Armored Vehicle Services Industry Profile

Companies in this industry use armored vehicles and security personnel to pick up and deliver money, receipts, and other valuables. Major companies include Dunbar Security Solutions and The Brinks Company (both based in the US), as well as GardaWorld (Canada), G4S (UK), Loomis (Sweden), and Prosegur (Spain).

The global security services market is expected to grow 4.4% annually to $295 billion in 2026, according to Freedonia Group. Growth is driven by strengthening economic environments as the COVID-19 pandemic impact slowly fades. Multinational customers increasingly seek cash-in-transit providers and cash managers with broad geographic reach.

The US armored vehicle industries includes about 830 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $3 billion.

COMPETITIVE LANDSCAPE

Demand is driven by cash transaction volume. The profitability of individual companies depends on their ability to maintain safe, secure, efficient operations. Large companies have economies of scale in fleet management and administrative resources. Smaller companies can compete effectively by focusing on a specific geography. The US industry is highly concentrated: the 50 largest firms account for the entirety of the industry revenue.

Companies that specialize in armored vehicle services may compete with larger providers of general security services that offer a variety of security-related software, hardware, and operational support.

PRODUCTS, OPERATIONS & TECHNOLOGY

Armored vehicle companies typically offer secure logistics and security services including cash-in-transit, ATM replenishment and maintenance, international transportation of valuables, and cash management services. ...