Published Date : 05 May 2023
The body armor industry size will increase to approximately USD 5.2 billion by 2032, compared to USD 2.95 billion in 2022, with an estimated compound annual growth rate (CAGR) of 5.84% from 2023 to 2032. The creation of light raw materials is impressively driving industry expansion.
Market Growth:
Lightweight ballistic composites have been used for three decades to shield law enforcement and security personnel from handgun attacks while providing defense against a range of ballistic threats during minor and big military confrontations. High-performance ballistic fibers paired with a polymer matrix make up the lightweight fiber-reinforced ballistic composites. One of the most popular pieces of protective gear used by police officers is body armor. Most of the body armor and helmets used by police enforcement are built to counter threats from handguns.
Purchasing helmets for police is not as prevalent as purchasing body armor, yet both requirements must be satisfied. Law enforcement only buys a small amount of body armor with breast plates to protect against rifle shots. These lightweight uniforms may be worn with other goods, such as winter uniforms, coats, and load carriers, and they are fire-resistant. Because of the advantages of lighter materials, there is a growing need for lighter armor. Over the anticipated time frame, this is anticipated to promote industry growth.
Body Armor Industry Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 3.12 Billion |
| Projected Forecast Revenue in 2032 | USD 5.2 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.84% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Regional Analysis:
In particular on the Indo-China border, the geopolitical situation in the Asia-Pacific has made the region a hotbed for unheard-of skirmishes and military standoffs. The adoption of sufficient body armor is also required due to the vast number of countries with active military forces. At the same time, cyclical demand is also created by the wear and tear of such equipment.
The United States contributed a large portion of the revenue. To counter the aggression of its strategic adversaries like China and Russia, the United States has increased its military budget. Additionally, the U.S. has actively offered military assistance to Ukraine in its conflict with Russia as a result of increased demand for armor in the coming months.
The extra funding is intended to upgrade the military with weaponry and personal safety measures. NATO receives a portion of the defense budgets of European countries including Germany, France, and Italy, which will increase demand for this commodity throughout the predicted time.
Market Dynamics:
Drivers:
Lightweight body armor fuel the industry growth
Over the following ten years, the size of the worldwide body armor industry is anticipated to grow. Security firms and police departments in the private sector strongly want the technology. These consumers' demand for more sophisticated lightweight body armor will fuel the industry's growth. In order to afford protective gear, a number of nations are raising their military expenditures. Vendors are also investing in body armor systems that include light, cutting-edge body suits. Composite ceramics are predicted to dominate the industry among certain materials. In comparison to other materials, they offer superior performance and ballistic efficiency. Furthermore, their lightweight qualities provide users flexibility, which is advantageous in battle situations.
Restraints:
Heavyweight body armor hindering the industry
The main issue impeding industry expansion is body armor weight optimization. When body armor is used in conjunction with tools like optics, radios, and ammunition, its significance is increased even more. The wearer's flexibility, efficiency, and mobility are all hampered by the additional weight of these gadgets added to the bulky armor. The three regulatory organizations that assess the body armor standard are the National Institute of Justice (NIJ), Underwriters Laboratories (UL India), and the United States Department of Defense (DoD).
Opportunities:
Advancement in bullet proof jackets
The main trend in the industry is the modernization of the materials used in bulletproof jackets. Bulletproof jackets and other types of body armor have advanced significantly. Traditional bulletproof clothing is comprised of a material known as Kevlar. A material that is frequently used as armor to deflect bullets is kevlar. The Indian armed services have a 0.3 million unit annual requirement for bulletproof vests. Additionally, the persistent fear of terrorist strikes in the nation has prompted the Indian government to buy essential protection gear for the armed forces. Therefore, it is projected that throughout the forecast period, the body armor industry in Asia-Pacific would be driven by the strong demand from military and law enforcement organizations.
Protection Level Insights:
In 2022, protection level III represented the largest global revenue share. Level III body armor is more durable since it stops rifle-caliber bullets. A hard plate insert that has to be examined in a conditioned state will always be part of Level III. This guarantees that a 5.56mm FMJ bullet fired from the most popular AR-15 variants will be stopped by Level III armor. To fully comprehend the potential of Level III flexible armor, testing must be done in both its new and conditioned states.
End-User Insights:
With the largest worldwide revenue share in 2022, the military segments will continue to rule the industry. This is because the development of combat hazards, such as shrapnel that may shatter bones or batons in IEDs, has pushed for the ratification of new tactical regulations.
A major increase in the law enforcement sector is anticipated during forecast period. As they do their duty to provide safety and security and to stop, prevent, and punish crimes, security officers and first responders primarily contribute to this.
Recent Development:
Major Key Players:
Market Segmentation:
By Protection Level
By End-User
By Type
By Style
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