Thursday 12 October 2017, Amsterdam
According to this latest report, now available on ASDReports, ‘The Global Body Armor and Personal Protection Market is projected to grow at a CAGR of 4.11% over 2017-2027 to reach US$3.1 billion by 2027’.
The market consists of five categories: soft armor, hard armor, protective headgear, protective clothing, and boots.
‘During the forecast period, in 2027, the market is expected to be dominated by the soft armor segment, which is expected to account for 36% of the market, followed by hard armor and protective headgear respectively. Likewise, in 2027, the North American region is forecast to dominate the sector with a share of 32.2%, followed by Asia-Pacific and Europe.'
- Cross border disputes, more wars, an increase in terrorist activities, and modernization initiatives to drive the market
- Soldier Modernization programs are expected to drive the market
- Shifting focus towards lightweight body armor and personal protection equipment
- Joint programs to witness significant growth over the forecast period
- Liquid armor technology to provide better protection compared to conventional body armors
- Increased spending on Homeland Security to enhance the capabilities of personnel and special agencies
- Reduction in the weight of body armor and integrating the soldier components acts as a major challenge
- High unit costs of individual protective equipment acts as a hindrance
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