The Ballistic Protection Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ballistic Protection Global Market Report 2024, The ballistic protection market size has grown strongly in recent years. It will grow from $13.43 billion in 2023 to $14.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to military modernization programs, global conflict and terrorism, rise in law enforcement spending, focus on soldier survivability.
The ballistic protection market size is expected to see strong growth in the next few years. It will grow to $17.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising threats from asymmetric warfare, urban warfare preparedness, focus on comfort and mobility, cybersecurity integration, commercial applications. Major trends in the forecast period include technological integration, technological advancements in materials, material advancements, smart textiles and wearables, integration of energy-absorbing technologies, r&d in nanotechnolog.
Increasing terrorist activities are expected to propel the ballistic protection market going forward. Terrorist activities refer to actions taken or threats made with the purpose to advance a political, religious, or ideological cause or to coerce or influence the government through threats or intimidation. Ballistic protection allows one to safely and securely apprehend a suspect and provides protection from terrorist activities, so the rise in terrorist activities propels the market growth. For instance, in March 2022, according to ReliefWeb, a US-based humanitarian information portal, the global terrorist attacks increased by 17% to reach 5,226 terrorist attacks in 2021, and Sub-Saharan Africa accounted for 48% of global terrorism deaths. Therefore, the increasing terrorist activities are driving the ballistic protection market.
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The ballistic protection market covered in this report is segmented –
1) By Product Type: Personal Protection Equipment, Vehicle Protection Equipment
2) By Material: Aramid, Carbon Fiber Composites, Glass Fiber And Thermoplastic, Ceramic, Other Materials
3) By Platform: Land, Airborne, Marine
4) By Application: Defense, Homeland Security, Commercial, Other Applications
Top Major Players
Avon Protection plc .
BAE Systems PLC
DuPont de Nemours Inc.
Honeywell International Inc.
Point Blank Enterprises Inc.
Major companies operating in the ballistic protection market are developing innovative products such as Kevlar EXO to meet the increasing demand for advanced protection equipment. Kevlar EXO is a next-generation aramid fiber that offers an unmatched combination of protection, lightness, and flexibility. For instance, in April 2023, DuPont de Nemours, Inc., a US-based chemicals company launched Kevlar EXO. It is designed to provide peak flexibility and comfort, making it more comfortable for users to wear body armor vests made from it Kevlar EXO offers the highest ballistics performance among all aramid fibers, enabling the best-in-class, lightest weight ballistics soft armor solutions.
The ballistic protection market report table of contents includes:
1. Executive Summary
2. Ballistic Protection Market Characteristics
3. Ballistic Protection Market Trends And Strategies
4. Ballistic Protection Market – Macro Economic Scenario
5. Global Ballistic Protection Market Size and Growth
……………………….
31. Global Ballistic Protection Market Competitive Benchmarking
32. Global Ballistic Protection Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ballistic Protection Market
34. Ballistic Protection Market Future Outlook and Potential Analysis
35. Appendix
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