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Bulletproof Armored Vehicle Global Market Report 2025

Published Sep 09, 2025
Length 250 Pages
SKU # BRC20379541

Description

Bulletproof Armored Vehicle Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bulletproof armored vehicle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
  • Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, post-pandemic supply chain realignment, inflation and interest rate fluctuations, and evolving regulatory landscapes.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 2-3 working days of order along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for bulletproof armored vehicle ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The bulletproof armored vehicle market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope

Markets Covered:1) By Product Type: Sport Utility Vehicles( SUVs); Sedan; Pickup Truck; Bus; Other Product Types
2) By Material: Steel; Aluminum; Composite; Other Materials
3) By Armor Type: Ballistic Armor; Blast-Resistant Armor; Combination Armor
4) By Level of Protection: B4; B5; B6; B7; Other Level of Protection
5) By End User: Government And Military; Private Security Services; Law Enforcement Agencies; Commercial Enterprises

Subsegments:
1) By SUV: Luxury Armored SUV; Tactical Armored SUV; Commercial Armored SUV
2) By Sedan: Executive Armored Sedan; Military Armored Sedan; Diplomatic Armored Sedan
3) By Pickup Truck: Tactical Pickup; Utility Pickup; Commercial Armored Pickup
4) By Bus: Armored Personnel Carrier (APC) Bus; VIP Transport Bus; Prisoner Transport Bus
5) By Other Product Types: Armored Vans; Armored Ambulances; Armored Cash-in-Transit Vehicles

Companies Mentioned: Bayerische Motoren Werke Aktiengesellschaft (BMW AG); BRABUS GmbH; Centigon Security Group SAS; WELP Armouring GmbH; MSPV Inc.; Shell Special Vehicles LLC; ArmorMax International LLC; Alpine Armoring Inc.; Mahindra Emirates Vehicle Armouring Fz LLC.; Armored Group LLC; JCBL Armouring Solutions Pvt. Ltd.; INKAS Armored Vehicle Manufacturing Inc.; Armortek International Inc.; Streit Group; SVI Engineering Ltd.; Laggar Industries Ltd.; Troy Armoring LLC; Double Star (Shanghai) Co. Inc.; Secured Armored Vehicles LLC; AddArmor LLC

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order.

Table of Contents

250 Pages
1. Executive Summary
2. Bulletproof Armored Vehicle Market Characteristics
3. Bulletproof Armored Vehicle Market Trends And Strategies
4. Bulletproof Armored Vehicle Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market
4.1. Supply Chain Impact from Tariff War & Trade Protectionism
5. Global Bulletproof Armored Vehicle Growth Analysis And Strategic Analysis Framework
5.1. Global Bulletproof Armored Vehicle PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Bulletproof Armored Vehicle Market Growth Rate Analysis
5.4. Global Bulletproof Armored Vehicle Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Bulletproof Armored Vehicle Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Bulletproof Armored Vehicle Total Addressable Market (TAM)
6. Bulletproof Armored Vehicle Market Segmentation
6.1. Global Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Sport Utility Vehicles(SUVs)
Sedan
Pickup Truck
Bus
Other Product Types
6.2. Global Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Steel
Aluminum
Composite
Other Materials
6.3. Global Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Ballistic Armor
Blast-Resistant Armor
Combination Armor
6.4. Global Bulletproof Armored Vehicle Market, Segmentation By Level of Protection, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
B4
B5
B6
B7
Other Level Of Protection
6.5. Global Bulletproof Armored Vehicle Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Government And Military
Private Security Services
Law Enforcement Agencies
Commercial Enterprises
6.6. Global Bulletproof Armored Vehicle Market, Sub-Segmentation Of SUV, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Luxury Armored SUV
Tactical Armored SUV
Commercial Armored SUV
6.7. Global Bulletproof Armored Vehicle Market, Sub-Segmentation Of Sedan, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Executive Armored Sedan
Military Armored Sedan
Diplomatic Armored Sedan
6.8. Global Bulletproof Armored Vehicle Market, Sub-Segmentation Of Pickup Truck, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Tactical Pickup
Utility Pickup
Commercial Armored Pickup
6.9. Global Bulletproof Armored Vehicle Market, Sub-Segmentation Of Bus, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Armored Personnel Carrier (APC) Bus
VIP Transport Bus
Prisoner Transport Bus
6.10. Global Bulletproof Armored Vehicle Market, Sub-Segmentation Of Other Product Types, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Armored Vans
Armored Ambulances
Armored Cash-in-Transit Vehicles
7. Bulletproof Armored Vehicle Market Regional And Country Analysis
7.1. Global Bulletproof Armored Vehicle Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Bulletproof Armored Vehicle Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8. Asia-Pacific Bulletproof Armored Vehicle Market
8.1. Asia-Pacific Bulletproof Armored Vehicle Market Overview
Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.3. Asia-Pacific Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.4. Asia-Pacific Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
9. China Bulletproof Armored Vehicle Market
9.1. China Bulletproof Armored Vehicle Market Overview
9.2. China Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.3. China Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.4. China Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
10. India Bulletproof Armored Vehicle Market
10.1. India Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.2. India Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.3. India Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11. Japan Bulletproof Armored Vehicle Market
11.1. Japan Bulletproof Armored Vehicle Market Overview
11.2. Japan Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.3. Japan Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.4. Japan Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12. Australia Bulletproof Armored Vehicle Market
12.1. Australia Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.2. Australia Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.3. Australia Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13. Indonesia Bulletproof Armored Vehicle Market
13.1. Indonesia Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.2. Indonesia Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.3. Indonesia Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14. South Korea Bulletproof Armored Vehicle Market
14.1. South Korea Bulletproof Armored Vehicle Market Overview
14.2. South Korea Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.3. South Korea Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.4. South Korea Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15. Western Europe Bulletproof Armored Vehicle Market
15.1. Western Europe Bulletproof Armored Vehicle Market Overview
15.2. Western Europe Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.3. Western Europe Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.4. Western Europe Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16. UK Bulletproof Armored Vehicle Market
16.1. UK Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.2. UK Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.3. UK Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17. Germany Bulletproof Armored Vehicle Market
17.1. Germany Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.2. Germany Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.3. Germany Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18. France Bulletproof Armored Vehicle Market
18.1. France Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.2. France Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.3. France Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19. Italy Bulletproof Armored Vehicle Market
19.1. Italy Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.2. Italy Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.3. Italy Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20. Spain Bulletproof Armored Vehicle Market
20.1. Spain Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.2. Spain Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.3. Spain Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21. Eastern Europe Bulletproof Armored Vehicle Market
21.1. Eastern Europe Bulletproof Armored Vehicle Market Overview
21.2. Eastern Europe Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.3. Eastern Europe Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.4. Eastern Europe Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22. Russia Bulletproof Armored Vehicle Market
22.1. Russia Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.2. Russia Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.3. Russia Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23. North America Bulletproof Armored Vehicle Market
23.1. North America Bulletproof Armored Vehicle Market Overview
23.2. North America Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.3. North America Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.4. North America Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24. USA Bulletproof Armored Vehicle Market
24.1. USA Bulletproof Armored Vehicle Market Overview
24.2. USA Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.3. USA Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.4. USA Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25. Canada Bulletproof Armored Vehicle Market
25.1. Canada Bulletproof Armored Vehicle Market Overview
25.2. Canada Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.3. Canada Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.4. Canada Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26. South America Bulletproof Armored Vehicle Market
26.1. South America Bulletproof Armored Vehicle Market Overview
26.2. South America Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.3. South America Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.4. South America Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27. Brazil Bulletproof Armored Vehicle Market
27.1. Brazil Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.2. Brazil Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.3. Brazil Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28. Middle East Bulletproof Armored Vehicle Market
28.1. Middle East Bulletproof Armored Vehicle Market Overview
28.2. Middle East Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.3. Middle East Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.4. Middle East Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29. Africa Bulletproof Armored Vehicle Market
29.1. Africa Bulletproof Armored Vehicle Market Overview
29.2. Africa Bulletproof Armored Vehicle Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.3. Africa Bulletproof Armored Vehicle Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.4. Africa Bulletproof Armored Vehicle Market, Segmentation By Armor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
30. Bulletproof Armored Vehicle Market Competitive Landscape And Company Profiles
30.1. Bulletproof Armored Vehicle Market Competitive Landscape
30.2. Bulletproof Armored Vehicle Market Company Profiles
30.2.1. Bayerische Motoren Werke Aktiengesellschaft (BMW AG) Overview, Products and Services, Strategy and Financial Analysis
30.2.2. BRABUS GmbH Overview, Products and Services, Strategy and Financial Analysis
30.2.3. Centigon Security Group SAS Overview, Products and Services, Strategy and Financial Analysis
30.2.4. WELP Armouring GmbH Overview, Products and Services, Strategy and Financial Analysis
30.2.5. MSPV Inc. Overview, Products and Services, Strategy and Financial Analysis
31. Bulletproof Armored Vehicle Market Other Major And Innovative Companies
31.1. Shell Special Vehicles LLC
31.2. ArmorMax International LLC
31.3. Alpine Armoring Inc.
31.4. Mahindra Emirates Vehicle Armouring Fz LLC.
31.5. Armored Group LLC
31.6. JCBL Armouring Solutions Pvt. Ltd.
31.7. INKAS Armored Vehicle Manufacturing Inc.
31.8. Armortek International Inc.
31.9. Streit Group
31.10. SVI Engineering Ltd.
31.11. Laggar Industries Ltd.
31.12. Troy Armoring LLC
31.13. Double Star (Shanghai) Co. Inc.
31.14. Secured Armored Vehicles LLC
31.15. AddArmor LLC
32. Global Bulletproof Armored Vehicle Market Competitive Benchmarking And Dashboard
33. Key Mergers And Acquisitions In The Bulletproof Armored Vehicle Market
34. Recent Developments In The Bulletproof Armored Vehicle Market
35. Bulletproof Armored Vehicle Market High Potential Countries, Segments and Strategies
35.1 Bulletproof Armored Vehicle Market In 2029 - Countries Offering Most New Opportunities
35.2 Bulletproof Armored Vehicle Market In 2029 - Segments Offering Most New Opportunities
35.3 Bulletproof Armored Vehicle Market In 2029 - Growth Strategies
35.3.1 Market Trend Based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer
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