Global Armoured Civilian Vehicles Market Overview
Armoured Civilian Vehicles Market Size was valued at USD 3,259.7 million in 2022. The Armoured Civilian Vehicles market industry is projected to grow from USD 3,434.4 million in 2023 to USD 6,047.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period (2023 - 2032). The Armoured Civilian Vehicles industry is expected to experience significant growth due to increasing demand for personal safety concerns, rising political instability and rising high profile terrorist attacks.
Figure 1: Armoured Civilian Vehicles Market Size 2018-2032 (Usd Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Armoured Civilian Vehicles Market Trends
Increasing Demand For Personal Safety Concerns
Personal safety is becoming increasingly important in many parts of the world. Many people feel vulnerable and unprotected as a result of the increase in crime rates, particularly violent crime. Those who are high-profile targets, such as executives, politicians, celebrities, and affluent people, should be especially concerned about this.
In potentially dangerous situations, armoured vehicles offer safety and protection. These vehicles are made to withstand explosions, ballistic strikes, and other forms of hostility. They offer defenses against explosives and small-arms fire, which are frequently employed in attacks on well-known people. Moreover, armoured vehicles have features like reinforced doors, bulletproof glass, and run-flat tires that allow occupants to safely and quickly flee perilous circumstances.
A further factor in the demand for armoured vehicles among prominent people is the increase in kidnapping and ransom. In many regions of the world, kidnapping and demanding ransom have become successful businesses. Kidnappings can be avoided with the use of an armoured vehicle, which can also act as a method of escape during an assault.
Armoured Civilian Vehicles Market Segment Insights:
Armoured Civilian Vehicles Drive Type Insights
By drive Type, the Armoured Civilian Vehicles market has been categorized as wheel and track. According to MRFR analysis, the wheel segment is expected to hold the larger market share.
Wheeled and tracked civilian armoured vehicles are the two primary categories. The most prevalent kind of armoured vehicle has wheels, and it is primarily employed for civil purposes including executive protection, VIP travel, and cash-in-transit services. The chassis of these vehicles, which are typically upgraded with armoured plating, bullet-resistant glass, and other security features, is that of a typical passenger car or SUV.
Figure 2: Armoured Civilian Vehicles Market Share By Drive Type 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Armoured Civilian Vehicles Vehicle Type Insights
By Vehicle Type, the Armoured Civilian Vehicles market has been categorized as Sedan, Trucks & Buses, SUV, Limousine and Others. According to MRFR analysis, the Sedan segment is projected to hold the largest market share in the Armoured Civilian Vehicles market.
One of the most common categories of armoured civilian vehicles is sedans. High-ranking government officials, diplomats, and business leaders frequently favor these vehicles. Sedans offer a high degree of comfort and safety while being lightweight and maneuverable. They provide covert protection while blending in with other on-road cars. Run-flat tires, bullet-resistant glass, and body panels and doors made of reinforced steel are common features of armoured automobiles.
Armoured Civilian Vehicles Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Rest of the World.
The market is led by North America. Due to rising concerns over personal security and safety, the market for armoured civilian cars in North America has experienced significant expansion in recent years. Increased concern for personal protection and safety, an increase in crime, and the accessibility of cutting-edge technologies are the main factors driving the market for armoured civilian cars in North America. To safeguard their assets from potential threats, many people and organizations, including businesses and non-governmental organizations (NGOs), are prepared to invest in armoured cars.
European armoured civilian vehicle industry has been expanding significantly in recent years. Protection from dangers including missile attacks, explosions, and improvised explosive devices is provided by armoured civilian vehicles (IEDs). High-net-worth individuals, public servants, and law enforcement organizations frequently use these vehicles. The growing need for lightweight materials, such composites and high-strength steel, which can offer improved protection while lowering weight, is one of the major developments in the European market for armoured civilian vehicles. This makes armoured vehicles more agile and fuel-efficient, which is crucial in urban settings.
One of the markets for armoured civilian cars that is expanding the fastest is in the Asia Pacific area, which is being propelled by factors including rising crime rates, political unpredictability, and the demand for personal security. High-net-worth individuals, government employees, and business executives use armoured civilian automobiles to defend themselves and their families from potential attacks
Figure 3: Armoured Civilian Vehicles Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Armoured Civilian Vehicles Key Market Players & Competitive Insights
The global armored civilian vehicles market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The vendors must provide cost-efficient and high-quality armored civilian vehicles to sustain their presence in an intensely competitive market environment. During the study, MRFR has analyzed some of the major players in the Armoured Civilian Vehicles Market who have contributed to the market growth. These include BAE Systems plc, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, Krauss-Maffei Wegmann GmbH & Co. KG, Lenco Armored Vehicles, Inc, Lockheed Martin corporation, Oshkosh Corporation, Mahindra Emirates Vehicle Armouring FZ-LLC, and MDT ARMOR
Armoured Civilian Vehicles Industry Developments
September 2022 - Mahindra Emirates Vehicle Armouring, UAE and Jordan, has launched their Mahindra MAXIMUS 4*4 armoured personal carrier with B6 and B7 level bulletproof capabilities for police/paramilitary/troops.
Armoured Civilian Vehicles Market Segmentation:
Armoured Civilian Vehicles Drive Type Outlook:
Armoured Civilian Vehicles Vehicle Type Outlook:
- Trucks & Buses
Armoured Civilian Vehicles Regional Outlook
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- South America
|Market Size 2022
|USD 3,259.7 million
|Market Size 2023
|USD 3,434.4 million
|Market Size 2032
|USD 6,047.3 million
|Compound Annual Growth Rate (CAGR)
|Value (USD Million)
|Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|Drive Type and Vehicle Type
|North America, Europe, Asia Pacific, Middle East & Africa, and South America
|The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil
|Key Companies Profiled
|BAE Systems plc, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, Krauss-Maffei Wegmann GmbH & Co. KG, Lenco Armored Vehicles, Inc, Lockheed Martin corporation, Oshkosh Corporation, Mahindra Emirates Vehicle Armouring FZ-LLC, and MDT ARMOR
|Key Market Opportunities
|· Rise in the number of high net worth individuals · Growing corporate and business travel
|Key Market Dynamics
|· Increasing demand for personal safety concerns · Rising political instability · Rising high profile terrorist attacks.
Armoured Civilian Vehicles Market Highlights:
Frequently Asked Questions (FAQ) :
USD 3,434.4 Million in 2023
USD 6,047.3 Million in 2032
BAE Systems plc, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group, Krauss-Maffei Wegmann GmbH & Co. KG, Lenco Armored Vehicles, Inc, Lockheed Martin corporation, Oshkosh Corporation, Mahindra Emirates Vehicle Armouring FZ-LLC, and MDT ARMOR
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