Global Ballistic Protection Market Size 2024, Forecast To 2033
6 Mar, 2024
The ballistic protection market size has grown strongly in recent years. It will grow from $13.43 billion in 2023 to $14.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to military modernization programs, global conflict and terrorism, rise in law enforcement spending, focus on soldier survivability. The ballistic protection market size is expected to see strong growth in the next few years. It will grow to $17.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising threats from asymmetric warfare, urban warfare preparedness, focus on comfort and mobility, cybersecurity integration, commercial applications. Major trends in the forecast period include technological integration, technological advancements in materials, material advancements, smart textiles and wearables, integration of energy-absorbing technologies, R&D in nanotechnology.
Global Ballistic Protection Market Key Driver
Increasing terrorist activities are expected to propel the ballistic protection market going forward. Terrorist activities refer to actions taken or threats made with the purpose to advance a political, religious, or ideological cause or to coerce or influence the government through threats or intimidation. Ballistic protection allows one to safely and securely apprehend a suspect and provides protection from terrorist activities, so the rise in terrorist activities propels the market growth. For instance, in March 2022, according to ReliefWeb, a US-based humanitarian information portal, the global terrorist attacks increased by 17% to reach 5,226 terrorist attacks in 2021, and Sub-Saharan Africa accounted for 48% of global terrorism deaths. Therefore, the increasing terrorist activities are driving the ballistic protection market, with its market size in 2023 being global terrorist attacks increased by 17% to reach 5,226 terrorist attacks in 2021, and in 2024, Sub-Saharan Africa accounted for 48% of global terrorism deaths.
Get A Free Sample Of The Global Ballistic Protection Market ReportGlobal Ballistic Protection Market Segments
The ballistic protection market covered in this report 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
By Geography:The regions covered in the ballistic protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the ballistic protection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global ballistic protection market report during the forecast period. The regions covered in the ballistic protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Ballistic Protection Industry Players
Avon Protection plc ., BAE Systems plc, DuPont de Nemours Inc., Honeywell International Inc., Point Blank Enterprises Inc., Rheinmetall AG, Saab AB, Koninklijke Ten Cate BV, Teijin Limited, Survitec Group Limited, ArmorWorks Enterprises LLC, Revision Military Inc., ArmorSource LLC, Southern States LLC, MKU Limited, GENTEX Corporation, Tencate Advanced Armor, Ceradyne Inc., Craig International Ballistics Pty Ltd, EnGarde Body Armor, Safariland LLC, Blackhawk Industries Inc., Armor Express, Ballistic Body Armor Pty Ltd, BBI Detection, C.P.E. Production Oy, CQC Limited, DMS Group, Eagle Industries SAS, Hellweg International, HighCom Security Inc., International Armored Group
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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.