Global Military Fighting Vehicles Market 2017-2021

Overview of the global military fighting vehicles market

Market research analysts at Technavio predict that the global military fighting vehicles (MFV) market will grow steadily at a CAGR of more than 3% by 2021. The increasing number of territorial conflicts in APAC is identified as one of the primary growth factors for this market. APAC remains disturbed with civil and political unrest between the neighboring countries. Insurgency operations and cross-border firings between India and Pakistan have resulted in several casualties on both sides. To ensure adequate protection and minimal loss of lives, countries are increasing the number of armored infantry carriers for patrol purposes along the border. Increasing tensions at these prime spots have also given rise to increased border patrol and security activities. These rising tensions between bordering APAC countries increases the need for more firepower and combat vehicles in the region.