BODY ARMOR PLATES MARKET SIZE IS ESTIMATED TO REACH $2.5 BILLION BY 2027 | CAGR 5.2% | GRAND VIEW RESEARCH, INC.
According to a new report published by Grand View Research, the rising demand for armor suits from defense and law enforcement agencies worldwide increases the body armor plate market’s growth.
The global body armor plates market size is expected to reach USD 2.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.2% from 2020 to 2027. The rising demand for armor suits from defense and law enforcement agencies worldwide increases the body armor plate market’s growth. Also, emerging economies, such as India and China, are increasingly focusing on replacing legacy military equipment and increasing their defense budget. For instance, in May 2020, China hiked its defense budget to USD 179.0 billion compared to USD 177.6 billion in 2019.
However, it has been the lowest hike in recent years due to the significant economic disruption caused by the novel coronavirus outbreak. Further, cross-border conflicts and rivalries are key forces for a surge in demand for plates and shields. For instance, in February 2020, the People’s Liberation Army (PLA), an Armed force of China, the PLA has held open tenders to procure 467,000 units of protection shields for enhanced bulletproof vests and 930,000 units of protection shields for universal bulletproof vests. The PLA has decided to procure protection armors in the wake of cross border conflicts with neighboring countries.
Further, the rising crime and riot instances in the civil part of society worldwide increase the need for personal security and safety among residents. Thus, the demand for protection plates increases, especially among people residing in crime-prone areas, jewelry store owners, embassy personnel overseas, and executive protection personnel. Moreover, in the past few years, several schools across the U.S. have been impacted by shootings. The incidents have led to the deaths of many faculty members and students. With rising concerns for students’ and faculty members’ safety, various proposals have been made to use body armor for both the students and faculty members. For instance, bulletproof backpacks have been tested in the global market for use by students.
In recent years, the market witnessed a surge in demand for body armor plates due to their advanced lightweight feature, which gives comfort and flexibility to the body with the highest protection capability level. The new feature is garnering demand from a different wing of armed forces. For instance, in November 2018, the U.S. Marine Corps released a request for proposals from defense firms for new lightweight body armor plates. The Marine Corps was looking for protection plates around 38.0% lighter than the plates in use at that time. Moreover, it was looking to procuring a minimum of 60,000 and a maximum of 680,706 lightweight plates. The escalating need to ensure soldiers and military personnel’s safety is leading to a large-scale procurement of body armor plates worldwide as well.
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Body Armor Plates Market Report Highlights
- The market is expected to witness a CAGR of 5.2% over the forecast period due to the defense suit’s increasing requirement with enhanced stab resistance and ballistic for soldiers
- The market is susceptible and is governed by various regulations and acts. It is tested by three regulatory bodies, comprising the National Institute of Justice (NIJ), United States Department of Defense (DoD), and Underwriters Laboratories (UL India)
- In Asia Pacific, the market is anticipated to witness significant growth owing to the significantly increasing investments in body armor plates
- Technological advancements and the increasing availability of lightweight body armor globally are expected to drive the market over the forecast period
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Body Armor Plates Market Segmentation
Grand View Research has segmented the global body armor plates market based on level, application, material, and region:
Body Armor Plates Level Outlook (Revenue, USD Million, 2016 – 2027)
- Level IIA
- Level II
- Level IIIA
- Level III
- Level IV
Body Armor Plates Application Outlook (Revenue, USD Million, 2016 – 2027)
- Defense
- Law Enforcement Protection
- Civilians
Body Armor Plates Material Outlook (Revenue, USD Million, 2016 – 2027)
- Steel
- UHMWPE
- Aramid
- Composite Ceramic
- Others
Body Armor Plates Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Middle East and Africa (MEA)
- Saudi Arabia
- Israel
- UAE
List of Key Players of Body Armor Plates Market
- Aegis Engineering Ltd.
- Armored Republic, LLC
- BAE Systems
- Ballistic Body Armour Pty.
- Ceradyne Inc. (Subsidiary of 3M)
- Craig International Ballistics Pty Ltd
- Hellweg International
- Kejo Limited Company
- Pacific Safety Products
- Point Blank Enterprises, Inc.
- Safariland, LLC
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Browse More Related Report:
Body Armor Market Size, Share & Trends Analysis Report By Level, By Application (Law Enforcement Protection, Defense), By Material, By Product Type, By Product Style, By Region, And Segment Forecasts, 2021 – 2028
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