Commercial Armored Vehicle Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Armored vehicles are prepared for hostile environment and provide protection to the passengers from external threats such as bullets and other weapons. Commercial armored vehicles include individual passenger cars, cash in transit vehicles, personnel carriers, and specialty and custom armored vehicles. These vehicles undergo extensive ballistics testing for safe and reliable transportation of large quantities of money or other valuables, typically for banks, corporate clients, law enforcement agencies, and retail companies. They are customized on a basic van or truck chassis, featuring bullet-resistant glass, armor plating, and reinforced shells and cabs. Implementation of advanced technologies in laser cutting and bending, without affecting the metal structure, is one of the factors driving the global commercial armored vehicles market.

MARKET SCOPE

The "Global Commercial Armored Vehicle Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Commercial Armored Vehicle market with detailed market segmentation by component, application, and geography. The global Commercial Armored Vehicle market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Commercial Armored Vehicle market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on vehicle type, the market is segmented into bus, sedan, SUV, and LCVs.
  
•   Based on level of protection, the market is segmented into bullet proof, and blast protection.
  
•   On the basis of materials, the market is segmented into composite armor, bullet-proof glass, bullet-proof steel, and others.
  

MARKET DYNAMICS
Drivers:

•   Rise in number of threats in commercial space with the wide-scale availability of weaponry in several countries
  
•   Advancement in bullet-proofing and blast-proof technologies
  
•   Research and development initiatives in manufacturing methods
  

Restraints:

•   Limited research and development and market scope in developing countries
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Commercial Armored Vehicle market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Commercial Armored Vehicle market in these regions.

IMPACT OF COVID-19 ON COMMERCIAL ARMORED VEHICLE MARKET

At the onset of the COVID-19 pandemic, major defense industry players saw a disruption in the supply chain due to the shutdown of industrial facilities and restrictions on transit between nations. However, as the effects of the crisis created by the pandemic were contained through stringent measures and vaccine drives, various key players started opening up their production facilities and the market started gaining stability. For instance, in April 2021, INKAS, a renowned name in armored vehicle manufacturing based in Canada, increased its capability and capacity to deliver high-quality armored vehicles and fleets, which are now available through the U.S. General Services Administration (GSA) database via their GSA Advantage program. Therefore, the impact of COVID-19 pandemic was initially negative on the market due to disruptions in the global supply chain, and the market is starting to recover in 2021 as governments are readily investing in essential security projects.

Commercial Armored Vehicle Market Report Analysis

Commercial Armored Vehicle Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Armormax
• International Armored Group
• Mahindra Emirates Vehicle Armouring Fz LLC
• MDT ARMOR
• O'GARA ARMORING
• Roshel Inc.
• Schutzcar
• TAG Germany GmbH
• TRASCO Bremen GmbH

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Vehicle Type

• Bus
• Sedan
• SUV
• LCVs

By Level of Protection

• Bullet Proof
• Blast Protection

By Materials

• Composite Armor
• Bullet-proof Glass
• Bullet-proof Steel

MARKET PLAYERS

The report covers key developments in the Commercial Armored Vehicle market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership and collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Commercial Armored Vehicle market are anticipated to lucrative growth opportunities in the future with the rising demand for Commercial Armored Vehicle in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Commercial Armored Vehicle market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Armormax
  
•   International Armored Group
  
•   Mahindra Emirates Vehicle Armouring Fz LLC
  
•   MDT ARMOR
  
•   O'GARA ARMORING
  
•   Roshel Inc.
  
•   Schutzcar
  
•   TAG Germany GmbH
  
•   TRASCO Bremen GmbH
  
•   WELP Holding GmbH
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Commercial Armored Vehicle Market Report Scope