Armored Transportation Services in the US - Industry Market Research Report

Lock and key: Greater demand for the industry's handling and management services will continue to prompt growth

The industry includes companies that pick up and deliver money, receipts or other valuable items in armored vehicles. Over the past five years, the industry has benefited from growth following the greater economy. In particular, consumer spending has climbed, increasing the number of cash transactions. Even so, the industry has faced mounting pressure, particularly from the growing prevalence of noncash payment methods and the increasing negotiating power of banks, the industry's largest client base. Through 2023, the industry will expand at an expected CAGR of 2.5% to $4.4 billion, including a 1.7% hike in 2023 as the economy continues to recover from the pandemic, spurring spending and banking activity. This industry includes companies that pick up and deliver money, receipts or other valuable items in armored vehicles. These establishments maintain personnel and equipment to protect such properties while in transit. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.