Bullet proofing helps prevent high velocity projectiles or bullet from penetrating the surface. Bullet resistant materials are often used to protect personnel from death or serious injuries in law enforcement and military field. Bullet resistance is more precise than bullet proof as there are few practical materials which can provide thorough protection against all types of bullets even after several hits at identical location. Bullet-resistant materials also known as ballistic materials can be rigid or supple. They can be complex, such as carbon fiber, Lexan,Kevlar and composite materials, or a basic material, like titanium or steel. Bullet proofing is used in aerospace, liquid armor, armored fighting vehicle, bulletproof vest, military vehicle, panic room, bulletproof glass, plastic armor, bank vault, bomb suit, riot shield, safe, armored car. Presently available bullet proofing lacks coverage from high speed projectiles, cracking of shield materials from bullet strikes and shock proofing.
Defense expenditure around the world has been increasing. This is visible in arms and ammunition market. It is expected government defense agencies will invest in acquiring higher efficient bullet proofing in form of- vest, military vehicle and aerospace. These demands will be directly proportional to the advancements of arms industry and innovations in bulletproofing technology.
Based on the type, the next generation bullet proofing market is segmented into bullet proof jackets, explosion-proof blankets, body armor, bulletproof glass and others. In 2015, the bulletproof glass segment anticipated to be the major market and anticipated to be the same during the forecast period of 2016 – 2024. The major factor boosting the demand of the bulletproof glass is due to uses in the different end user industries such as automotive industry, financial services industry, construction industry, marine industry and aerospace industry. In addition, bulletproof glass is also used in various places such as armored cash trucks, bank security glass, ATM booths, residential buildings, premium vehicles and display case among others.
Based on the raw material, the next generation bullet proofing market is segmented into kevlar, polycarbonate, polyurethane, ceramic, titanium and thermoplastic among others. In 2015, the titanium segment anticipated to be the major market and anticipated to be the same during the forecast period of 2016 – 2024. The major factor boosting the demand of the market is due to uses in the different product such as explosion-proof blankets, body armor and bulletproof glass among others.
Based on the end user industries, the next generation bullet proofing market is segmented into financial services industry, bank vault, bomb suit, riot shield, automotive industry, armored fighting vehicle, construction industry, aerospace industry and marine industry, bulletproof vest, and military vehicle among others. Growth of the next generation bullet proofing market has been increasingly driven by increasing automotive industry globally. In addition, rising automotive industry coupled with growing demand for value-added automobile products from tech-savvy consumers is anticipated to further fuel the demand for next generation bullet proofing in the automotive industry segment. Moreover, the revenue from increasing financial industry is estimated to dominate due to growing development of financial institutions and services in developing countries such as India and Brazil among others due to rising need for capital.
Based on the regions, the next generation bullet proofing market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. North America holds the major market share followed by Europe. This is due to increased consumption of bulletproof glass as a security purpose in the region. However, Middle East and Africa is anticipated to record maximum CAGR during the forecast period of 2016 – 2024.
Key manufacturer of bullet proofing are Saint-Gobain (France), China Glass Holdings Limited, S.A (Hong Kong), China Glass Specialty AG (China), Armormax (USA), Texas armoring, Asahi Glass co. Ltd. (Japan), Nippon Sheet Glass (Japan), GKN Aerospace (UK), International Armoring Corporation (IAC) and Chongqing Dameng Group (China) among others.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.