Civilian And Security Vehicle Armoring Market Report

Market Highlights

Vehicle armoring refers to the process of adding ballistic protection to a vehicle to enhance its resistance to various threats, including gunfire, explosives, and other forms of attack. Armored vehicles are designed to provide increased safety and security for passengers, particularly in high-risk environments or situations where there is a heightened risk of violence or attack. Civilian and security vehicle armoring is the process of modifying a non-combat vehicle used by individuals and organizations 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 disruptions, and production halts. The grave impact of this was registered for the civilian and security vehicle armoring market in the year 2020. The civilian and security vehicle armoring market witnessed a decline of over 20% in 2020 amid the pandemic.

The market for civilian and security vehicle armoring has exhibited signs of recovery since 2021. The pandemic-induced economic challenges, including job losses, business closures, and financial instability, have contributed to a surge in poverty and desperation among individuals. The subsequent increase in global crime rates has bolstered the demand for vehicle armoring as individuals seek to protect themselves and their assets from potential threats. Overall, the civilian and security vehicle armoring market is likely to rebound at a promising CAGR of 6.9% in the long run to reach US$1,032.9 million by 2028. The surge in violent crimes, mounting concerns about personal safety, and the rise of high-profile individuals, coupled with greater investment in homeland security and global banking activities, are the key drivers of the demand for civilian and security vehicle armoring during the forecast period. In addition to that, the growing trend of political instability and violence worldwide, coupled with the increasing use of armored vehicles by law enforcement, is expected to drive the demand for civilian and security vehicle armoring business during the forecast period.

Segments Analysis

Based on the product type, the civilian and security vehicle armoring business is segmented into SUVs, sedans, vans, trucks, and others. In terms of products, 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 vehicle armoring 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 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 vehicle armoring 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.

Segmentation

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

Civilian and Security Vehicle Armoring Market, by Product Type

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

Civilian and Security Vehicle Armoring Market, by Application Type

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

Civilian and Security Vehicle Armoring Market, by Engine Type

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

Civilian and Security Vehicle Armoring Market, by Region

• Latin America (Country Analysis: Brazil, Mexico, Colombia, Argentina, Chile, and The 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)

Key Players

The civilian and security vehicle armoring 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 vehicle armoring 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 vehicle armoring realities and future market possibilities for the forecast period. 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 market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 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 market dynamics and will enable strategic decision-making for 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

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

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