Press release
Bulletproof Vest Market 2024-2033 Size, Share, Trends, Analysis And Forecast
Bulletproof Vest Market
The Business Research Company presents an extensive market research report on the "Bulletproof Vest Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Bulletproof Vest industry. This report on Bulletproof Vest market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The bulletproof vest market size has grown strongly in recent years. It will grow from $1.64 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to rise in crime rates, geopolitical conflicts, military modernization, government regulations and mandates, population growth.The bulletproof vest market size is expected to see strong growth in the next few years. It will grow to $2.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Key Market Players:
Wenzhou Start Co Ltd., VestGuard UK Limited, U.S. Armor Corporation, Point Blank Enterprises Inc., MKU Limited
Market Drivers:
According to the Bulletproof Vest Market Report 2024 by The Business Research Company, The growth in military expenditure of developed and emerging countries is significantly contributing to the growth of the bulletproof vest market. It is mainly due to an increase in military expenditure, which has further propelled the large-scale procurement of bulletproof vests for the armed forces. According to Stockholm international peace research institute (SIPRI), the expenditure on the military in the world has raised to almost $2 trillion in 2020, which is an increase of 2.6% from 2019. Therefore, the growth in military expenditure is driving the growth of the bulletproof vest market.
More information about the Global Bulletproof Vest Market Report -
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Market segments for Bulletproof Vest include:
1) By Type: Soft Vest, Hard Vest
2) By Material: Kelvar, Ultra High Molecular Weight Polyethylene, Graphene
3) By Application: Covert, Overt
4) By End User: Military, Law Enforcement
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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