call Toll Free (US/Canada): +1 866 658 6826 | call+1 425 320 4776 | call (UK): +44 1865 60 0662 | call (Ind): +91 9096278110 | email info(@)blueweaveconsulting.com
Home | About Us | Career | Services | Blog | Contact Us
Blueweave
Middle East And Africa Armored Vehicles Market
Inquire Before Buying Request for Sample

Middle East And Africa Armored Vehicles Market

Home Aerospace And Defense Middle East And Africa Armored Vehicles Market

Middle East and Africa Armored Vehicles Market, By Type (Main Battle Tank (MBT), Armored Personnel Carrier (APC), Infantry Fighting Vehicle (IFV)); By Country (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of MEA), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24481
  • Available Format: PDF
  • Page: 200

Report Overview

Middle East and Africa Armored Vehicles Market thrives due to economic growth, infrastructure advancements, urbanization, and strict regulatory mandates, fostering rapid market growth during the forecast period between 2024 and 2030.

Middle East and Africa Armored Vehicles Market – Industry Trends & Forecast Report, 2030

Middle East and Africa Armored Vehicles Market size by value was estimated at USD 1.99 billion in 2023. During the forecast period between 2024 and 2030, the Middle East and Africa Armored Vehicles Market size is expected to expand at a CAGR of 5.63% reaching a value of USD 2.56 billion by 2030. The Middle East and Africa Armored Vehicles Market is driven by the need to enhance warfare capabilities, combat threats like terrorism, cross-border conflicts, and insurgencies, and expanding defense budgets. Manufacturers are innovating to create lightweight and hybrid models, while rising warfare costs drive demand for advanced, cost-effective military solutions. Market insights, including defense strategies and procurement data, benefit stakeholders, driving further market growth.

Middle East and Africa Armored Vehicles Market

By volume, the Middle East and Africa Armored Vehicles Market size was estimated at 19,372 units in 2023. During the forecast period between 2024 and 2030, Middle East and Africa Armored Vehicles Market size is projected to grow at a CAGR of 5.13% reaching a volume of 21,639 units by 2030. The Middle East and Africa Armored Vehicles Market is semi-consolidated, with few major players holding significant shares. Major players include Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive, Streit Group, BMC Otomotiv Sanayi ve Ticaret AŞ., and Rheinmetall AG. International manufacturers are expanding their presence with new product innovations, such as Oshkosh Defence's J-LTV. Domestic players are increasing their product portfolio, such as Mahindra Emirates Vehicle Armouring's MAXIMUS 4X4 Armoured Personal Carrier for Paramilitary/Police/Troops. These factors are expected to help companies increase their presence and achieve profits in the region.

Armored Vehicles – Overview

Armored fighting vehicles (AFVs) are armed combat vehicles with armored capabilities, combining operational mobility with offensive and defensive capabilities. Examples include tanks, armored cars, assault guns, self-propelled artilleries, infantry fighting vehicles, and armored personnel carriers. Classifications vary between countries and change over time, with lighter-armed AFVs often replaced by heavier infantry fighting vehicles in similar roles.

Middle East and Africa Armored Vehicles Market

Growth Drivers

Incorporating emerging Military Technologies in Military Land Vehicles

Emerging military technology is driving the growth of military land vehicles in the Middle East and Africa. Unmanned ground vehicles are increasingly used for tasks like logistics support and investigation without risking human lives. Electric and hybrid vehicles are being adopted for fuel efficiency, silent operations, and improved shielding capabilities. Networked and self-governing technologies are also changing armored vehicles, increasing their demand.

Challenges

Limited Defence Budgets

Limited defense budgets in the Middle East and Africa may hinder the acquisition and modernization of military land vehicles, leading to delays in procurement, reduced vehicle numbers, and an inability to invest in advanced technologies. Dependence on foreign suppliers creates challenges in cost, import/export restrictions, technology transfer, and maintenance support. Insufficient infrastructure, difficult terrains, and a lack of a mature local defense industry also limit vehicle customization for specific operational needs.

Impact of Escalating Geopolitical Tensions on Middle East and Africa Armored Vehicles Market

The Middle East's geopolitical tensions and military conflicts have led to a surge in defense spending, particularly in countries like Saudi Arabia, UAE, and Israel. This has led to a rise in the procurement of advanced weapons and armored vehicles, as well as the development of next-generation fighting vehicles. This trend is driving market growth as nations modernize their military assets to address regional instability and national security.

Middle East and Africa Armored Vehicles Market

Segmental Coverage

Middle East and Africa Armored Vehicles Market – By Type

Based on type, Middle East and Africa Armored Vehicles Market is divided into Main Battle Tank (MBT), Armored Personnel Carrier (APC), and Infantry Fighting Vehicle (IFV) segments. The armored personnel carrier (APC) segment is expected to experience significant growth in the Middle East and Africa armored vehicles market. The growth is due to increased spending on advanced APC procurement and military modernization programs. These vehicles are used for combat situations, command posts, and troop evacuation. Countries like Israel are upgrading their fleets with new APCs, such as the Eitan and EDT Enigma AMFV. Investments in new APCs with improved protection and lethality are expected to accelerate the segment's growth.

Middle East and Africa Armored Vehicles Market Growth

Middle East and Africa Armored Vehicles Market – By Country

Based on country, Middle East and Africa Armored Vehicles Market is divided into Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and Rest of MEA. Saudi Arabia dominates the Middle East and Africa Armored Vehicles Market, driven by increasing defense capabilities and procurement contracts with OEMs. The country's rapid increase in military equipment procurement is driven by security concerns and rising terrorism. The Saudi Arabian Government plans to invest in its military sector in the next decade, aiming to increase the fleet of armored vehicles and drive market growth.

Middle East and Africa Armored Vehicles Market Size

Competitive Landscape

Major players in the Middle East and Africa Armored Vehicles Market include Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive (EDGE Group PJSC), Streit Group, Rheinmetall AG, IAI, BAE Systems plc, Denel SOC Ltd, Artan Armored Vehicles, Armormax, and Integrated Convoy Protection. To further enhance their Market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In June 2023 – The Israeli Ministry of Defense received its first new Namer 1500 armored personnel carrier (APC). The Namer 1500 APC was developed as part of Israel’s Merkava and Armored Vehicle Directorate tank flagship project that will replace the country’s aging M113 APC vehicles.

  • In June 2022 – Israel's defense ministry announced the country would purchase hundreds of combat vehicles from Israel Aerospace Industries (IAI) for the country’s special forces. The value of the procurement contract was worth more than ILS 100 million (approximately USD 28 million).

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

By Value - USD Billion 

By Volume – Units

Market Coverage

Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of MEA

Product/Service Segmentation

Type, Country

Key Players

Mahindra Emirates Vehicle Armouring FZ-LLC, NIMR Automotive (EDGE Group PJSC), Streit Group, Rheinmetall AG, IAI, BAE Systems plc, Denel SOC Ltd, Artan Armored Vehicles, Armormax, Integrated Convoy Protection

 

By Type

  • Main Battle Tank (MBT)  

  • Armored Personnel Carrier (APC)  

  • Infantry Fighting Vehicle (IFV)  

By Country

  • Saudi Arabia

  • UAE

  • Qatar

  • Kuwait

  • South Africa

  • Nigeria

  • Algeria

  • Rest of MEA

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3.  Middle East and Africa Armored Vehicles Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Geopolitical and military conflicts
        2. Rising security concerns
        3. Advancements in technology
        4. Local manufacturing support
      2. Restraints
        1. Maintenance and electrical failures
        2. Infrastructure limitations
      3. Opportunities
        1. Growing demand for commercial applications
        2. Multi-lateral collaboration
        3. Increasing defense spending
        4. Modernization of military forces
      4. Challenges
        1. Limited defense budgets
        2. Dependence on foreign suppliers
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Middle East and Africa Armored Vehicles Market: Marketing Strategies
  5. Middle East and Africa Armored Vehicles Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share and Forecast
      1. By Type
        1. Main Battle Tank (MBT)
        2. Armored Personnel Carrier (APC)
        3. Infantry Fighting Vehicle (IFV)
        4. Others
      2. By Country
        1. Saudi Arabia
        2. UAE
        3. Qatar
        4. Kuwait
        5. South Africa
        6. Nigeria
        7. Algeria
        8. Rest of MEA
  6. Saudi Arabia Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  7. UAE Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  8. Qatar Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  9. Kuwait Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  10. South Africa Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  11. Nigeria Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  12. Algeria Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
  13. Rest of MEA Armored Vehicles Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  14. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Middle East and Africa Armored Vehicles Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  15. Impact of Escalating Geopolitical Tensions on Middle East and Africa Armored Vehicles Market
  16. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Mahindra Emirates Vehicle Armouring FZ-LLC
    2. NIMR Automotive (EDGE Group PJSC)
    3. Streit Group
    4. Rheinmetall AG
    5. IAI
    6. BAE Systems plc
    7. Denel SOC Ltd
    8. Artan Armored Vehicles
    9. Armormax
    10. Integrated Convoy Protection
    11. Other Prominent Players
  17. Key Strategic Recommendations
  18. Research Methodology
    1.  Qualitative Research
      1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Country
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       Middle East & Africa Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 2       Middle East & Africa Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 3       Middle East & Africa Armored Vehicles Market Share, By Country, By Value, 2019–2030

Figure 4       Saudi Arabia Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 5       Saudi Arabia Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 6       UAE Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 7       UAE Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 8       Qatar Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 9       Qatar Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 10     Kuwait Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 11     Kuwait Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 12     South Africa Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 13     South Africa Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 14     Nigeria Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 15     Nigeria Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 16     Algeria Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 17     Algeria Armored Vehicles Market Share, By Type, By Value, 2019–2030

Figure 18     Rest of MEA Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Figure 19     Rest of MEA Armored Vehicles Market Share, By Type, By Value, 2019–2030

 

List of Tables

 

Table 1 Middle East & Africa Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 2 Middle East & Africa Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 3 Middle East & Africa Armored Vehicles Market Size, By Country, By Value, 2019–2030

Table 4 Saudi Arabia Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 5 Saudi Arabia Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 6 UAE Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 7 UAE Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 8 Qatar Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 9 Qatar Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 10      Kuwait Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 11      Kuwait Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 12      South Africa Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 13      South Africa Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 14      Nigeria Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 15      Nigeria Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 16      Algeria Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 17      Algeria Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 18      Rest of MEA Armored Vehicles Market Size, By Value (USD Billion), 2019–2030

Table 19      Rest of MEA Armored Vehicles Market Size, By Type, By Value, 2019–2030

Table 20      Mahindra Emirates Vehicle Armouring FZ-LLC Company Overview

Table 21      Mahindra Emirates Vehicle Armouring FZ-LLC Financial Overview

Table 22      NIMR Automotive (EDGE Group PJSC) Company Overview

Table 23      NIMR Automotive (EDGE Group PJSC) Financial Overview

Table 24      Streit Group Company Overview

Table 25      Streit Group Financial Overview

Table 26      Rheinmetall AG Company Overview

Table 27      Rheinmetall AG Financial Overview

Table 28      IAI Company Overview

Table 29      IAI Financial Overview

Table 30      BAE Systems plc Company Overview

Table 31      BAE Systems plc Financial Overview

Table 32      Denel SOC Ltd Company Overview

Table 33      Denel SOC Ltd Financial Overview

Table 34      Artan Armored Vehicles Company Overview

Table 35      Artan Armored Vehicles Financial Overview

Table 36      Armormax Company Overview

Table 37      Armormax Financial Overview

Table 38      Integrated Convoy Protection Company Overview

Table 39      Integrated Convoy Protection Financial Overview

Market Segmentation

No data available
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: Middle East and Africa Armored Vehicles Market size by value was estimated at USD 1.99 billion in 2023.
Ans: Middle East and Africa Armored Vehicles Market by value is expected to grow at a CAGR of 5.63% during the forecast period between 2024 and 2030.
Ans: Middle East and Africa Armored Vehicles Market size is forecast to reach a value of USD 2.56 billion by 2030.
Ans: The growth of the Middle East and Africa Armored Vehicles Market is primarily driven by Middle East and Africa Armored Vehicles Market thrives due to economic growth, infrastructure advancements, urbanization, and strict regulatory mandates.
Ans: The armored personnel carrier segment accounts for the highest Market share in the Middle East and Africa Armored Vehicles Market by type.
Ans: Saudi Arabia holds the highest market share in the Middle East and Africa Armored Vehicles Market.