May 2022, Market Research Future Published a Report on the Global Ballistic Protection Market.
Ballistic Protection Market Forecast
Global Ballistic Protection Market is projected to be valued at $19.56 Billion by 2030, registering a CAGR of 6.31% from 2022 to 2030. Rapidly increasing geopolitical tension and incidences of external & internal threats have significantly contributed to the expansion of the ballistic protection market. Furthermore, increasing investments made by the US Army in ballistic protection equipment to offer enhanced safety to army personnel is expected to drive the growth of the market. For example, in March 2018, the US Army signed a contract with Ceradyne, Inc., a subsidiary of 3M, to procure ballistic helmets.
However, issues related to heavy equipment weight affecting the mobility of security forces and high development costs are expected to hinder the growth of the market.
Market USP
Advancements in technology and the growing use of advanced materials for manufacturing ballistic protection equipment is projected to propel the growth of the segment.
Growth Opportunities in the Market
The Airborne Segment to Register the Highest Growth Rate: The airborne segment is projected to register the highest CAGR during the forecast period. It includes fixed-wing aircraft & helicopters and unmanned aerial vehicles (UAV). The increasing adoption of UAVs in battlefield operations is expected to drive the growth of the segment.
The Soft Armor Segment Dominated the Market in 2019: The soft armor segment dominated the market in 2019. The increasing demand for various lightweight equipment by the military and various security sectors is expected to drive the growth of the segment. On exposure to higher impacts, the high modulus of elasticity of the soft armor allows the energy generated through impact to dissipate over as large an area as possible, which is expected to drive the growth of the segment.
The Homeland Security Segment Expected to Register the Higher CAGR: The homeland security segment is projected to grow at the higher CAGR during the forecast period. Increasing instances of terrorism across the globe and rising territorial conflicts are driving the growth of this segment.
The Composites Segment Dominated the Market in 2019: Composites offer benefits such as high strength-to-weight ratio and rigidity. Moreover, composite materials offer advantages such as corrosion resistance and excellent fatigue. Additionally, the growing use of composites for manufacturing aerospace components is also expected to drive the growth of the segment.
Key Players
- BAE Systems (UK)
- 3M (US)
- Rheinmetall AG (Germany)
- Koninklijke Ten Cate bv (Netherlands)
- FMS Enterprises Migun LTD. (Israel)
- Point Blank Enterprises, Inc. (US)
- DuPont (US)
- ADA (Australia)
- Survitec Group Limited (UK)
- ArmorWorks (US)
Other Prominent Players
- Revision Military (US)
- ArmorSource, LLC (US)
- Southern States, LLC (US)
- Craig International Ballistics Pty Ltd. (Australia)
- Teijin Limited (Japan)
- Saab AB (Sweden)
- MKU Limited (India)
- Morgan Advanced Materials plc (UK)
- ELMON (Greece)
- Honeywell International, Inc. (US)
- Permali (UK)
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Base Year | 2022 |
Companies Covered | 15 |
Pages | 168 |
Certified Global Research Member
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.