Global Ballistic Protection Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Ballistic Protection Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global ballistic protection market report has been segmented on the basis of type, application, and region.
Global Ballistic Protection Market: Overview
Ballistic protection offers protection against penetration of projectile with various velocities, shapes, and sizes. Commonly, it is used by general security personnel, law enforcement personnel, and soldiers. Material that is used for making ballistic protection is selected on its ability to absorb energy as well as speed and efficiency of transferring that energy.
Global Ballistic Protection Market: Dynamics
High adoption of ballistic protection to improve the survivability of soldiers is a key factor driving growth of the global ballistic protection market. In addition, growing defence budget among emerging economies is another factor supporting growth of the global market. Increasing demand for technologically advanced equipment and raising awareness regarding commercial security are also factors propelling growth of the target market. Furthermore, increasing research and development for making armor more lightweight is a factor expected to augment growth of the global ballistic protection market in the near future.
However, the high cost of ballistic protection equipment is a factor that may hamper growth of the global ballistic protection market. Additionally, ballistic protection with high weight reduces mobility is a challenging factor that could affect its demand among end users. Nevertheless, growing adoption of lightweight body armors can create high revenue opportunities for players in the target market.
Global Ballistic Protection Market: Segment Analysis
Among the type segments, the personal protective equipment segment is expected to register lucrative growth in terms of revenue in the near future. Personal protective equipment is designed to provide protection against bio, heat, electrical, chemical, and physical hazards. It includes protective goggles, helpmates, clothing, etc. For manufacturing protective equipment or gear different materials such as glass, Kevlar, Lexan, fiber, and aramid are used. Soft armor sub-segment of personal protective equipment is expected to register high growth in terms of revenue over the forecast period.
Global Ballistic Protection Market: Regional Analysis
Currently, the market in North America accounts for major share in terms of revenue and is anticipated to maintain its dominance over the forecast period. High military budget and the presence of key players are factors supporting growth of the target market in countries such as the US and Canada in this region. In addition, increasing demand for armor for commercial vehicles is another factor expected to fuel growth of the balletic protection market in North America. Europe accounts for the second-highest revenue share in the global market. However, defense budget cuts, owing to the economic crisis in countries in this region could affect growth of the target market.
Market in Asia Pacific is anticipated to register lucrative growth in terms of revenue in the near future, followed by Middle East & Africa and Latin America. Increasing military budget in countries such as China and India and the adoption of logistical support equipment are factors driving growth of the ballistic protection market in the Asia Pacific.
Global Ballistic Protection Market Segmentation:
Segmentation by Type:
- Vehicle Armor
- Personal Protective Equipment
- Protective Headgear
- Hard Armor
- Soft Armor
Segmentation by Application:
- Homeland Security
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BAE Systems PLC
- Teijin Limited
- Honeywell International, Inc.
- I. du Pont de Nemours and Company
- Rheinmetall AG
- Koninklijke Ten Cate NV
- Point Blank Enterprises, Inc.
- Morgan Advanced Materials PLC
- Survitec Group Limited
- Australian Defence Apparel Pty Ltd.
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