Global Bulletproof Vest Market 2016-2020
About Bullet Proof Vest
A bulletproof vest, also known as a bullet-resistant vest or ballistic vest is a type of personal protective equipment. It is used by the military, law enforcement personals, and many times by civilians as a protective cover against bullets and shrapnel from explosions. Soft bulletproof vests weigh less and provide protection against small-caliber handguns. Hard bulletproof vests are used in combat, high-risk tactical missions, and hostage rescue missions.
Technavio’s analysts forecast the global bullet proof vest market to grow at a CAGR of 7.47% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global bullet proof vest market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of bulletproof vests widely used worldwide in various end-user applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bullet Proof Vest Market 2016-2020
Technavio recognizes the following companies as the key players in the global bullet proof vest market: VestGuard UK, Point Blank Body Armor, Canarmor, and Black Hawk.
Other prominent vendors in the market are: Armor 500, Armour Wear, BulletBlocker, EnGarde, Imperial Armour, PPSS, Survival Armor, T.G. FAUST, and US Armor.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is growing demand for Dyneema. The particular purpose of Dyneema used in the bulletproof vest is to reduce the impact of the bullet in a significant manner. The materials currently used is made from Ultra High Molecular Weight Poly Ethylene (UHMWPE) and aramid fibers. The aramid fibers are developed by upgrading the bulletproof nylon fiber whereas UHMWPE is developed from polyesters. Kevlar is the dominating material that is used in the bulletproof vest, which belongs to the aramid fiber. However, Dyneema belongs to UHMWPE, and has the same formula as that of common polyethylene but is different due to its high molecular weight. Dyneema is expected to dominate the market owing to its strengths when compared to the traditional material, Kevlar.”
According to the report, one of the primary drivers in the market is growth in arms and ammunition transfer. The terrorists are easily acquiring weapons in two major ways. Firstly, through the illegal trade of weapons like mortars, land mines, and rifles. These weapons are being circulated for years as a result of the Soviet Union and the US supporting their allies during the Cold War. These weapons can be easily smuggled across the borders. The second way to acquire the weapons is through the non-state organizational acquisition of weapons from soldiers defeated in battles. For instance, Boko Haram benefits from corrupt sources in the Nigerian military, who provide weapons to the terrorist group. Also, ISIS acquired many man-portable weapons from the battlefields of Iraq and more sophisticated weapons when it overran Iraqi military bases. With the rise in illegal trafficking of weapons, the threat of attacks on the armed forces is rising, which, in turn, raises the need for serious protection of the armed troops. This, in turn, drives the demand for the bulletproof vests worldwide for defense, law enforcements as well as the protection of civilians.
Further, the report states that one major challenge in the market is heavy weight of protection equipment. The increasing terrorist attacks worldwide have raised the demand for bulletproof vests for law enforcement agencies, security personnel, and soldiers. However, with modifications in the materials, the weight of the bulletproof vest rises, thereby limiting the mobility and flexibility of the wearer. The heavy weight of the bulletproof glass combined with the equipment that the wearer carries, such as the ammunition and radio, in turn, reduces the efficiency and mobility of the bulletproof vest wearer. Thus, the need for an effective yet light-weighted bulletproof vest act as a challenge for the manufacturer of the bulletproof vest.
VestGuard UK, Point Blank Body Armor, Canarmor, Black Hawk, Armor 500, Armour Wear, BulletBlocker, EnGarde, Imperial Armour, PPSS, Survival Armor, T.G. FAUST, US Armor.
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