Armored Vehicle Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 11/1/2021
SIC Codes: 7381
NAICS Codes: 561613
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from 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, GardaWorld, and The Brinks Company (all based in the US), as well as G4S (the UK), Loomis (Sweden), and Prosegur (Spain).

The global security services market is expected to grow at up to 3.6% per year or about $263 billion by 2024, according to Freedonia Group. The strongest growth is anticipated in emerging markets such as China and India, while Europe is the largest market. 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.


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 in the US: the four largest companies account for about 90% of 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.


Armored vehicle companies typically offer secure logistics and security services including cash-in-transit, ...

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