According to a new market report published by Lucintel, the future of the global ballistic protection market looks promising with opportunities in the body armor and vehicle armor markets. The global ballistic protection market is expected to grow with a CAGR of 1.8% from 2021 to 2027. The major drivers for this market are increasing defense budget in developing countries, technological advancements, and increasing terrorism.
In this market, body armor and vehicle armor are used for ballistic protection. Lucintel forecasts that the vehicle armor will remain the largest segment by value due to increasing defense budget in developing countries, better protection level, and geopolitical conflicts.
North America will remain the largest region by value during the forecast period due to highest procurement of body armor and vehicle armor in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing usage of lightweight materials and improved wear-ability of body armors. BAE System PLC. Rheinmetall AG, Point Blank Enterprises, Inc., Avon Rubber PLC, Morgan Advanced Materials PLC, and Royal Ten Cate (TenCate) are among the major suppliers of ballistic protection.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global ballistic protection market by type, application and region and has prepared comprehensive research report entitled, “Growth Opportunities in the Global Ballistic Protection Market 2022-2027: Trends, Forecast, and Market Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global ballistic protection market by type, application, and region as follows:
By Type (Value ($ million) from 2016 to 2027):
Vehicle Armor
Body Armor
Soft Body Armor
Hard Body Armor
Protective Headgear
By Application (Value ($ million) from 2016 to 2027):
Defense
Homeland Security
Civil
By Region (Value ($ million) from 2016 to 2027):
North America
Europe
France
Germany
United Kingdom
Asia Pacific
The Rest of the World
This 113 - page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link www.lucintel.com/ballistic-protection-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global ballistic protection market by type (vehicle armor and body armor), by application (defense, homeland security, and civil), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in this market?
Q.5 What are the business risks and threats of this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last 5 years?