The companies operating in the global body armor market are focused on delivering technologically advanced armor to cater to the unique defense needs of various countries, observes Transparency Market Research. The leading players in the global body armor market are Point Blank Enterprises, Inc., Honeywell International Inc., Safariland, LLC, BAE Systems, Inc. With specialized research and development facilities, these companies are dedicatedly striving to integrate advancements of material sciences and human engineering with technological precision to manufacture topnotch protective gear.
“Delivering equipment that offers advantages beyond safety will be the strategy adopted by several players in their future roadmap,” says the lead author of this comprehensive research report. “A classic example of this is MKU’s 2015 launch of helmets that come with the new technology that promises to minimize the trauma,” he further added. These helmets are aimed at reducing the possibility of trauma from the impact of bullets by about 40% according to the results shown by HP White Laboratory, USA.
Increasing Research and Development to Integrate Advanced Materials Steers Market Growth
The ongoing soldier modernization programs by various governments have resulted in a prolific demand for state-of-the-art protective gear for soldiers to combat in tough terrains and circumstances. The rising threat of terrorism and the political vulnerability has pressurized governments to offer the best of body armor to their personnel. Integration of features such as mobility, sustainability, survivability, and lethality have all contributed towards an increased uptake of body armor suits and other accessories. Analysts predict that several nations, especially the BRIC nations, will focus on developing body armor that is light in weight to make it a sustainable solution in tough mountainous terrains.
The ongoing research and development activities undertaken by countries such as Russia, Brazil, the U.S., and India to develop new materials that come with sophisticated features is expected to offer a plethora of opportunities to this market. The sales of body armor will also gain momentum due to enforcements of laws mandating the use of modern protective gear for the military and law enforcement personnel across the U.A.E.
Slashed Defense Budgets Challenges Global Market
The positive sentiment in the market is being disturbed as governments across the world are slashing defense budgets. As countries such as the U.S. and the U.K. are trying to channelize their massive defense budgets towards other purposes the demand for body armor suits is going to get affected adversely. The monopoly intellectual property rights and patents pertaining to manufacturing techniques of body armor in the hands of a few players is also limiting the large-scale production.
Demand for Type IV Body Armor Remains Strong with Soldier Modernization Programs
The report suggests that the global body armor market was valued at US$3,300.0 mn and is anticipated to reach US$4,337.6 mn by the end of 2021. The market is expected to register a CAGR of 4.0% between 2015 and 2021. Amongst the various types of body armor, the type IV will exhibit a stunning market opportunity worth US$1057.2 mn by 2021 due to aggressive Soldier modernization programs are undertaken by governments. In terms of geography, this market will be led by North America at a CAGR 4.0% over the forecast period.
This review is based on Transparency Market Research’s report, titled “Body Armor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
- Global body armor market will reach US$4,337.6 mn by 2021due to ongoing military reforms
- Type IV body armor segment will be the key contributor to the market with a revenue of US$1057.2 mn 2021
- North America will lead the global market as the region focuses on procurement of latest equipment
The global body armor market has been segmented into:
Global body armor market, by Type
- Type I
- Type II-A
- Type II
- Type III-A
- Type III
- Type IV
Global body armor market, by Application:
- Law Enforcement Protection
Global body armor market, by Material type
- Composite ceramic
Global body armor, by Geography: The market is broadly segmented on the basis of geography into:
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
Our new press releases http://www.transparencymarketresearch.com/pressrelease/global-body-armor-market.htm
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453