Ballistic Protection Market is likely to grow at 4.7% CAGR Over the Next Five Years

Stratview Research has launched a new research report on Ballistic Protection Market. The report segments the market in the most intelligent way, giving a holistic and detailed view of the market.
The forecast of the market size has been segmented by –
● by Product Type (Personal Protective Equipment, and Vehicle Armor)
● by Material Type (Aramid Fiber, Glass Fiber, and Others)
● by Application Type (Defense, Homeland Security, and Fabrics)
● and by Region

○ North America (Country Analysis: USA, Canada, and Mexico)
○ Europe (Country Analysis: Germany, France, UK, Italy, Russia, and Rest of the Europe)
○ Asia-Pacific (Country Analysis: China, Japan, India, and Rest of the Asia-Pacific)
○ Rest of the World (Country Analysis: Middle East and Latin America)
The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Ballistic Protection market.
Years considered for this report –
 base year 2016
 trend period 2011 – 2015
 forecast period 2016 – 2021

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Increasing government spending in strengthening the defense sector

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.

Soft armor to experience the fastest growth

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.

Aramid fiber to remain the largest material type in the market

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 to remain the largest market

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.

Top market players

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

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Research Methodology

This report studies the global Ballistic Protection market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
 Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
 More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

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