The ‘Global Bulletproof Vest Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global bulletproof vest market, assessing the market based on its segments like material, application, protection level, product, end-use, and major regions.
Bulletproof Vest Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 1.96 Billion
• Forecast CAGR (2023-2028): 6.25%
• Forecast Market Size (2027): USD 2.82 Billion
|Market Size in 2021||USD 1.96 Billion|
|Revenue Forecast in 2027||USD 2.82 Billion|
|Growth Rate CAGR||6.25%|
|Major Players||Central Lake Armor Express, Inc., BulletSafe Bulletproof Vests, DuPont de Nemours, Inc., EnGarde B.V., Honeywell International Inc., MARS Armor, MKU LIMITED, Point Blank
Enterprises, Inc., Safariland, LLC, and VestGuard UK Ltd
The rising security concern has boosted the demand for bulletproof vests across the globe. Security forces spend a huge amount of money on bulletproof vests to strengthen their defence system. Some of the customers of bulletproof vests include the British Armed Forces, the US Department of Defense, the United States Agency for International Development (USAID), the Indian Army, and the Ghana Armed Force. Market players like Indian Armour offer high-performance bulletproof vests as per the specific requirements of the customer. The increasing rate of crimes and extremism in several parts of the world is leading to an expansion of the market size of the global bulletproof vest market. The increasing case of violence in countries is propelling their security agencies to procure a greater number of such bulletproof vests.
The Asia Pacific region holds a major share of the total demand for bulletproof vests. Countries like India and China are the major demand generators in this region. In countries like India, the demand for light-weight bulletproof vests is on the rise, providing an area of opportunity for the market players to flourish and expand their revenue.
Bulletproof Vest Industry Definition and Major Segments
A bulletproof vest is a protective garment that protects against shots done through weapons like pistols, revolvers and rifles. The vests hold the capability of resisting the impact of a bullet. The ballistic protection equipment evolved from metallic to natural fibre fabric to synthetic fibres like Aramid and Ultra-High Molecular Weight Polyethylene (UHMWPE). A bulletproof vest is also known as a ballistic vest and a bullet-resistant vest. The manufacturing of bulletproof vests is a licensed activity and should have required marks and certifications on them.
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The bulletproof vest can be made using materials like:
• Ultra-High Molecular Weight Polyethylene (UHMWPE)
The applications of bulletproof vests include:
Depending on the protection level, the market has been divided as:
• Level I
• Level II
• Level III
• Level IV
By product type, the market has been segregated as:
• Flexible Ballistic
• Hard Armour Plate
The bulletproof vests are used by:
• Law Enforcement
The global bulletproof vest market has also been segmented into different regions to provide an in-depth analysis of the market. These regions are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Bulletproof Vest Market Trends
The market players and other research organisations are deeply involved in the research and development activities for the launch of better bulletproof vests. In 2021, The Defence Research and Development Organisation (DRDO) introduced a lightweight bulletproof jacket that weighs around 9 kg to meet the requirements of personnel of the Indian army. In 2021, Ace Link Armor, a player from Irvine, CA announced the launch of the Skeletac hybrid bulletproof vest that can be worn in both configurations, overt and covert.
The product is made using Cordura Nylon and high-performance synthetic rubber. Moreover, players are also focusing on the development of these jackets for women. The market players use the latest technology and have strong capabilities to fulfil the demand of the customers. Indian Armour Systems Pvt. Ltd which has an experience of 20 years in ballistic manufacturing has a weaving capacity of 80,000 sqm/ month and has around 150 sewing systems and a variety of testing machines. Such new product launches and investments are likely to favour the growth of the global bulletproof vest market.
Furthermore, the growing expenditure of defence organisations on the procurement of bulletproof vests to strengthen the military capability and safeguard their citizens is contributing to a favourable outlook for players in the bulletproof vest market.
Key Market Players
The major players in the bulletproof vest market report are:
• Central Lake Armor Express, Inc.
• BulletSafe Bulletproof Vests
• DuPont de Nemours, Inc.
• EnGarde B.V.
• Honeywell International Inc.
• MARS Armor
• MKU LIMITED
• Point Blank Enterprises, Inc.
• Safariland, LLC
• VestGuard UK Ltd
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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