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BEIJING, Dec. 22, 2022 (GLOBE NEWSWIRE) — The Global Body Armor Market Size accounted for USD 2,391 Million in 2021 and is estimated to achieve a market size of USD 4,135 Million by 2030 growing at a CAGR of 6.5% from 2022 to 2030.
Body Armor Market Statistics
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Body Armor Market Report Coverage:
|Market||Body Armor Market|
|Body Armor Market Size 2021||USD 2,391 Million|
|Body Armor Market Forecast 2030||USD 4,135 Million|
|Body Armor Market CAGR During 2022 – 2030||6.5%|
|Body Armor Market Analysis Period||2018 – 2030|
|Body Armor Market Base Year||2021|
|Body Armor Market Forecast Data||2022 – 2030|
|Segments Covered||By Level, By Revenue, By Material, By Product Type, By Style, And By Geography|
|Body Armor Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Point Blank Enterprises, Inc., Aegis Engineering Ltd., Ballistic Body Armor Pty, AR500 Armor, BAE Systems, Craig International Ballistics Pty Ltd., Kejo Limited Company, Ceradyne, Inc., Hellweg International, Pacific Safety Products, and Safariland, LLC.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Body Armor Market Overview
Body armor is typically defined as a protective covering capable of mitigating or blocking melee or ballistic assaults and defending the occupant. Body armor has become more prevalent in recent years, with armed guards, police officers, and other professionals using it to reduce major injuries and safeguard individuals from unexpected deadly attacks.
Body Armor Market Trends
The unpredictable combat situation around the world is a big reason driving the body armor market. Increased terrorist activity in nations like India, the United States, the United Kingdom, France, & China boosts the market for body armor. The growing emphasis on the safeguarding of military services is one of the key elements driving these estimates. Soldiers, police officers, and security guards wear body armor to defend themselves from gunshots or bullets.
Furthermore, technological innovation in order to provide new body armor products contributes to the global expansion of body armor. However, the growing demand for body armor is projected to be limited by lower military expenditure by nations such as the United States and the United Kingdom as a result of the recession’s aftereffects. Furthermore, the ongoing demand to supply lightweight body armor has led to the deterioration of body armor quality, which has been a serious concern for manufacturers. However, due to technical advancements in the fabrication of body armor using nanomaterials, body armor manufacturers have enormous potential opportunities over the projection period.
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Body Armor Market Segmentation
The global body armor market has been segmented by Acumen Research and Consulting based on level, application, material, product type, and style. By level, the segment is separated into Level I, Level IIA, Level II, Level IIIA, Level III, and Level IV. According to the body armor market forecast, the Level III category is predicted to develop significantly in the next years.
In terms of application, the market is categorized into defense, civilians, and law enforcement protection. Moreover, the market is split into steel, aramid, alumina, ceramic-metal composite, uhmwpe, composite ceramic, silicon carbide, and boron carbide, based on the material. On the basis of style, the industry has been segmented as covert, and overt.
In terms of product type, the market has been bifurcated as soft armor (plates & inserts and shields), hard armor (plates & inserts and shields) and accessories (plates & inserts and shields). Since soft body armor is lighter than hard body armor, it is expected to expand at the fastest rate during the projected period. Furthermore, soft body armor provides flexibility, allowing combatants or guardians to move more freely on the battlefield.
Body Armor Market Regional Overview
Based on the region, the worldwide body armor market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to a body armor industry analysis, Asia-Pacific would be the most appealing market during the forecast period. This rise is due to an increase in terrorist strikes in nations such as China, Pakistan, India, and Singapore. The growing spending of the governments of China and India on their military sectors to secure the well-being of armed soldiers also contributes to the expansion of body armor.
Along these trends, North America is predicted to grow rapidly in the market for body armor in the coming years, owing to the region’s government’s increased emphasis on the safeguarding of the defense sphere.
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Body Armor Market Players
Some of the prominent body armor market companies are Point Blank Enterprises, Inc., Ballistic Body Armor Pty, BAE Systems, Kejo Limited Company, Hellweg International, Ceradyne, Inc., Pacific Safety Products, Aegis Engineering Ltd., AR500 Armor, Craig International Ballistics Pty Ltd., and Safariland, LLC. To gain a strong footprint in the global market, most of the leading companies have employed strategies that include new product introduction and growth.
Questions Answered By This Report
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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting