India Armoured Personnel Carrier Market by Configuration

Synopsis
The above chart is India Armoured Personnel Carrier Market Forecast to 2027 by Configuration (USD Million)

Market Dynamics

the indian armoured personnel carrier (apc) market is expected to witness significant growth in the coming years, according to a recent report by market research future. the demand for apcs is driven by the ever-increasing threat of terrorist attacks, border conflicts, and internal security challenges. the government’s focus on modernizing the armed forces and increasing defense spending is also expected to propel the growth of the apc market in india. one of the key factors driving the growth of the apc market in india is the increase in defense spending. india’s defense budget has seen a consistent increase in the past few years, and with the government’s emphasis on modernizing the armed forces, a significant chunk of this budget is expected to be allocated to the procurement of apcs. the configuration segment of the apc market in india is categorized into wheeled and tracked vehicles. the wheeled configuration is anticipated to dominate the market owing to its high mobility and cost-effectiveness. these vehicles are preferred for counter-insurgency operations, urban warfare, and transportation purposes. however, the tracked configuration is expected to witness significant growth owing to its capability to operate in rough terrains, such as deserts, mountains, and snow-covered areas. the indian government’s make in india initiative, aimed at promoting indigenous defense production, is also expected to boost the apc market in the country. this initiative has encouraged foreign players to collaborate with indian companies to develop and manufacture apcs in india. this is expected to create opportunities for local players and generate employment in the defense sector. moreover, the increasing focus on strengthening border security and the need for rapid response forces in case of terrorist attacks have also led to a rise in demand for apcs in india. the defense acquisition council’s approval for the purchase of light armoured vehicles (lavs) for the indian army and the indian air force in 2019 is a testament to the growing demand for apcs in the country. in conclusion, the indian apc market is poised for significant growth in the next few years, owing to the increasing defense budget, focus on modernization, and government initiatives to promote indigenous manufacturing. the demand for both wheeled and tracked configurations is expected to rise, providing opportunities for both foreign and domestic players in the market.