Body Armor Market revenue worth over $2.5 Bn by 2027
Published Date: October 4, 2021 Authors: Preeti Wadhwani, Prasenjit Saha
Body Armor Market size is slated to reach USD 2.5 billion by 2027, according to a new research report by Global Market Insights Inc.
Growing participation of women in the armed forces is augmenting the body armor industry demand. According to Statistics Canada, the total number of female officers stood at 15,268 in 2019, accounting for 22% of all police officers. The rising participation of females has resulted in a higher procurement for female body armors.
Rapid advancements in military-related technologies have resulted in the development of modern armor and created numerous market opportunities for industry players. The development of ultralight polyethylene armor, nanotechnology-based armor, and liquid armor has revolutionized the body armor market. For instance, the U.S. military’s nanotechnological weapon research is focused on the development of defensive military equipment to improve the existing designs of lightweight, flexible, and durable materials.
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The heavyweight of steel armors is one of the market factors restraining the industry growth. The steel used in body armor plates is rigid & heavy and limits user flexibility. Steel armors have increased incidences of lower back pain and musculoskeletal disorders, hampering market demand. With the introduction of modern lightweight body armors, the market growth is expected to escalate through 2027.
Analyst view: “High focus on developing the military & defense sector in several countries owing to rising acts of terrorisms and geopolitical conflicts will spur the adoption of body armors.”
The COVID-19 pandemic has mildly affected the body armor market in 2020. The limited availability of resources and supply chain disruptions have resulted in a slight decline in the production of body armors. During the pandemic, the defense industry spending increased as some Asian, North American, and European countries have declared the pandemic situation as war. Military forces were trained to quickly handle the situation, which has also increased the demand for body armor accessories such as protective gears, ballistic helmets, and others.
Lightweight and high durability will support the adoption of concealable armors
North America concealable armor segment is set to grow at around 4% CAGR through 2027. A covert armor is designed to be worn under the clothing and gives the wearer protection when attacked. The lightweight, sleek design, and high-quality fabric of concealable armor are driving the demand. Market participants are introducing new concealable armors to provide standard safety to soldiers and law enforcement officers.
Browse key industry insights spread across 250 pages with 403 market data tables and 19 figures & charts from the report, “Body Armor Market Size By Product (Concealable Armor, Tactical Armor, Stab Armor), By Body Type (Unisex Armor, Male Armor, Female Armor [Shaped, Formed]), By End-use (Defense, Law Enforcement Officers, Civilians), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021-2027’ in detail along with the table of contents:
Rising assaults on police officers will propel the body armor market revenue
The demand for armors from law enforcement officers in Latin America crossed USD 45 million in 2020. The industry shipments in Latin America are expected to exceed 50,000 units by 2027. Increasing violence against police officers every year has resulted in higher demand for body armor. According to the Federal Bureau of Investigation report 2021, fatal attacks on officers increased by 31.6% in early 2021.
High government focus to strengthen the military sector in Asia Pacific
The Asia Pacific body armor market is forecast to register growth rate of about 4.5% till 2027. The exponential increase in defense expenditure owing to rising geopolitical disputes will fuel the regional market size. The upward market trend in defense spending has resulted in higher procurement of body armors. For instance, in February 2020, the People’s Liberation Army (PLA) planned to spend USD 1.85 billion to procure 1.4 million body armors to improve its combat readiness.
Companies are investing in strategic mergers, partnerships, and acquisitions to increase their market share. For example, in January 2021, Sellmark Corporation acquired BulletSafe, a body armor provider. The acquisition will help the company to enhance its product portfolio and focus on maintaining performance standards for body armors. Other key strategies adopted by industry leaders include new product launches and geographic expansion.
Prominent players in the body armor market include MKU Ltd., Craig International Ballistics Pty Ltd., Ballistic Body Armor (Pty) Ltd., Pacific Safety Systems, Safariland LLC, AR500 Armor, Point Blank Enterprises, XTEX Limited, Hawk Protection, Mehler Vario System GmbH, Seyntex NV, SIOEN Ballistics, and Source Vagabond Systems Ltd.
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