Global Armored Vehicle Market is estimated to reach $39 billion by 20 Global Armored Vehicle Market growing at a CAGR of

Global Armored Vehicle Market growing at a CAGR of 4.7%
between 2016 and 2024
Global Armored Vehicle Market is estimated to reach $39 billion by 2024; growing at a CAGR of 4.7%
between 2016 and 2024. Armored vehicles are security vehicles used to transport under armed security
or by replacing the standard windows with bulletproof glass motor vehicle with a high degree of security.
Armored vehicles were solely owned and used by military, law enforcement, ministers and diplomates,
but in the recent years, the vehicles are witnessing high demand from prominent corporate people, VIPs
and celebrities. The ever-increasing security challenges are the main reasons for the various government
bodies as well as civilians to adopt an armed vehicle. The armed vehicles used by civilians are either factory
produced model car or retrofitted versions of series car. Drivers of such vehicles need specialized training
in skillful driving owing to its high weight and difficulty in handling.
Browse Complete Report @ https://www.variantmarketresearch.com/report-categories/defense-
aerospace/armored-vehicle-market
Increasing internal & external security threats and increasing violence in countries such as Syria, Iraq and
other regions in the world are driving global armored vehicle market. Increasing defense expenditure
especially in emerging economies and increasing popularity of rental & leasing of armored cars among
civilians also supports the growth of the market. However, lack of standardization, regulatory rules and
limited defense budgets may hinder the growth of the market. Furthermore, need for light weight
VARIANT MARKET RESEARCH
1