The global bulletproof vest market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
A bulletproof vest refers to a protective covering worn to shield the body against bullets and shrapnel. It protects soldiers from bomb explosions by absorbing the force and preventing the attack from penetrating the body. Based on type, bulletproof vest is categorized into soft and hard bulletproof vests. Soft bulletproof vests protect against small-caliber rounds from handguns, whereas hard bulletproof vests are widely utilized in military combat, counterterrorism, counterinsurgency, hostage rescue missions, etc.
Bulletproof Vest Market Trends:
The elevating geopolitical tension and the growing threat of terrorist attacks are creating an increasing need for civilian and military protection, which is primarily driving the global bulletproof vest market. Furthermore, the escalating demand for military modernization to enhance national security along with the rising focus on minimizing casualties during combat situations, is also propelling the market growth. Several government bodies and defense organizations are rapidly adopting next-generation weaponry systems, such as novel bulletproof vests, to support and improve the survivability of military troops. For instance, in 2020, the Chinese People's Liberation Army (PLA) announced its plan to procure around 1.4 million units of high-quality body armor over the next two years. Additionally, the growing penetration of bulletproof vests for numerous commercial security applications, such as retail security, healthcare security, and transportation security, is also bolstering the global market. Moreover, the escalating consumer awareness regarding environmental degradation is bolstering the adoption of bulletproof vests made out of plant-based materials and sustainable alternatives. This, in turn, is further creating a positive outlook for the market. Apart from this, the introduction of lightweight vests with increased mobility produced through the integration of advanced technologies, such as 3D printing and the use of composite materials, is anticipated to bolster the global bulletproof vest market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global bulletproof vest market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, material, type and end user.
Breakup by Product:
- Flexible Ballistic
- Hard Armor Plate
Breakup by Material:
- Ultra-High Molecular Weight Polyethylene (UHMWPE)
Breakup by Type:
- Level IIA
- Level II
- Level IIIA
- Level III
- Level IV
Breakup by End User:
- Law Enforcement
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Armourshield Ltd., Bulletsafe Bulletproof Vests, DuPont de Nemours Inc., Elmon S.A., EnGarde body armor, Honeywell International Inc., MARS Armor, MKU Limited, Point Blank Enterprises Inc., Seyntex N.V., U.S. Armor Corporation and VestGuard UK Ltd.
|Base Year of the Analysis
||Product, Material, Type, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Armourshield Ltd., Bulletsafe Bulletproof Vests, DuPont de Nemours Inc., Elmon S.A., EnGarde body armor, Honeywell International Inc., MARS Armor, MKU Limited, Point Blank Enterprises Inc., Seyntex N.V., U.S. Armor Corporation and VestGuard UK Ltd.
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Key Questions Answered in This Report:
- How has the global bulletproof vest market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global bulletproof vest market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global bulletproof vest market and who are the key players?
- What is the degree of competition in the industry?