Body Armor Market Size to Grow by USD 5.85 billion | Rise in Security Threats to Drive Growth | Technavio
NEW YORK, Dec. 17, 2021 /PRNewswire/ -- The body armor market is dominated by APAC. The region is expected to account for 50% of the market's growth during the forecast period. India and China are the key countries for the body armor market in APAC. However, the market growth rate in this region will be slower than the growth of the market in Europe, MEA, and South America. Geopolitical scenarios in the region have led to unprecedented skirmishes and armed conflicts, especially in the Indochina border. These factors will drive the body armor market growth in APAC during the forecast period.
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The body armor market forecast report has been added to Technavio's catalog. The market is expected to grow by USD 5.85 billion from 2021 to 2026. However, the growth momentum of the market will decelerate at a CAGR of 4.00%.
Read the 120-page report with TOC on "Body Armor Market Analysis Report by Type (BPJ and BPH) and Geography (APAC, Europe, North America, South America, and MEA) Forecasts,2022-2026". View Our Report Snapshot
Drivers and Challenges:
The body armor market is driven by rise in security threats. The rise in conflicts, domestic terrorism, damage from attacks, cross-border terrorism, and other hazards pose a threat to national security. This has led to the need for protective armor for troops. Vendors have innovated ballistic protection equipment by introducing lightweight and flexible body armor, ballistic armor for women, and advanced ballistic materials. In addition, manufacturers are focusing on offering breathable and fireproof fabric clothes that can protect the wearer from slash-type attacks.
The difficulty in optimizing the weight of body armor will be a major challenge for the market during the forecast period. High-performance body armor is integrated with specialized equipment, which allows troops to engage in combat without any hindrances. The weight of body armor increases when it is combined with devices such as radio, ammunition, and optics. Body armor is also integrated with communication systems, face protection, video cameras, oxygen systems, and other advanced technologies. These devices add extra weight to the heavy armor, which affects the mobility, flexibility, and efficiency of the wearer. These factors are compelling vendors to fund R&D to optimize the manufacturing process and reduce the weight of body armor.
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Major Body Armor Companies:
- 3M Co.
- AR500 Armor
- BAE Systems Plc
- Craig International Ballistics Pty Ltd
- Hellweg International Pty Ltd
- Med-Eng Holdings ULC
- Point Blank Enterprises Inc.
- Safariland LLC
- U.S. ARMOR Corp.
- United Shield International LLC
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Body Armor Market Type Outlook (Revenue, USD bn, 2021-2026)
- BPJ - size and forecast 2021-2026
- BPH - size and forecast 2021-2026
Body Armor Market Geography Outlook (Revenue, USD bn, 2021-2026)
- APAC - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- North America - size and forecast 2021-2026
- South America - size and forecast 2021-2026
- MEA - size and forecast 2021-2026
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Body Armor Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Decelerate at a CAGR of 4.00% |
Market growth 2022-2026 | USD 5.85 billion |
Market structure | Fragmented |
YoY growth (%) | 4.28 |
Regional analysis | APAC, Europe, North America, South America, and MEA |
Performing market contribution | APAC at 50% |
Key consumer countries | India, China, Russian Federation, US, and Turkey |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | 3M Co., AR500 Armor, BAE Systems Plc, Craig International Ballistics Pty Ltd, Hellweg International Pty Ltd, Med-Eng Holdings ULC, Point Blank Enterprises Inc., Safariland LLC, U.S. ARMOR Corp., and United Shield International LLC |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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