Asia predicted to be largest AFV market in 2019-29 period
In its ‘Complete Market Report and Forecast on Armoured Vehicles 2019-29’ that was published earlier this month, Shephard Plus predicts that countries in the Asia-Pacific region will top the sales chart in terms of armoured vehicle procurements over the next decade.
Shephard Plus calculated that the global AFV market will be worth $33.3 billion in 2029, up from the current market of $24.3 billion. This gives a CAGR of 3.2%, with ‘growth driven primarily by China, India, Australia and Pakistan in Asia-Pacific, Saudi Arabia, Israel and the UAE in the Middle East, the US, and a resurgent Russia in Europe’.
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