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Armored Transportation Services in the US Industry Data and Analysis
The armored transportation services industry navigated a challenging period marked by accelerating digital payment adoption and persistent cash weaknesses that fundamentally reshaped demand dynamics. Federal Reserve data shows declining cash usage across retail channels as credit cards, mobile wallets and online banking convenience reduce physical currency transactions, pressuring both ATM services and cash-in-transit operations. Bank branch consolidation has further contracted the addressable market since financial institutions leverage purchasing power to negotiate more favorable contracts while downsizing regional footprints to reduce servicing requirements. Despite these headwinds, industry profit margin demonstrated resilience, rising from 5.6% in 2020 to 6.5% in 2025 as operators implemented efficiency programs and passed through elevated insurance, maintenance and fuel costs to customers. Steel and aluminum tariffs reaching 50.0% by July 2025 exacerbated equipment procurement challenges, increasing armored vehicle costs and compounding operational pressures. Revenue grew at a CAGR of 0.6% through 2025, reaching $4.3 billion despite declining 1.6% in 2025 alone as cash circulation patterns normalized following pandemic-era stimulus distortions.
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What's included in this industry analysis
IBISWorld's research coverage on the Armored Transportation Services industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released October 2025.
About this industry
What's this industry report about?
The Armored Transportation Services industry in the United States operates under the NAICS industry code OD5925. The industry is composed of 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. Related terms covered in the Armored Transportation Services industry in the United States include cash-in-transit (cit), cash management services and mine-resistant ambush protected (mrap).
What's included in this industry?
Products and services covered in Armored Transportation Services industry in the United States include Cash-in-transit (CIT) services, Automatic teller machine (ATM) services and Cash management services.
What companies are included in this industry?
Companies covered in the Armored Transportation Services industry in the United States include Loomis AB, Brink’s Co and Garda World Security Corp.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Armored Transportation Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Armored Transportation Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Armored Transportation Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Armored Transportation Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Armored Transportation Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Armored Transportation Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Armored Transportation Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Armored Transportation Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Armored Transportation Services industry in the United States in 2026?
The market size of the Armored Transportation Services industry in the United States is $4.3bn in 2026.
How many businesses are there in the Armored Transportation Services industry in the United States in 2025?
There are 91 businesses in the Armored Transportation Services industry in the United States, which has declined at a CAGR of 1.3 % between 2020 and 2025.
How may import tariffs affect the Armored Transportation Services industry in the United States?
The Armored Transportation Services industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Armored Transportation Services industry in the United States?
The Armored Transportation Services industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Armored Transportation Services industry in the United States grown or declined over the past 5 years?
The market size of the Armored Transportation Services industry in the United States has been growing at a CAGR of 0.6 % between 2020 and 2025.
What is the forecast growth of the Armored Transportation Services industry in the United States over the next 5 years?
Over the next five years, the Armored Transportation Services industry in the United States is expected to grow.
What are the biggest companies in the Armored Transportation Services industry in the United States?
The biggest companies operating in the Armored Transportation Services industry in the United States are Loomis AB, Brink’s Co and Garda World Security Corp
What does the Armored Transportation Services industry in the United States include?
Cash-in-transit services and Cash handling and management are part of the Armored Transportation Services industry in the United States.
Which companies have the highest market share in the Armored Transportation Services industry in the United States?
The company holding the most market share in the Armored Transportation Services industry in the United States is Loomis AB.
How competitive is the Armored Transportation Services industry in the United States?
The level of competition is high and steady in the Armored Transportation Services industry in the United States.
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