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Ballistic Protection Market

Segmentation By Material Type (Metal & Alloys, Composites, Ceramics, Bulletproof Glass and Aramid); By Threat Level(Level II & IIA, Level III & IIIA and Level IV & Above); By Application Type (Homeland Security, Defense, Commercial and Others); By Technology Type (Soft Armour and Hard Armour ); By Equipment Type (Helmet, Protective Vests, Shields & Barrier Systems); By End Users (Soldiers, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Report ID: 2756 | Published On: Feb 15, 2023
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Market Segmentation

Our in-depth analysis on ballistic protection market includes the following segments:

By Material Type

  • Metal & Alloys
  • Composites
  • Ceramics
  • Bulletproof Glass
  • Aramid

By Threat Level

  • Level II & IIA
  • Level III & IIIA
  • Level IV & Above

By Application Type

  • Homeland Security
  • Defense
  • Commercial
  • Others

By Technology Type

  • Soft Armour
  • Hard Armour

By Equipment Type

  • Helmet
  • Protective Vests
  • Shields & Panels
  • Ballistic Blocks
  • Barrier Systems

By End Users

  • Soldiers
  • Security Personnel
  • Police Forces
  • Others

Global-Ballistic-Protection-Market

By Region

Geographically, the ballistic protection market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to account for the maximum share on the back of rising initiatives from US government in order to sustain as a military superpower along with increasing concerns related to the safety & protection of security forces. Further, heavy defense budget proposed by government for military will fuel the market growth. The Asia Pacific region is estimated to grow at fastest rate owing to the huge investments for advanced weapons and support through necessary infrastructure aids. In addition, the introduction of logistical support equipments in emerging economies such as China, India and Japan are fostering the demand for ballistic protection. Hence, with the rising economic growth of countries in the region, the market for ballistic protection will witness surge in demand for the product.

The ballistic protection market is further classified on the basis of region as follows:

  • North America (US and Canada) Market size, Y-O-Y growth and Opportunity analysis.
  • Europe (Italy, France, Spain, UK, Germany, Russia and Other parts of Europe) Market size, Y-O-Y growth and Opportunity analysis.
  • Asia Pacific (India, China, Japan, South Korea, Australia and rest of Asia Pacific) Market size, Y-O-Y growth and Opportunity analysis.
  • Latin America (Mexico, Argentina and other parts of Latin America) Market size, Y-O-Y growth and Opportunity analysis.
  • Middle East & Africa (Saudi Arabia, Egypt, United Arab Emirates and South Africa) Market size, Y-O-Y growth and Opportunity analysis.


Ballistic-Protection-Market
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Market Size and Forecast

The ballistic protection market is estimated to record a notable CAGR of around 5.5% during the forecast period, 2020-2028. The rise in the spending of defense in order to avoid warfare situations among emerging economies along with increasing internal as well as external security threats are anticipated to drive the growth of the market. Further, surge in technological advancements for latest gadgets and devices for personal protection is leading to increased demand for the product. Strong government regulations for the protection of soldiers in order to improve their survivability are propelling the market growth. Moreover, carrying heavy equipments, kits and weapons to wars increases the weight on soldier, therefore, research & development has increased focus for making lightweight armour. Hence, these factors will account for the growth in the market over the forecast period.

Ballistic-Protection-Market

On the basis of application type, the ballistic protection market is segmented into homeland security, defense, commercial and others, out of which, defense segment is estimated to account for maximum share in the market on the back of rising counter insurgeries and surge in the number of terror attacks. In addition, the enhanced capability of armours to bear high ballistic impact and its significant performance will generate healthy demand for ballistic protection. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Rising Awareness Regarding Security

The rising security and protection awareness is the major key factor driving the growth of the market. The growing changes in the dynamics of war is resulting into surge in concerns among governments of various nations for safety measures against conflicts to ensure protection of military, police forces and citizens. The ballistic protection offers safety against mines, explosive chemicals and other hazardous materials. Various manufacturers are working on protection equipments owing to their durability and strength. Further, rising awareness for the enhancement of military capabilities and defense forces in order to counter criminals who are now more equipped will accelerate the growth of ballistic protection over the forecast period.

Restraints

High Cost of the Products and Stringent Regulations

The increased cost associated with ballistic protection equipments is expected to act as a major restraint for the growth of the market. The usage of advanced and high performance materials in the manufacturing of ballistic protection equipments is leading to the increased cost of final product. Further, the necessity of technical expertise for the development of equipments is adding up to the cost of product. Moreover, stringent regulations by different regulatory agencies in opposition to the emission of volatile organic compounds are further hampering the growth of the market.


Global-Ballistic-Protection-Market
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Top Featured Companies Dominating the Market


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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