The Global Body Armor and Personal Protection Market 2018-2028
Global body armor and personal protection market is expected to grow at a CAGR of 4.55% to value US$3.5 billion by 2028. The cumulative market for global expenditure on military body armor and personal protection will reach US$30.6 billion over the forecast period. The demand for body armor and personal protection equipment is expected to be driven by modernization initiatives undertaken by various defense forces and law enforcement agencies across the world, and internal security threats, such as terrorism, insurgency and organized crime.
The trend towards the development of lightweight ballistic material is one of the major factors propelling defense authorities towards procuring newer-generation personal protection equipment. As such, countries are focusing on manufacturing better solutions such as ballistic inserts, lightweight under suits, combat helmets, anti-mine boots and flame resistant uniforms that provide the benefits of comfort and enhanced protection to ground forces.
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. The protective clothing segment is expected to account for the second largest share of 22% of the global market owing to the initiatives undertaken by various governments to supply specialized leather gloves and coats for extreme cold climates to troops deployed in high altitude areas, along with the deployment of improved fire resistant uniforms for ground troops.
Hard armor is anticipated to be the third largest segment over the forecast period. Driven by large scale procurement programs in countries such as India, China, and Pakistan, the Asia-Pacific region is expected to be one of the fast growing markets in terms of the hard armor segment with a CAGR of over 6%. North America and the Middle East are projected to account for the second and third largest markets in this segment over the forecast period.
The body armor and personal protection market is expected to be led by North America with a share of 29.1% over the forecast period, followed by Europe and Asia-Pacific. The Middle Eastern market for military body armor and personal protection is expected to account for 14.8%, followed by the African and Latin American markets respectively.
This report ""The Global Body Armor and Personal Protection Market 2018-2028"" offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for body armor and personal protective equipment, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following -
- Overview: Snapshot of the Body Armor and Personal Protection market during 2018-2028, 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 the 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 the 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 competitive landscape of the global 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, 3M, ArmorSource LLC, Survitec Group Limited, Anjani Technoplast Ltd, M Cubed Technologies, Sarkar Defence Solutions, Bates Footwear, Inc., Tata Advanced Materials Limited, Bluewater Defense, Inc.
- The global body armor and personal protection market is expected to grow at a CAGR of 4.55% over the forecast period.
- The market consists of five categories: Soft Armor, Hard Armor, Protective Headgear, Protective Clothing, and Boots. The global body armor and personal protection market is expected to be dominated by the Soft Armor segment, followed by Protective Clothing and Hard Armor.
- The North American region is forecasted to dominate the global market with a share of 29.1%, and the Asia-Pacific market is lead by China, India, and Australia. Russia and the UK occupies a major market share in the European region.
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global body armor and personal protection marketover the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different body armor and personal protection segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global body armor and personal protection market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the global body armor and personal protection market
- 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
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