The global bulletproof vests market size is expected to grow from $1.38 billion in 2021 to $1.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.74%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The bulletproof vest market is expected to reach $1.80 billion in 2026 at a CAGR of 5.74%.
What is the Global Bulletproof Vest Market?
The bulletproof vest market consists of sales of bulletproof vests by entities (organizations, sole traders, and partnerships) that refer to a set of protective coverings worn by individuals to protect the torso against bullets, knives and bomb explosions. Bulletproof vests absorb the impact and reduce or completely stop the penetration of the attack, and any fragments from various explosions. These are generally made by layering woven or laminated fibers, with metal ballistic plates or ceramic inserted.
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What drives the Global Bulletproof Vest Market?
The growth in military expenditure of developed and emerging countries is significantly contributing to the growth of the bulletproof vest market. It is mainly due to an increase in military expenditure, which has further propelled the large-scale procurement of bulletproof vests for the armed forces. Therefore, the growth in military expenditure is driving the growth of the bulletproof vest market.
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Global Bulletproof Vest Market Segments
The global bulletproof vest market is segmented:
By Type: Soft Vest, Hard Vest
By Material: Kelvar, Ultra High Molecular Weight Polyethylene, Graphene
By End-User: Military, Law Enforcement
By Application: Covert, Overt
By Geography: The regions covered in the bulletproof vest market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Bulletproof Vest Global Market Report 2022 provides market size and growth forecasts for the global bulletproof vest market, global bulletproof vest market share, bulletproof vest market segments and geographies, bulletproof vest market competitive landscape including leading competitors’ revenues, profiles and market shares. The bulletproof vest market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Bulletproof Vest Industry Players include Wenzhou Start Co Ltd, VestGuard UK, U.S. Armor Corporation, Point blank enterprise, MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International, EnGarde, DuPont, Armourshield Ltd, Armour express, Central Lake Armor Express, Compass International Corp and Condor Outdoor Product Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
