DUBLIN--(BUSINESS WIRE)--The "The Global Body Armor and Personal Protection Market 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Global body armor and personal protection market is expected to grow at a CAGR of 4.55% to value US$3.5 billion by 2028. The cumulative market for global expenditure on military body armor and personal protection will reach US$30.6 billion over the forecast period.
The demand for body armor and personal protection equipment is expected to be driven by modernization initiatives undertaken by various defense forces and law enforcement agencies across the world, and internal security threats, such as terrorism, insurgency and organized crime.
The trend towards the development of lightweight ballistic material is one of the major factors propelling defense authorities towards procuring newer-generation personal protection equipment. As such, countries are focusing on manufacturing better solutions such as ballistic inserts, lightweight under suits, combat helmets, anti-mine boots and flame resistant uniforms that provide the benefits of comfort and enhanced protection to ground forces.
During the forecast period, the soft armor segment is expected to account for the largest share of spending, accounting for 36% of the overall global market. The protective clothing segment is expected to account for the second largest share of 22% of the global market owing to the initiatives undertaken by various governments to supply specialized leather gloves and coats for extreme cold climates to troops deployed in high altitude areas, along with the deployment of improved fire resistant uniforms for ground troops.
Hard armor is anticipated to be the third largest segment over the forecast period. Driven by large scale procurement programs in countries such as India, China, and Pakistan, the Asia-Pacific region is expected to be one of the fast growing markets in terms of the hard armor segment with a CAGR of over 6%. North America and the Middle East are projected to account for the second and third largest markets in this segment over the forecast period.
The body armor and personal protection market is expected to be led by North America with a share of 29.1% over the forecast period, followed by Europe and Asia-Pacific. The Middle Eastern market for military body armor and personal protection is expected to account for 14.8%, followed by the African and Latin American markets respectively.
- BAE Systems
- ArmorSource LLC
- Survitec Group Limited
- Anjani Technoplast Ltd
- M Cubed Technologies
- Sarkar Defence Solutions
- Bates Footwear, Inc.
- Tata Advanced Materials Limited
- Bluewater Defense, Inc.
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