Armored Vehicle Market
Frequently Asked Questions of Armored Vehicle Market
An armored VIP car is a popular term used to describe a civilian military vehicle. Its design maximizes the occupants’ ballistic protection from potential threats. Bulletproof glass and armor plates are two essential materials utilized in the construction of civilian armored vehicles.
A civilian armored car is built on the frame of a commercial vehicle. They are produced by adding a ballistic protective layer to an existing model of an armored civilian vehicle. Several commercial OEMs create armored car variants as part of their standard product line. Commercially available armored vehicles include the Audi Security Vehicles (models A6 and A8), BMW Security Series (3 Series, 5 Series, 7 Series, and X5 models), and Mercedes-Benz Guard Vehicles (E, ML, GL, G, and S Class).
Major factors driving Armored Vehicle Market Growth
The demand for armored cars has increased as a result of the increase in extremist threats and insurgencies among civilians. Upper-middle-class people form a key clientele for the overall addressable market for military armored vehicles due to the altered market landscape. The market for armored automobiles has grown due to the increasing demand for security solutions across transportation platforms according to armored vehicles market analysis and armored vehicles market reports.
As per armored vehicles market trends, it is noted that one key factor which is known to affect the market growth for this sector is the rising propensity of crime. When the said armored cars come into the possession of adversaries they can cause massive destruction. For instance, as of 2022, it was noted that the Haitian police lost control of their armored car briefly. The armed vehicle was sent to control gangs.
Trends influencing the Armored Vehicles Market Size
APAC is one of the major market niches in the global market for civil armored vehicles when examining the regional competitive landscape. One of the main drivers for this industry is expected to be the rising need for civilian safety, which will also be fueled by the region’s extraordinarily high crime rate. Additionally, the emergence of urban combat has expanded the market for armored vehicles to include military personnel.
Armored Vehicles Market Forecast & Dynamics
Another important market for military armored vehicles is North America. Sub-regions with higher crime rates than the rest of the area include Baltimore, Detroit, Memphis, and Saint Louis.
It should be mentioned that between FY 2020 and FY 2021, sales of the 5 Series and 7 Series increased by a respective amount of 32.6% and 37.5%, according to BMW sales in North America. In 2021, BMW sold 7,706 7-Series cars. BMW sold 6,443 7-Series vehicles in 2020. They sold 1,263 more units in 2021 than they did in 2020, for a 19.6% YoY increase.
Another armored vehicle that has been popular in the North American market is the X5. In 2021, BMW sold 60,725 X5s. BMW sold 50,642 X5s in 2020. They sold 10,083 more items in 2021 than in 2020, for a 19.91% YoY increase in sales. BMW sold 21,078 X5s in Q3 2022 and around 56,604 X5s throughout 2022.
Armored Vehicle Market Analysis for Recent Developments
Audi announced plans to increase production in India as of 2021. This strategic decision was taken to lower the high import duties imposed on civilian-military vehicles. Popular models for Audi that have been in production within India since this strategic decision include Audi A4 Sedan, Audi A6 Sedan, Audi Q5, and Audi Q7. The Audi Q5 is produced in Aurangabad, India since October 2021. The company plans on developing a strong footprint for armored cars within the Indian market owing to the economic stance of this nation. The carmaker plans on expanding its product line up during the coming decade, thus increasing competitiveness within the Civilian Armored Vehicles Market. The company also initiated the production of Q5 SUVs in the year 2022. Along with the Q5, A4, and A6, the Q7 will be Audi’s fourth made-in-India vehicle and makeup roughly 80% of its sales in India. This decision was also anticipated to increase electric car production within India.