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Ballistic Protection Materials & Equipment Market 2019-2024; Growth Forecast & Industry Share Report

Author : Rahul Varpe | Published Date : 2019-05-23 

Rising incidents of terrorism and Naxalite movements across the world is a key factor driving the global ballistic protection materials and equipment market. To tackle with increasing terrorism as well as Naxalite movements along with the internal and external tensions, government of different countries across the globe are increasing their defense budgets to provide the ballistic protection measures to their security forces. 

This trend of providing ballistic protection measures to the citizen and security forces by the government is expected to continue, which will boost the global ballistic protection materials and equipment market during the forecast period.

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According to a new research report by Global Market Insights, Inc. Ballistic Protection Materials & Equipment Market size will surpass USD 2.4 billion by 2025. Regulations against volatile organic compounds (VOCs) emission across different industries, imposed by different international and national regulatory bodies are the key factors which will have negative impact on the global ballistic protection materials and equipment market in the forecast timeframe.

Different types of materials used in ballistic protection includes carbon fiber composites, aramid, glass fiber & thermoplastic, carbon fiber composites, ceramic, metal, jute and wool. Aramid is used significantly by the key players engaged in the ballistic protection market, owing to its excellent properties such as high strength, low flammability, etc. The segment is anticipated to witness gains of approximately 5.5% during the period 2019-2025. Kevlar, Nomex, Twaron, are widely used brands of aramid fibers by the several players engaged in manufacturing of ballistic protection equipment across the world.

Ballistic protection materials and equipment finds broad application in defense & law enforcement, homeland security, commercial field as well as in office and home walls, trains, etc. Defense and law enforcement contributed the largest share to ballistic protection materials and equipment market and is projected to grow at CAGR of approximately 5.0% by 2025.

Ballistic protection materials are widely used in manufacturing of several types of ballistic protection equipment which mainly include helmets, ballistic panels, protective vests & jackets, shields, gloves & shoes, etc. Protective vests and jackets are the personal armor used to protect from bullets, fired projectiles, shrapnel from explosions, etc. Protective vests held the largest share of ballistic protection materials and equipment market owing to rising demand from homeland security and defense & law enforcement applications.

Presently, North America holds the highest share of global ballistic protection materials and equipment market, followed by Europe. In 2018, North America ballistic protection materials and equipment market was valued close to USD 600 million and is anticipated to grow with a CAGR close to 4.5.% during the forecast period.

Global ballistic protection materials and equipment market is consolidated with major players constituting the major chunk of the total industry share in 2018. Key players engaged in market include Teijin Limited, Texas Armoring Corp, DuPont, DSM, Honeywell International Inc, Protective Enterprises LLC, Homeland Security Group Intl, Armor Holdings, Toyobo, Protech Solutions, Inc, Evolution Armor, Waco Composites, etc.

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Major players in market are focusing on increasing the production capacity of ballistic materials to meet the rising demand in the market. For instance, DuPont announced that it will invest USD 500 million to increase its production capacity of Kevlar used in military body armor in September 2017.


 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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