Ballistic Protection Materials & Equipment Market Size

Ballistic Protection Materials & Equipment Market Size

Ballistic Protection Materials & Equipment Market size was valued at over USD 1.7 billion in 2018 and will witness gains over 5.5% CAGR by 2025.

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Increasing defense budgets in the emerging economies, for instance Asia Pacific is likely to have a significant impact on the product demand, which will help boost the overall ballistic protection materials & equipment market size in the forecast timeframe. Furthermore, increasing terrorism and thereby rising tension between countries across different parts of the globe will also act as a key drivers for ballistic protection market size by materials & equipment in the coming years. Moreover, rising awareness amongst government for active as well as passive safety measures against terror groups to ensure safety and protection of their military, paramilitary and police forces and citizens will help drive the product demand which in turn will make notable impact on the ballistic protection materials & equipment market size in the forecast time period.

Stringent regulations laid down by different national and international regulatory agencies against emission of volatile organic compounds (VOCs) is likely to be the key restraining factor, which is anticipated to have a negative impact on the global ballistic protection materials & equipment market size in the near future. Despite stringent regulations against VOC emission, increasing demand for the ballistic materials and equipment across the globe owing to increasing terrorism and rising awareness about the safety of security forces, is expected to drive the global ballistic protection material & equipment market during the forecast period.