Infantry Fighting Vehicle Market Research Report – Global Forecast till 2027

Infantry Fighting Vehicle (IFV) Market: Information by Type (Wheeled and Tracked), by Configuration (Amphibious and Non-Amphibious), by Application (Combat, Armored Reconnaissance, and Ambulance & Others), and by Region — Global Forecast till 2027

ID: MRFR/A&D/5923-HCR | February 2021 | Region: Global | 125 pages

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario


Infantry fighting vehicle (IFV) also termed as mechanized infantry combat vehicle (MICV) or armored fighting vehicle is a combat vehicle designed to carry troops into the battlefield and provide direct fire support. IFVs weighs less than the tanks and hence are more mobile. Unlike the armored personnel carriers (APC), IFVs are typically equipped with canons and large guns, and often serve both as the mode of transport for a mechanized infantry unit as well as the weapon support for main battle tanks.


Factors such as focus on enhancing situational awareness in the battlefield and rising incidences of asymmetric warfare are positively impacting the infantry fighting vehicle market growth. In addition, the rise in defense expenditure, especially in emerging economies and subsequent investments in procuring armored vehicles to strengthen combat capabilities further boosts the market growth. However, factors such as delays in procurement processes hinders the market growth to a certain extent while enhancing protection, mobility and firepower without significant increase in weight and cost of the IFVs is a key challenge faced by the market players. Meanwhile, rising terrorist attacks and focus on counter operations, and aging combat vehicle upgradation programs being initiated by many countries throughout the world, create promising growth opportunities for the infantry fighting vehicle market. Companies are also keen on developing an integrated solution covering multiple systems for maximum tactical and strategic mobility.


The global infantry fighting vehicle market is estimated to register a CAGR of nearly 6% during the forecast period of 2018 to 2023.


Segmentation of the Global Infantry Fighting Vehicle Market


Infantry Fighting Vehicle Market


Based on type, the tracked infantry fighting vehicle segment accounted for the largest market share as it offers better mobility in rough terrains which is common in most battlefields. Based on configuration, the amphibious infantry fighting vehicle segment is projected to witness the highest CAGR as these are ideal for ship to shore maneuvers. Based on application the combat segment accounted for the largest market share as various countries are deploying these vehicles mainly for combat activities.


North America is estimated to account for the largest share during the review period. North America region in this report includes the US and Canada. Focus by the U.S. Department of Defense (DOD) on procuring armored vehicles, in the recent years, have resulted in the market witnessing a significant surge in demand, in this region. Moreover, the current military operations and exercises in the Middle East countries will also result in the US focusing on developing such vehicles, which will further deepen the scope of the market in the region


Intended Audience



  • Armored Vehicle Manufactures

  • Component Providers

  • Defense Organizations

  • Defense Electronics Suppliers

  • Research Institutes

  • Regulatory Bodies


Key Players


The key players in the global infantry fighting vehicle market are BAE Systems plc (UK), FNSS Savunma Sistemleri A.Ş. (Turkey), General Dynamics Corporation (US), Hanwha Defense Systems (South Korea), Iveco - Oto Melara Consortium (Italy), Krauss-Maffei Wegmann GmbH & Co. KG (Germany), Kurganmashzavod JSC (Russia), Paramount Group (South Africa), Rheinmetall AG (Germany), Saab AB (Sweden).


Research Methodology


The market numbers and forecast derived were the outcome of our disciplined research methodology which includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.


Secondary Research


In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, Aerospace & Defense magazines, white papers, corporate presentations, company websites, some paid databases and many others.


Primary Research


In this process, both demand side and supply side parties were involved to extract genuine facts and insights about market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.


Report Key Insights



  • Market Sizing, Forecast and Analysis: Detailed coverage on market segment and its sub segments

  • Regional / Country Trend and Forecast: Detailed analysis on North America, Asia Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions

  • Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis

  • Technology Trend, Regulatory Landscape, and Patent Analysis Outlook

  • Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A

  • Regional attractiveness and related growth opportunities


Report Customization


MRFR offers report customization to our valued customers. Below are the options available for customization:



  • Company Profiles


In-depth profiling of additional market players (3 to 4 companies)



  • Country Level Analysis


Detailed analysis of a country and its related segment as per the report scope (subject to data availability)



Frequently Asked Questions (FAQ) :


Global infantry fighting vehicle market is projected to expand at a CAGR of 6% during the forecast period from 2020 to 2027.

Global infantry fighting vehicle market is likely to procure a considerable market value during the review period from 2018 to 2023.

Global infantry fighting vehicle market is segmented on the basis of type, configuration, application, and region.

North America is likely to acquire the largest market share during the forecast period from 2020 to 2027.

BAE Systems plc (UK), General Dynamics Corporation (US), Paramount Group (South Africa), and Hanwha Defense Systems (South Korea) are some of the renowned players of the global infantry fighting vehicle market.

Table of Contents

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Takeaways

2.5. Key Buying Criteria

3. Research Methodology

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

3.7. Limitations

4. Market Landscape

4.1. Porter’s Five Forces Analysis

4.1.1. Threat of New Entrants

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of Substitutes

4.1.4. Segment Rivalry

4.1.5. Bargaining Power of Supplies

4.2. Value Chain/Supply Chain Analysis

5. Market Dynamics

5.1. Introduction

5.2. Market Drivers

5.3. Market Restraints

5.4. Market Opportunities

6. Industry Dynamics

6.1. Technology Trend

6.2. Regulatory Landscape

6.3. Patent Analysis Outlook

7. Global Infantry Fighting Vehicle (IFV) Market, by Configuration

7.1. Introduction

7.2. Amphibious

7.2.1. Market Estimates & Forecast, 2020–2027

7.2.2. Market Estimates & Forecast, by Region, 2020–2027

7.3. Non-Amphibious

7.3.1. Market Estimates & Forecast, 2020–2027

7.3.2. Market Estimates & Forecast, by Region, 2020–2027

8. Global Infantry Fighting Vehicle (IFV) Market, by Application

8.1. Introduction

8.2. Combat

8.2.1. Market Estimates & Forecast, 2020–2027

8.2.2. Market Estimates & Forecast, by Region, 2020–2027

8.3. Armored Reconnaissance

8.3.1. Market Estimates & Forecast, 2020–2027

8.3.2. Market Estimates & Forecast, by Region, 2020–2027

8.4. Ambulance & Others

8.4.1. Market Estimates & Forecast, 2020–2027

8.4.2. Market Estimates & Forecast, by Region, 2020–2027

9. Global Infantry Fighting Vehicle (IFV) Market, by Type

9.1. Introduction

9.2. Wheeled

9.2.1. Market Estimates & Forecast, 2020–2027

9.2.2. Market Estimates & Forecast, by Region, 2020–2027

9.3. Tracked

9.3.1. Market Estimates & Forecast, 2020–2027

9.3.2. Market Estimates & Forecast, by Region, 2020–2027

10. Global Infantry Fighting Vehicle (IFV) Market, by Region

10.1. Introduction

10.2. North America

10.2.1. Market Estimates & Forecast, by Country, 2020–2027

10.2.2. Market Estimates & Forecast, by Configuration, 2020–2027

10.2.3. Market Estimates & Forecast, by Application, 2020–2027

10.2.4. Market Estimates & Forecast, by Type, 2020–2027

10.2.5. US

10.2.5.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.2.5.2. Market Estimates & Forecast, by Application, 2020–2027

10.2.5.3. Market Estimates & Forecast, by Type, 2020–2027

10.2.6. Canada

10.2.6.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.2.6.2. Market Estimates & Forecast, by Application, 2020–2027

10.2.6.3. Market Estimates & Forecast, by Type, 2020–2027

10.3. Europe

10.3.1. Market Estimates & Forecast, by Country, 2020–2027

10.3.2. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.3. Market Estimates & Forecast, by Application, 2020–2027

10.3.4. Market Estimates & Forecast, by Type, 2020–2027

10.3.5. UK

10.3.5.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.5.2. Market Estimates & Forecast, by Application, 2020–2027

10.3.5.3. Market Estimates & Forecast, by Type, 2020–2027

10.3.6. Germany

10.3.6.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.6.2. Market Estimates & Forecast, by Application, 2020–2027

10.3.6.3. Market Estimates & Forecast, by Type, 2020–2027

10.3.7. France

10.3.7.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.7.2. Market Estimates & Forecast, by Application, 2020–2027

10.3.7.3. Market Estimates & Forecast, by Type, 2020–2027

10.3.8. Russia

10.3.8.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.8.2. Market Estimates & Forecast, by Application, 2020–2027

10.3.8.3. Market Estimates & Forecast, by Type, 2020–2027

10.3.9. Rest of Europe

10.3.9.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.3.9.2. Market Estimates & Forecast, by Application, 2020–2027

10.3.9.3. Market Estimates & Forecast, by Type, 2020–2027

10.4. Asia-Pacific

10.4.1. Market Estimates & Forecast, by Country, 2020–2027

10.4.2. Market Estimates & Forecast, by Configuration, 2020–2027

10.4.3. Market Estimates & Forecast, by Application, 2020–2027

10.4.4. Market Estimates & Forecast, by Type, 2020–2027

10.4.5. China

10.4.5.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.4.5.2. Market Estimates & Forecast, by Application, 2020–2027

10.4.5.3. Market Estimates & Forecast, by Type, 2020–2027

10.4.6. Australia

10.4.6.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.4.6.2. Market Estimates & Forecast, by Application, 2020–2027

10.4.6.3. Market Estimates & Forecast, by Type, 2020–2027

10.4.7. India

10.4.7.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.4.7.2. Market Estimates & Forecast, by Application, 2020–2027

10.4.7.3. Market Estimates & Forecast, by Type, 2020–2027

10.4.8. Rest of Asia-Pacific

10.4.8.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.4.8.2. Market Estimates & Forecast, by Application, 2020–2027

10.4.8.3. Market Estimates & Forecast, by Type, 2020–2027

10.5. Rest of the World

10.5.1. Market Estimates & Forecast, by Region, 2020–2027

10.5.2. Market Estimates & Forecast, by Configuration, 2020–2027

10.5.3. Market Estimates & Forecast, by Application, 2020–2027

10.5.4. Market Estimates & Forecast, by Type, 2020–2027

10.5.5. Middle East & Africa

10.5.5.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.5.5.2. Market Estimates & Forecast, by Application, 2020–2027

10.5.5.3. Market Estimates & Forecast, by Type, 2020–2027

10.5.6. Latin America

10.5.6.1. Market Estimates & Forecast, by Configuration, 2020–2027

10.5.6.2. Market Estimates & Forecast, by Application, 2020–2027

10.5.6.3. Market Estimates & Forecast, by Type, 2020–2027

11. Competitive Landscape

11.1. Competitive Scenario

11.2. Competitive Overview

11.3. Competitive Benchmarking

11.4. Market Share Analysis

12. Company Profiles

12.1. BAE Systems plc

12.1.1. Company Overview

12.1.2. Product Offering

12.1.3. Financial Overview

12.1.4. Key Developments

12.1.5. Swot Analysis

12.1.6. Strategy

12.2. FNSS Savunma Sistemleri A.Ş.

12.2.1. Company Overview

12.2.2. Product Offering

12.2.3. Financial Overview

12.2.4. Key Developments

12.2.5. Swot Analysis

12.2.6. Strategy

12.3. General Dynamics Corporation

12.3.1. Company Overview

12.3.2. Product Offering

12.3.3. Financial Overview

12.3.4. Key Developments

12.3.5. Swot Analysis

12.3.6. Strategy

12.4. Hanwha Defense Systems

12.4.1. Company Overview

12.4.2. Product Offering

12.4.3. Financial Overview

12.4.4. Key Developments

12.4.5. Swot Analysis

12.4.6. Strategy

12.5. Iveco - Oto Melara Consortium

12.5.1. Company Overview

12.5.2. Product Offering

12.5.3. Financial Overview

12.5.4. Key Developments

12.5.5. Swot Analysis

12.5.6. Strategy

12.6. Krauss-Maffei Wegmann GmbH & Co. KG

12.6.1. Company Overview

12.6.2. Product Offering

12.6.3. Financial Overview

12.6.4. Key Developments

12.6.5. Swot Analysis

12.6.6. Strategy

12.7. Kurganmashzavod JSC

12.7.1. Company Overview

12.7.2. Product Offering

12.7.3. Financial Overview

12.7.4. Key Developments

12.7.5. Swot Analysis

12.7.6. Strategy

12.8. Paramount Group

12.8.1. Company Overview

12.8.2. Product Offering

12.8.3. Financial Overview

12.8.4. Key Developments

12.8.5. Swot Analysis

12.8.6. Strategy

12.9. Rheinmetall AG

12.9.1. Company Overview

12.9.2. Product Offering

12.9.3. Financial Overview

12.9.4. Key Developments

12.9.5. Swot Analysis

12.9.6. Strategy

12.10. Saab AB

12.10.1. Company Overview

12.10.2. Product Offering

12.10.3. Financial Overview

12.10.4. Key Developments

12.10.5. Swot Analysis

12.10.6. Strategy

13. Appendix

13.1. Abbreviations

13.2. References

13.3. Related Reports


List of Tables

Table 1 Global Infantry Fighting Vehicle (IFV) Market, by Region, 2020–2027

Table 2 North America: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 3 Europe: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 4 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 5 Rest of the World: Infantry Fighting Vehicle (IFV) Market, by Region, 2020–2027

Table 6 Global Infantry Fighting Vehicle (IFV), Configuration Market, by Region, 2020–2027

Table 7 North America: Infantry Fighting Vehicle (IFV), Configuration Market, by Country, 2020–2027

Table 8 Europe: Infantry Fighting Vehicle (IFV), Configuration Market, by Country, 2020–2027

Table 9 Asia-Pacific: Infantry Fighting Vehicle (IFV), Configuration Market, by Country, 2020–2027

Table 10 Rest of the World: Infantry Fighting Vehicle (IFV), Configuration Market, by Region, 2020–2027

Table 11 Global Infantry Fighting Vehicle (IFV) Application Market, by Region, 2020–2027

Table 12 North America: Infantry Fighting Vehicle (IFV) Application Market, by Country, 2020–2027

Table 13 Europe: Infantry Fighting Vehicle (IFV) Application Market, by Country, 2020–2027

Table 14 Asia-Pacific: Infantry Fighting Vehicle (IFV) Application Market, by Country, 2020–2027

Table 15 Rest of the World: Infantry Fighting Vehicle (IFV) Application Market, by Region, 2020–2027

Table 16 Global Infantry Fighting Vehicle (IFV) Type Market, by Region, 2020–2027

Table 17 North America: Infantry Fighting Vehicle (IFV) Type Market, by Country, 2020–2027

Table 18 Europe: Infantry Fighting Vehicle (IFV) Type Market, by Country, 2020–2027

Table 19 Asia-Pacific: Infantry Fighting Vehicle (IFV) Type Market, by Country, 2020–2027

Table 20 Rest of the World: Infantry Fighting Vehicle (IFV) Type Market, by Region, 2020–2027

Table 21 Global Infantry Fighting Vehicle (IFV) Market, by Region, 2020–2027

Table 22 Global Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027

Table 23 Global Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027

Table 24 Global Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027

Table 25 North America: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 26 North America: Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027

Table 27 North America: Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027

Table 28 North America: Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027

Table 29 Europe: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 30 Europe: Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027

Table 31 Europe: Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027

Table 32 Europe: Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027

Table 33 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market, by Country, 2020–2027

Table 34 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027

Table 35 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027

Table 36 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027

Table 37 Rest of the World: Infantry Fighting Vehicle (IFV) Market, by Region, 2020–2027

Table 38 Rest of the World: Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027

Table 39 Rest of the World: Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027

Table 40 Rest of the World: Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027


List Of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top-Down & Bottom-Up Approaches

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter's Five Forces Analysis

FIGURE 7 Value Chain Analysis

FIGURE 8 Global Infantry Fighting Vehicle (IFV) Market Share, by Configuration, 2020 (%)

FIGURE 9 Global Infantry Fighting Vehicle (IFV) Market, by Configuration, 2020–2027 (USD Million)

FIGURE 10 Global Infantry Fighting Vehicle (IFV) Market Share, by Application, 2020 (%)

FIGURE 11 Global Infantry Fighting Vehicle (IFV) Market, by Application, 2020–2027 (USD Million)

FIGURE 12 Global Infantry Fighting Vehicle (IFV) Market Share, by Type, 2020 (%)

FIGURE 13 Global Infantry Fighting Vehicle (IFV) Market, by Type, 2020–2027 (USD Million)

FIGURE 14 Global Infantry Fighting Vehicle (IFV) Market Share (%), By Region, 2020

FIGURE 15 Global Infantry Fighting Vehicle (IFV) Market, by Region, 2020–2027 (USD Million)

FIGURE 16 North America: Infantry Fighting Vehicle (IFV) Market Share (%), 2020

FIGURE 17 North America: Infantry Fighting Vehicle (IFV) Market by Country, 2020–2027 (USD Million)

FIGURE 18 Europe: Infantry Fighting Vehicle (IFV) Market Share (%), 2020

FIGURE 19 Europe: Infantry Fighting Vehicle (IFV) Market by Country, 2020–2027 (USD Million)

FIGURE 20 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market Share (%), 2020

FIGURE 21 Asia-Pacific: Infantry Fighting Vehicle (IFV) Market by Country, 2020–2027 (USD Million)

FIGURE 22 Rest of the World Infantry Fighting Vehicle (IFV) Market Share (%), 2020

FIGURE 23 Rest of the World Infantry Fighting Vehicle (IFV) Market by Region, 2020–2027 (USD Million)