Armored Car Market Size to Nearly Double to USD 33.05 Billion by 2032 Report Reveals Share & Growth

FAIRFIELD, Conn. - Oct. 7, 2025 - PRLog -- Ameco Research has released its latest Armored Car Market Report, offering deep insights into Armored Car Market Size, Share, Growth, Trends, and Analysis over the period 2023-2032. This forecast shows the global armored car sector nearly doubling in value, driven by rising security concerns, growth in cash-in-transit and VIP protection needs, and expansion of defense and law enforcement requirements worldwide.

Key Statistics & Highlights from the Armored Car Market Report

• Market Size & Forecast: The global Armored Car Market Size was valued at approximately USD 17,126 million in 2022, and is projected to reach around USD 33,046 million by 2032, growing at a compound annual growth rate (CAGR) of 6.9% from 2023-2032.
• Analysis Period: The report considers data from 2020 onward with detailed forecasting through 2032.
• Ownership & Type Segmentation: In 2022, government-owned armored cars contributed significantly (approximately USD 10.3 billion) to the global market share. Cash-in-transit (CIT) vehicles dominated by type, making up over 40% of market that year.
• Regional Insights & Share: North America led market in 2022, commanding more than 36% market share. Asia-Pacific region is expected to be the fastest growing region, with a CAGR above 7% over forecast period.

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Armored Car Market Trends, Growth & Analysis

Armored Car Market Trends point to several key drivers boosting Armored Car Market Growth:

• Rising crime rates, geopolitical instability, and concerns over asset safety are fueling demand for high-protection vehicles globally.
• Growth in cash-handling transactions and increased use of digital finance has not eliminated need for physical transport of valuables, sustaining demand for CIT vehicles.
• Increasing VIP protection needs are pushing demand for armored sedans, SUVs, and specialty vehicles.

In Armored Car Market Analysis, key factors include regulatory and certification requirements for ballistic protection, rising manufacturing costs for armored components, and need for customization (e.g. armoring levels, communication/security features). Barriers include high capital costs, maintenance complexity, and limited awareness in regions with lower security budgets.

Regional & Competitive Landscape

Regarding Armored Car Market Share, North America remains dominant region thanks to strong corporate and government demand, high spending power, and established manufacturers in segment. Asia-Pacific, meanwhile, is forecast to show fastest growth, supported by rising income levels, increased security spending, and expanding armored vehicle manufacturers.

Key Players:

• BAE Systems
• Bullrich
• Ford Motor Company
• General Dynamics Land Systems
• INKAS Group
• Iveco Defence Vehicles
• Lenco Armored Vehicles
• MSPV
• Oshkosh Defense
• Streit Group

Read Full Analysis: https://www.amecoresearch.com/market-report/armored-car-market-277095