Bulletproof Vest Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Bulletproof vest is an armor that helps to protect soldiers from bullets, knives, explosive explosion by absorbing the impact and preventing the attack from penetrating the body. The soft vest is made of various layers of woven and laminated fabrics that protect soldiers and security guard from small shotgun, small caliber hand gun and explosive. Ballistic plates are also placed within soft vest. In addition, metal plates may be used with a soft jacket, offering additional protection against rifles and knife stabbing. These vests use various layers of strong fibers that bend bullets, distributing their power over a greater portion of the fiber, thereby mushrooming the bullet into a dish shape.

MARKET SCOPE

The "Global Bulletproof Vest Market Analysis to 2031" is a specialized and in-depth study of the bulletproof vest market with a special focus on the global market trend analysis. The report aims to provide an overview of bulletproof vest market with detailed market segmentation by type, protection level, end user and geography. The global bulletproof vest market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bulletproof vest market players and offers key trends and opportunities in the bulletproof vest market.

MARKET SEGMENTATION

•   On the basis of type, the market is segmented as soft vest, and hard vest.
  
•   On the basis of protection level, the market is segmented as level I, level II, level III, and level IV.
  
•   Based on type of end user, the market is segmnted as miltary, and law enforcement.
  

MARKET DYNAMICS

Drivers:

•   Growing military spending the world
  
•   Increasing security threats both internally and externally around the world and growing consciousness for commercial security
  
•   The implementation of newer technology in the bulletproof vest such as nanotechnology
  

Restraints:

•   The high cost of bulletproof jackets
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), South America. The Bulletproof Vests market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the Bulletproof Vests market.

IMPACT OF COVID-19 ON BULLETPROOF VESTS MARKET

The COVID-19 pandemic has an influence on the global economy by reducing demand, disrupting supply chains in the market, and having a financial impact on businesses and financial markets. Covid-19 has had an impact on the defense industry. The industry's dynamic has shifted as a result of lower demand and delayed product deliveries. The market's development is projected to be slowed by the deferral of defense product manufacture. For instance, the Indian Military Affairs Department has instructed all of its armed forces to postpone capital acquisitions due to budget cuts brought on by COVID-19 in 2021. However, now that life is returning to normal, demand for the products is expected to rise expectedly. The supply-demand chain will be back in service and the market will maintain the pace in the coming years (2021

 2031). For instance, in February 2021, the Chinese government announced its plan to procure approximately 1.4 million body armor units worth US$ 1.85 billion for the military personnel of the People's Liberation Army. Under this plan, the army will receive 467,000 units of plates for enhanced bulletproof vests and 930,000 units of plates for universal bulletproof vests in the coming years. Additionally, in April 2021, according to Stockholm International Peace Research Institute (SIPRI), total global military expenditure rose to ~US$ 1,981 billion last year, an increase of ~2.6 percent in real terms from 2021, this will directly create additional demand for the bulletproof vests, which boost the growth of the market during the forecast period (2021

 2031).

MARKET PLAYERS

The report covers key developments in the Bulletproof Vests market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Bulletproof Vests market are anticipated to lucrative growth opportunities in the future with the rising demand for Bulletproof Vests in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Bulletproof Vests market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Armor Express
  
•   Blackhawk
  
•   Canadian Armour
  
•   DuPont
  
•   Elmon Systems Pvt Ltd.
  
•   Point Blank Enterprises, Inc.
  
•   U.S. Armor Corporation
  
•   EnGarde B.V.
  
•   VestGuard UK Ltd.
  
•   Indian Armour System pvt ltd
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Bulletproof Vest Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Type Soft Vest Hard Vest By Protection Level Level I Level II Level III Level IV By End User Military Law Enforcement
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Armor Express Blackhawk Canadian Armour DuPont Elmon Systems Pvt Ltd. Point Blank Enterprises, Inc. U.S. Armor Corporation EnGarde B.V. VestGuard UK Ltd.