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Body Armor Plates Market Forecast 2023-2032 Research By Top Industry Players - Armored Republic LLC, BAE Systems, Ceradyne Inc., Craig International Ballistics Pty Ltd, Helweg International
Body Armor Plates Market Trends
The Business Research Company's Body Armor Plates Global Market Report 2023 identifies the rising terrorism as the major driver for the Body Armor Plates market's growth in the forecast period. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm it would do. Body armor plates can break up or capture bullets during any terrorist attack. Hence, rising terrorism is contributing to the growth of the body armor plates market.
The global body armor plates market size is expected to grow from $1.86 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 6.22%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global body armor plates market size is expected to reach $2.43 billion in 2027 at a CAGR of 5.33%.
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Major competitors in the Body Armor Plates market are Armored Republic LLC, BAE Systems, Ceradyne Inc., Craig International Ballistics Pty Ltd, Helweg International, Kejo Limited Company, Pacific Safety Products, Safariland LLC, Point Blank Enterprises Inc, Ace Link Armor, Adept Armor, Canadian Armour Ltd., EnGarde body armor, SafeVest, and Automotive Armor Manufacturing.
A key trend in the Body Armor Plates market includes the product innovation. Major companies operating in the body armor plates market are focusing on developing new products to lead the market. For instance, in January 2023, Koninklijke Ten Cate BV, a US-based manufacturer of military armor products for militaries and law enforcement agencies, launched Cratus Wave, a level 3 armor ballistic plate. The unique feature of this launch is the application of trauma reduction technology. It redistributes pressure waves between the wearer and the rigid body armor plates.
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The Body Armor Plates market is segmented -
By Material: UHMWPE, Steel, Aramid, Composite Ceramic, Other Materials
By Level: Level II, Level IIA, Level III, Level IIIA, Level IV, Other Levels
By Application: Defense, Law Enforcement Protection, Civilians, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Body Armor Plates market.
The Business Research Company's "Global Body Armor Plates Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Body Armor Plates Market Include:
1. Executive Summary
2. Body Armor Plates Market Characteristics
3. Body Armor Plates Market Trends And Strategies
4. Body Armor Plates Market - Macro Economic Scenario
5. Body Armor Plates Market Size And Growth
……
26. Africa Body Armor Plates Market
27. Body Armor Plates Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Body Armor Plates Market
29. Body Armor Plates Market Future Outlook and Potential Analysis
30. Appendix
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