Body Armor Market is Forecast to Reach US$ 3.4 Billion in 2028, Says Stratview Research

The body armor market is likely to rise at a CAGR of 3.7% during 2023-2028, to reach US$ 3.4 billion in 2028, states Stratview Research

DETROIT, April 13, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Body Armor Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Body Armor Market

The global body armor market is segmented based on armor type, product type, material type, level of protection type, end-user type, mode of operation type, and region.

Based on Armor type - The market is segmented into hard body armor and soft body armor. Among these, hard body armor segment is expected to remain dominant, accounting for a market share of more than 65% in 2022. 

Based on product type - Among all the armor types, ballistic-resistant armor held a significant share of more than 45% in 2022, owing to its large usage in hard as well as soft body armor and wide application in military and law enforcement operations.

Based on the material type - UHMWPE occupied the major market share of more than 45% in 2022, owing to its several advantages, such as improved ballistic resistance, lighter weight, higher durability, and strength, and slower decay from air and water as compared to the other materials.

Based on the level of protection type - The level IV+ level IIIA/II protection type accounted for a market share of more than 30% in 2022, as it provides protection against the steel-core armor-piercing rifle ammunition as well as offers additional soft armor protection.

Based on end-user type - Military held the largest market share of almost 50% in 2022, owing to the increasing investments by the US DHS (Department of Homeland Security) and other law enforcement agencies of different countries for the safety of their police officers and other law enforcement personnel. 

Based on the mode of operation type- As most of the military and homeland security operations follow an overt mode of operation, making it the dominant sub-segment in the market with a share of more than 60% in 2022.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that the North America is expected to remain the largest market, accounting for a share of more than 55% in 2022. This growth is majorly attributed to the following –

-  Large expenditure by the US Department of Defense (DoD) and the US Department of Homeland Security (DHS) on body armor products.
-  The region is also home to market-leading companies, such as Point Blank Enterprises, Inc., Safariland, LLC, and Armor Express, which are also the major contractors for the US DoD and the US DHS.

Likewise, 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.

Body Armor Market Drivers

Some of the key drivers listed in the report are given below.

• 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, in order to ensure their protection and survival, during anti-terrorist military operations.
• Cross-border conflicts and geopolitical tensions are on the rise around the world.
• The Russia-Ukraine crisis serves as a recent example. Such factors propel the development and sales of body armor products globally. 

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Top 10 Companies in Body Armor Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

-  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.

What Deliverables will You Get in this Report?

Related reports which might be useful:

• Hard Body Armor Market
• Soft Body Armor Market

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