Body Armor Market is Forecasted to Reach US$ 3.4 billion in 2028, Says Stratview Research

The global Body Armor market is projected to witness a growth rate of 3.7% annually from 2023 to 2028, with an anticipated size of US$ 3.4 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Body Armor market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 3.4 billion
Growth (CAGR): 3.7% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 7
Number of Tables & Graphs: 100+

Segment Insights on the Body Armor Market:

The global Body Armor market is segmented based on armor type, product type, material type, level of protection type, end-user type, mode of operation type, and region.

Based on armor type - The market is segmented into hard body armor and soft body armor. The hard body armor segment is expected to remain dominant, accounting for a market share of more than 65% in 2022. Hard body armor consists of plates usually made up of steel, ceramic, or composite materials, which are covered and interlocked with one another via a more pliable armor shell, the demand for hard body armor is primarily being driven by the rising geopolitical conflicts coupled with the growing threat of terrorism, across the world.

Based on the product type- The market is segmented into ballistic-resistant armor, stab-resistant armor, combined-resistant armor, and ICW armor. Among these armor types, ballistic-resistant armor held a significant share of more than 45% in 2022, owing to its large usage in hard as well as soft body armor and wide application in military and law enforcement operations. Concurrently, combined resistant armor is expected to witness the fastest growth during the forecast period, owing to its additional soft protection level and high demand for law enforcement applications.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/2923/body-armor-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

• North America is expected to remain the largest market, accounting for a share of more than 55% in 2022. This growth is majorly attributed to the large expenditures by the US Department of Defence (DoD) and the US Department of Homeland Security (DHS) on body armor products for the protection of their armed troops and homeland security personnel. The region is also home to body armor market-leading companies, such as Point Blank Enterprises, Inc., Safariland, LLC, and Armor Express, which are also the major contractors for the US DoD and the US DHS.

• Likewise, the Asia-Pacific region is expected to witness the fastest market growth, during the forecast period. Driven by increasing military expenditure in the countries such as China and India, coupled with rising terror threats and geopolitical tensions. Also, the presence of local companies, such as Beijing Tongyizhong New Material Technology Corporation and Senken Group Co., Ltd, is increasing the regional market attractiveness.

Body Armor Market Drivers:

Some of the key drivers listed in the report are given below.
• Increase in terrorism, mass shootings, and gun violence across the globe.
• Law enforcement officers and military personnel have come to heavily rely on body armor, in order to ensure their protection and survival, during anti-terrorist military operations.
• Cross-border conflicts and geopolitical tensions are on the rise around the world.
• The Russia-Ukraine crisis serves as a recent example. Such factors propel the development and sales of body armor products globally.

Top Companies in the Body Armor Market:
Stratview Research has identified the following companies as the top market players.
• Armor Express
• Beijing Tongyizhong New Material Technology Corporation
• Craig International Ballistics Pty. Ltd.
• Mars Armor
• Mehler Vario System
• Point Blank Enterprises, Inc.
• Safariland, LLC.
• Senken Group Co., Ltd
• U.S. ARMOR CORPORATION
• XTEK Group
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Body Armor Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.