Bulletproof Vest Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Soft Vest and Hard Vest), Purpose (Military and Civilian), and Geography.

Market Snapshot

bulletproof vest market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for bulletproof vests is expected to register a CAGR of over 4%, during the forecast period. 

  • Growing military expenditure in almost every region around the world is expected to be the prime growth driver for the market. 
  • Additionally, the rise in terrorism and hostile activities around the world is forcing the countries to focus more on the protection of their dismounted infantry. This factor is prominent, particularly, in Asia-Pacific and the Middle East, where the instances of terrorist attacks on military and law enforcement agencies are increasing.
  • The heavy weight of the bulletproof vests is making it difficult for military personnel to wear and move freely on the battlefield. Technological integration and the use of composite materials may be helpful in this regard, making the vests light and increasing the mobility.

Scope of the Report

The report includes bulletproof vests for the military and for civilian purposes (which includes law enforcement agencies).

Type
Soft Vest
Hard Vest
Purpose
Military
Civilian
Geography
North America
US
Canada
Europe
UK
France
Germany
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
South Africa
Qatar
Rest of Middle East & Africa

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Key Market Trends

The Military Segment Projected to Dominate the Market during the Forecast Period

Currently, the military segment has the highest market share compared to the civilian segment, due to growing military expenditure, which is helping the militaries to invest in new body armor technologies and procure body armor to their infantry on a large scale. The increasing number of terrorist attacks and growing geopolitical issues are increasing the frequency of military operations, necessitating the demand for bulletproof vests for the military. Thus, the growth of the military segment is projected to increase during the forecast period.

bulletproof vest market

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North America Expected to Be the Largest Market during the Forecast Period

Currently, North America holds a major share in the bulletproof vest market. The United States continues to be the largest market for bulletproof vest products, and it may accelerate at a moderate pace, as the market is slowly becoming saturated in the country. In Asia-Pacific, the local security budget is growing at a rapid pace, especially in countries, like India, where law enforcement and even armed forces are under-equipped with bulletproof vests. The increase in the defense and homeland security budget is expected to boost the procurement on bulletproof vests in the region.

bulletproof vest market

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Competitive Landscape

The market is fragmented, with many players supplying to their local law enforcement agencies or to the militaries of their respective countries. Elmon SA, KDH Defense Systems Inc., DuPont, Honeywell International Inc., and US Armor are some of the prominent players in the market. Companies, like Honeywell, supply raw materials to other bulletproof vest manufacturers, like KDH Defense Systems Inc., which supply their own branded vests to the customers.

Major Players

  1. Elmon SA
  2. KDH Defense Systems Inc.
  3. DuPont
  4. Honeywell International Inc.
  5. US Armor

* Complete list of players covered available in the table of contents below

bulletproof vest market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Soft Vest

      2. 5.1.2 Hard Vest

    2. 5.2 Purpose

      1. 5.2.1 Military

      2. 5.2.2 Civilian

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 UK

        2. 5.3.2.2 France

        3. 5.3.2.3 Germany

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Mexico

        3. 5.3.4.3 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 UAE

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Qatar

        5. 5.3.5.5 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Vendor Market Share

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Elmon SA

      2. 6.4.2 KDH Defense Systems Inc.

      3. 6.4.3 DuPont

      4. 6.4.4 Honeywell International Inc.

      5. 6.4.5 US Armor

      6. 6.4.6 Wenzhou Start Co. Ltd

      7. 6.4.7 Hawk Protection (McGuckian)

      8. 6.4.8 Point Blank Enterprises Inc.

      9. 6.4.9 ArmorCo Advanced Armoring Products

      10. 6.4.10 Infidel Body Armor

      11. 6.4.11 Security Pro USA

      12. 6.4.12 Realdream (Zhuhai) Electronics Co. Ltd*

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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