The demand for armored vehicles continues to look up with the Asia-Pacific region predicted to be major buyers over the next decade. Afghanistan, Australia, China, India, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, South Korea, Taiwan and Thailand all have armored vehicle procurement programs under way or planned.
Around 11,000 light tracked vehicles are forecast to be produced over the next 10 years, valued at over $30 billion. Approximately 27,000 light wheeled vehicles, valued at over $12 billion are also forecast to be produced. There are also still large numbers of Main Battle Tanks (MBTs) in service worldwide. An estimated 89,619 are in current inventories, the Asia-Pacific region accounting for 31% of the total.
The report from IQPC shows a snapshot of India’s requirements:
Main Battle Tanks:
124 + 124 Arjuns, third generation main battle tank
330 T-90S Bhismas, T 90S Main Battle Tanks
1,950 T-72 / T-72 M1 Ajeyas
Armored Infantry Fighting Vehicles and Armored Personnel Carriers:
800+ BMP-1s and BMP-2s, amphibious infantry combat vehicles
100 CASSIPIR MK2s, landmine-protected infantry mobility vehicle
110 BRDM-2 amphibious armored patrol cars
Future Infantry Combat Vehicle – 2,600 vehicles to replace BMP-2s. Requirement may be revived.
1,657 T-90S MBTs are planned by 2020-25 with 1,000 built locally under license. 706 on order so far.
Last updated: December 26th, 2025
