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Bulletprrof Vest Global Market Report 2024 by The Business Research Company | Wenzhou Start Co Ltd, VestGuard UK Limited, U.S. Armor Corporation, Point Blank Enterprises Inc., MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International Inc., EnGa
Bulletprrof Vest Market Size And Growth
The bulletproof vest market size is expected to see strong growth in the next few years. It will grow to $2.51 in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing concerns about personal safety and security, rising defense spending, expanding civilian markets, increasing urbanization . Major trends in the forecast period include smart armor integration, sustainability and eco-friendly materials, lightweight and flexible designs, multi-threat protection, body-worn cameras.
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Bulletprrof Vest Market Major Segments
The bulletprrof vest market covered in this report is segmented -
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
Key Driver - Rising Military Expenditure Boosts Bulletproof Vest Market Growth
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.
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Prominent Trend - Lightweight Bulletproof Vests
Innovative product development is a key trend gaining popularity in the bulletproof vest market. Companies manufacturing bulletproof vests are developing new products and undergoing various collaborations to improve the services that are provided. India-based DRDO (Defense Research and Development Organization) developed a lightweight bulletproof jacket, which would weigh around 9kgs, and meet the qualitative requirements for army people. The indigenous technology that is used in this jacket would reduce its weight from 10.4 kg to 9 kg.
Bulletprrof Vest Market Players
Major companies operating in the bulletprrof vest market include Wenzhou Start Co Ltd, VestGuard UK Limited, U.S. Armor Corporation, Point Blank Enterprises Inc., MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International Inc., EnGarde LLC, E. I. du Pont de Nemours and Company, Armourshield Ltd, Armor Express Inc., Central Lake Armor Express Inc., Compass International Corp, Condor Outdoor Products Inc., White Horse Research and Development Inc., Renco Corporation, Tex Tech Industries Inc., SAE International, Canadian Armour Ltd, SafeVest LLC, AAM Armor LLC, AA Shield Ltd., Ace Link Armor Inc., Adept Armor LLC, Alpine Armoring Inc., American Body Armor and Equipment Inc., Angel Armor LLC, Anorak Hellas Ltd., ARGUS Armour Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the bulletproof vest market in 2023. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the bulletprrof vest market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bulletprrof Vest Market Report Structure
3. Bulletprrof Vest Market Trends And Strategies
4. Bulletprrof Vest Market - Macro Economic Scenario
5. Bulletprrof Vest Market Size And Growth
…..
27. Bulletprrof Vest Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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