In April of 2005, A.T. Kearney released a report about the armored vehicle market. The report showed that the global demand for armored vehicle in the year prior was estimated at 36,000 vehicles, which translates to $1.1 billion. The armored vehicle was defined into three separate categories; passenger vehicle, Cash-in-Transit, and military vehicle.
Out of the estimated 36,000 vehicles on demand during that time, 14,700 (40.83%) of it are for passenger vehicles, while 11,700 (32.5%) and 9,600 (26.67%) are for Cash-in-Transit and military vehicles, respectively.
Global Demand for Armored Vehicle
In North America, the military demand for armored vehicle grew exponentially due to 9.11, while in Western Europe (i.e. Germany, UK, Italy), the demand for armored passenger vehicles was relatively low compared to Eastern Europe (i.e. Russia) and Latin America (i.e. Brazil). On the other side of the globe, both China and the Philippines kept the demands high in the Asia Pacific region, whereas demands for Cash-in-Transit armored vehicles grew in Africa, and [armored] rental services in the Middle East still continued to import their vehicles from the US (because of the Iraq situation).