The Market of Ballistic Protection to experience an impressive growth of 4.7% CAGR during 2016-2021

The new report of Stratview Research analyses the Ballistic Protection market over the trend period from 2010 to 2015 and forecast period from 2016 to 2021. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report

The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/176/ballistic-protection-market.html

An overview: Market offers growth for the ballistic protection

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: 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.

Dominance of: Defense sector and Aramid fiber

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.

A highly/moderately/fragment consolidated Market

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.

Regional Hegemony of North America

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.

Comprehensive Market Coverage

Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html

400 Renaissance Center, Suite 2600, Detroit, Michigan
MI 48243 United States of America

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

This release was published on openPR.