DUBLIN, June 13, 2023 /PRNewswire/ — The “Bulletproof Vest Market Share, Size, Trends, Industry Analysis Report, By Type, By End-Use, By Protection level, By Material, By Region, Segment Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The global bulletproof vest market size is expected to reach USD 2,232.34 million by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Companies and governments are making investments in the creation of advanced light vests with greater mobility that incorporate cutting-edge technologies like 3D printing and composite materials, which is anticipated to open up new market opportunities for producers of bulletproof vests over the forecast period.
For instance, in December 2022, the Indian Army, which has been on heightened alert on the Northern borders as the tension endures, is launching a new attempt to purchase bulletproof jackets, deterring innovators and start-ups due to a shortage of such garments. Under emergency budgetary authority granted by the government, the Indian Army is looking to purchase more than 15,000 bulletproof jackets. Still, it has set restrictions that only established players can compete.
Additionally, the production of vests using nanotechnology materials, including titanium plating, para-aramid cloth, and other materials, will increase product penetration in the defense sector. In July 2021, Mishra Dhatu Nigam Limited (MIDHANI), a public sector enterprise under the Ministry of Defence that specializes in processing metals and metal alloys, is obtaining ready to complete commission of two new production lines, which included the 550 crores special steel, titanium, and nickel aluminum sheet and plate-making plant at Kanchanbagh.
It will begin production of armored vehicle ownership and bulletproof jackets for the armed services in the second 60 crore rupee facility in Rohtak, Haryana. Additionally, the development of modular tactical vests and several military modernization initiatives, such as PONARS Eurasia, are some trends aiding market progress. Therefore, these investments in manufacturing facilities supported by the government are bolstering the production of advanced bulletproof jackets that drive the market’s growth over the anticipated period.
Furthermore, the industry is expanding due to military forces purchasing more guns and spending more on body armor to protect personnel. The demand for ballistic protective systems is increasing due to rising territorial disputes and international conflicts. Following this, developed and emerging nations increased their spending on defense modernization while shifting their attention to cutting-edge military gear.
The Chinese People’s Liberation Army (PLA) announced in 2020 that it would buy approximately 1.4 million high-quality body armor during the following two years. The other major drivers of the bulletproof vest market growth include booming expenditures in product innovation and advancement and protecting the workers from the frivolities of conflict.
Companies Mentioned
ARGUN s.r.o.
Armor Express Ltd
Bullet Safe Bulletproof Vests
Condor Outdoor Product Inc.
COMPASS INTERNATIONAL CORP. LTD
DuPont de Nemours Inc.
Central Lake Armor Express Inc.
Canadian Armor Pvt Ltd
ELMON SA
EnGarde B.V.
Hawk Armor Protection & Safety Solutions Pvt. Ltd.
Honeywell International Inc.
Infidel Body Armor Ltd
MARS Armor
MKU LIMITED
Point Blank Enterprises
Seyntex NV
Safari land pvt ltd
U.S. Armor Corporation
VestGuard UK Pvt Ltd.
Bulletproof Vest Market Report Highlights
The security and law enforcement segment is anticipated to grow at a fastest CAGR over the forecast period. The segment’s expansion can also be attributable to rising demand from users in the military and law enforcement.
The Level IIA segment accounted for significant global revenue share. The market is expanding because it is the lightest, coziest, most flexible, and easiest to conceal product available.
North America is expected to grow at a considerable CAGR over the projected period. The regional market growth trends will be driven by several military modernization programs.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Bulletproof Vest Market Insights
4.1. Bulletproof Vest – Industry Snapshot
4.2. Bulletproof Vest Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increasing demand for soft bulletproof jacket
4.2.1.2. Growth and expansion of the military sector
4.2.2. Restraints and Challenges
4.2.2.1. High cost associated with bulletproof jacket
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Bulletproof Vest Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Bulletproof Vest Market, by Protection Level
5.1. Key Findings
5.2. Introduction
5.2.1. Global Bulletproof Vest Market, by Protection Level, 2019-2032 (USD Million)
5.3. II
5.3.1. Global Bulletproof Vest Market, by II, by Region, 2019-2032 (USD Million)
5.4. IIIA & IIIA+
5.4.1. Global Bulletproof Vest Market, by IIIA & IIIA+, by Region, 2019-2032 (USD Million)
5.5. III & III+
5.5.1. Global Bulletproof Vest Market, by III & III+, by Region, 2019-2032 (USD Million)
5.6. IV
5.6.1. Global Bulletproof Vest Market, by IV, by Region, 2019-2032 (USD Million)
6. Global Bulletproof Vest Market, by Material
6.1. Key Findings
6.2. Introduction
6.2.1. Global Bulletproof Vest Market, by Material, 2019-2032 (USD Million)
6.3. Kevlar
6.3.1. Global Bulletproof Vest Market, by Kevlar, by Region, 2019-2032 (USD Million)
6.4. Ultra-High Molecular Weight Polyethylene (UHMWPE)
6.4.1. Global Bulletproof Vest Market, by Ultra-High Molecular Weight Polyethylene (UHMWPE), by Region, 2019-2032 (USD Million)
6.5. Graphene
6.5.1. Global Bulletproof Vest Market, by Graphene, by Region, 2019-2032 (USD Million)
7. Global Bulletproof Vest Market, by End-use
7.1. Key Findings
7.2. Introduction
7.2.1. Global Bulletproof Vest Market, by End-use, 2019-2032 (USD Million)
7.3. Defense
7.3.1. Global Bulletproof Vest Market, by Defense, by Region, 2019-2032 (USD Million)
7.4. Security
7.4.1. Global Bulletproof Vest Market, by Security, by Region, 2019-2032 (USD Million)
7.5. Law Enforcement
7.5.1. Global Bulletproof Vest Market, by Law Enforcement, by Region, 2019-2032 (USD Million)
7.6. Civilians
7.6.1. Global Bulletproof Vest Market, by Civilians, by Region, 2019-2032 (USD Million)
8. Global Bulletproof Vest Market, by Type
8.1. Key Findings
8.2. Introduction
8.2.1. Global Bulletproof Vest Market, by Type, 2019-2032 (USD Million)
8.3. Soft jacket
8.3.1. Global Bulletproof Vest Market, by Soft jacket, by Region, 2019-2032 (USD Million)
8.4. Hard jacket
8.4.1. Global Bulletproof Vest Market, by Hard jacket, by Region, 2019-2032 (USD Million)
8.5. Others
8.5.1. Global Bulletproof Vest Market, by Others, by Region, 2019-2032 (USD Million)
9. Global Bulletproof Vest Market, by Geography
10. Competitive Landscape
10.1. Expansion and Acquisition Analysis
10.1.1. Expansion
10.1.2. Acquisitions
10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/taerqn
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets