Ballistic Protective Equipment Market to Reach USD 8.92 Billion by 2032; Growing Concerns for Enhancing Army Survival to Propel Growth: The Brainy Insights
The rise in terrorist attacks and the demand for ballistic protection among civilians and law enforcement officials worldwide contribute to the market’s expansion. North America region emerged as the most significant global ballistic protective equipment market, with a 36.73% market revenue share in 2022.
Newark, Sept. 04, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4.82 Billion in 2022 ballistic protective equipment market will reach USD 8.92 Billion by 2032. Increasing concerns about boosting military endurance are predicted to be the main factor driving market expansion. Market expansion is also predicted to be supported by additional factors such as increased government competition to demonstrate strength and expanding defence spending due to growing regional economies. Additionally, it is anticipated that during the projected period, increasing technological innovation will keep fueling customer desire for cutting-edge products and gadgets, promoting market expansion.
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Key Insight of the Ballistic Protective Equipment Market
Asia-Pacific is anticipated to expand at the highest CAGR of 9.73% over the projection period.
Asia-Pacific is expected to grow at the highest CAGR of 9.73% over the forecast period. Over the predicted period, the threat of terrorist attacks, extremist organisations, and people endorsing ISIL and terrorists from Iraq and Syria are expected to increase demand for ballistic protective equipment. China, Japan, India, and Australia are significant countries in the market in the Asia Pacific region. The Australian government has taken significant measures to combat terrorism, including increasing funding for intelligence agencies, enhancing access to communications data, and increasing spending on personal protective equipment, fueling the market.
The UHMWPE segment is expected to register the highest CAGR of 8.21% over the projected period in the ballistic protective equipment market.
The UHMWPE segment is anticipated to grow at the highest CAGR of 8.21% in the ballistic protective equipment market. Due to its extremely high impact strength and outstanding stab resistance, the completed products are primarily employed in the defence sector to provide human protection and tactical armor wear. During the projection period, the segment’s growth is anticipated to be primarily driven by its excellent mechanical qualities, which reduce the time needed for material moulding and cutting, enabling quicker manufacture on short delivery schedules.
Over the projected period, the hard armor segment is expected to register the highest CAGR of 7.74% in the ballistic protective equipment market.
Over the forecasted period, the hard armor segment is anticipated to grow at the highest CAGR of 7.74% in the ballistic protective equipment market. Hard armor is anticipated to account for the largest share, mainly due to the increased demand for body armor and other personal protection over the subsequent years. Throughout the projection period, the demand for hard armor will be predicted to expand as law enforcement and military sectors upgrade their armor and ammunition inventories to combat domestic crime and terrorism.
Over the projected period, the law enforcement & security segment is expected to register the highest CAGR of 8.54% in the ballistic protective equipment market.
Over the forecasted period, the law enforcement & security segment is anticipated to grow at the highest CAGR of 8.54% in the ballistic protective equipment market. It can be associated with the rising use of adequate bulletproof gear like shields, body armor, and helmets to prevent riots and social disturbances.
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Driver: Increased terrorist activity and rising usage of lightweight composite materials
Due to border disputes and a rise in terrorist attacks, armed services must purchase ballistic equipment to safeguard the security of military personnel. Composite ballistic protection armor is lighter than metal ballistic protection armor. Composite armor is stronger than other types of ballistic protection armor despite being more expensive. Government laws and policies have established who is responsible for dangerous incidents and occurrences at locations. As a result, it became crucial to establish personal protection gear and attire as the norm and standard in the field.
Restraint: High costs
The bulky weight and high price of ballistic armor are two crucial factors that are anticipated to restrain the growth of the global market.
Opportunity: Technological development
Flexible, lightweight, and thin protective gear has become possible because of technological advancements in ballistic protective equipment. Recent advancements in raw materials, such as ultra-high molecular weight polyethylene (UHMWPE) in ballistic products, are also expected to boost the global market for ballistic protective equipment. Manufacturers are compelled to make their ballistic items lighter by employing better raw materials and developing breathable armor as the market for lightweight equipment expands. For those working in this field, this is anticipated to create new investment opportunities.
Challenge: The infrastructure for manufacturing is related to a high primary rate
The high primary rate associated with manufacturing infrastructure is expected to challenge the market for ballistic protective equipment.
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Some of the major players operating in the ballistic protective equipment market are:
• Honeywell International, Inc.
• Rheinmetall AG
• Morgan Advanced Materials
• Craig International Ballistics
• Verseidag-Indutex GmbH
• Tactical Assault Gear (TAG)
• MKU Limited
• Mars Armor
• Vista Outdoor, Inc.
• Safariland, LLC
• Armor Wear
• Seyntex N.V.
• Point Blank Enterprise, Inc.
• Survitec Group Ltd.
• Hellweg International Pty. Ltd.
• Paul Boyé Technologies
• CQC Ltd.
• Safe Life Defense
• ArmorSource LLC
• BAE Systems, Plc
• Mehler Vario System
Key Segments cover in the market:
By Raw Material:
• Soft Armor
• Head Protection
• Hard Armor
• Law Enforcement & Security
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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