The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global body armor market size is expected to reach USD 3.02 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.5% from 2018 to 2025. The evolution of warfare has largely become asymmetric in nature and includes counter-terrorism and counter-insurgency. Similar scenarios exist in the law enforcement sector, wherein felons, criminals, and law offenders can fatally injure responding officers. This necessitates demand for body armor equipment.
The growth in military warfare is propelling the need for improved ballistic protection equipment to safeguard the personnel and armed forces. Emerging economies such as India, South Korea, and China are persistently focusing on replacement of legacy military equipment and are subsequently increasing their defense spending. Modernization in the sector is anticipated to create growth opportunities for the body armor providers. They are also trying to gain a competitive edge by collaborating with different military agencies through contracts.
Technological advancements and innovations such as dragon skin and liquid body are projected to accelerate the market growth. Additionally, rising demand for modular tactical vests and double-sided combat uniforms, owing to their benefits such as enhanced protection and improved soldier survivability, is expected to further drive the body armor market.
Prominent manufacturers of personal protection suits are increasingly investing in R&D activities for the development of advanced fibers, fabrics, and nanotechnology materials to improve the effectiveness of body armors. The use of modular tactical vests is gaining momentum and these vests are rapidly replacing the conventional Outer Tactical Vests (OTVs) that limit a soldier’s efficiency of carrying additional assault loads such as magazines and grenades.
Further key findings from the report suggest:
- Law enforcement protection segment is expected to expand at the highest CAGR of 5.9% from 2018 to 2025 as compared to the defense and civilians segment. The demand is particularly high in U.S. owing to a significant rise in crime rates and incidents of mass shooting
- Type III segment accounted for more than 23% of market share in terms of revenue in 2017. These bodysuits offer better protection than other types and is suitable for full-time wear during warfare and combat situations
- North America accounted for the highest market share in terms of revenue in 2017. Government initiatives such as the U.S. Army Equipment Modernization Strategy and Soldier Protection System (SPS) are remarkably contributing to the regional growth
- Prominent players operating in the body armor market include Aegis Engineering Ltd.; AR500 Armor; BAE Systems; Ballistic Body Armor Pty; Craig International Ballistics Pty Ltd.; Ceradyne, Inc.; Hellweg International; Kejo Limited Company; Pacific Safety Products; Point Blank Enterprises, Inc.; and Safariland, LLC.