Dublin, Jan. 21, 2026 (GLOBE NEWSWIRE) — The “Armored Vehicle Upgrade and Retrofit Market Report 2026” has been added to ResearchAndMarkets.com’s offering.
The armored vehicle upgrade and retrofit market has witnessed remarkable growth, as projections indicate an increase from $6.46 billion in 2025 to $6.75 billion in 2026, at a CAGR of 4.5%. This growth is driven by a mix of factors, including the need to extend the lifespan of military fleets, the deployment in conflict zones necessitating mid-life upgrades, and advancements in armor materials enhancing retrofit demand. The adoption of digital battlefield systems and reallocations of defense budgets post-Cold War are further bolstering refurbishment programs.
Looking ahead, the market is set to continue its upward trajectory, reaching $7.98 billion by 2030 at a CAGR of 4.3%. This forecast is bolstered by enhancements in survivability against emergent threats, increased integration of advanced situational awareness, and sensor suites. The demand for modular upgrade kits for fleet modernizations and the procurement of unmanned systems requiring retrofit compatibility highlight cost-effective modernization over acquiring new vehicles.
The expanding budget allocations for military and law enforcement sectors are anticipated to propel this growth further. For example, the UK’s defense budget for military support saw an increase to £2.5 billion in 2024, reflecting an upward trend in defense spending. This financial commitment ensures the continued enhancement and modernization of armored vehicles, meeting evolving security needs.
Leading companies in the market, such as Rosoboronexport and INKAS Armored Vehicle Manufacturing, are pioneering innovative solutions to meet the rising demand for improved battlefield mobility. For instance, Rosoboronexport’s $248 million deal with India includes high-power engine retrofits for T-72 tanks, boosting combat readiness. Similarly, INKAS’s partnership with Force Development Services incorporates high-grip surfaces into their vehicles, improving tactical team operations.
Prominent players driving this market include Hyundai Motor Group, BAE Systems, Lockheed Martin, and Rheinmetall AG, among others. The regional landscape is dynamic, with North America as the largest market in 2025, and Asia-Pacific poised as the fastest-growing region moving forward.
The global trade climate, influenced by tariffs, affects the market by elevating costs of imported materials and components. Nonetheless, tariffs also spur domestic production and local sourcing, potentially fortifying regional defense capabilities.
An extensive research report provides insights into the development of the armored vehicle upgrade and retrofit industry, covering market size, regional shares, and competitive landscapes. This crucial data assists stakeholders in navigating the evolving international trade environment successfully.
Key Sections Include:
- Market Characteristics: Examines product offerings, brand differentiation, and innovation trends.
- Supply Chain Analysis: Provides an overview of key resources and supplier analysis across the value chain.
- Updated Trends and Strategies: Discusses emerging tech trends and offers strategic guidance for leveraging these advancements.
- Regulatory and Investment Landscape: Reviews key policies, investment trends, and industry growth drivers.
- Market Size and Forecasts: Explores historical data and future market projections, considering current global influences.
- Total Addressable Market (TAM) Analysis: Evaluates market potential and strategic growth opportunities.
- Market Segmentations and Competitive Landscape: Breaks down the market into sub-segments and evaluates the competitive environment.
Scope and Coverage:
- Design: Wheeled Armored Vehicles, Tracked Armored Vehicles.
- Vehicle Type: Tactical Truck, Main Battle Tanks, and more.
- Armor Level: Rifle, Mine Resistant.
- Point Of Sale: OEM, Retrofit.
Additional Features:
- Bi-Annual Data Updates.
- Customizable Report Options.
- Expert Consultant Support Limited to 8 Hours.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $6.75 Billion |
| Forecasted Market Value (USD) by 2030 | $7.98 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Companies Featured
- Hyundai Motor Group
- SAIC Motor Corporation Limited.
- Hanwha Group
- Tata Motors Limited
- General Dynamics Corporation
- Northrop Grumman Corporation
- Mitsubishi Heavy Industries Ltd.
- Rostec State Corporation
- BAE Systems PLC
- Lockheed Martin Corporation
- Thales Group
- L3Harris Technologies Inc.
- Leonardo S.p.A.
- Iveco S.p.A
- Textron Inc.
- Navistar Inc.
- ST Engineering
- Oshkosh Corporation
- Rheinmetall AG
- Elbit Systems Ltd.
- Nexter Systems
- Krauss-Maffei Wegmann GmbH and Co. KG
- Ukroboronprom
- RUAG Holding
- AM General LLC
- Patria Plc.
- CMI Group Inc.
- FNSS Savunma Sistemleri AS.
- Denel Land Systems
- MKU Limited
For more information about this report visit https://www.researchandmarkets.com/r/p76m8p
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- Armored Vehicle Upgrade and Retrofit Market
