THE RISING COST OF SAFETY: HOW CRIME IS DRIVING THE ARMORED VEHICLE BOOM.

Crime rates in America have been rising steadily over the past few years, with violent crimes like robbery and burglary seeing some of the biggest increases. This rise in crime has led to unexpected growth in the armored vehicle industry as banks, retailers, and other private companies seek ways to safely transport cash and valuables.

Armored GMC Yukon prior to client delivery. Armored to CEN B6 to withstand the most common threats in the United States.

The numbers speak for themselves - FBI statistics show that robbery rates rose over 8% last year alone. For banks, the risk of high-value theft and robberies has never been greater. To mitigate the risk, financial institutions have been turning to armored carriers to securely transport cash between branches, ATMs, and currency processing centers.

Armored truck companies like GardaWorld, Loomis, and Brink’s have seen demand for their vehicles and transport services surge over the past two years. Brink’s, a leading global player in cash logistics, reported a 9% spike in North American armored service revenue in Q1 2022 compared to the same period last year. Other carriers are reporting similar growth.

And it’s not just banks fueling the demand. Large national retailers like Walmart, Target, CVS, and Costco are contracting armored car services at higher rates to protect employees making cash pickups and replenish registers with sufficient change. Most major retailers routinely handle over $100k per week per store in cash flow. Protecting and tracking this cash is now mission critical.

The boom in legal cannabis dispensaries is also driving armored car business, as state laws often require frequent armored pickups to comply with strict transparency regulations regarding cash-only sales.

With no slowdown expected in robbery rates and related crime, armored carriers are ramping up fleets and hiring guards to meet demand. The costs of vehicles, fuel, specialized security tech, and wages are all rising sharply in response. These mounting expenses are reflected in higher rates charged to new and existing armored transport clients - most security firms have increased standard fees 10 to 20 percent this year.

While unfortunate for society, the growing crime wave provides a golden opportunity for the nimble armored car industry to expand services and provide vital protection for businesses facing greater criminal threats. As banks, retailers, and cannabis sellers adjust to the new risk landscape, companies like Garda, Brink’s, and Loomis are gearing up for the heavy lifting to keep cash on the move safely.

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It’s not just businesses anymore – Wealthy civilians are taking action to keep themselves and their loved ones safe while on the move. Certain regions are driving more interest according to industry data. Major metro areas like New York City and Los Angeles have strong demands for security-enhanced vehicles from clients concerned over carjackings, shootings, and other crimes targeting vehicles. Armored cash transport trucks are also upgrading to higher levels of shielding to better protect against robberies and heists, now more boldly executed with military-grade weapons in some cases.

The expanding market for armored vehicles serves as another indicator of the severity of growing crime affecting society today. Though execs may now ride to work worry-free behind inch-thick ballistic glass, addressing the complex forces driving this uptick remains key - a weighty challenge for community leaders and lawmakers alike. For security providers though, the path ahead seems paved with increased opportunities if crime trends continue on their current trajectory. A sobering reality check that the vehicles they craft are becoming more vital by the day.

THE RISING COST OF SAFETY: HOW CRIME IS DRIVING THE ARMORED VEHICLE BOOM.

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