The global Body Armor Market size is expected to reach USD 3.53 billion by 2028, registering a CAGR of 5.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by the rising demand for defense protection equipment owing to the rise in asymmetric warfare in various countries, such as South Korea, Iraq, and India. The growing number of conflicts around the globe and violence, in general, has led to the significant demand for ballistic protection for the law, military enforcement agencies, and armored vehicles. This has further attributed to the rising demand for lightweight body armor protection.
The ever-increasing focus of defense agencies on
soldier survivability is driving the demand for body armor. The shortage of
ballistic protection suits and the rise in asymmetric warfare activities among
various countries worldwide are further accelerating industry growth. Besides,
vast developments in the field of nanotechnology are helping develop materials
and fibers that can make armor lightweight and more flexible, consecutively
driving industry growth. The emergence of armor based on advanced technologies,
such as dragon skin and liquid body armor, is also contributing to market
expansion. Moreover, the rising demand for body armor for civilian use has also
created several industry growth opportunities. The increased demand for body
armor among civilians can be attributed to the rise in crimes, burglaries, home
invasion, and similar activities; bulletproof vests are one of the most common
body armors used by civilians. CITIZEN ARMOR, a U.S.-based protection equipment
manufacturing company, offers ballistic plates for civilians. The relatively
low cost of steel plates has led to their re-emergence in the manufacturing of
body armors for civilian use in the American market. Besides, metal plates are
advantageous over ceramic plates since they can protect against multiple hits.
Modernization activities have created several
opportunities for industry participants, leading to alliances with military
agencies in a contractual environment. For instance, in July 2019, KDH Defense
Systems, a U.S.-based body armor manufacturer, received two separate delivery
orders worth USD 40 million from the U.S. Armed Forces. Emerging economies,
such as India and China, are increasingly focusing on replacing legacy military
equipment and increasing their defense budget. For instance, in May 2020, China
hiked its defense budget to USD 179 billion compared to USD 177.6 billion in
2019. However, it has been the lowest hike in recent years due to the
significant economic disruption caused by the novel coronavirus outbreak.
Related Press Release@ Body Armor Market Report
Body Armor Market Report
Highlights
- The high penetration of body armor in the defense sector can be
attributed to the emergence of modern military equipment and legacy
systems
- In the civilian application segment, the demand for body armor is
high, especially among people residing in crime-prone areas, jewelry store
owners, embassy personnel overseas, and executive protection personnel
- The level IV body armor plate segment is expected to expand at a
noticeable CAGR over the forecast period. This growth is attributable to
the fact that the introduction of the final version of NIJ (National
Institute of Justice) Standard 0101.07 is anticipated to improve the test
methods and the performance requirements for the ballistic resistance
levels
- The law enforcement protection application is expected to register
a noticeable CAGR over the forecast period since NIJ has been pivotal in
developing modern body armors for police officers
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