Safety in Focus : Analyzing the Ballistic Protection Market

According to a new report published by Allied Market Research, titled, "Ballistic Protection Market," The ballistic protection market was valued at $14 billion in 2021, and is estimated to reach $26.1 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

North America dominates the market, in terms of revenue, followed by Asia Pacific, Europe and LAMEA. In addition, Europe is expected to grow at a highest growth rate over the forecast period, owing to the rising demand for protection of soldiers.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/9418

At present, army engineers and market scientists are tackling the ever-rising demand for increasing the abilities of the frontline warriors and soldiers that are on the combat zone. As there has been a key degree of improvement for the powerful and versatile weapons, the modern systems and gadgets in military shield are being progressively added to the ballistic protection market. Likewise, more developments will be needed to safeguard the soldiers. This is possible because of technological innovations. The innovation like the mixture of SRP (self-reinforced polymer) composites and lightweight ceramics, the wearable type of ballistic protection will be devised to shield against a range of threats, from improvised explosive devices to light firearms.

The geopolitical tensions between India and its neighboring countries and the terrorism threat have pushed the region beyond to reinforce its perimeter security and airborne and naval capabilities. The country has continuously been increasing its defense expenditure over the years. The budget for 2022, valued at $70.6 bn, correspond to an increase of 10% compared to the allocation of previous year and the sharpest increase in the defense budget in recent years. This growth is expected to positively impact in ballistic protection market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/ballistic-protection-market/purchase-options

In the recent past, there has been a good amount of demand for the ballistic protection as it has bolstered its position due to the conflict situation in some of the terror-prone countries like Libya, Serbia, Iraq, and Afghanistan. Moreover, Iran's intensifying nuclear creation has been observed to be improved and intensified the military tensions among Israel, the US, and Iran. The market leaders and governments around the globe are constructing their sources to enhance and improve the production scale so that they are presented whenever needed and hence, the investments don't go useless. The birth of technology is establishing to be beneficial for the ballistic protection market revenue.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By product type, the vehicle protection equipment segment is projected to dominate the global ballistic protection market in terms of growth rate.

By material type, the others segment is projected to dominate the global ballistic protection market in terms of growth rate.

By application type, the airborne segment is projected to dominate the global ballistic protection market in terms of growth rate.

By technology, the hard armor segment is projected to dominate the global ballistic protection market in terms of growth rate.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9418

The key players operating in the ballistic protection market are Avon Protection plc, BAE Systems, DuPont de Nemours, Inc., GENTEX Corporation, Honeywell International Inc., Point Blank Enterprises, Inc., Rheinmetall AG, SAAB AB, Survitec Group Limited, and Tencate Advanced Armor

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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This release was published on openPR.