be the largest market for armor materials, driven by the US Army's constant need for advanced armor systems and the spike in demand for homeland security applications. Rising geopolitical and bilateral tensions exist among the major countries. Also, the rise in terrorist operations has resulted in a rise in the purchase of armor materials to produce defense gear.

The key players profiled in the report include DuPont De Nemours, Inc. (US), Teijin Limited (Japan), 3M Company (US), ATI, Inc. (US), and Honeywell International Inc. (US).

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Aramid Fibers Market Poised to Grow Substantially Driven by Rising Demand from Aerospace and Defense Industries

The global aramid fibers market is estimated to be valued at US$ 5123.58 Mn in 2024 and is expected to exhibit a CAGR of 17.% over the forecast period from 2024 to 2031.

Aramid fibers are high-performance synthetic fibers known for their superior mechanical, thermal, and chemical resistant properties. They find wide applications across aerospace, defense, security & protection, and friction & sealing among other industries. The rising demand for lightweight and high strength materials from the aerospace & defense sectors has been a key driver of growth for aramid fibers. Key Takeaways Key players operating in the aramid fibers market are Essilor International, Johnson & Johnson Vision, CooperVision, Hoya Corporation, Zeiss Group, Bausch + Lomb, Menicon Co., Ltd., SEED Co., Ltd., Alcon (Novartis), Visioneering Technologies Inc., Paragon Vision Sciences, Euclid Systems Corporation, Art Optical Contact Lens Inc., SynergEyes Inc., Nevakar Inc. The key opportunities in the aramid fibers market include increasing demand from emerging economies and rising focus on development of bio-based and eco-friendly aramid fibers. Technological advancements have led to production of nanometer diameter aramid fibers with superior tensile strength and flexibility. Market Drivers The main driver for the Aramid Fibers Market Share is the rising demand from the aerospace and defense industries. Aramid fibers find widespread application in aircraft components owing to their high strength to weight ratio. They help reduce weight and achieve substantial fuel savings. The growing defense budgets and increasing procurement of advanced fighter jets, helicopters, ships and armored vehicles are driving consumption. Additionally, stringent safety norms have boosted the use of aramid fiber-based products in bulletproof jackets, helmets and other protective gear.Current challenges in the Aramid Fibers Market The Aramid Fibers market is facing many challenges currently due to fluctuations in raw material prices and supply shortages as well as disruptions caused by the global pandemic. Major raw materials used in making aramid fibers such as p-phenylenediamine (PPD) and terephthalic acid (TPA) have seen significant price volatility in recent years making production planning difficult. Supply chain bottlenecks have also increased leading to delays and cost overruns for manufacturers. The pandemic has further exacerbated these issues causing labor shortages and disruptions across different regions impacting the overall market growth negatively.

Get more insights on Aramid Fibers Market

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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Secure Logistics Market is Estimated to Witness High Growth Owing to Increasing Concern for Safety and Security of Valuables

Secure logistics refers to the transportation and delivery of valuables securely with necessary precautionary measures. The secure logistics market involves providing transportation for cash, jewelry, precious metals and several other high-value items securely. The secure logistics offers safeguarded services for the delivery of valuables to various destinations. Features like real-time tracking, armed guards, alarm systems and surprise checks ensure protection during transit. The increasing concern regarding safety and security of valuable goods in transit and limited storage facilities is a major factor driving demand in the secure logistics market.

The global secure logistics market is estimated to be valued at US$ 103.62 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. Garda World is one of the leading security companies globally providing secure transportation facilities.

The growing e-commerce industry generating demand for safe delivery of high-value items is a key opportunity in the Secure Logistics Market Demand  Also, increasing cash handling requirements of organizations is promoting adoption of secure logistics services.

The market players are focusing on expanding their global footprint by entering emerging markets of Asia and South America. Partnerships with local players help international players to strengthen global supply chains.

Market Drivers The increasing incidents of theft, burglary, and attacks on cargo and vehicles transporting valuables have raised concerns regarding safety and security. This is a major driver promoting adoption of secure logistics services for protection during transit. Strict government regulations regarding safety and security of valuable goods are further necessitating adoption of secure logistics.

PEST Analysis

Political: Secure Logistics Market Size And Trends is influenced by political regulations related to transportation of valuables, cash, and other important documents across borders.Changes in import-export policies impact cross border movements.

Economic: Economic growth, rise in disposable income leads to increased transportation of goods and valuables driving demand for secure logistics. Recession impacts industries relying on secure logistics.

Social: Digitalization trend increased online shopping raising need for secure delivery of goods.Also, rising crime rates increase safety concerns boosting secure transportation. Technological: Advancements like GPS tracking, biometrics, video surveillance enhanced security and monitoring during transit. Telematics improved fleet management and security. Blockchain increased transparency.

Geographical regions with high market concentration The secure logistics market in terms of value is highly concentrated in North America and Europe. In North America, U.S holds majority market share owing to large number of cash handling and armored vehicles transportation companies. Major European countries like U.K, Germany, and France account for over 40% of European market. Large banking sector and high ownership of precious metals and jewelry in these regions increase security requirements.

Fastest growing regional market

The Asia Pacific region is expected to witness fastest growth in the secure logistics market during the forecast period. This is attributed to expansion of banking, retail, and manufacturing sectors in emerging economies of China, India and other ASEAN countries. Additionally, initiatives by governments to modernize transportation infrastructure will also support market growth in the region. Get More Insights On, Secure Logistics Market About Author: Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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South Korea Armored Vehicle Fire Suppression Systems Market Insights 2024-2032

The South Korean armored vehicle fire suppression systems market is set to experience significant growth from 2024 to 2032, driven by technological advancements, increasing defense investments, and a focus on enhancing military capabilities. South Korea is emerging as a key player in the global defense sector, and understanding the market insights can help stakeholders capitalize on opportunities.

Market Insights

Technological Innovations: South Korea is rapidly advancing in defense technology, including armored vehicle fire suppression systems. Innovations such as automated fire detection, high-efficiency suppression agents, and integrated systems are driving market growth. These advancements are crucial for improving the safety and operational effectiveness of armored vehicles.

Defense Spending and Modernization: South Korea's focus on modernizing its military and increasing defense spending supports the demand for advanced fire suppression systems. The government’s commitment to enhancing military capabilities through upgraded armored vehicles creates opportunities for manufacturers and suppliers.

Key Market Players: Major players in the South Korean market include Korea Aerospace Industries (KAI), Hanwha Aerospace, and LIG Nex1. These companies are at the forefront of developing and supplying fire suppression systems, contributing to market growth. Understanding their strategies, product offerings, and market positions can provide valuable insights for stakeholders.

Regulatory Environment: South Korea’s defense sector adheres to stringent regulations, which impacts the development and deployment of fire suppression systems. Compliance with these regulations ensures product reliability and safety, offering a competitive edge in the market.

Market Forecast

The South Korean armored vehicle fire suppression systems market is projected to grow at a compound annual growth rate (CAGR) of approximately 7-9% from 2024 to 2032. This growth is supported by advancements in technology, increased defense investments, and a focus on enhancing military capabilities.

Opportunities for Stakeholders:

Technological Leadership: Investing in advanced technologies and innovative solutions can attract high-value contracts and enhance market position.

Partnerships and Collaborations: Collaborating with South Korean defense contractors and military agencies can lead to valuable business opportunities and market expansion.

Export Potential: Leveraging South Korea’s growing defense sector to explore international markets can enhance revenue potential.

Challenges:

Competitive Landscape: The market is competitive, requiring continuous innovation and strategic differentiation to remain competitive.

Regulatory Compliance: Ensuring adherence to defense regulations and standards is essential for securing contracts and maintaining market credibility.

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Vetronics Market | Global Trends & Military Opportunities

Technology has significantly advanced, playing a crucial role in several industries. The paradigm for R&D in the defense sector has evolved investments in vetronics. This is a result of the growing trend across different defense forces to equip military vehicles with technologically sophisticated electronic systems.

According to our experts, the global vetronics market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028, with a CAGR of 5.62% during the forecast period 2022-2028.

Vetronics, also known as vehicle electronics, enables military units to implement and integrate systems such as communication, command and control, vehicle warfare, navigation, vehicle protection, and surveillance. Over the years, its relevance has increased as defense departments seek to make their armed forces lighter, faster, and more deployable.

Integration of Digitalization in Battlefield Operations

The digitization of domains such as communication and surveillance is critical in the integrated operations of the modern battlefield. Electronic warfare has already been adopted as a sub-domain by the majority of advanced nations. They actively engage in advanced capability research to equip their forces and gain a tactical advantage over their competitors.

For example, the US Army is testing the Electronic Warfare Tactical Vehicle (EWTV), containing an unspecified specification of radio jamming equipment. It can detect and disrupt a wide range of signals, from cellphones to enemy UAV control links.

Factors such as ease of deployment and a broad range of sensing and disruption are key features incorporated in modern armored vehicle-mounted jamming systems that increase their utility. The rapid adoption of such technology is expected to drive the studied market during the forecast period.

Additionally, the ongoing military modernization programs in respective armies worldwide have increased the number of land-based vehicles. Our study suggests tanks are the fastest growing land-based fleet type segment, with a CAGR of 5.82% during the forecast period. The development is due to the interconnection systems of the new tanks. The technological update enables tanks to integrate with wheeled armored vehicles outfitted with standard vetronics to collect and transform battlefield sensor data into high-value security and combat services.

Impact of Competitors’ Strategic Initiatives

The global vetronics market is highly fragmented, with key players controlling significant market shares. Major companies like Thales Group, Lockheed Martin Corporation, and L3Harris Technologies continue to invest in the R&D of military robotics and related subsystems. Such measures have enabled them to expand the spectrum of applications for their distinctive and exclusive product line of vetronics.

The market participants’ operations focus on designing, engineering, and manufacturing high-performance vetronics for the world’s armed forces’ terrestrial assets. Furthermore, because a contract for armored vehicles necessitates high technological expertise, the companies are merging to enhance their current portfolio.

Some of the examples are listed below-

Collins Aerospace Military Global Positioning System (GPS) division was successfully acquired by BAE Systems, bringing decades of experience, cutting-edge technology, and a sizable installed base of products.

With the purchase of Gemalto by Thales for €4.8 billion, the acquisition will cover every step of the important decision-making process in the digital age, from sensor-generated data to real-time decision support.

Curtiss-Wright Corporation announced on July 5, 2022, that it had successfully acquired the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The acquisition of Safran’s arresting systems division solidifies Curtiss-position Wright as the world’s leading recovery and arresting systems provider for fixed-wing aircraft. Curtiss-Naval Wright’s & Power division will include the company.

Key Challenges & Regional Opportunities

Although cuts in the defense budget and the rising cost of raw materials can challenge the vetronics market, it is continuously expanding due to breakthrough technology in military vehicles.

The current fiscal condition worldwide is the key barrier to the market’s expansion. Many emergent breakthroughs offer considerable long-term benefits but need significant investments in deploying new technologies and platforms.

Based on the global scenario, the North America vetronics market held the largest share in 2021 and is expected to maintain its stronghold throughout the forecasting period. The region is witnessing considerable growth, owing to its military and government efforts to modernize its army and fleet.

Additionally, the United States is the key contributor to the regional market, accounting for 96.93% of the share in 2021. The country’s large market share is due to the rapid development of venture capital markets. For instance, American Rheinmetall Systems has received a multi-million-dollar investment to offer cutting-edge combat vehicle mission systems technologies to support the modernization of US Army combat vehicles.

FAQ

Ques 1: Which segments are studied in the Vetronics Market?

Land-based fleet type, component and vertical are the segments studied in vetronics market.

Ques 2: What are the key component of vetronics market?

Electronic Warfare & C4 Systems, Navigation Systems, Power Systems, and Vehicle Protection Systems are the key component of vetronics market.