The Global Bullet Proof Jackets Market Insights Forecasts to 2030
- The Global Bullet Proof Jackets Market was valued at USD 1.30 Billion in 2021.
- The market is growing at a CAGR of 7.5% from 2021 to 2030
- The Global Bullet Proof Jackets Market is expected to reach USD 2.49 Billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The Global Bullet Proof Jackets Market is expected to reach USD 2.49 Billion by 2030, at a CAGR of 7.5% during the forecast period 2021 to 2030. Bullet Proof Jackets market growth is projected to be driven by rising demand for lightweight body armour from end-use sectors like defence, law enforcement, and civilians.
The market for bulletproof vests is made up of companies (groups, self-employed people, and partnerships) who sell the bulletproof vests that people wear to shield their torsos from weapons like knives, bullets, and bomb explosions. Bulletproof clothing deflects the blow and lessens or stops the attack's penetration, as well as any fragments from different explosions. These are often created by overlaying woven or laminated fibres with ceramic or metal ballistic plates. The market for bulletproof vests is expanding rapidly due to the increase in military spending in both developed and developing nations. The main cause is an increase in military spending, which has sped up the purchase of numerous armoured vests for the armed services. According to the Stockholm International Peace Research Institute (SIPRI), global military spending increased by 2.6% from 2019 to approximately $2 trillion in 2020. Therefore, the market for bulletproof vests is expanding as a result of the increase in military spending. An important development in the market for bulletproof vests is the creation of innovative products. To enhance the services offered, companies that make bulletproof vests are creating new products and engaging in a variety of partnerships. In 2020, the COVID-19 pandemic had an effect on the world economy in every industry area. As a result, this jacket's producers also ran into issues, which stopped both production and sales. The brief stoppage and lockdown had a negative effect on the production of bulletproof clothing. The growing awareness of workplace safety is another factor driving the demand for this product globally. Security worries, such as those pertaining to retail, healthcare, and transportation, are escalating swiftly as threats rise. Another reason driving the market for bulletproof jackets is the increasing amount of money spent by governments on military.
This research report categorizes the market for The Global Bullet Proof Jackets based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Bullet Proof Jackets Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each The Global Bullet Proof Jackets Market sub-segments.
Global Bullet Proof Jackets Market Report Coverage
|Market Size in 2021:||USD 1.30 Billion|
|Forecast Period 2021-2030 CAGR:||7.5%|
|2030 Value Projection:||USD 2.49 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||205|
|Tables, Charts & Figures:||128|
|Segments covered:||By Type, By End-use Type, By Protection Level, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Point Blank Solutions, Inc, Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V., MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, Canadian Armour Ltd.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the Soft Jacket segment dominated the market with the largest market share of 60.1% and market revenue of 0.78 Billion.
Based on the Type, the Global Bullet Proof Jackets Market is categorized into Hard Jacket and Soft jacket. In 2021, the Soft Jackets segment dominated the market with the largest market share of 60.1% and market revenue of 0.78 Billion. The market for soft jacket segment of bulletproof jackets is increasing in demand in military as it is made of a number of layers of woven and laminated fibres and protects security personnel and soldiers from bombs, shotguns, and small-caliber handguns. Additionally, Ballistic plates are frequently found within soft jackets which is making rapid growth in the market.
- In 2021, the II segment accounted for the largest share of the market, with 25.1 and a market revenue of 0.32 Billion.
Based on the Protection Level, the Global Bullet Proof Jackets Market is categorized into III, IIIA & IIIA+, III & III+ and IV. In 2021, the II segment accounted for the largest share of the market, with 25.1 and a market revenue of 0.32 Billion. The market for soft jacket segment of bulletproof jackets is increasing in demand in market as The level II body armor is suitable for council employees, officers, and even civilians. It provides enough protection to guarantee that someone can endure an assault without feeling burdened by the protection.
- In 2021, the Defense segment accounted for the largest share of the market, with 65.3% and market revenue of 0.84 Billion.
Based on the End-use, the Global Bullet Proof Jackets Market is categorized into Security & Law Enforcement, Civilians, and Defenses. In 2021, the Defense segment accounted for the largest share of the market, with 65.3% and market revenue of 0.84 Billion. The demand for bulletproof jackets have been increase in defense as attacks, violence, and threats increase globally, there is an increased need for civilian and military protection. As a result, the need for bulletproof clothing in the defense industries will rise.
Regional Segment Analysis of the Global Bullet Proof Jackets Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe emerged as the largest market for the Global Bullet Proof Jackets Market, with a market share of around 17.5% and 0.22 Billion of the market revenue in 2021.
- Europe emerged as the largest market for the Global Bullet Proof Jackets Market, with a market share of around 17.5% and 0.22 Billion of the market revenue in 2021. Europe region is rapidly increasing in market is due to better jacket production techniques and government funding schemes. These are the main factors that influence the European market. The anticipated period should see gradual growth in developing regions. This is brought on by a dearth of funding initiatives and cutting-edge technologies.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, In 2021, Asia Pacific had the largest percentage. China is projected to continue to be the top spender on the acquisition of bulletproof ballistic protection products during the projection period due to the significant active military and law enforcement agency personnel in nations like India, South Korea, and China. The ageing of current bulletproof vests and the rising border tensions between various nations in the region are likely to fuel market expansion.
The report offers the appropriate analysis of the key Protection Levels/companies involved within the Global Bullet Proof Jackets Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Point Blank Solutions, Inc
- Armor Express
- U.S. ARMOR CORPORATION
- MKU LIMITED
- ARGUN s.r.o.
- Infidel Body Armor
- Seyntex N.V.
- MARS Armor
- VestGuard UK Ltd
- BulletSafe Bulletproof Vests
- COMPASS INTERNATIONAL CORP. LTD
- Canadian Armour Ltd.
Key Target Audience
- Market Players
- Civilians Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In January 2022- Point Blank Enterprises Inc., a company based in India, unveiled the ORIGIN modular tactical vest platform.
- In June 2019- MKU Limited made an R&D investment expand its product offerings. The company has also developed an Integrated Load Distribution System (ILDS) for protective clothing.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the Global Bullet Proof Jackets Market based on the below-mentioned segments:
The Global Bullet Proof Jackets Market, By Type
- Hard Jacket
- Soft jacket
The Global Bullet Proof Jackets Market, By End-use
- Security & Law Enforcement
The Global Bullet Proof Jackets Market, By Protection Level
- IIIA & IIIA+
- III & III+
The Global Bullet Proof Jackets Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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