장갑차 업그레이드 및 레트로핏 시장 : 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the armored vehicle upgrade and retrofit market size is expected to grow from USD 7.90 billion in 2025 to USD 8.65 billion in 2026 and is forecasted to reach USD 13.63 billion by 2031 at a 9.51% CAGR over 2026-2031.

This report is Segmented by Vehicle Type (Armored Personnel Carriers, and More), Upgrade Type (Armor and Survivability Kits, Weapon and Remote Weapon Stations, Mobility, and More), End User (Army, Navy, Air Force, and Homeland Security and Paramilitary), and Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

Global Armored Vehicle Upgrade and Retrofit Market Trends and Insights

Modernization of Ageing Armored Fleets

The median age of NATO MBTs reached 28 years in 2025, and service-life extensions to 40-45 years now rely on overhauls of the powertrain, armor, and electronics rather than wholesale replacement. Poland's 250-unit Leopard 2PL program demonstrates how incremental upgrades support interoperability while preserving budgets for artillery and air defense priorities. The US shifted USD 1.2 billion from a clean-sheet Abrams variant to SEPv4 upgrades that add Israeli Trophy active protection and next-generation infrared sensors. Similar logic informs Japan's USD 340 million Type 90 tank refresh, which incorporates network radios and counter-drone electronic warfare (EW) modules. These cases demonstrate that retrofit strategies maintain industrial lines open and distribute risk over time.

Rising Defense Budgets and Geopolitical Tensions

Global defense outlays increased by 6.8% in 2025 to USD 2.24 trillion. Germany's Zeitenwende initiative injected EUR 3.1 billion (USD 3.61 billion) into overhauls of the Leopard and Puma, signaling a durable shift in budget priorities away from austerity. South Korea devoted USD 890 million to K2 and K21 enhancements that incorporate hard-kill protection and laser warning receivers. The Indo-Pacific share of retrofit spending rose from 38% in 2023 to 43.78% in 2025, fueled by India's USD 4.2 billion BMP-2 program and Australia's Land 400 Phase 3 initiative. Sustained budget momentum underwrites multi-year contracts and de-risks supplier investment.

High Program and Component Costs

Active-protection kits add USD 300,000-500,000 per vehicle, and a full C4ISR suite can push incremental costs past USD 1.2 million, eroding the financial logic of retrofits when more than 60% of subsystems need replacement. The Bradley M2A4E1 upgrade now sits at USD 4.3 million per unit, only 28% cheaper than a clean-sheet equivalent. Rare-earth magnet prices remain volatile, forcing some programs to accept torque densities 15-20% lower with ferrite substitutes. South American and African customers respond by buying partial upgrade packages, fragmenting volumes, and squeezing economies of scale.

Other drivers and restraints analyzed in the detailed report include:

1. Demand for Enhanced Survivability vs IEDs and Drones
2. Digitization and Network-Centric Warfare Upgrades
3. Integration Complexity with Legacy Platforms

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Infantry fighting vehicles (IFVs) retained 37.89% of the 2025 armored vehicle upgrade and retrofit market share, underscoring their central role in combined-arms maneuver. The armored vehicle upgrade and retrofit market size for support vehicles is poised for faster growth, with logistics carriers, command posts, and engineering variants projected to post an 11.56% CAGR through 2031. IFV programs consume disproportionate budgets because lethality and survivability must match peer MBTs. The US Bradley M2A4 integrates Iron Fist Light Decoupled active protection and third-generation infrared, demonstrating the cost intensity of IFV refresh cycles. Mine-resistant vehicles receive steady orders for counter-insurgency theaters, while APCs gain momentum through interoperability mandates such as Canada's Light Armoured Vehicle 6.0 line.

Lower-baseline capability lets support variants realize step-function benefits from modest upgrades, and armies now treat rear-echelon protection as an operational imperative. The M88A3 recovery vehicle retrofit, which incorporates Trophy and Link 16, exemplifies the trend of enhancing survivability for maintenance and logistics assets. Amphibious and medium-weight platforms also enter the pipeline as emerging markets seek versatile assets that double as disaster-relief vehicles. Together, these factors keep the armored vehicle upgrade and retrofit market on a trajectory where combat and support fleets modernize in parallel rather than sequentially.

Complete Report Scope:

• By Vehicle Type
  • Armored Personnel Carriers (APCs)
  • Infantry Fighting Vehicles (IFVs)
  • Mine-Resistant Ambush Protected (MRAP) Vehicles
  • Main Battle Tanks (MBTs)
  • Other Vehicle Types
• By Upgrade Type
  • Armor and Survivability Kits
  • Weapon and Remote Weapon Stations
  • Mobility (Engine, Transmission, Suspension)
  • Electronics/Sensors/C4ISR
  • Powertrain Electrification and Energy Systems
  • Other Upgrades (Tires, Software, etc.)
• By End User
  • Army
  • Navy
  • Air Force
  • Homeland Security and Paramilitary
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • United Kingdom
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Rest of South America
  • Middle East and Africa
    • Middle East
      • United Arab Emirates
      • Saudi Arabia
      • Rest of Middle East
    • Africa
      • South Africa
      • Rest of Africa

Geography Analysis

The Asia-Pacific region generated 43.78% of the 2025 revenue for the armored vehicle upgrade and retrofit market, a lead built on India's USD 4.20 billion BMP-2 program and South Korea's K2/K21 retrofits. Japan's USD 340 million Type 90 refresh, along with rising interest from Southeast Asian buyers, sustains regional momentum. Open-source imagery also shows China integrating active protection on roughly 400 Type 96/Type 99 tanks by late 2025, although Beijing discloses few details about the program.

North America is expected to record the fastest 2026-2031 CAGR of 12.21% as the US ramps up armored multi-purpose vehicle (AMPV) production and upgrades its legacy combat fleets in parallel. Canada's LAV 6.0 entered full-rate production in 2025, and Mexico invested USD 210 million in mine-resistant vehicles with counter-drone kits to harden domestic security operations. Consistent appropriations and a preference for incremental capability upgrades underpin regional growth.

Europe trails the Asia-Pacific region in revenue but benefits from Germany's Zeitenwende spending, France's Leclerc XLR program, and Poland's Leopard 2PL conversion. The United Kingdom's Challenger 3 line entered production in 2025, closing a rifled-gun gap that had limited ammunition commonality with NATO allies. The Middle East remains a pivotal theater, with Saudi Arabia's USD 1.8 billion Abrams plan and the UAE's efforts to indigenize shaping the local industry footprint. South America and Africa pursue selective refresh work constrained by fiscal headwinds, yet flagship projects in Brazil and South Africa signal longer-term potential.

1. General Dynamics Corporation
2. Rheinmetall AG
3. BAE Systems plc
4. Textron Inc.
5. Elbit Systems Ltd.
6. Oshkosh Corporation
7. KNDS N.V.
8. FNSS Savunma Sistemleri A.S.
9. Thales Group
10. RUAG International Holding AG
11. Patria Plc
12. Bharat Electronics Limited
13. AM General LLC
14. Otokar Otomotiv ve Savunma Sanayi A.S.
15. Singapore Technologies Engineering Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Modernization of ageing armored fleets
  • 4.2.2 Rising defense budgets and geopolitical tensions
  • 4.2.3 Demand for enhanced survivability vs IEDs and drones
  • 4.2.4 Digitization and network-centric warfare upgrades
  • 4.2.5 Field-deployable additive-manufactured retrofit kits
  • 4.2.6 Hybrid/electric-propulsion retrofits for silent mobility
• 4.3 Market Restraints
  • 4.3.1 High program and component costs
  • 4.3.2 Integration complexity with legacy platforms
  • 4.3.3 Budget volatility and procurement cycles
  • 4.3.4 Emerging cybersecurity risks in digital retrofits
• 4.4 Value Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Suppliers
  • 4.7.3 Bargaining Power of Buyers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Vehicle Type
  • 5.1.1 Armored Personnel Carriers (APCs)
  • 5.1.2 Infantry Fighting Vehicles (IFVs)
  • 5.1.3 Mine-Resistant Ambush Protected (MRAP) Vehicles
  • 5.1.4 Main Battle Tanks (MBTs)
  • 5.1.5 Other Vehicle Types
• 5.2 By Upgrade Type
  • 5.2.1 Armor and Survivability Kits
  • 5.2.2 Weapon and Remote Weapon Stations
  • 5.2.3 Mobility (Engine, Transmission, Suspension)
  • 5.2.4 Electronics/Sensors/C4ISR
  • 5.2.5 Powertrain Electrification and Energy Systems
  • 5.2.6 Other Upgrades (Tires, Software, etc.)
• 5.3 By End User
  • 5.3.1 Army
  • 5.3.2 Navy
  • 5.3.3 Air Force
  • 5.3.4 Homeland Security and Paramilitary
• 5.4 By Geography
  • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
  • 5.4.2 Europe
    • 5.4.2.1 United Kingdom
    • 5.4.2.2 France
    • 5.4.2.3 Germany
    • 5.4.2.4 Russia
    • 5.4.2.5 Rest of Europe
  • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 India
    • 5.4.3.3 Japan
    • 5.4.3.4 South Korea
    • 5.4.3.5 Rest of Asia-Pacific
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Rest of South America
  • 5.4.5 Middle East and Africa
    • 5.4.5.1 Middle East
      • 5.4.5.1.1 United Arab Emirates
      • 5.4.5.1.2 Saudi Arabia
      • 5.4.5.1.3 Rest of Middle East
    • 5.4.5.2 Africa
      • 5.4.5.2.1 South Africa
      • 5.4.5.2.2 Rest of Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
  • 6.4.1 General Dynamics Corporation
  • 6.4.2 Rheinmetall AG
  • 6.4.3 BAE Systems plc
  • 6.4.4 Textron Inc.
  • 6.4.5 Elbit Systems Ltd.
  • 6.4.6 Oshkosh Corporation
  • 6.4.7 KNDS N.V.
  • 6.4.8 FNSS Savunma Sistemleri A.S.
  • 6.4.9 Thales Group
  • 6.4.10 RUAG International Holding AG
  • 6.4.11 Patria Plc
  • 6.4.12 Bharat Electronics Limited
  • 6.4.13 AM General LLC
  • 6.4.14 Otokar Otomotiv ve Savunma Sanayi A.S.
  • 6.4.15 Singapore Technologies Engineering Ltd.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-space and Unmet-need Assessment