LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global ballistic protection market since 2015 and the market is poised to grow by USD 2.77 billion during 2019-2023, progressing at a CAGR of over 5% during the forecast period. Request Free Sample Pages
Read the 123-page research report with TOC on "Ballistic Protection Market Analysis Report by Application (Defense, Homeland security, and Commercial), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".
The growing focus towards reducing the weight of ballistic protection equipment and innovations in materials used for bulletproof vests are anticipated to boost the growth of the market.
Carrying survival kits, weapons, and other associated equipment such as optronic systems, radios, navigation, and range finders to conflict zones increases the burden on soldiers. Additionally, the weight of the body armor restrains the infantry personnel from being effective war fighters by restricting their mobility and agility. This is encouraging market players to use lightweight materials to manufacture ballistic protection equipment. For instance, Honeywell International uses an ultra-high-molecular-weight polyethene, Spectra fiber, which offers comfort and flexibility and is 60% stronger than aramid fiber. Similarly, Fibrotex in collaboration with Israel Defense Forces, developed a next-generation two-sided combat uniform, FIGHTEX, using a smart fabric. The light-weighting of ballistic protection equipment ensures national safety and security by enhancing military capabilities. Thus, the growing focus towards reducing the weight of ballistic protection equipment is expected to drive market growth during the forecast period.
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Major Five Ballistic Protection Market Companies:
3M is headquartered in the US and operates the business under various segments such as Industrial Business, Safety and Graphics Business, Health Care Business, Electronics and Energy Business, and Consumer Business. The company provides a comprehensive range of ballistic protection equipment for soldiers.
BAE Systems is headquartered in the UK and offers products through the following business units: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Platforms & Services (UK), and Platforms & Services (International). The company provides individual protection products such as helmets, hard body armor, and more.
DowDuPont is headquartered in the US and operates under various business segments, namely Agriculture, Performance materials and coatings, Industrial intermediates and infrastructure, Packaging and specialty plastics, Electronics and imaging, Nutrition and biosciences, Transportation and advanced polymers, and Safety and construction. The company manufactures body armor manufactured using DuPont Kevlar material.
Honeywell International is headquartered in the US and offers products through the following business segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers advanced combat helmets and ballistic composite materials.
Koninklijke Ten Cate
Koninklijke Ten Cate is headquartered in the Netherlands and offers products through the following business segments: TenCate Protective Fabrics, TenCate Advanced Composites, TenCate Advanced Armor, TenCate Geosynthetics, and TenCate Grass. The company provides a wide range of protective fabrics and armor capabilities.
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Ballistic Protection Application Outlook (Revenue, USD Million, 2019 - 2023)
- Homeland security
Ballistic Protection Regional Outlook (Revenue, USD Million, 2019 - 2023)
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