Gitnux/Report 2026

Armored Car Industry Statistics

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November 10, 2026Updated
Armored Car Industry Statistics
Emilia SantosWritten by Emilia Santos·Edited by Peter Sandoval·Fact-checked by Nikolas Papadopoulos
Published ·Updated
How this report is researched
01Editorial Scope

An editor sets the topic, the inclusion criteria, and the evaluation framework before research starts.

02Source Research

AI search agents locate sources and extract each figure together with the document it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 39 days

01 Industry overview

The armored car industry at a glance

The global cash-in-transit services industry reached $15.49 billion in 2025 and is expanding as banks, retailers and ATM operators continue outsourcing secure cash transport and processing.

$15.49B[52]
Cash-in-transit market, 2025
7.7%[52]
Forecast CAGR, 2025–2030
$5.26B[17]
Brink’s revenue, 2025
46.8%[53]
Heavy-truck share, 2025
Market size
The global cash-in-transit services market reached $15.49 billion in 2025. A narrower vehicle-manufacturing market for cash-in-transit vehicles was valued at $1.42 billion in 2025, reflecting the distinction between outsourced services and the armored vehicles themselves.[52][53]
Forecast & CAGR
Cash-in-transit services are forecast to grow from $15.49 billion in 2025 to $22.55 billion in 2030, representing a 7.7% CAGR. The cash-in-transit vehicle market is projected to rise from $1.42 billion in 2025 to $2.41 billion in 2035, at a 5.4% CAGR from 2026 to 2035.[52][53]
Market share & regions
North America was the largest regional market for cash-in-transit services in 2025, while Asia-Pacific was identified as the fastest-growing region. Brink’s reported 2025 revenue of $1.743 billion in North America, $1.430 billion in Europe, $1.290 billion in Latin America and $800 million in the rest of the world.[52][16]
Segmentation
Cash-in-transit services are segmented into cash transportation, cash processing, ATM services and other services; by transport mode, the market includes armored vehicles, air, rail and marine transportation. End users include banks and financial institutions, retailers, government organizations and hospitality businesses.[52]
Key players & concentration
The principal global cash-logistics competitors include Brink’s, Loomis and GardaWorld, alongside regional operators. Brink’s generated $5.261 billion of total revenue in 2025, including $3.799 billion from Cash and Valuables Management and $1.462 billion from Digital Retail Solutions and ATM Managed Services; comparable consolidated revenue figures are not consistently disclosed by all private competitors.[17][18]
Trends, drivers & challenges
Growth is supported by expanding ATM networks, outsourced cash handling and technology such as secure access management. The main structural challenge is digital substitution: U.S. cash accounted for 14% of consumer payments in 2024, although cash use remained persistent among lower-income and older consumers.[52][54]
Consumer behavior & competition
U.S. consumers made an average of 47 payments per month in 2025, and cash represented six payments, or 14% of the total. Four out of five consumers used cash in the prior 30 days, while debit and credit cards remained the leading competing payment instruments.[54]
M&A
On February 26, 2026, Brink’s entered into a definitive agreement to acquire NCR Atleos, combining cash logistics with ATM managed services. Brink’s said the transaction could produce $200 million of annual run-rate synergies by the end of 2029, subject to closing and regulatory approvals.[17]
Latest news
The major recent industry development is Brink’s planned NCR Atleos acquisition announced in February 2026. By the third quarter of 2026, Brink’s reported that 61 jurisdictions had completed money-transmitter licensing closing conditions and that antitrust and foreign-investment reviews were progressing.[17]

02 Ranking

Top 8 Companies in the Armored Car Industry

The leading companies in the armored car industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 10, 2026 · Next review December 10, 2026

Verdict

Rheinmetall and Hyundai Rotem are tied at the top of Gitnux's 2026 armored car ranking with an Overall score of 9.2 each.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in armored vehicle manufacturing

    Rheinmetall

    DE

    Ranked #1 · 9.2 · Armored vehicle manufacturing

    Why we picked it: Its Vehicle Systems covers military wheeled and tracked vehicles, linking platform supply with program demand.

    See in ranking ↓Visit rheinmetall.com ↗

  2. Leader in smart armored systems

    Roshel

    CA

    Ranked #4 · 8.6 · Smart armored systems

    Why we picked it: It manufactures smart armored vehicles for government and commercial organizations worldwide.

    See in ranking ↓Visit roshel.com ↗

  3. Leader in armored-vehicle electronics

    Elbit Systems

    IL

    Ranked #5 · 8.5 · Armored-vehicle electronics

    Why we picked it: Its Land segment supports armored-vehicle electronics and reported revenue increased 38% in 2025.

    See in ranking ↓Visit elbitsystems.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 8 companies in the armored car industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Rheinmetall

Armored vehicle manufacturing · DE

9.2
2

Hyundai Rotem

Armored vehicle manufacturing · KR

9.2
3

General Dynamics

Armored vehicle manufacturing · US

8.9
4

Roshel

Smart armored systems · CA

8.6
5

Elbit Systems

Armored-vehicle electronics · IL

8.5
6

International Armored Group

Commercial and tactical armored vehicles, global · AE

8.0
7

INKAS Armored Vehicles Manufacturing

Civilian, cash-in-transit and tactical armored vehicles · CA

8.0
8

Oshkosh

Tactical wheeled vehicles and military transport · US

7.9

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 10, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Emilia Santos. (2026, February 13). Top 8 companies in the armored car industry. In Armored Car Industry Statistics. Gitnux. https://gitnux.org/armored-car-industry-statistics/#top-companies

report visual · Comparison

Armored fighting vehicle fleet strength (country)

United States leads with 410K.

United States410K
India164K
China152K
Russia127K
South Korea117K
France111K
source-verifiedglobalfirepower.com

04 Statistics

Technology & Innovation

Training, recovery strategies, and real-time monitoring metrics point to operational controls around AI-enabled cash-logistics. Brink’s managed 11,000+ devices via real-time ATM monitoring and demand-based vehicle dispatch in 2025.

AI in the armored car industry

  • 90%+ of Brink’s regions surpassed cybersecurity-awareness training completion rates in 2025, supporting AI and digital-risk governance across the armored cash-logistics business.[1]
  • 260% was the approximate increase in Brink’s applications with documented recovery strategies after expanded semi-annual assessments in 2025, strengthening resilience for AI-enabled operations.[1]

Automation in the armored car industry

  • Millions of data points were consolidated into Brink’s global automated energy-and-emissions dashboard during 2025.[2]
  • 11,000+ devices were managed by Brink’s through real-time ATM monitoring and demand-based vehicle dispatch for Groupe BPCE’s French network in 2025.[2]

Digital Transformation in the transportation and logistics sector (sector benchmark)

  • Across surveyed freight forwarders and logistics providers, 49% had digitized 50% or fewer of business processes or transactions in November 2024.[3]
  • Among global logistics decision-makers, 51% identified high costs as a challenge to digitalizing logistics operations in 2025.[4]
  • Among global logistics decision-makers, 63% expected digitalization to enhance customer experience in 2025.[4]
  • Across surveyed freight forwarders and logistics providers, 23% had digitized more than 75% of business processes or transactions in November 2024.[3]
  • Among global logistics decision-makers, 69% expected digitalization to improve efficiency in 2025.[4]

Technology Adoption in the transportation and logistics sector (sector benchmark)

  • Across transportation and logistics organizations, 53% were partially or fully deploying AI to reduce workloads in 2024.[5]
  • Among 2026 transportation-management survey respondents, 15% of logistics service providers reported using AI at scale.[5]
  • Across transportation and logistics organizations, 53% were partially or fully deploying automated real-time shipment tracking to address knowledge-worker shortages in 2024.[5]
  • Across transportation and logistics executives surveyed in Europe and North America, 44% were using AI for transportation planning and optimization in 2025.[6]
  • Among 2026 transportation-management survey respondents, 19% of shippers reported using AI at scale.[5]

Cloud Computing in the transportation and logistics sector (sector benchmark)

  • Across travel, transportation and logistics companies surveyed globally, 85% said leadership viewed cloud as a long-term investment in 2023.[7]
  • Across travel, transportation and logistics companies surveyed globally, 84% had increased AI and machine-learning investment during the preceding one to two years.[7]
  • Across travel, transportation and logistics companies surveyed globally, 75% said cloud was crucial to their organization’s future in 2023.[7]
  • Across travel, transportation and logistics companies surveyed globally, 89% planned to increase AI and machine-learning investment during the following one to two years.[7]

Big Data in the transportation and logistics sector (sector benchmark)

  • 45% of surveyed multinational logistics and supply-chain organizations said in 2024 that they were using logistics data to its full potential, according to a survey of 60 organizations.[8]
  • 12.5% of transportation and storage enterprises used both cloud computing and big-data analytics, according to the OECD’s 2026 sectoral comparison of enterprise technology adoption.[9]
  • 38% of surveyed GCC logistics organizations used structured data, while 20% recognized a systematic link between data and business insights, according to a 2023 study.[10]
  • Among global logistics decision-makers, 49% expected digitalization to improve data visibility in 2025.[4]
  • 9.5% of transportation and storage enterprises used big-data analytics alone in the OECD’s 2026 cross-sector comparison, based on the latest available enterprise data.[9]
  • Among global logistics decision-makers, 34% identified data analytics, including cloud platforms and AI-powered solutions, as the most critical technology in 2025.[4]

IoT in the transportation and logistics sector (sector benchmark)

  • Among global logistics decision-makers, 23% identified IoT as the most critical technology in 2025.[4]
  • 48% of transport-sector respondents had adopted vehicular tracking and route optimization in 2024, according to Viasat’s State of IoT survey.[11]
  • 39% of transport-sector respondents had deployed shipment or supply-chain tracking in 2024, compared with 20% that had deployed cold-chain tracking.[11]
  • 72% of transport and logistics businesses had fully deployed at least one IoT project in 2021, while 29% had completed a deployment during the preceding 12 months.[12]
  • Among logistics organizations surveyed across multiple countries, 63% of companies in Belgium and the Netherlands used real-time tracking in 2024.[5]
  • 72% of surveyed transportation respondents said they currently had IoT deployed for fleet management in Verizon’s 2025 IoT market survey.[13]

05 Statistics

Data & Analytics

Data quality and governance show up as scaling constraints for logistics AI, with survey results separating security and maturity. 33% of transportation and logistics shippers cited data quality as a top barrier to scaling AI in 2026.

Data Quality in the transportation and logistics sector (sector benchmark)

  • Across supply management organizations, 33% rated their data-security ability as very high for assuring data quality in 2024.[14]
  • Across supply management organizations, 67% said their data quality was better or significantly better than two years earlier in 2024.[14]
  • Across transportation and logistics shippers, 33% identified data quality as a top barrier to scaling artificial intelligence in 2026.[5]
  • Across supply management organizations, 49% rated their data quality as good or excellent in 2024.[14]

Data Governance in the transportation and logistics sector (sector benchmark)

  • Across supply management organizations with a data-governance function, 47% housed it in a center of excellence in 2024.[14]
  • Across supply management organizations with a data-governance program, 81% found the program useful in 2024.[14]
  • Across supply management organizations, 61% had a dedicated data-governance function in 2024.[14]
  • 49% of shipper respondents said their supply chain governance maturity was running in place, with no noticeable progress, in the 2024 global survey.[15]
  • 39% of 3PL respondents said their supply chain governance maturity was running in place, with no noticeable progress, in the 2024 global survey.[15]
  • 19% of shipper respondents said their supply chain governance maturity was running ahead, meaning proactive and predictable, in the 2024 global survey.[15]

06 Statistics

Strategy & Growth

Growth figures tie armored-operations categories to ATM managed services and digital retail solutions, while vehicle and defense segment revenue remains a separate benchmark. Brink’s 2024 organic growth in cash and valuables management was 9%.

Growth in the armored car industry

  • 23% was Brink’s 2024 organic growth in ATM managed services and digital retail solutions.[16]
  • 20.7% was Oshkosh’s 2024 year-over-year increase in operating income, reaching $1.01 billion.[17]
  • 8.8% was General Dynamics Combat Systems revenue growth in 2024, reaching $8,997 million.[17]
  • 11.1% was Oshkosh’s 2024 revenue growth versus 2023, reaching $10.7 billion.[17]
  • 9% was Brink’s 2024 organic growth in cash and valuables management.[16]
  • 12% was Brink’s organic revenue growth in 2024, compared with 3% reported total revenue growth.[16]

Differentiation in the armored car industry

  • $2,932 million was General Dynamics’ 2024 weapons-systems, armament and munitions revenue alongside its military-vehicle business.[17]
  • $5,101 million was General Dynamics’ 2024 military-vehicle revenue, its largest Combat Systems product category.[17]
  • SEK 628 million was Loomis’s 2024 foreign-exchange and global-solutions revenue, separate from cash-in-transit services.[18]
  • $169.1 million was Oshkosh’s 2024 research-and-development expense across its vehicle and equipment businesses.[17]
  • $964 million was General Dynamics’ 2024 engineering and other services revenue within Combat Systems.[17]
  • SEK 106 million was Loomis Pay revenue in 2024, adding an integrated digital-payment offering to its traditional cash-services portfolio.[18]

Mergers and acquisitions in the armored car industry

  • $62.5 million was Brink’s 2024 expense associated with acquisitions and dispositions, compared with $70.6 million in 2023.[16]
  • $200 million was the approximate enterprise value reported for Loomis’s 2014 acquisition of VIA MAT Holding AG, expanding international valuables logistics.[18]
  • $200 million was the estimated annual run-rate cost synergy from Brink’s proposed 2026 NCR Atleos acquisition.[16]
  • $6.6 billion was the announced 2026 value of Brink’s proposed acquisition of NCR Atleos, including cash, stock and assumed debt.[16]
  • $73.3 million of the 2024 increase in product-segment sales at a protective-equipment company was attributed to recent acquisitions, including armor products.[17]
  • 35% was the minimum expected accretion to Brink’s earnings per share from the proposed 2026 NCR Atleos transaction.[16]

Strategic partnerships in the armored car industry

  • $2,155.2 million was Oshkosh’s 2024 Defense segment net sales, supported primarily by long-term government contracts and Foreign Military Sales programs.[17]
  • $2 million was the 2024 increase in General Dynamics international military-vehicle revenue, including sales under allied and partner programs.[17]
  • $245.1 million was Oshkosh’s 2024 defense sales to Europe, Africa and the Middle East, reflecting international defense-program relationships.[17]
  • More than 140 countries were included in the global footprint described for the proposed Brink’s–NCR Atleos combination in 2026.[16]
  • $1,896.0 million was Oshkosh’s 2024 U.S. defense sales, including vehicles supplied through government and defense-program relationships.[17]
  • $14.1 million was Oshkosh’s 2024 defense sales to the rest of the world outside North America and Europe, Africa and the Middle East.[17]

07 Statistics

People & Workforce

Workforce and turnover metrics connect to dispatch and fleet operations continuity. Brink’s voluntary employee-turnover rate was 9% in 2025 and 10% in 2024.

Hiring in the armored car industry

  • 23% was Brink’s global new-hire rate in 2024, calculated as hires including rehires divided by average headcount.[19]
  • 21% was Brink’s global new-hire rate in 2025, calculated as hires including rehires divided by average headcount.[1]
  • 65,400 employees worked for Brink’s at December 31, 2025, comprising approximately 63,600 full-time and 1,800 part-time employees worldwide.[16]
  • 19% was Brink’s global new-hire rate in 2023, calculated as hires including rehires divided by average headcount.[19]

Employee retention in the armored car industry

  • 22% was Brink’s voluntary employee-turnover rate in 2022 across the company’s reported global workforce.[19]
  • 75% of respondents to Brink’s 2023 global employee-engagement survey would recommend Brink’s as a good place to work.[20]
  • 9% was Brink’s voluntary employee-turnover rate in 2025 across the company’s reported global workforce.[1]
  • 10% was Brink’s voluntary employee-turnover rate in 2024 across the company’s reported global workforce.[19]
  • 16% was Brink’s voluntary employee-turnover rate in 2023 across the company’s reported global workforce.[19]

Remote Work in the transportation and logistics sector (sector benchmark)

  • Among U.S. transportation, logistics, supply-chain and storage hires, 17.0% of hires at small companies were remote during the year ending September 2024.[21]
  • Across U.S. transportation and utilities, 20.3% of workers could work from home in 2024–2025, while 18.6% actually did so, according to annual averages.[22]
  • Across U.S. transportation and utilities occupations, about 11% of workers worked remotely at least sometimes from October 2023 through September 2024.[23]
  • In the U.S. transportation and warehousing industry, 13.9% of wage and salary employees worked from home in January 2025.[24]

Hybrid Work in the transportation and logistics sector (sector benchmark)

  • Among U.S. remote-capable employees, 54% worked hybrid schedules in August 2026.[25]
  • Among transportation employers surveyed for the U.S. Job Outlook, 33.3% reported fully hybrid work arrangements in 2024.[26]
  • Across transportation and logistics companies surveyed globally, 42% reported a hybrid work arrangement in 2025.[27]
  • Globally, 25% of engaged employees were working in hybrid arrangements in 2025, compared with 30% of exclusively remote employees and 17% of on-site, non-remote-capable employees.[25]

Upskilling in the armored car industry

  • 12 months was the duration of Brink’s Future Leaders leadership-development program for emerging leaders in 2025.[16]
  • 330+ G4S employees in the United Kingdom were undertaking apprenticeships in the company’s latest published careers update.[28]
  • 10 months was the duration of Brink’s Future Leaders leadership-development program for emerging leaders in 2023.[17]
  • 5,000+ learning resources were available through G4S’s MyLearning online platform, including courses, podcasts, e-books and virtual classrooms.[28]
  • 930+ G4S employees in the United Kingdom had completed an apprenticeship by the time of the company’s latest published careers update.[28]

Employee Engagement in the transportation and logistics sector (sector benchmark)

  • In U.S. logistics, 71% of frontline workers reported workplace stress in 2024.[29]
  • In U.S. logistics, more than 60% of frontline workers considered their roles long-term career commitments in 2024.[29]
  • In U.S. logistics, 40% of frontline workers wanted to quit in 2024, according to a survey of 500 logistics employees.[29]
  • Across Asia-Pacific transport and logistics organizations, 62% of employees were actively engaged, based on feedback from 30,116 employees in 24 surveys.[30]
  • Globally, 20% of employees were engaged at work in 2025, while 16% were actively disengaged.[25]

DEI in the armored car industry

  • 5 employee resource or affinity groups were identified for U.S. employees by Brink’s in 2023, covering women, Black employees, Asian Pacific Islander employees, Latinx employees and military veterans.[17]
  • 43% of Brink’s employees were represented by trade unions or covered by collective-bargaining agreements at December 31, 2023.[17]
  • 42% of Brink’s employees were represented by trade unions or covered by collective-bargaining agreements at December 31, 2025.[16]

08 Statistics

Customer & Sales

Customer footprint and facilities coverage describe how cash-logistics scale runs across networks. Brink’s said 1,300 facilities supported customer operations globally in 2024.

Customer experience in the armored car industry

  • 1,300 Brink’s facilities supported customer operations globally in 2024.[20]
  • 20 countries contained Prosegur Cash operations in 2024.[31]
  • 100+ countries were served by Brink’s in 2024, giving customers access to its global cash and valuables management network.[20]
  • Approximately 24,500 employees supported Loomis customer operations in 2024.[18]
  • More than 100,000 ATMs were covered by Prosegur Cash in 2024.[31]

Customer retention in the armored car industry

  • 3 customers accounted for 37.26% of Radiant Cash Services revenue in the year ended March 31, 2025, indicating concentration among retained accounts.[32]
  • 3 customers accounted for 41.42% of Radiant Cash Services revenue in the year ended March 31, 2024.[32]

Customer acquisition in the armored car industry

  • 33.4% was Prosegur Alarms’ revenue growth in 2024, reaching €221 million.[31]
  • Approximately 550,000 connections belonged to Movistar Prosegur Alarms in Spain at the end of 2024.[31]
  • More than 960,000 connections formed Prosegur Alarms’ customer base at the end of 2024.[31]
  • 8 countries made up Prosegur Alarms’ international operating market in 2024, excluding its Spanish joint venture.[31]
  • 10.5% was Prosegur Alarms’ customer-base growth in 2024, including its Movistar Prosegur Alarms joint venture.[31]

Customer loyalty in the armored car industry

  • 27 countries were served by Loomis in 2024 through its international cash-management network.[18]
  • 30.4 billion SEK was Loomis revenue in 2024, reflecting the scale of its customer relationships.[18]
  • 165 years was Brink’s operating history in 2024, a longevity claim used to communicate trust to customers.[16]

09 Statistics

Marketing & Brand

Revenue mix figures quantify where technology-enabled cash-logistics offerings sit inside overall results. Digital Retail Solutions and ATM Managed Services accounted for 24% of Brink’s 2024 revenue.

Marketing in the armored car industry

  • 48% of Loomis 2024 revenue came from Europe and Latin America.[18]
  • 30.4 billion SEK was Loomis revenue in 2024.[18]
  • 51% of Loomis 2024 revenue came from the United States segment.[18]
  • 36% of Loomis 2024 revenue came from cash-in-transit services.[18]
  • 24% of Brink’s 2024 revenue came from Digital Retail Solutions and ATM Managed Services.[16]

Digital marketing in the armored car industry

  • Less than 1% of Loomis 2024 revenue came from Loomis Pay digital services.[18]
  • 24% of Brink’s 2024 revenue came from Digital Retail Solutions and ATM Managed Services, its technology-enabled customer offering category.[16]
  • 1.212 billion USD was Brink’s 2024 revenue from Digital Retail Solutions and ATM Managed Services.[16]
  • 10% or more was Brink’s organic growth in Digital Retail Solutions and ATM Managed Services across all segments in 2024.[16]

Branding in the armored car industry

  • 165 years of operation was Brink’s stated history in 2024.[20]
  • 1859 was the founding year Brink’s used in its 2024 corporate profile to emphasize brand heritage.[16]
  • 85% of Brink’s employees said they were proud to work for the company in 2024, according to its sustainability report.[20]

Influencer Marketing in the transportation and logistics sector (sector benchmark)

  • 43% of worldwide B2B marketers who achieved positive results said micro-influencers generated the most success in 2024.[33]
  • 49% of B2B marketers selected industry relevance as a criterion for choosing influencers in 2025, globally.[34]
  • 58% of B2B marketers selected authenticity and credibility as criteria for choosing influencers in 2025, globally.[34]
  • 29% of B2B companies planned to adopt influencer marketing within the following year in 2025, globally.[34]
  • 53% of U.S. B2B marketers reported a growing dedicated influencer-marketing budget in 2024 survey data.[33]

10 Statistics

Operations & Execution

Operational metrics emphasize fleet size, dispatch infrastructure, and equipment-driven throughput changes. Brink’s reported 16,077 vehicles operated or leased globally at December 31, 2024.

Process optimization in the armored car industry

  • 16,077 vehicles were operated or leased by Brink’s across North America, Latin America, Europe and the rest of the world at December 31, 2024.[17]
  • 2–3 times larger was Brink’s estimated addressable market after adding ATM managed services and digital retail solutions to traditional cash management.[17]
  • 45% lower cost over useful life was projected for Brink’s redesigned armored vehicle compared with its previous vehicle design.[17]
  • 25% productivity improvement was achieved in Chicago after Brink’s introduced high-speed money-processing equipment in its network-optimization program in 2017.[17]
  • 24% of Brink’s revenue came from ATM managed services and digital retail solutions in 2025, according to the company’s revenue-mix presentation.[17]

Operational efficiency in the armored car industry

  • 88% of Brink’s employees were located outside the United States at December 31, 2024.[17]
  • 3,000-plus vehicles were operated by Loomis in the United States as part of its nationwide cash-management infrastructure.[18]
  • 68,100 people were employed by Brink’s globally at December 31, 2024, including approximately 66,100 full-time and 2,000 part-time employees.[17]
  • 15.7% was Loomis USA’s operating margin, measured as EBITA, in 2024.[18]
  • 1,212 million dollars of Brink’s revenue came from ATM managed services and digital retail solutions in 2024.[17]

Quality management in the armored car industry

  • 45% of Brink’s North America branches had a new mobility component live during the company’s 2017–2019 technology roadmap.[17]
  • 14 years was the projected depreciable life of the redesigned Brink’s armored-vehicle body, compared with 8 years for the previous design.[17]
  • One Brink’s North America branch had gone live with the company’s new branch operating system by March 31 during the technology-roadmap rollout.[17]
  • 7 years was the stated warranty period for Brink’s redesigned armored-vehicle chassis and body system.[17]
  • 100-plus countries were served by Brink’s global network in 2024, requiring standardized cash and valuables-management processes across markets.[17]

Supply chain in the armored car industry

  • 267 North American facilities were operated by Brink’s at December 31, 2024, comprising 231 leased and 36 owned sites.[17]
  • 1,269 facilities supported Brink’s global supply chain at December 31, 2024, including secure branches and vehicle terminals.[17]
  • 5,068 vehicles operated in Latin America were listed by Brink’s at December 31, 2024.[17]
  • 4,461 vehicles operated in Europe were listed by Brink’s at December 31, 2024.[17]
  • 16,077 vehicles supported Brink’s cash and valuables supply chain globally at December 31, 2024.[17]

Outsourcing / Offshoring in the transportation and logistics sector (sector benchmark)

  • Across surveyed logistics companies in Germany, the rest of Europe and Latin America, 65% expected outsourcing to continue increasing in 2026.[35]
  • Across surveyed logistics companies in Germany, the rest of Europe and Latin America, 57% planned outsourcing projects in warehousing in 2026.[35]
  • Across surveyed logistics companies in Germany, the rest of Europe and Latin America, 25% had fully outsourced warehouse operations in 2026.[35]
  • Across surveyed logistics companies in Germany, the rest of Europe and Latin America, about 60% had fully outsourced transportation services in 2026.[35]

11 Statistics

Finance & Pricing

Margins, reinvestment, and revenue allocations show where pricing discipline translates into financial outcomes. Brink’s 2024 GAAP operating margin was 9.0%.

Pricing strategy in the armored car industry

  • 15.4% was Brink’s adjusted EBITDA margin in 2019, the first year shown in its investor-day financial series.[17]
  • 25%–27% was Brink’s targeted mid-term organic-growth range for ATM managed services and digital retail solutions.[17]
  • Pricing based on competitive advantages rather than price alone was Brink’s stated approach in its 2024 annual report.[17]
  • 18.6% was Brink’s projected adjusted EBITDA margin for 2025 in its investor-presentation consensus series.[17]
  • 5,011.9 million dollars was Brink’s consolidated revenue in 2024.[17]

Cost reduction in the armored car industry

  • 608.2 million dollars was Brink’s 2024 cost-of-revenues segment-item amount reported for one consolidated operating category.[17]
  • 25% productivity improvement was recorded in Chicago after Brink’s installed high-speed money-processing equipment.[17]
  • 0.7 million dollars of net restructuring costs were recognized by Brink’s in 2024.[17]
  • 3,743.1 million dollars was Brink’s cost of revenues in 2024.[17]
  • 1.3 was Brink’s reinvestment ratio in 2024, defined as property and equipment acquired divided by depreciation.[17]

Profitability in the armored car industry

  • 453.0 million dollars was Brink’s GAAP operating profit in 2024.[17]
  • 426.0 million dollars was Brink’s net cash from operations in 2024.[17]
  • 162.9 million dollars was net income attributable to Brink’s shareholders in 2024.[17]
  • 12.6% was Brink’s non-GAAP operating margin in 2024.[17]
  • 9.0% was Brink’s GAAP operating margin in 2024.[17]

Financial planning in the armored car industry

  • 92.7 million dollars was Brink’s provision for income taxes in 2024.[16]
  • 1.3 was Brink’s reinvestment ratio in 2022, according to its three-year capital-investment series.[17]
  • 5.0 billion dollars was Brink’s 2024 revenue target and result reported in its annual proxy materials.[17]
  • 30 billion Swedish kronor-plus was Loomis’s 2024 revenue, reported for its global cash-management and payments operations.[18]
  • 235.4 million dollars was Brink’s interest expense in 2024.[16]

12 Statistics

Product & Service

Vehicle programs and production-rate constraints highlight how armored-platform planning affects procurement timing. Rheinmetall’s 2024 Vehicle Systems backlog was €21.881 billion.

Product development in the armored car industry

  • The 2023 RCV-Light development effort involved four companies: McQ, Textron Systems, General Dynamics Land Systems and Oshkosh Defense.[36]
  • The S-MET Increment II program had an Army acquisition objective of up to 2,195 systems after developmental testing.[36]
  • $1.6 billion was awarded in 2023 for two XM30 detailed-design, prototype-build and testing contracts in the United States.[36]
  • The first M1E3 Abrams early prototype was unveiled in January 2026 in the United States.[36]
  • Up to 11 XM30 prototype vehicles, plus two ballistic hulls and turrets, were required under the 2023 U.S. Army development contracts.[36]

Product lifecycle in the armored car industry

  • Rheinmetall’s 2024 Vehicle Systems backlog was €21.881 billion, including €16.838 billion in order backlog and €5.043 billion in framework backlog.[2]
  • The MPF low-rate initial production phase was planned for approximately fiscal years 2022 through 2025 before full-rate production.[37]
  • Armoured vehicles have platform lifespans exceeding 40 years, according to a 2023 industry report.[38]
  • The AMPV replaces the U.S. Army Armored Brigade Combat Team’s M113 family of vehicles.[39]
  • The XM30 program expected a vendor down-selection near the end of fiscal year 2027 and first unit equipped in fiscal year 2029.[36]

After-sales in the armored car industry

  • The AMPV production plan specified a minimum sustaining rate of five vehicles per month and a maximum sustaining rate of approximately 20 vehicles per month.[40]
  • Rheinmetall reported a €630 million service contract associated with Germany’s Heavy Weapon Carrier Boxer program in 2024.[41]
  • Rheinmetall’s Vehicle Systems operating free cash flow was €275 million in 2024, compared with €426 million in 2025.[2]
  • The AMPV full-rate production plan specified approximately 16 to 17 vehicles per month, compared with 12 vehicles per month during low-rate initial production.[40]
  • Rheinmetall Vehicle Systems’ 2024 operating result was €425 million, with an 11.2% operating margin.[2]

Value proposition in the armored car industry

  • The M1E3 Abrams prototype emphasizes advanced protection, reduced weight and a smaller logistical footprint for future battlefield operations.[36]
  • The MPF design requirement allowed two vehicles to be transported in a single C-17 aircraft in an operational drive-on, drive-off configuration.[37]
  • The XM30 program was designed to improve armored-brigade lethality while reducing risk through digital design, modular open architecture and prototype testing.[36]
  • The 2026 M1E3 Abrams design responds to drone and long-range precision-weapon threats across a wide range of terrains and theaters.[36]

13 Statistics

Sustainability & Ethics

Emissions accounting and audit structures support compliance reporting tied to fleet and operations. Brink’s fleet Scope 1 emissions were 281,681 metric tons in 2025.

Sustainability in the armored car industry

  • More than 175,000 employees worked for Prosegur across 36 countries in 2024.[31]
  • €39 million was allocated to sustainability-related impact, risk and opportunity management at Prosegur in 2024 globally.[31]
  • 36 countries were served by Prosegur across its security, cash and alarms businesses in 2024.[31]
  • 22 tonnes of electronic waste were recovered and recycled by Prosegur’s alarm business in 2023.[31]
  • 2 sustainability audits were planned by Prosegur for 2024 under its 2024–2027 Sustainability Master Plan.[31]

ESG in the armored car industry

  • More than 100,000 security guards worked for Prosegur Security in 2024.[31]
  • 4 points was Prosegur’s year-on-year ESG-score improvement in the 2024 assessment.[31]
  • 51 out of 100 was Prosegur Cash’s ESG score in S&P Global’s 2024 Corporate Sustainability Assessment.[31]
  • 44 out of 100 was Prosegur’s ESG score in S&P Global’s 2024 Corporate Sustainability Assessment.[31]
  • 8 points was Prosegur Cash’s year-on-year ESG-score improvement in the 2024 assessment.[31]

Ethics in the armored car industry

  • 880 people were involved in managing Prosegur’s sustainability-related impacts, risks and opportunities in 2024.[31]
  • 2,500 Prosegur Cash employees were included in an Agile-certification agreement with ESIC Business School.[31]
  • 22.1 was Prosegur’s employee-voice rating in its third polling round in 2024.[31]
  • 4 languages were used for Prosegur’s corporate training content in its global learning platform.[31]
  • 31 countries were covered by Prosegur’s ethics and compliance activities in 2024.[31]

CSR in the armored car industry

  • 3 shared-services centres supported Prosegur’s employee administration in Spain, Brazil and Argentina.[31]
  • 36 countries were included in Prosegur’s global employee-training footprint in 2024.[31]
  • 40 years will mark Prosegur’s Madrid National Training Centre in 2025.[31]
  • 2.4 million teaching hours were delivered by Prosegur in 2022, a 17% increase from the prior year.[31]
  • 23,000 geolocated devices were managed by Prosegur Alarms in 2024.[31]

Circular economy in the armored car industry

  • 1 eco-design approach was applied to Prosegur uniforms to extend their useful life.[31]
  • 2023 was the year in which Prosegur reported recovering and recycling 22 tonnes of alarm-related electronic waste.[31]
  • 1 segregated-waste system was deployed at Prosegur operational headquarters as part of its circular-economy approach.[31]
  • 1 standardised printing model was used by Prosegur across countries to reduce toner and paper waste.[31]
  • 22 tonnes of electronic waste were saved from disposal through Prosegur’s alarm recovery and recycling initiative in 2023.[31]

Carbon footprint in the armored car industry

  • 268,411 metric tons of CO2e were Brink’s fleet Scope 1 emissions in 2024.[42]
  • 152,718 metric tons of CO2e were Loomis’ gross Scope 3 emissions in 2024.[18]
  • 37,138 metric tons of CO2e were Loomis’ location-based Scope 2 emissions in 2024.[18]
  • 281,681 metric tons of CO2e were Brink’s fleet Scope 1 emissions in 2025.[1]
  • 10,873 metric tons of CO2e were Brink’s facilities Scope 1 emissions in 2024.[42]

15 Statistics

Globalization & Expansion

Regional revenue and international footprint figures show how cross-border operations scale. Brink’s 2024 revenue in Europe was $1,227.4 million.

Globalization in the armored car industry

  • $1,311.0 million was Brink’s 2024 revenue in Latin America, with 35% organic growth reported for the region.[17]
  • $422.6 million was Oshkosh’s 2024 sales to the rest of the world across its vehicle businesses, including defense vehicles.[17]
  • SEK 15,634 million was Loomis’s 2024 external revenue from the United States, its largest reported national market.[18]
  • $1,227.4 million was Brink’s 2024 revenue in Europe, up 8% from 2023 and representing its international armored-transport and valuables-management operations.[17]
  • $837.4 million was Oshkosh’s 2024 sales to Europe, Africa and the Middle East across its vehicle businesses, including defense vehicles.[17]

Supplier management in the armored car industry

  • $1,977 million was Oshkosh’s 2024 defense-segment revenue recognized from point-in-time contracts, while $178 million was recognized over time.[17]
  • $2 million was the 2024 increase in General Dynamics revenue from international military vehicles.[17]
  • $2,155.2 million was Oshkosh’s 2024 Defense segment net sales, compared with $2,001.4 million in 2023.[17]
  • $218 million was the 2024 increase in General Dynamics revenue from U.S. military vehicles, driven primarily by higher volume on the M10 Booker combat-vehicle program.[17]
  • 96% of Oshkosh Defense segment revenue in 2024 came from U.S. government-sponsored programs, including Foreign Military Sales.[17]

Stakeholder management in the armored car industry

  • No single Loomis customer represented more than 10% of total revenue in 2024, indicating a diversified customer base.[18]
  • $426 million was Brink’s cash flow from operations in 2024, supporting investment and returns to stakeholders.[16]
  • $911.9 million was Brink’s adjusted EBITDA in 2024, up 5% from 2023.[17]
  • Approximately 24,000 full-time employees worked for Loomis across its international cash and valuables-management operations in 2024.[18]
  • $1,276 million was General Dynamics Combat Systems operating earnings in 2024, on revenue of $8,997 million.[17]

Distribution channels in the armored car industry

  • $1,649.7 million was Brink’s 2024 North America revenue across cash and valuables-management and related service channels.[17]
  • SEK 1,630 million was Loomis’s 2024 international-services revenue, covering international valuables logistics and related services.[18]
  • SEK 6,381 million was Loomis’s 2024 ATM-services revenue, including secure replenishment, monitoring and maintenance services.[18]
  • SEK 10,780 million was Loomis’s 2024 cash-in-transit revenue, including SEK 5,754 million in the United States and SEK 5,026 million in Europe and Latin America.[18]
  • SEK 5,313 million was Loomis’s 2024 cash-management-services revenue from processing and handling banknotes and coins.[18]

Key questions about the Armored Car Industry

What is the market size for cash-in-transit services in 2025?
The global cash-in-transit services industry reached $15.49 billion in 2025.
How fast is the cash-in-transit services market expected to grow?
Cash-in-transit services are forecast to grow from $15.49B in 2025 to $22.55B in 2030 at a 7.7% CAGR.
Which companies lead the armored car industry?
Rheinmetall and Hyundai Rotem are tied at the top of Gitnux's 2026 armored car ranking with an Overall score of 9.2 each.
What technology shifts affect the armored cash-logistics value chain?
The industry cites secure access management and AI-enabled operations, alongside demand-based vehicle dispatch and real-time ATM monitoring.
How concentrated is competition among cash logistics providers?
Brink’s is one of the principal global cash-logistics competitors, with $5.261B total revenue in 2025; comparable consolidated revenue figures are not consistently disclosed by private competitors.
How is market structure changing in 2026 around ATM services?
Brink’s entered a definitive agreement on February 26, 2026 to acquire NCR Atleos, combining cash logistics with ATM managed services; Brink’s reported 61 jurisdictions had completed money-transmitter licensing closing conditions by Q3 2026.
Reference

Cite This Report

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APA
Emilia Santos. (2026, February 13). Armored Car Industry Statistics. Gitnux. https://gitnux.org/armored-car-industry-statistics
MLA
Emilia Santos. "Armored Car Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/armored-car-industry-statistics.
Chicago
Emilia Santos. 2026. "Armored Car Industry Statistics." Gitnux. https://gitnux.org/armored-car-industry-statistics.

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