Ballistic Protection Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
19 Jun, 2023
The global ballistic protection market size is expected to grow from $12.60 billion in 2022 to $13.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.60%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The global ballistic protection market size is expected to reach $16.79 billion in 2027 at a CAGR of 5.75%.
Global Ballistic Protection Market Key Driver
Increased terrorist activity is projected to drive the ballistic protection market ahead. Terrorist activities are defined as actions or threats committed with the intent to advance a political, religious, or ideological cause or to force or influence the government through threats or intimidation. Ballistic protection enables for the safe and secure apprehending of a suspect as well as protection from terrorist actions, hence the rise in terrorist activities drives market growth.
Get a sample of the global ballistic protection market reportGlobal Ballistic Protection Market Segments
The global ballistic protection market is segmented:
1) By Product Type: Personal Protection Equipment, Vehicle Protection Equipment
2) By Material: Aramid, Carbon Fiber Composites, Glass Fiber And Thermoplastic, Ceramic, Other Materials
3) By Platform: Land, Airborne, Marine
4) By Application: Defense, Homeland Security, Commercial, Other Applications
5) By Geography: The regions covered in the ballistic protection market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global ballistic protection market.
Major Ballistic Protection Industry Players
Avon Protection, BAE Systems, DuPont, Honeywell International Inc., Point Blank Enterprises Inc., Rheinmetall AG, SAAB AB, Koninklijke Ten Cate BV, Teijin Limited, Survitec Group Limited., ArmorWorks, Revision Military, ArmorSource LLC, Southern States LLC, MKU Limited
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Ballistic Protection Market Overview
Ballistic protection refers to body armor that serves to protect against all types of assault or defense. It shields the body and eyes from threats of all sizes, shapes, and impact velocities.
Ballistic Protection Global Market Report 2023 provides data on the global ballistic protection market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ballistic protection market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.