Next Generation Bullet Proofing Market Moving Towards a Brighter Future
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Defense expenditure around the world has been increasing. This is visible in arms and ammunition market. It is expected government defense agencies will invest in acquiring higher efficient bullet proofing in form of- vest, military vehicle and aerospace. These demands will be directly proportional to the advancements of arms industry and innovations in bulletproofing technology.
Based on the type, the next generation bullet proofing market is segmented into bullet proof jackets, explosion-proof blankets, body armor, bulletproof glass and others. In 2015, the bulletproof glass segment anticipated to be the major market and anticipated to be the same during the forecast period of 2016 – 2024. The major factor boosting the demand of the bulletproof glass is due to uses in the different end user industries such as automotive industry, financial services industry, construction industry, marine industry and aerospace industry. In addition, bulletproof glass is also used in various places such as armored cash trucks, bank security glass, ATM booths, residential buildings, premium vehicles and display case among others.
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Based on the raw material, the next generation bullet proofing market is segmented into kevlar, polycarbonate, polyurethane, ceramic, titanium and thermoplastic among others. In 2015, the titanium segment anticipated to be the major market and anticipated to be the same during the forecast period of 2016 – 2024. The major factor boosting the demand of the market is due to uses in the different product such as explosion-proof blankets, body armor and bulletproof glass among others.
Based on the end user industries, the next generation bullet proofing market is segmented into financial services industry, bank vault, bomb suit, riot shield, automotive industry, armored fighting vehicle, construction industry, aerospace industry and marine industry, bulletproof vest, and military vehicle among others. Growth of the next generation bullet proofing market has been increasingly driven by increasing automotive industry globally. In addition, rising automotive industry coupled with growing demand for value-added automobile products from tech-savvy consumers is anticipated to further fuel the demand for next generation bullet proofing in the automotive industry segment. Moreover, the revenue from increasing financial industry is estimated to dominate due to growing development of financial institutions and services in developing countries such as India and Brazil among others due to rising need for capital.
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Based on the regions, the next generation bullet proofing market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. North America holds the major market share followed by Europe. This is due to increased consumption of bulletproof glass as a security purpose in the region. However, Middle East and Africa is anticipated to record maximum CAGR during the forecast period of 2016 – 2024.
Key manufacturer of bullet proofing are Saint-Gobain (France), China Glass Holdings Limited, S.A (Hong Kong), China Glass Specialty AG (China), Armormax (USA), Texas armoring, Asahi Glass co. Ltd. (Japan), Nippon Sheet Glass (Japan), GKN Aerospace (UK), International Armoring Corporation (IAC) and Chongqing Dameng Group (China) among others.
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