Global Armored Vehicle Market Size & Growth Report, 2027
Armored Vehicles Market The Armored Vehicles Market is anticipated to expand at a robust CAGR over the forecast period (2020-2027). The factors driving the growth of growth of Armored Vehicles Market includes increasing cross-border terrorism around the world, advancements in asymmetric warfare and emerging need to upgrade armored vehicles in the military sector. According to Global Terrorism Index, the terrorist attacks across the globe increased to 5,226 in 2021 and the maximum terrorist attacks were reported in Myanmar, with the death tolls in Myanmar reaching to 521 during the same year. Moreover, the increasing Government expenditure on defense budget, intergovernmental agreements for developing advanced armored vehicles, are some of the additional factors supplementing the Armored Vehicle Market share . As per Macro Trends, the Philippines military budget has significantly increased from USD 2.84 billion to USD 3.47 billion in 2019, showing a 22.13% increase, and the milit...