Body Armor Market Scope and Size by 2031
Body armor is one of the safety equipment used majorly in the defense industry. It also has strong demand from the police and law enforcement sector with the rising threat of terrorism and violence on the road. Further, lowering prices with rising competition and increasing material quality is enhancing the body armor strength. Furthermore, a rise in military recruitment across the world, boosting the body armor market.
MARKET SCOPE
The "Global Body Armor Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Body armor market with detailed market segmentation by type, end-user, style, level, and geography. The report provides key statistics on the market status of the leading Body armor market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented as hard armor, clothing, and helmet.
- On the basis of end-user, the market is segmented as military & defense, fire fighters, law-enforcement, and others.
- On basis of style, the market is segmented as covert and overt.
- On basis of style, the market is segmented as level IIA, level II, level IIIA, level III, and level IV.
MARKET DYNAMICS
Drivers:
- Increasing demand for the body armor solution in the defense sector has bolstered the market growth.
- Increasing material development to further strengthen and lightweight the armor is driving significant demand worldwide.
Restraints:
- Increasing cost of raw material may restrain the growth the body armor market.
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), the Middle East and Africa (MEA), and South America. The Body armor 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 market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Body armor market in these regions
IMPACT OF COVID-19 ON BODY ARMOR MARKET
The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation, and other related industries. The emergence of the COVID-19 virus across the globe has lowered the revenue of defense and military amour manufacturers. The decline in sale of military products is experienced in notable countries due severe impact on economy, which adversely affected the demand for new body armors. However, the COVID - 19 has minimal impact on the defense industry, which resulted in the low decline rate in the defense sector for the body armor market. The market is gaining strong momentum in developing nations such as China and India, supposed to support market growth in forecasted period.
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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), the Middle East and Africa (MEA), and South America. The Body armor 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 market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Body armor market in these regions
IMPACT OF COVID-19 ON BODY ARMOR MARKET
The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation, and other related industries. The emergence of the COVID-19 virus across the globe has lowered the revenue of defense and military amour manufacturers. The decline in sale of military products is experienced in notable countries due severe impact on economy, which adversely affected the demand for new body armors. However, the COVID - 19 has minimal impact on the defense industry, which resulted in the low decline rate in the defense sector for the body armor market. The market is gaining strong momentum in developing nations such as China and India, supposed to support market growth in forecasted period.
MARKET PLAYERS
The report covers key developments in the Body armor 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 market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Body armor market are anticipated to lucrative growth opportunities in the future with the rising demand for Body armor in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Body armor 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.
- Armored Republic, LLC
- Ballistic Body Armour Pty
- BAE Systems
- DuPont
- ArmorSource
- EnGarde body armor
- Point Blank Enterprises, Inc.
- PT Armor
- Safariland, LLC
- U.S. ARMOR CORPORATION
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Body Armor Market - By Type
1.3.2Body Armor Market - By End-User
1.3.3Body Armor Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.BODY ARMOR MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.BODY ARMOR MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.BODY ARMOR MARKET - GLOBAL MARKET ANALYSIS
6.1.BODY ARMOR - GLOBAL MARKET OVERVIEW
6.2.BODY ARMOR - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.BODY ARMOR MARKET - REVENUE AND FORECASTS TO 2028 â TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.SOFT AND HARD ARMOR
7.3.1.Overview
7.3.2.Soft and Hard Armor Market Forecast and Analysis
7.4.CLOTHING
7.4.1.Overview
7.4.2.Clothing Market Forecast and Analysis
7.5.HELMET
7.5.1.Overview
7.5.2.Helmet Market Forecast and Analysis
8.BODY ARMOR MARKET - REVENUE AND FORECASTS TO 2028 â END-USER
8.1.OVERVIEW
8.2.END-USER MARKET FORECASTS AND ANALYSIS
8.3.MILITARY
8.3.1.Overview
8.3.2.Military Market Forecast and Analysis
8.4.LAW-ENFORCEMENT
8.4.1.Overview
8.4.2.Law-Enforcement Market Forecast and Analysis
9.BODY ARMOR MARKET REVENUE AND FORECASTS TO 2028 â GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Body Armor Market Overview
9.1.2North America Body Armor Market Forecasts and Analysis
9.1.3North America Body Armor Market Forecasts and Analysis - By Type
9.1.4North America Body Armor Market Forecasts and Analysis - By End-User
9.1.5North America Body Armor Market Forecasts and Analysis - By Countries
9.1.5.1United States Body Armor Market
9.1.5.1.1United States Body Armor Market by Type
9.1.5.1.2United States Body Armor Market by End-User
9.1.5.2Canada Body Armor Market
9.1.5.2.1Canada Body Armor Market by Type
9.1.5.2.2Canada Body Armor Market by End-User
9.1.5.3Mexico Body Armor Market
9.1.5.3.1Mexico Body Armor Market by Type
9.1.5.3.2Mexico Body Armor Market by End-User
9.2.EUROPE
9.2.1Europe Body Armor Market Overview
9.2.2Europe Body Armor Market Forecasts and Analysis
9.2.3Europe Body Armor Market Forecasts and Analysis - By Type
9.2.4Europe Body Armor Market Forecasts and Analysis - By End-User
9.2.5Europe Body Armor Market Forecasts and Analysis - By Countries
9.2.5.1Germany Body Armor Market
9.2.5.1.1Germany Body Armor Market by Type
9.2.5.1.2Germany Body Armor Market by End-User
9.2.5.2France Body Armor Market
9.2.5.2.1France Body Armor Market by Type
9.2.5.2.2France Body Armor Market by End-User
9.2.5.3Italy Body Armor Market
9.2.5.3.1Italy Body Armor Market by Type
9.2.5.3.2Italy Body Armor Market by End-User
9.2.5.4United Kingdom Body Armor Market
9.2.5.4.1United Kingdom Body Armor Market by Type
9.2.5.4.2United Kingdom Body Armor Market by End-User
9.2.5.5Russia Body Armor Market
9.2.5.5.1Russia Body Armor Market by Type
9.2.5.5.2Russia Body Armor Market by End-User
9.2.5.6Rest of Europe Body Armor Market
9.2.5.6.1Rest of Europe Body Armor Market by Type
9.2.5.6.2Rest of Europe Body Armor Market by End-User
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Body Armor Market Overview
9.3.2Asia-Pacific Body Armor Market Forecasts and Analysis
9.3.3Asia-Pacific Body Armor Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Body Armor Market Forecasts and Analysis - By End-User
9.3.5Asia-Pacific Body Armor Market Forecasts and Analysis - By Countries
9.3.5.1Australia Body Armor Market
9.3.5.1.1Australia Body Armor Market by Type
9.3.5.1.2Australia Body Armor Market by End-User
9.3.5.2China Body Armor Market
9.3.5.2.1China Body Armor Market by Type
9.3.5.2.2China Body Armor Market by End-User
9.3.5.3India Body Armor Market
9.3.5.3.1India Body Armor Market by Type
9.3.5.3.2India Body Armor Market by End-User
9.3.5.4Japan Body Armor Market
9.3.5.4.1Japan Body Armor Market by Type
9.3.5.4.2Japan Body Armor Market by End-User
9.3.5.5South Korea Body Armor Market
9.3.5.5.1South Korea Body Armor Market by Type
9.3.5.5.2South Korea Body Armor Market by End-User
9.3.5.6Rest of Asia-Pacific Body Armor Market
9.3.5.6.1Rest of Asia-Pacific Body Armor Market by Type
9.3.5.6.2Rest of Asia-Pacific Body Armor Market by End-User
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Body Armor Market Overview
9.4.2Middle East and Africa Body Armor Market Forecasts and Analysis
9.4.3Middle East and Africa Body Armor Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Body Armor Market Forecasts and Analysis - By End-User
9.4.5Middle East and Africa Body Armor Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Body Armor Market
9.4.5.1.1South Africa Body Armor Market by Type
9.4.5.1.2South Africa Body Armor Market by End-User
9.4.5.2Saudi Arabia Body Armor Market
9.4.5.2.1Saudi Arabia Body Armor Market by Type
9.4.5.2.2Saudi Arabia Body Armor Market by End-User
9.4.5.3U.A.E Body Armor Market
9.4.5.3.1U.A.E Body Armor Market by Type
9.4.5.3.2U.A.E Body Armor Market by End-User
9.4.5.4Rest of Middle East and Africa Body Armor Market
9.4.5.4.1Rest of Middle East and Africa Body Armor Market by Type
9.4.5.4.2Rest of Middle East and Africa Body Armor Market by End-User
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Body Armor Market Overview
9.5.2South and Central America Body Armor Market Forecasts and Analysis
9.5.3South and Central America Body Armor Market Forecasts and Analysis - By Type
9.5.4South and Central America Body Armor Market Forecasts and Analysis - By End-User
9.5.5South and Central America Body Armor Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Body Armor Market
9.5.5.1.1Brazil Body Armor Market by Type
9.5.5.1.2Brazil Body Armor Market by End-User
9.5.5.2Argentina Body Armor Market
9.5.5.2.1Argentina Body Armor Market by Type
9.5.5.2.2Argentina Body Armor Market by End-User
9.5.5.3Rest of South and Central America Body Armor Market
9.5.5.3.1Rest of South and Central America Body Armor Market by Type
9.5.5.3.2Rest of South and Central America Body Armor Market by End-User
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.BODY ARMOR MARKET, KEY COMPANY PROFILES
11.1.3M (CEREDYNE)
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.ARMORSOURCE LLC
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.BAE SYSTEMS
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.E. I. DU PONT DE NEMOURS AND COMPANY (DUPONT)
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.ENGARDE BODY ARMOR
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.HONEYWELL INTERNATIONAL INC.
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.POINT BLANK ENTERPRISES, INC.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.PT ARMOR INC
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SAFARILAND LLC
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.U.S. ARMOR CORPORATION.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.3M (Ceredyne)
2.ArmorSource LLC
3.BAE Systems
4.E. I. du Pont de Nemours and Company (DuPont)
5.EnGarde Body Armor
6.Honeywell International Inc.
7.Point Blank Enterprises, Inc.
8.PT Armor Inc
9.Safariland LLC
10.U.S. Armor Corporation.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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