The Bulletproof vest global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bulletproof Vest Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The bulletproof vest market size has grown strongly in recent years. It will grow from $1.64 in 2023 to $1.79 in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to rise in crime rates, geopolitical conflicts, military modernization, government regulations and mandates, population growth.
The bulletproof vest market size is expected to see strong growth in the next few years. It will grow to $2.51 in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing concerns about personal safety and security, rising defense spending, expanding civilian markets, increasing urbanization. Major trends in the forecast period include smart armor integration, sustainability and eco-friendly materials, lightweight and flexible designs, multi-threat protection, body-worn cameras.
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Scope Of Bulletproof Vest Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bulletproof Vest Market Overview
Market Drivers –
The growth in military expenditure of developed and emerging countries is significantly contributing to the growth of the bulletproof vest market. It is mainly due to an increase in military expenditure, which has further propelled the large-scale procurement of bulletproof vests for the armed forces. According to Stockholm international peace research institute (SIPRI), the expenditure on the military in the world has raised to almost $2 trillion in 2020, which is an increase of 2.6% from 2019. Therefore, the growth in military expenditure is driving the growth of the bulletproof vest market.
Market Trends –
Innovative product development is a key trend gaining popularity in the bulletproof vest market. Companies manufacturing bulletproof vests are developing new products and undergoing various collaborations to improve the services that are provided. India-based DRDO (Defense Research and Development Organization) developed a lightweight bulletproof jacket, which would weigh around 9kgs, and meet the qualitative requirements for army people. The indigenous technology that is used in this jacket would reduce its weight from 10.4 kg to 9 kg.
The Bulletproof vest market covered in this report is segmented –
1) By Type: Soft Vest, Hard Vest
2) By Material: Kelvar, Ultra High Molecular Weight Polyethylene, Graphene
3) By Application: Covert, Overt
4) By End User: Military, Law Enforcement
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Regional Insights –
Asia-Pacific was the largest region in the bulletproof vest market in 2023. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the Bulletproof vest market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the Bulletproof vest market include Wenzhou Start Co Ltd, VestGuard UK Limited, U.S. Armor Corporation, Point Blank Enterprises Inc., MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International Inc., EnGarde LLC, E. I. du Pont de Nemours and Company, Armourshield Ltd, Armor Express Inc., Central Lake Armor Express Inc., Compass International Corp, Condor Outdoor Products Inc., White Horse Research and Development Inc., Renco Corporation, Tex Tech Industries Inc., SAE International, Canadian Armour Ltd, SafeVest LLC, AAM Armor LLC, AA Shield Ltd., Ace Link Armor Inc., Adept Armor LLC, Alpine Armoring Inc., American Body Armor and Equipment Inc., Angel Armor LLC, Anorak Hellas Ltd., ARGUS Armour Inc.
Table of Contents
- Executive Summary
- Bulletproof Vest Market Report Structure
- Bulletproof Vest Market Trends And Strategies
- Bulletproof Vest Market – Macro Economic Scenario
- Bulletproof Vest Market Size And Growth
…..
- Bulletproof Vest Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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