The Global Body Armor and Personal Protection Market 2017-2027
Global body armor and personal protection market is expected to value US$2.1 Billion in 2017, and will grow at a CAGR of 4.11%, to value US$3.1 Billion by 2027. The cumulative market for global expenditure on military body armor and personal protection will reach US$27.7 Billion over the forecast period. The demand for body armors and personal protection equipment is expected to be driven by modernization initiatives undertaken by various large defense spenders across the world and internal security threats, such as terrorism and organized crime and police modernization programs.
During the forecast period, the soft armor segment is expected to account for the largest share of spending, accounting for 36% of the overall global market. Spending in the soft armor segment will be largely driven by procurement programs in the European region, followed by investments in Asia-Pacific, North America, and the Middle East. Innovations in developing integrated under suit systems, soft ballistic protection plates, and exoskeletons will drive demand for soft armor and provide better flexibility and speed suited for a wide range of missions.
Military body armor and personal protection market is expected to be led by North America with a share of 34.9% over the forecast period, followed by Asia-Pacific with 21.3% and Europe with 18.9%. The Middle Eastern market for military body armor and personal protection is expected to account for 14.5%, followed by the Latin American and African markets with shares of 5.6% and 4.8%.
The advent of various soldier modernization programs is one of the major factors that drive the body armor and personal protection market. Countries including the UK, France, Germany, and Italy, who participated in operations in Iraq and Afghanistan, along with the US, have identified capability gaps in their soldier systems which created difficulty in troop movement due to their heavy weight systems in difficult terrains.
The report “The Global Body Armor and Personal Protection Market 2017-2027” offers detailed analysis of the body armor and personal protection market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing the demand for body armor and personal protection.
In particular, this report provides the following analysis -
- Overview: Snapshot of the body armor and personal protection market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the body armor and personal protection market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the body armor and personal protection market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the body armor and personal protection market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the body armor and personal protection segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of the competitive landscape of the body armor and personal protection industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: BAE Systems, Honeywell International, Inc, 3M, ArmorSource LLC, Combat Clothing Australia, Survitec Group Limited, Plasan Sasa Composite Materials, Anjani Technoplast Ltd, M Cubed Technologies, Sarkar Defence Solutions, Point Blank Body Armor Inc, Bates Footwear, Inc.
- The global body armor and personal protection market is expected to grow at a CAGR of 4.11% over the forecast period.
- The market consists of five categories: Soft Armor, Hard Armor, Protective Headgear, Protective Clothing, and Boots. It is expected to be dominated by the Soft Armor segment, followed by Hard Armor and Protective Headgear. The North American region is forecasted to dominate the sector with a share of 32.2%, and the Asia-Pacific market is dominated by China, India, and Australia. Russia and the UK occupies a major market share in the European region.
Reasons to buy
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- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
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- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top body armor and personal protective equipment providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available