The global ballistic protection market is expected to reach an estimated $9.0 billion by 2022 and is forecast to grow at a CAGR of 3.5% from 2017 to 2022.
The future of the global ballistic protection market looks good with opportunities in the defense, commercial, and homeland security market. The major drivers of growth for this market are increasing defense budget in developing countries and increasing terror activities leading to growth in demand for ballistic protection equipment.
Emerging trends, which have a direct impact on the dynamics of the industry, include increase in protection level though advancements of armors and increase in usage of lightweight materials.
Ballistic protection companies profiled in this market report include BAE Systems PLC, Point Blank Enterprises, Rheinmetall AG, Royal TenCate, and Ceradyne, Inc.
On the basis of its comprehensive research, the author forecasts that body armor segment is expected to show above average growth during the forecast period.
Within the global ballistic protection market, defense segment is expected to remain the largest segment. Increasing defense budgets in the Asian region and upgradation of equipment in North America are the major drivers, which would spur growth for this segment over the forecast period.
North America is expected to remain the largest region during the forecast period due to highest procurement of military vehicles and body armors in this region.
The study includes a forecast for the global ballistic protection market by type, subtype (body armor), end-use, and region as follows:
Ballistic protection market by type (Value ($ million) from 2011 to 2022):
- Body Armor - Vehicle Armor
Ballistic protection market by Subtype (Body Armor) (Value ($ million) for 2016):
- Soft body armor - Hard body armor - Protective headgear
Ballistic protection market by End-Use (Value ($ million) from 2011 to 2022):
- Defense - Homeland Security - Commercial
Key Topics Covered:
1. Executive Summary 2. Global Ballistic Protection Market Dynamics 3. Market Trends and Forecast Analysis from 2011 to 2022 4. Market Trends and Forecast Analysis by Region 5. Competitor Analysis 6. Cost Structure Analysis 7. Growth Opportunities and Strategic Analysis 8. Company Profiles of Leading Players