The Ballistic Protection Market is projected to expand significantly, reaching USD 16.9 billion by 2027 from USD 13.4 billion in 2022, with a compound annual growth rate (CAGR) of 4.7%. The growth is attributed to several factors, including rising political unrest in emerging economies, which is driving the demand for advanced ballistic protection solutions.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=30112278
Market Segmentation and Insights
- Threat Level Segmentation:
- Level IV and Above: Expected to lead the market. Level IV armor plates are designed to defeat armor-piercing projectiles and are tested with single impacts of calibers specified in the National Institute of Justice (NIJ) standard. These armors provide protection against high-velocity bullets and are predominantly used by tactical police teams and military personnel.
- Level II and IIA, Level III and IIIA: These levels also contribute significantly to the market, with varying degrees of protection suitable for different threat environments.
- Application Segmentation:
- Homeland Security: This segment is anticipated to grow at the highest CAGR. Homeland security personnel require ballistic-resistant body armor to protect against specific threats during missions. Equipment such as body vests, ballistic helmets, and gloves are essential for their safety. Ballistic helmets, reinforced with ceramics and thermoplastics, offer protection against fragmentation and small-arms fire.
- Military: Continues to be a major application segment with ongoing demand for advanced ballistic protection solutions for defense personnel.
Regional Insights
Asia Pacific: This region is expected to witness the highest CAGR during the forecast period. Factors contributing to this growth include:
- Increased defense spending in countries like Australia, India, China, Japan, and South Korea.
- Economic expansion in the region.
- Government support and collaboration with local industries to facilitate procurement processes.
- Rising insurgent activities and the use of lethal weapons like improvised explosive devices (IEDs) and bombs, necessitating advanced ballistic protection systems.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=30112278
Key Market Players and Strategies
Leading companies in the ballistic protection market include:
- BAE Systems (UK)
- Avon Protection (US)
- Rheinmetall AG (US)
- Tencate Advanced Armor (Netherlands)
- Point Blank Enterprises (US)
- SAAB AB (Sweden)
These companies are focusing on:
- Securing contracts to enhance their global presence and gain a competitive edge.
- Entering new markets with technologically advanced platforms.
- Launching new products and advancements to meet the evolving demands of the market.
- Adopting strategies such as contracts to strengthen their market position.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]