The global bodby armor market is estimated at US$ 2.67 billion in 2022 and is likely to grow at a CAGR of 3.7% during the forecast period to reach US$ 3.4 billion in 2028.
What is Body Armor?
Body armor is a protective garment that is designed to protect the wearer from physical assaults and ballistic ammunition. It is typically made of soft or hard materials or a combination of both.
Types of Body Armor:
- Soft body armor: Soft body armor is made of flexible materials, such as synthetic fibers like aramid and polyethylene. It is typically designed to protect against handgun ammunition and is primarily worn by law enforcement officials.
- Hard body armor: Hard body armor is made of hard, ballistic-resistant panels and plates. It is intended to provide additional protection as compared to soft armor and is typically thicker and heavier.
Factors Driving the Body Armor Market:
- Increase in terrorism, mass shootings, and gun violence across the globe: Law enforcement officers and military personnel have come to heavily rely on body armor to ensure their protection and survival during anti-terrorist military operations.
- Cross-border conflicts and geopolitical tensions: Cross-border conflicts and geopolitical tensions are on the rise around the world, which is propelling the development and sales of body armor products globally.
- Growing defense expenditure and law enforcement budgets: With defense expenditure and law enforcement budgets rising in both developed and developing countries, a sizeable amount is inevitably allocated to procuring advanced body armor.
Regional Analysis:
- North America: North America is expected to remain the largest body armor market, accounting for a share of more than 55% in 2022. This growth is majorly attributed to the large expenditures by the US Department of Defense (DoD) and the US Department of Homeland Security (DHS) on body armor products for the protection of their armed troops and homeland security personnel.
- Asia-Pacific: The Asia-Pacific region is expected to witness the fastest market growth during the forecast period, driven by increasing military expenditure in the countries such as China and India, coupled with rising terror threats and geopolitical tensions.
Key Players: The following are the key players in the body armor market:
- Point Blank Enterprises, Inc.
- Safariland, LLC.
- Armor Express
- Mehler Vario System
- Beijing Tongyizhong New Material Technology Corporation
- XTEK Group
- U.S. ARMOR CORPORATION
- Mars Armor
- Senken Group Co., Ltd
- Craig International Ballistics Pty. Ltd.
Recent Developments:
- Lightweight body armor: There is a large demand for lightweight body armor that provides ample protection against bullets and ammunition, concurrently providing ample mobility. The emergence of nanotechnology will facilitate the creation of body armor vests that are both lighter and more durable.
- Liquid armor: Liquid armor is a new product being developed by BAE Systems and Helios Global Technologies. As liquid armor works on the principle of non-Newtonian fluid, it changes its viscosity when put under stress. In other words, the liquid armor hardens to become a solid, absorbing the impact of the bullet. The liquid armor is also flexible, lighter, and stronger than traditional bulletproof vests.
Conclusion:
The body armor market is expected to witness significant growth in the coming years, driven by a host of factors, including the increase in terrorism, mass shootings, and gun violence; growing defense expenditure and law enforcement budgets; and cross-border conflicts and geopolitical tensions.
Write a comment