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    Civilian And Security Armored Vehicle Market Report

    Civilian And Security Armored Vehicle Market   Report
    Report code - SR2726 Published On : Sep,2023 No. of Pages: 145
    Civilian and Security Armored Vehicle Market Size, Share, Trend, Forecast, Competitive Ana See more...

    Market Insights

    Civilian and security armored vehicles are non-combat bulletproof vehicles used by individuals and organizations designed to provide enhanced protection against various threats, including ballistic attacks, explosives, and hostile environments. These vehicles can be SUVs, sedans, vans, trucks, or other vehicles such as buses or camper vans. These vehicles are used by both civilians and security entities to ensure the safety and security of individuals, assets, and valuable cargo.

    In 2020, the sudden outburst of the COVID-19 pandemic shook various industries. The industries recorded a massive decline in the year 2020 across regions due to lockdowns across nations, limited availability of raw materials, supply chain disruption, and production halts. The grave impact of this was registered for the civilian and security armored vehicle production in the year 2020 too, witnessed a decline of -19.7% in 2020 amid the pandemic.

    However, civilian and security armored vehicle production started rebounding from 2021 onwards. Economic downturns resulting from the pandemic, such as job losses, business closures, and financial instability, led to increased poverty and desperation. This, in turn, drove the crime rate across the world and ultimately fueled the armored vehicles market. Overall, civilian and security armored vehicle production is likely to rebound at a promising CAGR of 6.9% in the long run to reach US$ 7.3 billion in 2028.

    Major factors, such as an increase in violent crimes, increasing concern about personal safety, an increasing number of high-profile individuals, increasing investment in homeland security, and global banking activities, drive the demand for civilian and security armored vehicles during the forecast period. In addition to that, the growing trend of political instability and violence around the world and the increasing use of armored vehicles by law enforcement are further expected to fuel the demand for civilian and security armored vehicles during the forecast period.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Product-Type Analysis

    SUV, Sedan, Van, Truck, and Others

    SUVs are anticipated to remain the major vehicle category for civilian and security armored vehicles in the years to come.

    Application-Type Analysis

    Passenger Protection Vehicles, Cash-in-Transit Vehicles, Specialty Vehicles, Law Enforcement Vehicles, and Others

    Passenger protection vehicles remain the biggest application category for civilian and security armored vehicles during the forecast period.

    Engine-Type Analysis

    Conventional, Electric, and Hybrid

    Conventional engines are expected to be the dominant engine type whereas hybrid engines are expected to be the fastest-growing engine type during the study period.

    Regional Analysis

    Latin America, Middle East & and Africa, North America, Asia-Pacific, and Europe

    Latin America is expected to remain the largest producer as well as the fastest-growing market over the next five years.

    Based on the product type, the civilian and security armored vehicle production is segmented into SUVs, sedans, vans, trucks, and others. In terms of production, SUVs are expected to remain the largest and fastest-growing product type during the forecast period. This is due to the high demand for armored SUVs among celebrities, CEOs, businessmen, ultra-rich individuals, politicians, and famous athletes. In addition to that, SUVs often have higher payload capacities, making them capable of carrying the additional weight of armoring materials. The most common armored SUVs are the Toyota Land Cruiser, Ford Raptor, Mercedes-Benz S-Class, Cadillac Escalade, and Toyota Corolla Cross.

    Based on the application type, the market is segmented into passenger protection vehicles, cash-in-transit vehicles, specialty vehicles, law enforcement vehicles, and others. Passenger protection vehicles are expected to be the fastest-growing application category for civilian and security armored vehicles during the forecast period. The primary driver for the demand for passenger protection vehicles is security concerns. People and organizations seek armored vehicles to protect against various threats, including crime, terrorism, and civil unrest. High-profile individuals, such as celebrities, politicians, and business executives, as well as organizations, invest in armored vehicles due to the risk of targeted attacks, kidnappings, or theft.

    Based on the engine type, the market is segmented into conventional vehicles, engine vehicles, and hybrid vehicles. Conventional engine is likely to remain the most preferred engine type for civilian and security armored vehicles during the forecast period. Conventional vehicles have a longer range, are more reliable, are less expensive than electric and hybrid vehicles, and are more versatile. Hybrid engine is expected to be the fastest-growing engine type for civilian and security armored vehicles during the forecast period due to gaining popularity among NGOs, government officials, and high-net-income individuals. In addition to that, hybrid vehicles are typically more fuel-efficient than conventional vehicles. To further add to that, technological advancements are expected to fuel the demand for hybrid engines for civilian and security armored vehicles during the forecast period.

    In terms of regions, Latin America is expected to remain the largest as well as the fastest-growing market for civilian and security armored vehicles during the forecast period due to the highest crime rates in the world, including high rates of violent crime such as murder, kidnapping, and armed robbery. In addition to that, the region has a presence of many major armorers, such as Carbon Blindados and VRZ Blindados, that have tie-ups with the biggest OEMs such as Volvo, Jaguar Land Rover, and Toyota for armoring new vehicles. In Latin America, Brazil is the leading producer of civil and security armored vehicles.

    Key Players

    The civilian and security armored vehicle business is highly consolidated from a regional perspective except in Latin America. The Latin American market is relatively fragmented considering other regions in mind. The following are the key players in the civilian and security armored vehicles market.

    • Carbon Blindados
    • Streit Group
    • VRZ Blindados.
    • International Armoring Corporation (Armormax)
    • Avallon Blindagens
    • INKAS Armored Vehicle Manufacturing
    • W Truffi Blindados
    • BSS Blindagens
    • CART Veículos Blindados
    • Centigon Group
    • The Armred Group
     

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s civilian and security armored vehicles production realities and future possibilities for the forecast period. The report provides a comprehensive analysis at the production level. Stratview Research mapped almost all the leading players in five regions to understand regional production.

    The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Production trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for existing and new players
    • Key success factors

    The civilian and security armored vehicle market is segmented into the following categories. 

    Civilian and Security Armored Vehicle Production, by Product Type

    • SUV (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe) 
    • Sedan (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Van (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Truck (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Others (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)

    Civilian and Security Armored Vehicle Production, by Application Type

    • Passenger Protect. Vehicle (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Cash-in-transit Vehicle (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Specialty Vehicle (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Law Enforcement Vehicle (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Others (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)

    Civilian and Security Armored Vehicle Production, by Engine Type

    • Conventional (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Electric (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)
    • Hybrid (Regional Analysis: Latin America, Middle East & Africa, North America, Asia-Pacific, and Europe)

    Civilian and Security Armored Vehicle Production, by Region

    • Latin America (Country Analysis: Brazil, Mexico, Colombia, Argentina, Chile, and Rest of Latin America)
    • North America (Country Analysis: The UAE & Jordan, South Africa, Nigeria, Kenya, Uganda, and Rest of Middle East & Africa)
    • North America (Country Analysis: The USA, and Canada)
    • Asia-Pacific (Country Analysis: China, India, Japan, South Korea, Vietnam, Australia, and Rest of Asia-Pacific)
    • Europe (Country Analysis: France, The UK, Germany, and Rest of Europe)

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The civilian and security armored vehicle production is estimated to grow at a CAGR of 6.9% by 2028, driven by increasing crime rate, increase in homeland security spending, increasing number of billionaires, threats to politicians and celebrities, and matter of status among ultra-rich individuals.

    Carbon Blindados, Streit Group, VRZ Blindados, International Armoring Corporation (Armormax), Avallon Blindagens, INKAS Armored Vehicle Manufacturing, BSS Blindagens, CART Veculos Blindados, Centigon Group, The Armored Group (TAG), Mahindra Emirates Vehicle Armouring (MEVA), International Armored Group, SVI Engineering, Aurum Security, Trasco Bremen GmbH, Ballistic Group, W Truffi Blindados, Alpine Armoring Inc., DARTZ Motorz, and Lenco Armored Vehicles are the leading players in the civilian and security armored vehicle market.

    Latin America is estimated to remain dominant in civilian and security armored vehicle production in the foreseeable future. The key economies driving the regions demand for civilian, and security armored vehicles are Brazil, Mexico, and Argentina.

    Latin America is estimated to remain the fastest-growing market for civilian and security armored vehicles in the foreseeable future . Countries with the world's highest crime rate are located in the region resulting in increased demand for armored vehicles in the region.

    Passenger protection vehicles are estimated to remain the dominant application throughout the study period as the major demand for civilian armored vehicles comes from celebrities, politicians, businessmen, ultra-rich individuals, and other individuals having death threats.

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