Body Armor Market Size, Share & Trends Analysis Report 2018-2025
10 January 2019
The global body armor market size is expected to reach USD 3.02 billion by 2025, according to a new report by Radiant Insights, Inc. It is anticipated to expand at a CAGR of 5.5% from 2018 to 2025. The evolution of warfare has largely become asymmetric in nature and includes counter-terrorism and counter-insurgency. Similar scenarios exist in the law enforcement sector, wherein felons, criminals, and law offenders can fatally injure responding officers. This necessitates demand for body armor equipment.
The growth in military warfare is propelling the need for improved ballistic protection equipment to safeguard the personnel and armed forces. Emerging economies such as India, South Korea, and China are persistently focusing on replacement of legacy military equipment and are subsequently increasing their defense spending. Modernization in the sector is anticipated to create growth opportunities for the body armor providers. They are also trying to gain a competitive edge by collaborating with different military agencies through contracts.
Technological advancements and innovations such as dragon skin and liquid body are projected to accelerate the market growth. Additionally, rising demand for modular tactical vests and double-sided combat uniforms, owing to their benefits such as enhanced protection and improved soldier survivability, is expected to further drive the body armor market.
Prominent manufacturers of personal protection suits are increasingly investing in R&D activities for the development of advanced fibers, fabrics, and nanotechnology materials to improve the effectiveness of body armors. The use of modular tactical vests is gaining momentum and these vests are rapidly replacing the conventional Outer Tactical Vests (OTVs) that limit a soldier's efficiency of carrying additional assault loads such as magazines and grenades.
Further key findings from the report suggest:
• Law enforcement protection segment is expected to expand at the highest CAGR of 5.9% from 2018 to 2025 as compared to the defense and civilians segment. The demand is particularly high in U.S. owing to a significant rise in crime rates and incidents of mass shooting
• Type III segment accounted for more than 23% of market share in terms of revenue in 2017. These bodysuits offer better protection than other types and is suitable for full-time wear during warfare and combat situations
• North America accounted for the highest market share in terms of revenue in 2017. Government initiatives such as the U.S. Army Equipment Modernization Strategy and Soldier Protection System (SPS) are remarkably contributing to the regional growth
• Prominent players operating in the body armor market include Aegis Engineering Ltd.; AR500 Armor; BAE Systems; Ballistic Body Armor Pty; Craig International Ballistics Pty Ltd.; Ceradyne, Inc.; Hellweg International; Kejo Limited Company; Pacific Safety Products; Point Blank Enterprises, Inc.; and Safariland, LLC.
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
28 2nd Street, Suite 3036, San Francisco, California 94105, UNITED STATES Get Directions
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research More
This report studies the global Automotive Plastic Compounding market status and forecast, categorizes the global Automotive Plastic Compounding market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, China, Japan, South Korea, India and other regions (Southeast Asia, Central & South America, and Middle East & Africa)
Global #Citric#Acid#Market is expected to grow at a significant CAGR of 4.4% by 2023, as the scope and its applications are rising enormously across the globe. Citric acid is also termed as anhydrous citric acid or citrate or 2-hydroxypropane-1,2,3-tricarboxylic acid, with a molecular formula C6H8O7. These are odorless, colorless & translucent crystals with an acid taste and are denser than water. Its molecular weight is 192.123 g/mol. It is an organic acid compound found in citrus fruits and plays important role in metabolism to create energy.
Magnetic Powder Ring Market Size | Global Industry Analysis and Forecast | Radiant Insights, Inc - 2018
This report studies the global Magnetic Powder Ring market status and forecast, categorizes the global Magnetic Powder Ring market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia).
This report studies the global Zero-Turn Mowers market status and forecast, categorizes the global Zero-Turn Mowers market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia).
The global electronic paper screen market is anticipated to rise at a staggering CAGR of 16.48% by 2023. E-paper is commonly known as electronic ink, a digitally revolutionized material that holds libraries on a single chip. The basic idea of an E-paper is that the looks and appeal has been developed a long time ago and it has gained a lot of traction in the past five years thanks to digital media platforms. Shift in consumer preference has created a traction for e-paper and display technologies. Commercial advantages for e-paper is likely to receive massive attention from users.