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Global Bullet Proof Vest Market Size was valued at USD 1.7 Billion in 2022. The Bullet Proof Vest market industry is projected to grow from USD 1.9 Billion in 2023 to USD 2.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.40% during the forecast period (2023 - 2032). Growing awareness of commercial security worldwide and increasing demand for lightweight body armor from end-use industries like defense, law enforcement, and civilians, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Rising demand for lightweight body armour from end-use industries like defence, law enforcement, and civilians is anticipated to boost industry expansion. The COVID-19 epidemic affected the global economy in every sector in 2020. As a result, the makers of this jacket encountered problems as well, which halted both production and sales. Bulletproof apparel production was negatively impacted by the temporary shutdown and standstill. As business security becomes a more pressing concern in the United States, the demand for bulletproof jackets is increasing. Additionally, as threats multiply, worries about security in industries like retail, healthcare, and transportation are growing swiftly. As a result, it is anticipated that demand for this product would grow over the predicted period of time. The rising defence budget spending made by the U.S. government are another element driving the bulletproof jacket industry. Additionally, in response to rising security concerns, the government is increasing the defence budget to strengthen security defences. The goal of bulletproof clothing is to shield the wearer from the harm that gunfire might do to internal organs. The jacket protects the wearer's body from projectile bullets and smaller explosive fragments. It is made by stacking polythene plates, ballistic plates made of metal or ceramic, and woven or laminated fibres. Another element increasing this product's demand globally is the rising awareness of worker safety. As threats increase, security concerns in industries including retail, healthcare, and transportation are rapidly growing. The rising amount of money that nations are investing in their militaries is another factor pushing the market for bulletproof clothing.
The increase in military spending by both developed and emerging countries is predicted to be the primary growth factor for the market. The Stockholm International Peace Research Institute (SIPRI) said that global military spending reached USD 1981 billion in 2020, an increase of 2.6% in real terms from 2019, in its 2021 report. The rise in terrorism and hostile actions among various countries in Asia-Pacific, Europe, the Middle East, and Africa is forcing these countries to focus on acquiring protection solutions for its dismounted infantry, which may propel the market's growth during the anticipated timeframe. Thus, driving the Bullet Proof Vest market revenue.
The global Bullet Proof Vest market segmentation, based on Protection Level, includes II, IIIA & IIIA+, III & III+, and IV. II segment dominated the global Bullet Proof Vest market in 2022. Level II body armour is permissible for use by council officers, citizens, and even council employees. It provides enough protection to let a person to endure an attack without feeling overloaded. Level IIIA and IIIA+ fall within the category of soft armour. The materials used to create the Level IIIA & IIIA+ and Level III choices differ. Level IIIA and IIIA+ body armour can also be used in conjunction with additional protective panels to offer the best protection. It is feasible to wear either type of body armour outside or inside.
The global Bullet Proof Vest market segmentation, based on Type, includes soft jacket and hard jacket. Soft jacket segment dominated the global market in 2022. The soft jacket shields security officers and soldiers from bombs, shotguns, and small-caliber handguns and is constructed of several layers of woven and laminated fibres. Soft coats frequently have ballistic plates.
The global Bullet Proof Vest market segmentation, based on End Use, includes defense, security & law enforcement, and civilians. Defense segment dominated the global market in 2022. This is due to recent increases in global military power and an exorbitant military spending. However, there is a greater demand for civilian and military protection as attacks, violence, and threats multiply globally. The demand for armoured gear in the defence sector will consequently increase.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Bullet Proof Vest Market dominated this market in 2022 (45.80%). This increase is attributed to the largest defence expenditure on modern body armour. The sole thing that the US spent USD 284.5 million on in 2019 was army body armour. Thanks to significant North American players like Honeywell International, Inc., DuPont, U.S. ARMOUR CORPORATION, Point Blank Enterprises, Inc., and others, the market for bulletproof vests is also predicted to expand. Further, In the North American area, the U.S. Bullet Proof Vest market had the biggest market share, while the Canada Bullet Proof Vest market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe, Bullet Proof Vest market accounted for the healthy market share in 2022. Improvements in jacket manufacturing processes and government funding programmes are to blame for this. These are the primary variables affecting the European market. In developing regions, growth should be moderate during the predicted term. A lack of funding efforts and cutting-edge technologies is to blame for this. Further, In the European region, the German Bullet Proof Vest market had the biggest market share, and the U.K. Bullet Proof Vest market had the quickest rate of growth.
The Asia Pacific Bullet Proof Vest market is expected to register significant growth from 2023 to 2032. This is because countries like China, India, and South Korea have a large number of active military and law enforcement personnel; as a result, it is projected that these countries will continue to spend the most on the procurement of bulletproof ballistic protection items during the projection period. The deterioration of current bulletproof vests and the escalating tensions along the region's borders are projected to drive market growth. Moreover, In the Asia-Pacific region, the Indian Bullet Proof Vest market had the quickest rate of growth while China's Bullet Proof Vest market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Bullet Proof Vest market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Bullet Proof Vest sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Bullet Proof Vest sector. Major players in the Bullet Proof Vest market, including Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd, are attempting to increase market demand by investing in research and development End Uses.
To identify environmental, social, and economic challenges and opportunities, seize those opportunities to have a long-lasting positive impact on people and the environment, and then build growth through sustainable, profitable expansion, is the mission of Royal DSM NV (DSM), a science-based company. Specialty plastics, fibre and resin products, nutritious lipids, carotenoids, vitamins, and other elements are produced by the company. The business manufactures materials for medical devices and renewable energy out of agricultural waste and biochemicals. The company's operations are tightly synchronised with those of its customers to facilitate the rapid development of important inventions grounded in science. The company has operations in Eastern Europe, Latin America, North America, Asia Pacific, and other regions. DSM is based in the Dutch province of Heerlen in the Limburg region. In April 2021, a deal was made to supply bulletproof vests to the Brazilian Sao Paulo police by the Dutch multinational company Royal DSM NV and MKU Ltd. Businesses employ ultra-high molecular weight polyethylene (UHMWPE) to enhance user comfort and mobility while also achieving new levels of performance and protection.
· Point Blank Solutions, Inc.
· Armor Express
· DuPont
· U.S. ARMOR CORPORATION
· EnGarde
· MKU LIMITED
· ARGUN s.r.o.
· Infidel Body Armor
· Seyntex N.V,
· MARS Armor
· VestGuard UK Ltd
· BulletSafe Bulletproof Vests
· COMPASS INTERNATIONAL CORP. LTD
· Canadian Armour Ltd
August 2021: The Queensland Government announced that it would supply integrated load-bearing vests (ILBV) to the Queensland Police Service (QPS). 12,200 new integrated load-bearing vests will replace the 4,750 ballistic plates and vests that are already in service starting in December 2021.
June 2021: Scientists from MIT and the California Institute of Technology recently disclosed that they have developed a nanoengineered substance that is more resilient than the steel or Kevlar bulletproof vests currently in use. The compound, which is made up of linked carbon "tetrakaidecahedrons," can resist the impact of extremely small projectiles.
April 2021: The Defence Materials and Stores Research and Development Establishment (DMSRDE) lab of the Defence Research and Development Organisation (DRDO) developed the thin Bullet Proof Jacket (BPJ). The 9 kilogramme bulletproof vest meets the Indian Army's requirements for quality.
· Soft Jacket
· Hard Jacket
· Defense
· Security & Law Enforcement
· Civilians
· II
· IIIA & IIIA+
· III & III+
· IV
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 1.7 Billion |
|
Market Size 2023 |
USD 1.9 Billion |
|
Market Size 2032 |
USD 2.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.40% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, End Use, Protection Level, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd |
|
Key Market Opportunities |
The use of composite materials |
|
Key Market Dynamics |
Rising demand for lightweight body armor from end-use industries such as defense, law enforcement, and civilians and growing awareness of commercial security across the globe |
The global Bullet Proof Vest Market was valued at USD 1.7 billion in 2022, and it is estimated to reach USD 2.6 billion by 2032.
The global market is projected to grow at a CAGR of 6.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd
The Soft Jacket Type dominated the market in 2022.
The Defense End Use had the largest share in the global market.
Report Code :
RL65129
Published on :
Sep 2023
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