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Indonesia Armored Personnel Carrier Market
ID: MRFR/AD/56307-HCR
200 Pages
June 2025
Indonesia Armored Personnel Carrier Market Size, Share, Industry Trend & Analysis Research Report By Application (Military Operations, Civilian Protection, Peacekeeping Missions, Counter-Terrorism Operations), By Armour Type (Composite Armour, Steel Armour, Ceramic Armour, Soft Armour), By Vehicle Capacity (2-4 Personnel, 5-10 Personnel, 11-20 Personnel, 21+ Personnel) and By End Use (Defense Forces, Law Enforcement Agencies, Private Security)- Forecast to 2035
Industry Developments
In recent months, the Indonesia Armored Personnel Carrier Market has seen significant developments, particularly with companies like PT Pindad focusing on developing indigenous capabilities while enhancing collaboration with international firms such as Lockheed Martin and Elbit Systems. In August 2023, PT Pindad announced plans to expand its production facilities to increase output in response to rising defense demand.
The Indonesian government continues to invest in modernizing its military capabilities, leading to increased opportunities in the armored vehicle sector. Moreover, the country is undergoing a transformation of its defense procurement strategies, prioritizing local manufacturing to reduce reliance on imports. In June 2022, a notable memorandum of understanding was signed between Rheinmetall and the Indonesian Ministry of Defense, emphasizing their commitment to develop advanced armored vehicles.
The market is also witnessing growth, with an estimation indicating that by 2025, the valuation of the armored personnel carrier market in Indonesia is expected to expand significantly due to ongoing military modernization efforts. Such developments indicate a robust trajectory for market participants, including General Dynamics, Honeywell, and others, as Indonesia seeks to strengthen its defense capabilities while promoting local defense industries.
Report Scope
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 141.0(USD Million) |
| MARKET SIZE 2024 | 145.62(USD Million) |
| MARKET SIZE 2035 | 210.26(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 3.396% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Lockheed Martin, Honeywell, General Dynamics, Armored Vehicle Systems, Elbit Systems, KraussMaffei Wegmann, PT Pindad, Oshkosh Defense, Rheinmetall, ThyssenKrupp, Navistar Defense, Streit Group, Northrop Grumman, BAE Systems |
| SEGMENTS COVERED | Application, Armour Type, Vehicle Capacity, End Use |
| KEY MARKET OPPORTUNITIES | Military modernization initiatives, Rising defense budget allocations, Increased internal security needs, Expanding peacekeeping missions, Demand for advanced technology integration |
| KEY MARKET DYNAMICS | growing defense budget, increasing security threats, government modernization initiatives, demand for advanced technology, regional geopolitical tensions |
| COUNTRIES COVERED | Indonesia |
FAQs
What is the expected market size of the Indonesia Armored Personnel Carrier Market in 2024?
The Indonesia Armored Personnel Carrier Market is expected to be valued at 145.62 million USD in 2024.
What is the projected market size for the Indonesia Armored Personnel Carrier Market by 2035?
By 2035, the Indonesia Armored Personnel Carrier Market is anticipated to reach 210.26 million USD.
What is the expected CAGR for the Indonesia Armored Personnel Carrier Market from 2025 to 2035?
The market is expected to grow at a CAGR of 3.396% from 2025 to 2035.
Which application accounted for the largest market share in 2024 within the Indonesia Armored Personnel Carrier Market?
Military Operations accounted for 60.0 million USD in 2024, making it the largest application segment.
What is the market value for Civilian Protection in the Indonesia Armored Personnel Carrier Market by 2035?
By 2035, the market for Civilian Protection is expected to be valued at 55.0 million USD.
Who are the key players in the Indonesia Armored Personnel Carrier Market?
Major players include Lockheed Martin, Honeywell, General Dynamics, and PT Pindad, among others.
What will be the market size for Peacekeeping Missions in 2024?
The market size for Peacekeeping Missions is projected to be 30.0 million USD in 2024.
What is the expected market value for Counter-Terrorism Operations by 2035?
Counter-Terrorism Operations are expected to grow to 30.26 million USD by 2035.
How does the Indonesia Armored Personnel Carrier Market respond to current global challenges?
The market demonstrates resilience and adaptation in response to global conflicts and defense needs.
What growth opportunities exist in the Indonesia Armored Personnel Carrier Market?
Opportunities for growth exist in enhanced military capabilities and increasing demand for civilian protection solutions.
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