At IDEX 2021, Streit Group announces that Despite COVID 19 related disruptions in the supply chain which have set back most of the industry’s manufacturing, for the time being, STREIT managed to grow by more than 25% in 2020.
STREIT Group’s Chairman Guerman Goutorov and Steven Seagal at the front of Streit Group booth at IDEX 2021. (Picture source Army Recognition)
A report published by the global consulting firm markets and markets, the global armored vehicles market size is projected to grow from USD 11.6 billion in 2020 to USD 15.4 billion by 2025, at a CAGR of 5.8% from 2020 to 2025. Commenting of the market growth, STREIT Group’s Chairman Guerman Goutorov said “the growth in the Middle East and Africa region is far above the global growth rate.”
A few months ago, Streit Group has started the third expansion phase of our facilities in Ras al Khaimah which will be ready by the end of 2021”, said Guerman Goutorov.
Set on a 3.5Million sqft plot of land in the heart of Ras AL Khaimah’s free zone, STREIT Group is currently erecting 8 brand-new buildings that will increase the facility’s footprint by nearly 80,000sqm! Which is basically doubling the surface of its current built-up area.
The 30million USD project was launched in late 2020 and live-streamed on STREIT Group’s Youtube channel and followed by many. Sharing the current status during IDEX 2021, Mr. Goutorov confirmed that “the construction is well underway, we are expecting the project to be completed by November 2021. The ambitious expansion demonstrates STREIT Group continues to remain the leading manufacturer of armored solutions and a provider of choice for many.”
Thanks to continued feedback and special requests from its clients, STREIT Group will boost its product lines by adding Navy products, Air defense products but also in-house chassis development as well as a brand-new sales and training academy! Future plans of the company include the product range’s extension to all kinds of commercial and specialized vehicles including Fire Trucks, Ambulances, and other Civil Defense equipment.
For more information about Streit Group, visit this link https://www.armored-cars.com/
