Body Armor Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4268
Body Armor Market size is expected to rise at a prolific rate through 2027 owing to the growing emphasis on the survivability of soldiers and the increasing need for ballistic protection. The increase in acts of terrorism and geopolitical conflicts will also influence the market expansion.
The surge in the number of development programs for advanced armors across a host of countries is a major factor contributing to product adoption. The emergence of nanotechnology materials and the rising incorporation of improvised fibers in the designing of body armors will further fuel the market growth. Nanotechnology not only enhances the casualty and medical care for soldiers but also helps to produce lightweight, strong and multi-functional materials for body armors.
Based on the material type, steel is anticipated to emerge as a promising market avenue on account of the persisting need to offer enhanced personal protection to ground troops and armed forces. On account of its higher durability and bulletproof characteristics, steel is marking extensive presence across the defense sector. Hence the growing adoption of steel-plated armors in risk-associated operations will add to the industry expansion.
Application-wise, the body armor market is identified across defense, law enforcement officers, and civilians. Out of these, the defense applications will gain commendable traction with the mount in the instances of firing and attacks. The influx of modern legacy systems and advanced military devices will further anchor the market forecast.
On the other hand, the growing prevalence of home invasions and robberies will stimulate the demand for body armor in civilian applications.
In terms of regional segmentation, the North America body armor industry will garner momentum with the jump in the number of military and defense initiatives in the region. For instance, the United States Special Operations Command, in May 2021, invested in new revolutionary equipment to offer enhanced protection and capabilities to commandos on the ground. The command also drives an initiative to provide ultra-light polyethylene body armors to commandos and teams.
The Asia Pacific body armor market revenue will be bolstered by the rise in government investments, increasing demand from law enforcement agencies, and the escalating warfare and cross-border disputes in the region.
BAE Systems, Pacific Safety Products (Med Eng Systems), Aegis engineering Ltd. (The IKOS Group), XTEK Limited, Hellweg International, Kejo Limited Company, Ballistic Body Armor (Pty) Ltd., Point Black Enterprises, Safariland LLC (Maui Acquisition Corp.), and AR500 Armor are leading participants contributing to the body armor market share.
These companies are coming up with novel product launches, and inorganic marketing strategies like partnerships, acquisitions, and mergers for portfolio expansions and to cater to the increasing body armor requirements for various applications.
For instance, in January 2021, Sellmark Corporation acquired a modern body armor provider, BulletSafe. The acquisition is likely to provide the former company with plate carriers, face/neck protectors, shields, and gas masks from BulletSafe while helping it to retain its high standards.
Similarly, in May 2021, Chiron Global Tech, an Australian technology company partnered with Armor Composite Engineering to ramp up the production of its CQC (close-quarter combat) training armor used in defense and law enforcement personnel.
COVID-19 and its effect on the body armor market trends
The present COVID-19 crisis drew an alarming effect on the global economic landscape given its groundbreaking influence on millions of businesses. The varying levels of lockdowns, containment directives, and quarantine regulations due to the spiking infection rate made way for the closure of multi facilities and industrial sectors.
Its effects were also felt on the protective cloth-making industries with the abrupt shuttering of the manufacturing plants across the leading weapon exporting nations. However, with the gradual easing of the trade and business barriers across most parts of the world, the body armor market demand is now likely to pick considerable momentum.
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