London, Dec. 12, 2023 (GLOBE NEWSWIRE) -- In a remarkable upswing, the global body armor market that has been valued at approximately US$2.9 Bn as of 2022, will catapult to US$4.6 Bn by the end of 2030. The market valuation is expected to exhibit a robust CAGR of 5.9% during forecast period, 2023 – 2030.
A recent report released by Fairfield Market Research shows that the escalating growth of the body armor market is underpinned by multifaceted factors, including intensifying security concerns worldwide, burgeoning military and defence budgets, technological strides in protective gear, and an escalating demand for personal safety solutions in the face of rising threats.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$2.9 Bn | |
| Estimated Market Size in 2030 | US$4.6 Bn | |
| CAGR | 5.9 % | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | BAE Systems Inc., Point Blank Enterprises, DuPont de Nemours, Inc., Honeywell International, SafariLand LLC, 3M Company, S. Armor Corporation, Condor Outdoor Products, Sarkar Defense Solutions, Ballistic Body Armour, Armor Express, EnGrade Body Armor, MKU Limited, Revision Military Inc., Protech Tactical | |
Increasing security concerns, from terrorist threats to urban violence, propel the demand for advanced body armor solutions across law enforcement, military, and civilian sectors. Technological advancements, regional military modernisation efforts, and the evolving landscape of law enforcement needs collectively contribute to rapid expansion of the market.
“With smart materials, nanotechnology, and wearable devices emerging as trends, the market is set to evolve further, offering advanced protection solutions across sectors,” says the company analyst.
Key Research Insights
- Level I body armor, with its lightweight and discreet design, captures the largest market share, catering to various applications, including civilian use.
- Upheld by soaring demand for high-quality, customised body armor solutions prioritizing officer safety, the largest market share by application is held by law enforcement protection.
- Affordability, and durability make steel the market leader in terms of material, especially in budget-friendly armor for law enforcement agencies, and civilian buyers.
Insights into Segmentation Analysis
Level I Body Armor Retains Leadership
Renowned for its versatility and lightweight design, level I body armor secures the largest market share. Its inconspicuous profile and comfort make it a popular choice for everyday use, especially in law enforcement and civilian applications where concealment and comfort are the paramount considerations.
Despite its basic protection against small-caliber firearms, its widespread adoption is attributed to its comfort and concealability.
Application for Law Enforcement Protection Leads
The largest market share belongs to law enforcement protection due to the extensive use of body armor by police forces globally. As agencies prioritize officer safety, advanced protection solutions are sought, driving the adoption of higher-level armor.
The segment captures the lion’s share of the market valuation, reflecting sizably large demand from law enforcement agencies. These agencies prioritise officer safety and seek high-quality, customised body armor solutions for both critical and routine operations.
Government budgets allocated for law enforcement further support the procurement of body armor, making this segment dominant in the market.
Steel Reigns Supreme over Other Materials
Proven durability and cost-effectiveness propel steel material to capture the largest market share. Offering reliable protection against ballistic threats, steel plates are favored for military and law enforcement applications, balancing performance, and affordability.
Widely used for entry-level and budget-friendly armor, steel remains a top choice for law enforcement agencies, security personnel, and civilians seeking cost-effective protection without compromising safety.
Key Report Highlights
- Liquid armor stiffens on impact, shape-memory alloys adapt—enhancing protection and adaptability.
- Revolutionising body armor with carbon nanotubes and graphene for superior strength, reduced weight, and nano-coatings providing advanced defence.
- Real-time data from smart helmets, vests, and suits with sensors enhances safety and decision-making for military and law enforcement personnel.
Insights into Regional Analysis
North America's Dominance to Prevail Through 2030
With a substantial defence budget, and a focus on security measures, North America continues to represent the largest market share in the body armor market.
The region commands owing to a robust and well-funded law enforcement sector, a significant civilian market driven by personal safety concerns, and military expenditures that prioritize modernised protective gear. Stringent regulatory standards ensure reliability, instilling confidence in customers.
Asia Pacific to Take a Sprint
The Asia Pacific region will experience the highest CAGR during the forecast period, driven by military modernisation, rising security concerns, and expanding law enforcement agencies.
This regional market thrives significantly on the back of territorial conflicts, and remarkably increasing defence budgets over the recent past. Economic growth, urbanisation, and a growing middle class together contribute to higher spending on personal security, propelling civilian demand for body armor.
Key Competitors in Body Armor Industry
- DuPont de Nemours, Inc.
- BAE Systems Inc.
- Point Blank Enterprises
- Honeywell International
- 3M Company
- SafariLand LLC
- Condor Outdoor Products
- Armor Express
- S. Armor Corporation
- EnGrade Body Armor
- Sarkar Defense Solutions
- MKU Limited
- Ballistic Body Armour
- Protech Tactical
- Revision Military Inc.
Browse Global Body Armor Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Level Coverage, By Application Coverage, By Material Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/body-armor-market
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