Europe Armored Fighting Vehicles Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Europe Armored Fighting Vehicles Market is segmented by Type (Armored Personnel Carrier (APC), Infantry Fighting Vehicle (IFV), Main Battle Tank (MBT), and Other Types) and Geography.

Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
CAGR: >3 %

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Market Overview

The European armored fighting vehicles market is anticipated to register a CAGR of over 3% during the forecast period, owing to the demand from armed forces, law enforcement agencies (police), and potential private owners.

  • The increasing political tension, terrorism, and hostile activities across Europe are some of the major reasons generating the demand for armored fighting vehicles.
  • The increasing defense spending by European nations is likely to support the growth of the market. According to the International Institute of Strategic Studies (IISS), in 2019, European countries increased their defense spending by 4.2% over 2018.
  • Initiatives, such as the Permanent Structured Cooperation initiative or PESCO, allow member nations of the European Union to develop weapons together, in order to reduce the dependency on NATO. Such initiatives are fueling the growth of the market.

Scope of the Report

An armored vehicle is a land vehicle protected by armor, generally combining operational mobility with offensive and defensive capabilities. Armored vehicles can be wheeled or tracked, depending on the type. Armored personnel carrier (APC), infantry fighting vehicle (IFV), mine-resistant ambush protected (MRAP), main battle tank (MBT), armored cars, vehicles carrying armored self-propelled artillery, light armored vehicles, armored ambulance, armored recovery vehicles, assault amphibious vehicle, armored vehicle-launched bridge (AVLB), armored utility vehicles, and other support vehicles are included in the study. The study also offers details about on-going and future armored vehicle programs in major countries of Europe. Furthermore, the study includes unmanned armored vehicles.

Armored Personal Carrier (APC)
Infantry Fighting Vehicle (IFV)
Main Battle Tank (MBT)
Other Types
United Kingdom
Rest of Europe

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Key Market Trends

Main Battle Tank Segment is Projected to Lead the Market During the Forecast Period

Currently, the main battle tank (MBT) segment dominates the market, and it is expected to continue its domination during the forecast period. The segment is propelled by the increasing procurements of tanks by various countries, like Hungary, Russia, Poland, France, and Germany. For instance, in August 2018, the Russian Ministry of Defense signed a contract with Uralvagonzavod (UVZ) for the production of 132 third-generation T-14 Armata main battle tanks (MBT) and T-15 heavy infantry fighting vehicles (IFV). The Russian Ground Forces are expected to receive a total of 100 T-14 MBTs by 2020. France and Germany aims at developing European Main Battle Tank (EMBT) under the Main Ground Combat System (MGCS/KNDS (Krauss-Maffei Wegmann + Nexter Defense System) program to replace the German fleet of Leopard Tanks and the French fleet of Leclerc Tanks by 2035.


Russia is the Largest Market for Armored Fighting Vehicles in Europe

Russia has the largest fleet of armored fighting vehicles in Europe. It witnessed a significant increase in spending in an effort to modernize the existing fleet, which is propelling the growth of the market. The presence of manufacturers, such as Kurganmashzavod and KAMAZ, which are actively spending in the research and development of existing product lines is also driving the market. However, the armored fighting vehicle manufacturers in Russia are struggling with overcapacity problems due to overseas competition. The current Russian fleet of fighting vehicles is developed keeping in mind the lethality and mobility with vehicles having excellent off-road mobility, amphibious mobility, etc. However, investments are being made to increase the survivability of the platform as well, because the majority of Russian armored vehicles are effective against small ammunition and not the larger ones.


Competitive Landscape

The prominent players in the market are BAE Systems PLC, Rheinmetall AG, General Dynamics Corporation, Patria, Oshkosh Corporation Inc., and Nexter Group KNDS, among others. The armored fighting vehicles market in Europe is a fragmented one, with nearly 16 out of 18 manufacturers having serial production. The majority of armored fighting vehicles' fleet is present in nearly 3-4 countries; therefore, a need arises to equip the other European countries with advanced fighting vehicles. Many countries are using the older generation fleet. Collaborations for the development of new fighting vehicles are anticipated to propel the growth of the market in these countries. Italy has initiated the Forza NEC program, which focuses on the digitization of armored vehicles by architecture configuration.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Armored Personal Carrier (APC)

      2. 5.1.2 Infantry Fighting Vehicle (IFV)

      3. 5.1.3 Main Battle Tank (MBT)

      4. 5.1.4 Other Types

    2. 5.2 Geography

      1. 5.2.1 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Russia

        5. Spain

        6. Rest of Europe


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 BAE Systems

      2. 6.2.2 Oshkosh Corporation Inc.

      3. 6.2.3 Rheinmetall AG

      4. 6.2.4 General Dynamics Corporation

      5. 6.2.5 Patria

      6. 6.2.6 Nexter group KNDS

      7. 6.2.7 Military Industrial Company

      8. 6.2.8 Supacat Limited (SC Group)

      9. 6.2.9 ARQUUS Defense

      10. 6.2.10 IVECO SpA


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Frequently Asked Questions

The Europe Armored Fighting Vehicles Market market is studied from 2018 - 2026.

The Europe Armored Fighting Vehicles Market is growing at a CAGR of >3% over the next 5 years.

BAE Systems PLC, Rheinmetall AG, General Dynamics Corporation, IVECO S.p.A, Oshkosh Corporation, Inc., Nexter group KNDS are the major companies operating in Europe Armored Fighting Vehicles Market.

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