Global Body Armor Market – Industry Analysis and Forecast (2018-2026)
Global Body Armor Market was valued at US$ 1.68Bn 2017 and is expected to reach US$ 3.84Bn by 2026, at a CAGR of 4.27%during a forecast period.
Body Armor have seen tremendous increase by the police forces and, more recently, the military forces of various countries around the world are in higher demand for body armor.
Major driving factors of the Body Armor Market are ongoing soldier modernization programs implemented across various countries. Soldier safety is one of the most important priorities for any country’s defense agency, and countries are not willing to compromise on the safety of their soldiers. Enforcement bodies constantly need to upgrade the safety of their police forces due to increasing instances of riots and violence across various countries. Participants in the global aramid market have been focusing heavily on research and development activities to develop new products that meet the requirements of regulatory bodies and other organizations. Huge Cost of Investment and lack of Infrastructure will act as a restraint to the market.
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Based on the Type, Type 2 is expected to hold the largest share in the market during the forecast period. The level II body armor huge in demand for ideal protection of the council workforce, officers, and even civilians. It is enough protection to ensure that someone is able to withstand an assault without having to feel weighed down by the protection. The lightweight material makes it easy to be able to run or maneuver during stressful situations and will fit into the front and back of the carrier to provide ample protection from both angles. Rise in military warfare is dynamical the necessity for trajectory protection instrumentation for safeguarding the military personnel and growth factor for Level 2.
In Trends – Liquid armor
Technology is moving on, and military forces such as the UN Army are investigating completely new ways of keeping soldiers safe in the field. Liquid armor is that the leading huge price ticket item during this space, with corporations like BAE Systems wanting to use the technology to rising needs. Liquid armor could be a material that hardens terribly quickly once smitten by a projectile at speed, so as to soak up the impact energy. The materials offers increased protection with reduced mass, wider area coverage and greater wearer maneuverability, and can also be integrated with other systems, including being incorporated into standard Kevlar body armor.
In terms of region, North America is expected to hold the largest share in the market during the forecast period. North America, on account of its numerous survivability-based soldier modernization programs, is that the most vital marketplace for body armors. Moreover, the huge size of the U.S. army conjointly impacts the coat of mail market growth within the region absolutely. United States was the largest military spending nation in 2017, with a spending of USD 610 billion, which is an increase of 1.6% from FY 2016, representing 35% of the global military expenditure. In February 2018, US government proposed a defense budget of USD 716 billion for the fiscal year 2019.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Scope of the Report for Body Armor Market
Global Body Armor Market, By Type
• Type 1
• Type 2
• Type 2A
• Type 3
• Type 3A
• Type 4
Global Body Armor Market, By Material
• Alloys and Metals
• Ceramics
• UHMWPE
• Composite
• Others
Global Body Armor Market, By Application
• Defence
• Civilians
• Others
Global Body Armor Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Body Armor Market
• Point Blank Enterprises
• BAE Systems Plc., Inc.
• Australian Defence Apparel Pty Ltd
• MKU Pvt. Ltd.
• ArmorSource LLC
• KDH Defense Systems, Inc.
• Survitec Group Limited
• Sarkar Defense Solutions
• Safariland LLC
• Honeywell International, Inc.
• Elmon
• Wenzhou Start Co Ltd
• Realdream Electronics
• Dupont
• DHB Industries
• McGuckian
MAJOR TOC OF THE REPORT
Chapter One: Body Armor Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Body Armor Market Competition, by Players
Chapter Four: Global Body Armor Market Size by Regions
Chapter Five: North America Body Armor Revenue by Countries
Chapter Six: Europe Body Armor Revenue by Countries
Chapter Seven: Asia-Pacific Body Armor Revenue by Countries
Chapter Eight: South America Body Armor Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Body Armor by Countries
Chapter Ten: Global Body Armor Market Segment by Type
Chapter Eleven: Global Body Armor Market Segment by Application
Chapter Twelve: Global Body Armor Market Size Forecast (2019-2026)
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