Armored Vehicles Automatic Fire Extinguishing Systems (AFES) Market Size, Share, Growth, and Industry Analysis, By Type (AFES for APCs, AFES for Tanks and Others), By Application (Military, Civilian and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Armored Vehicles Automatic Fire Extinguishing Systems (AFES) Market Report Overview

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The global armored vehicles automatic fire extinguishing systems (AFES) market size was USD 76 million in 2022 & the market is projected to touch USD 102 million by 2031, exhibiting a CAGR of 3.3% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the armored vehicles automatic fire extinguishing systems (AFES) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The industry involved in the development, production, and deployment of fire suppression systems specifically built for armoured vehicles is referred to as the Armoured Vehicles Automatic Fire Extinguishing Systems (AFES) market. AFES are critical safety systems fitted in armoured vehicles such as tanks, fighting vehicles, and other military platforms to detect and extinguish fires that may erupt as a result of combat or other hazards.

The primary goal of AFES is to protect the crew and essential components of the armoured vehicle from fire-related damage, as well as to reduce the danger of injuries or fatalities. Sensors, control panels, suppression chemicals, and discharge mechanisms are common components of these systems, and they all work together to efficiently detect and extinguish flames.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

During the COVID-19 pandemic in 2020, the global market experienced significant slowing due to the temporary halt in most industrial activities, particularly those related to construction, manufacturing, industrial solutions, automotive and other machinery and equipment sectors. However, in 2021, the start of large-scale vaccination efforts eased the lockdown and travel restrictions, allowing manufacturing operations to resume. These factors are projected to boost the market during the forecast period.

LATEST TRENDS

"The Government Regulations and Technological Advancements to Soar Up Market Potentially"

Armored Vehicles Automatic Fire Extinguishing Systems (AFES) Market Segmentation

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• By Type

Based on type the armored vehicles automatic fire extinguishing systems (AFES) market is classified as AFES for APCs, AFES for tanks and others.

• By Application

Based on application the armored vehicles automatic fire extinguishing systems (AFES) market is classified as military, civilian and others.

DRIVING FACTORS

"The Raising Safety and Security for the Vehicles to Reinforce the Market Growth "

The global need for armoured vehicles, as well as increased concerns about safety and security, are driving the expansion of the AFES market. Because of the increasing demand for APCs globally, the armored vehicles automatic fire extinguishing systems (AFES) for the APCs segment is expected to increase at a faster CAGR than other categories during the forecast period. As threats evolve, armoured vehicles with modern fire suppression systems are becoming increasingly important. This includes not only standard fire sources, but also improvised explosive devices (IEDs) and other unusual hazards. As a result, such applications are projected to fuel the growth of the market over the forecast period.

"The Applications in the Military Segment to Witness Tremendous Market Growth"

In terms of revenue, the military segment led the market in 2019, accounting for more than 90.0% of the total. Defence forces all across the world employ armoured vehicles for a variety of purposes, including VIP security, logistics and transportation, and others. Police departments also utilise these vehicles to control crowds at large-scale events such as sporting events or political meetings. The demand for greater safety features in armoured vehicles in armed forces around the world drives the AFES industry. As military operations and battles become more technologically advanced and sophisticated, the requirement for dependable fire suppression systems to protect soldiers and precious assets grows.

RESTRAINING FACTORS

"Pandemic Caused Industrial Slow-Down to Obstruct the Market Growth"

Even though the worldwide armored vehicles automatic fire extinguishing systems (AFES) market is predicted to increase, the industry may face a substantial danger due to a slowdown in industrial expansion and an economic recession. China is one of the primary countries with the greatest market share for the controller.

However, the economic downturn and weaker currency have had a substantial influence on China's market growth. In addition to China, numerous oil and gas-exporting countries have been hit hard by this drop, including Brazil, Russia, Argentina, various Middle Eastern economies, and several African countries. As a result, such factors are projected to impede the armored vehicles automatic fire extinguishing systems (AFES) market growth over the forecast period.

Armored Vehicles Automatic Fire Extinguishing Systems (AFES) Market Regional Insights

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"Asia Pacific Region to Dominate the Market with Major Production and Multiplying Manufacturers"

In terms of revenue, Asia Pacific dominated the global armored vehicles automatic fire extinguishing systems (AFES) market share. Due to rising urbanisation and a growing population, the region is seeing an increase in demand for AFES from nations such as China, India, South Korea, Pakistan, and others. Furthermore, increased worries about public safety and infrastructure protection are expected to boost regional growth over the forecast period. The increased acquisition of armoured vehicles with automatic fire extinguishing systems (AFES) is also ascribed to numerous circumstances such as the rising crime rate along with the civil disorder situation, which requires prompt action by law enforcement organisations. All these factors combined are significantly contributing in the regions armored vehicles automatic fire extinguishing systems (AFES) market growth.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics.The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• Bulldog Direct (U.K)
• Halma (U.K)
• N2 TOWERS (Canada)
• Spectrex (U.S.A)
• UNITED TECHNOLOGIES (U.S.A)
• Marotta Control (U.S.A)
• Fire Protection Technologies (Australia)
• General Dynamics (U.S.A)
• United Technologies (U.S.A).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions.