Ballistic Protection Market is likely to grow at 4.7% CAGR during the forecast period of 2016 to 2021

This report, from Stratview Research, studies the global ballistic protection market over the period 2010 to 2021.

Launching announcement of a new research report on Ballistic Protection Market which is projected to grow at 4.7% CAGR by 2021- forecasted by Stratview Research. The study provides an in-depth analysis by Product Type (Personal Protective Equipment – Soft Armor, Hard Armor, Protective Headgear, and Vehicle Armor), by Material (Aramid Fiber, Glass Fiber, Glass, and Lexan), by Application (Defense, Homeland Security, and Commercial), by Region (NA, Europe, APAC, ROW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021.

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Ballistic Protection Market: Highlights

The purpose of the ballistic protection products is to protect soldiers, army vehicles, and homeland security & law enforcement forces from bullets, explosive materials, mortar, mines, electrical shocks, heat, chemicals, and biohazards.

The ballistic protection market offers good growth opportunity and is likely to grow at 4.7% CAGR during the forecast period of 2016 to 2021. Increasing government spending in strengthening the defense sector, increasing conflicts between countries, and rising terrorist & extremist activities are some of the major factors driving the demand of ballistic protection globally.

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The ballistic protection market is segmented into two categories; Personal Protective Equipment and Vehicle Armor. Personal protective equipment is further segmented into three categories namely soft armor, hard armor, and protective headgear. Soft armor is expected to experience the fastest growth over the next five years, driven by increasing demand from defense and law enforcement forces. Government of many countries prefer soft armor that does not have technical challenges including weight. Major soft armor producing companies are developing advanced soft armor which is lightweight, durable, and more comfortable to the soldiers and law enforcement forces. This supplements companies in winning contracts and gaining competitive advantage over competitors.

Defense sector is likely to remain the largest application in the ballistic protection market during the forecast period driven by high focus of many governments in strengthening their defense sector due to rising conflicts between countries and with terrorism. Major developed economies, such the US, the UK and France keep on doing R&D for development of advanced ballistic protection equipment for their soldiers, vehicles, and law enforcement forces whereas major developing economies are generating healthy demand of ballistic protection equipment. For instance, Indian government is on the process of procuring 186 thousands bullet proof jackets for their soldiers.

Aramid fiber is expected to remain the largest material type in the ballistic protection market during the forecast period. Kevlar of DuPont and Twaron of Tejin are the world’s most recognized brands in the ballistic protection market and are extensively used in most of the major applications, such as body armor, helmets, vehicle armor, and tactical vests.

North America is expected to remain the largest ballistic protection market during the forecast period. High defense spending by the US government, involvement of US military in middle east regions, such as Syria and Iraq, and increasing concern over terror attacks are some of the major drivers of the North American ballistic protection market.

Asia-Pacific is expected to exhibit the fastest growth over the next five years, driven by mainly China and India. China and India, both are strengthening their defense system by continuously increasing government spending. Both countries are investing heavily on procuring/building advanced weapons and better ballistic protection equipment for their soldiers and law enforcement security forces. The hostile relation between some countries in Asia, such as India, Pakistan, China, and Korea is the major reason behind the high investment on ballistic protection equipment in Asia-Pacific region.

The supply chain of this market comprises of raw material suppliers, fiber glass manufacturers, fabric manufacturers, ballistic protection equipment manufacturers, distributors, and governments. The key ballistic protection equipment manufacturers are BAE Systems, E.I. DuPont De Nemours, Honeywell International, Royal TenCate NV, and Teijin Aramid. Lightweight product and new application development are the key strategies adopted by the key players to gain competitive edge in the market.

Report Features

The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.
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