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Bulletproof Vest Market is Anticipated to Expand upto $2.6 Billion in 2029
Bulletproof Vest Market
What Is the Forecasted Market Growth Rate of the Bulletproof Vest Industry?
The market size for bulletproof vests has been experiencing robust growth in the past few years. An escalation from $1.75 billion in 2024 to $1.9 billion in 2025 is expected, given a compound annual growth rate (CAGR) of 8.5%. The historical growth can be credited to factors such as increasing crime rates, geopolitical tension, modernizing military tactics, governmental rules and regulations, and population growth.
How Will the Bulletproof Vest Market Size Evolve From 2025 to 2029?
In the coming years, robust expansion is anticipated in the bulletproof vest market, surging to a value of $2.6 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The projected growth within the forecast period can be linked to heightened concern around personal safety and security, escalating defense expenditure, burgeoning civilian markets, and growing urbanization. Key trends expected within the forecast period encompass the incorporation of smart armor, use of sustainable and eco-friendly materials, lightweight and flexible designs, effective protection against multiple threats, and the incorporation of body-worn cameras.
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What Are the Main Growth Drivers in the Bulletproof Vest Market Today?
The expected growth of the bulletproof vest market is tipped to be driven by increasing military expenditure. The term military expenditure pertains to the funds set aside by governments for defense activities and the militarization of their armed forces. This rise often correlates with increasing security risks, geopolitical clashes or the motivation to bolster domestic defense capabilities. To improve the overall efficiency of their missions, bulletproof vests offer multiple advantages such as enhancing safety for soldiers, reducing the number of casualties and subsequently fostering increased operation readiness. Investment in superior body protective gear guarantees that military personnel are better positioned to survive potential dangers, providing a corresponding reduction in medical expenses. The Stockholm International Peace Research Institute, an organization based in the US, stated that in April 2024, the world military expenditure, calculated as military spending as a percentage of worldwide GDP, increased to 2.3 percent in 2023. Consequently, the bulletproof vest market benefits from an increase in military expenditure.
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Which Bulletproof Vest Market Segment Is Expected to Lead Through 2029?
The bulletproof vest market covered in this report is segmented -
1) By Type: Soft Vest, Hard Vest
2) By Material: Kevlar, Ultra High Molecular Weight Polyethylene, Graphene
3) By Application: Covert, Overt
4) By End User: Military, Law Enforcement
Subsegments:
1) By Soft Vest: Level IIA, Level II, Level IIIA
2) By Hard Vest: Level III, Level IV
Which Market Trends Are Expected to Dominate Bulletproof Vest Industry Growth?
Product innovation is a rising trend being noticed prominently in the bulletproof vest market. Firms that produce these vests are constantly coming up with new products and joining forces with other organizations to augment their service offerings. For instance, the Defense Research and Development Organization (DRDO) in India has developed a lightweight bulletproof jacket, weighing roughly 9 kgs, which caters to the specific qualitative needs of the army. The use of indigenous technology in the production of this jacket has enabled its weight to be reduced from 10.4 kgs to 9 kgs.
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Which Companies Hold the Largest Market Share in the Bulletproof Vest Sector?
Major companies operating in the bulletproof 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., 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.
Where Is the Bulletproof Vest Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the bulletproof vest market in 2024. 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.
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