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Bulletproof Vest Market Size
- Report ID: GMI4797
- Published Date: Aug 2020
- Report Format: PDF
Bulletproof Vest Market Size
Bulletproof Vest Market size was USD 1.45 billion in 2019 and will grow at a CAGR of 6.7% between 2020 to 2026. The rising focus of defense agencies on enhancing soldier survivability will positively influence the industry growth.
Technological advancements with the usage of para aramid textile, titanium plating, and other nanotechnology materials to manufacture vests will surge product penetration in the defence industry. Further, introduction of modular tactical vests and several military modernization programs, such as the PONARS Eurasia are among some recent trends promoting the market expansion.
Increasing territorial claims and cross border tension across the globe are surging the demand for ballistic protection equipment. Both developed and emerging economies have subsequently increased their expenditure on defense modernization with shifting focus toward advanced military equipment. In 2020, the Chinese People's Liberation Army (PLA) declared its plan to procure around 1.4 million units of superior quality body armors over the next two years. Protecting workforce from frugalities of war and thriving investments in product innovation and advancement are the other key factors boosting the bulletproof vest market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Bulletproof Vest Market Size in 2019: | 1.44 Billion (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 6.7% |
| 2026 Value Projection: | 2.30 Billion (USD) |
| Historical Data for: | 2016 to 2019 |
| No. of Pages: | 205 |
| Tables, Charts & Figures: | 290 |
| Segments covered: | Product, Protection level, Application, End-user and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Bulletproof Vest Market Scope
