Global Ballistic Protection Market: Global Industry Analysis and Forecast (2019-2027)
Global Ballistic Protection Market was valued US$ 9.97 Bn in 2019 and is expected to reach 13.50 Bn by 2027, at a CAGR of 4.42 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Ballistic protection materials are used to manufacture several protective types of equipment which includes helmets, body armors, armors for vehicles, etc.
Growing incidents of terrorism and Naxalite movements across the globe is one of the key drivers in the global ballistic protection market. Ballistic protection includes defense equipment which is used by the soldier to protect themselves against the bullets, which may be launched from a firearm or an explosive device. The most generally used forms of ballistic protection are the bulletproof vest and bulletproof vehicles. The requirement for ballistic protection has been growing across the globe with the increase in the threat of domestic and cross-border terrorism.
On the other hand, strict regulations against volatile organic compounds emission across different industries, enforced by different international and national regulatory bodies are some of the restraint factors behind the growth of global ballistic protection market.
Based on the material, aramid fiber segment is expected to witness significant growth during forecast period . Aramid fibers are synthetic high-performance fibers with molecules, which are characterized by rigid polymer chains. Aramid fibers offer features like good resistance to organic solvents, low flammability, high strength, and non-conductivity, resistance to abrasion, no melting point, and good fabric integrity at high temperatures. Growing demand for personal protective equipment in the U.S. is expected to propel global ballistic protection market growth.
The defense sector is projected to lead the global ballistic securities market. Growing national conflicts across the globe are expected to increase demand for the defense sector. The soft armor is the most preferred type of ballistic protection equipment. With growing soft armor demand, key companies are opting for new and light materials to control the challenges of the ballistic protection market. Furthermore, vehicular armors also considerably contribute to the ballistic protection market. It has an excellent capability to withstand high piercing ballistic impact.
North America is expected to hold significant growth during forcast period . The growth in the market can be attributed to the activities involvement of the U.S. military in Middle Eastern conflicts and increasing threats from terrorism. Rising internal and external security threats and increasing demand for ballistic protection from army personnel, homeland security, and commercial sectors are some of the factors behind the growth in this region. Growing pressure on the U.S. government to endure itself as a military superpower is also estimated to drive the regional ballistic protection market. Furthermore, Asia Pacific is expected to witness substantial growth owing to the hostile political relations in South Asian countries like China, India, Pakistan, and Bangladesh. Growing military spending by China and India as part of their geopolitical strategies is projected to further complement regional growth.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global ballistic protection market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global ballistic protection market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of the Report for Global Ballistic Protection Market: Inquire before buying
Global Ballistic Protection Market, By Type
• Personal Protective Equipment (PPE)
o Soft Armor
o Hard Armor
o Protective Headgear
• Vehicle Armor
Global Ballistic Protection Market, By Application
• Homeland Security
Global Ballistic Protection Market, By Material
• Aramid Fiber
Global Ballistic Protection Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Ballistic Protection Market
• Honeywell International Inc.
• FY-Composites Oy
• BAE Systems
• Koninklijke Ten Cate NV.
• Morgan Advanced Materials plc.
• ArmorSource LLC
• Ceradyne, Inc.
• Rheinmetall AG
• Teijin Limited
• E.L. Du pont DE Nemours & Co
• Point Blank Enterprises
• 3M Company
• Australian Defence Apparel Pty Ltd.
• Survitec Group Limited
• Armorworks Enterprises, LLC.
• Eagle Industries
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