ALBANY, New York, July 5, 2019 /PRNewswire/ -- A number of players in the global body armor market are putting emphasis of constant advances in materials used for body armor in a bid to consolidate their positions, observes Transparency Market Research. They are focusing on unveiling technologically-advanced products to meet the various end-users' needs in the body armor market. Top players are making research funding on testing new ceramic materials for body armor so that their products can be used to meet range of applications, notes TMR.
Some of the prominent names in the global body armor market are U.S. Armor Corporation, Du Pont (E.I.) De Nemours., Safariland, LLC, MKU Pvt. Ltd., Survitec Group Limited, ArmorSource LLC, and BAE Systems, Inc.
The global body armor market was worth around US$2.3 bn in 2018 vis-à-vis sales. Registering a promising CAGR of 4% from 2019 to 2027, the market is projected to reach worth of US$3.2 bn by 2027-end.
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- Sizable Military Funding Spur Demand from Defense Sector
Among the various applications, the defense sector attracted majority of demand estimated at 80% in the global body armor market. The demand from the segment is likely to be prominent in the coming years as well, fueled in large part by substantial military funding especially in developed nations.
- Providers Aim at Developed Markets of North America
On the regional front, North America is expected to be potentially attractive market for body armor, emerging at CAGR exceeding 4% between 2019 and 2027. Revenues generation in the regional market are driven by constant modernization of the defense systems and sizable federal funding in countries such as the U.S.
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Development of High-Performance, Light-Weight Vests bolstering Prospects
- High Functionality and Low Cost Key Propositions
Body armor is becoming a crucial part of protective equipment for personnel in the defense sector, law enforcement agencies, and civilian agents. Considerable progress has been witnessed in the global body armor market from the advent of high-performance, light-weight vests for better safety of the wearer. Manufacturers are increasingly instrumental in developing body armor with high functionality and low cost. To this end, they are incorporating high-end composite materials characterized by high strength-to-weight ratios that can be used in high-caliber ammunition.
- Advent of High-performing Ceramics Boosting Market
The body armor market has seen new avenues in the advent of high-performing materials such as ultra-high molecular weight polyethylene (UHMWPE) and aramid. The growing use of materials that are lightweight and can absorb large amounts of energy of the bullets fired is boosting the body armor market.
A range of fibers has come to the fore for bulletproof material as a result of extensive research and development efforts of players in the body armor market. Some of the most promising candidates are carbon nanotubes and fibers such as Kevlar. Durability, comfort, and cost are the key propositions for providers of body armor.
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Growing Worldwide Terror Threats and Firearm-Related Crimes to spur Demand
Demand for Anti-Ballistic Vests for Military Operatives to rise
Growing demand for wide range of anti-ballistic vests for military operatives in developed nations is expected to fuel the sales in the body armor market. The global body armor market is witnessing sizable demand potential from the growing numbers of firearm-related crimes in developed countries over the past few years. Moreover, a growing threat of terrorist attacks world over is catalyzing the demand for body armor.
Growing Spending on Defense Modernization Bodes Well
Swelling military spending in developing nations has also spurred the demand for high-functional body armor. Growing popularity of modular body armor is accentuating the prospects of the body armor market. Further, first responders and civilians in developing and developed regions are increasingly demanding body armor.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Body Armor Market (Type - Level II-A, Level II, Level III-A, Level III, and Level IV; Material - Steel, UHMPWPE, Aramid, and Composite Ceramics (Boron Carbide, Silicon Carbide, and Aluminum Oxide); and Application - Defense, Law Enforcement, and Civilians) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027".
The body armor market is segmented based on:
- Level II-A
- Level II
- Level III-A
- Level III
- Level IV
- Composite Ceramics
- Boron Carbide
- Silicon Carbide
- Aluminum Oxide
- Law Enforcement
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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