The global body armor market size
is expected to reach USD 5,661.0 million by 2024 according to a new study by
Grand View Research, Inc.The evolution of modern day warfare has largely become
asymmetric in nature and includes counter-terrorism, counter-insurgency, and
guerrilla warfare operations. Similar scenarios exist in the law enforcement
sectors wherein felons, criminals, and law offenders are capable of fatally
injuring responding officers, thus necessitating the demand for body armor
equipment.
The
rise in military warfare is propelling the need for ballistic protection
equipment in order to safeguard the armed forces. Emerging economies, such as
India, South Korea, and China, are persistently focusing on the replacement of
legacy military equipment and are subsequently increasing their spending in the
defense sector. Modernization activities are creating several opportunities for
the vendors of body armor, which, in turn, are trying to obtain a competitive
edge by collaborating with the military agencies through a contractual process.
The defense agencies in developed
countries, such as the U.S., Canada, and France, are laying high emphasis on
enhancing personal protection for armed forces & ground troops and are,
thus, focusing on upgrading the conventional protective headgears and body
armor capabilities.
Technological advances are the
key instruments in accelerating the market growth as innovative techniques,
such as liquid body armor and dragon skin, are gaining momentum. In addition to
this, the demand for modular tactical vests and double-sided combat uniforms is
on a rise due to its features offering enhanced protection and ensuring soldier
survivability.
Prominent manufacturers of
personal protection suits are increasingly investing on R&D activities for
the development of advanced fibers, fabrics, and nanotechnology materials to
improve the effectiveness of the body armor. The use of modular tactical vests
is gaining momentum and is rapidly replacing the conventional Outer Tactical
Vest (OTV), which limits the soldier’s efficiency of carrying additional
assault load such as magazine (firearms) and grenades.
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Further key findings from the study suggest:
- The type 3A segment accounted for 21.8% of the overall market share (in terms of revenue) in 2015. The body suit offers protection against the type 1, type 2A, type 3, and most handgun threats. Furthermore, the armor is suitable for the full-time wear in several warfare and combat situations.
- The civilian demand for personal body suits accounted for 7.4%of the total market share (in terms of revenue) in 2015 and is anticipated to reach 7.7% by 2024. The demand is particularly high in the U.S. A significant rise in the crime rates and incidents of mass shooting in the U.S. is driving the demand for armor vests among civilians.
- The ‘other’ materials segment is presumed to witness an upsurge in the demand owing to the wide-scale adoption of nanotechnology materials fibers and fabrics, such as Kevlar and STF, among others, for manufacturing breathable and light-weight body protection suits. The ‘other’ materials segment accounted for 14.2% of the global market share(in terms of revenue) in 2015 and is projected to account14.9% by 2024.
- The North American regional market accounted for 49.5% of the global revenue share in 2015. Government initiatives, such as the U.S. Army Equipment Modernization Strategy and Soldier Protection System (SPS), are remarkably contributing to the industry expansion in the North American region.
- Prominent players operating in the market include AR500 Armor, Ballistic Body Armor (Pty) Ltd., Aegis Engineering Ltd., BAE Systems, Craig International Ballistics Pty Ltd., Kejo Ltd., Hellweg International, Point Blank Enterprises Inc., Pacific Safety Products Inc., and Safariland LLC.
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