The global armored vehicles market is projected to reach $28.62 billion by 2019 with the primary drivers being in the Middle East, North Africa and Asia.

According to a report released in May on armored vehicles by MarketsandMarkets, a US-based global market research firm, the advent of sequestration in the United States, the ending of the Afghan war and European budget cuts have led to a drop in armored vehicle demand in those markets, but the Middle East is expected to boost vehicle procurement significantly over the next 10 years and offset anticipated reductions in the US and Europe.

The report bases the market figures on a projected compound annual growth rate of 4.93 percent. […]