Global Body Armor and Personal Protection Market to 2031 – Market Size and Drivers, Major Programs, Competitive Landscape and Strategic Insights

2021-08-25
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Published : Aug-2021
No. of Pages : 108
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Global Body Armor and Personal Protection Market to 2031 – Market Size and Drivers, Major Programs, Competitive Landscape and Strategic Insights

Summary

Global Body Armor and Personal Protection Market to 2031 report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for body armor and personal protection market over the forecast period.

The demand for body armor and personal protection equipment is anticipated to be driven during the forecast period by the soldier modernization and combat capability enhancement initiatives undertaken by the key defence spending countries such as the United States, Russia, United Kingdom, Germany, and France. Apart from these, the rise in civilian unrest and political protests worldwide is also expected to propel the demand for the body armor and personal protection equipment. Over the last few years, there has been a significant increase in civilian unrest and political protests globally. The economic slowdown and uncertainty due to the COVID-19 pandemic has been a major factor for the increasing number of protests worldwide. In 2020, almost 15,000 riots and violent protests were witnessed across the globe.

The hard armor segment is expected to be the largest segment and accounts for 33% of the global body armor and personal protection market over the forecast period. The segment growth is expected to be driven by several high-value procurement programs worldwide, including the US Army’s Enhanced Small Arms Protective Inserts & X-Small Arms Protective Inserts and Low Intensity Threat Environment (LITE) Body Armor Inserts programs, India’s Sarvatra Kavach, Germany’s Protective Vest Inserts, and France’s Inter-Army Ballistic Modular Vest program, among others. The majority of the hard armor procurement programs are part of the respective country’s soldier modernization and combat capability enhancement initiatives. According to Chandan Kumar Nayak, Defense Analyst at GlobalData: “Apart from conventional warfare application by the armed forces, the law enforcement agencies across the world are also acquiring advanced body armor and personal protection equipment to counter internal security threats, such as terrorism, insurgency, and various other organized crimes. This factors will fuel the growth of body armor and personal protection market over the next decade.”

Asia-Pacific region is expected to dominate the global body armor and personal protection market from 2021 to 2031. The region is anticipated to be one of the most lucrative markets for suppliers of body armor and personal protection equipment due to increased defense spending by key countries such as India, China, and South Korea, among others. China is expected to constitute the largest revenue share of the Asian market, backed by its large-scale ongoing procurement of bulletproof vests, ballistic helmets, combat boots and protective clothing.

Key Highlights

– The global body armor and personal protection market is expected to grow at a CAGR of 1.82% over the forecast period.
– The global body armor and personal protection market is classified into five categories: Hard Armor, Protective Clothing, Boots, Soft Armor, and Protective Headgear.
– Asia-Pacific is expected to dominate the global body armor and personal protection market over the forecast period with a market share of 45.2%, followed by North America and Europe.
– Hard Armor is expected to be the largest segment over the forecast period.

Who Should Buy

– Defence Startup’s, Original Equipment Manufacturers (OEMs), Defence Planners, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
– The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
– The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

In particular, the report provides an in-depth analysis of the following –
– Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
– Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing body armor and personal protection projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
– Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
– Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
– Competitive landscape and strategic insights: analysis of the competitive landscape of the global body armor and personal protection market. It provides an overview of key players, their strategic initiatives, and financial analysis.

Reasons to Buy

– Determine prospective investment areas based on a detailed trend analysis of the global body armor and personal protection over the next ten years
– Gain in-depth understanding about the underlying factors driving demand for different body armor and personal protection segments in the top spending countries across the world and identify the opportunities offered
– Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
– Identify the major factors that are driving the global body armor and personal protection market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
– Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global body armor and personal protection market
– Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top body armor and personal protection solution providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available

Filed in: Public Sector
Publisher : GlobalData
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