Body Armor Market Growth and Future Prospects Analyzed
Posted by Vakhas on October 24th, 2019
The global body armor market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. The evolution of warfare has largely become asymmetric in nature and includes counter-terrorism and counter-insurgency. Similar scenarios exist in the law enforcement sectors, wherein felons, criminals, and law offenders are capable of fatally injuring responding officers, thus necessitating the demand for body armor equipment.
Surge in military warfare is propelling the need for improved ballistic protection equipment in order to safeguard the personnel and armed forces. Emerging economies such as India, South Korea, and China are persistently focusing on the replacement of legacy military equipment and are subsequently increasing their spending on the defense sector. Modernization activities are creating several growth opportunities for body armor providers. They are also trying to gain a competitive edge by collaborating with different military agencies through contracts.
Technological advances are accelerating the market growth as there is a rise in the use of innovative products, such as liquid body armor and dragon skin. Additionally, demand for modular tactical vests and double-sided combat uniforms is increasing owing to their benefits, such as enhanced protection and improved soldier survivability.
Prominent manufacturers of personal protection suits are extensively investing in R&D activities for the development of advanced fibers, fabrics, and nanotechnology materials to improve the effectiveness of a body armor. Use of modular tactical vests is gaining momentum and these vests are rapidly replacing the conventional outer tactical vests (OTVs) that limit a soldier’s efficiency of carrying additional assault loads, such as magazines (firearms) and grenades.
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Further key findings from the study suggest:
- The law enforcement protection segment is expected to expand at the highest CAGR of 5.9% from 2019 to 2025 as compared to the defense and civilians segments. Demand is particularly high in U.S. owing to a significant rise in crime rates and incidents of mass shootingT
- he level III segment accounted for 23.7% of the overall revenue in 2018. These bodysuits offer better protection as compared to the level I, level IIA, level II, and level IIIA. Furthermore, the armor is suitable for full-time wear in several warfare and combat situations
- The market in North America accounted for the largest share of the overall revenue in 2018. Government initiatives such as the U.S. army equipment modernization strategy and soldier protection system (SPS) are remarkably contributing to the regional market growth
- Prominent players operating in the body armor market include Aegis Engineering Ltd.; AR500 Armor; BAE Systems; Ballistic Body Armor Pty; Craig International Ballistics Pty Ltd.; Ceradyne, Inc.; Hellweg International; Kejo Limited Company; Pacific Safety Products; Point Blank Enterprises, Inc.; and Safariland, LLC.