Civilian and Security Armored Vehicle Market is Forecasted to Reach US$ 7.3 billion in 2028, Says Stratview Research

The global civilian and security armored vehicle market is projected to witness a growth rate of 6.9% annually from 2023 to 2028, with an anticipated size of US$ 7.3 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global civilian and security armored vehicle market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 7.3 billion
Growth (CAGR): 6.9% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Civilian and Security Armored Vehicle Market:
The global civilian and security armored vehicle market is segmented based on product type, application type, engine type, and region.

Based on 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.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3611/civilian-and-security-armored-vehicle-market%20%20.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that 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. This growth outlook is majorly attributed to the following-
- The highest crime rates in the world, including high rates of violent crime such as murder, kidnapping, and armed robbery.
- 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.

Civilian and Security Armored Vehicle Market Drivers:

Some of the key drivers listed in the report are given below.
- 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.
- The growing trend of political instability and violence around the world and the increasing use of armored vehicles by law enforcement.

Top Companies in the Civilian and Security Armored Vehicle Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• 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

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Civilian and Security Armored Vehicle Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Armored Vehicle Market: https://www.stratviewresearch.com/2921/armored-vehicle-market.html

• Amphibious Vehicle Market: https://www.stratviewresearch.com/631/amphibious-vehicle-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.