Global Bulletproof Vest Market

Bulletproof vests have been an important tool for both armed forces as well as internal law enforcement personnel. Rampant criminal activity amidst growing threats of other factors, such as terrorism, coupled with advancement in bullet-proofing technology is expected to drive the market forward in the forthcoming years.

Valued at US$ XX in 2017, the global bulletproof vest market is expected to register a compound annual growth rate of XX% over the period 2017-2022. The market is estimated to be valued at US$ XX by 2022.

Technology

Conventional bulletproof vests are modelled on a Kevlar foundation. Kevlar is a kind of synthetic fibre that is woven into fabric to give a layered protection that is up to five times stronger than steel. However, while Kevlar helps in blocking incoming bullets, it doesn't entirely nullify the possibility of injuries due to impacts caused by the material's bending. This has led to a development in the bulletproof materials industry for better alternatives to conventional Kevlar.

Latest breakthroughs in technology have made it possible for making bulletproof vests with composite metal foams resembling bubble wrap structurally. While this makes vests far lighter than Kevlar, it also makes it far safer by providing resistance to the likes of even a disintegrating bullet.

Market Dynamics

With product innovation and increasing investments into using novel materials (such as graphene and carbon nanotube) in vests, the market is expected to register a good growth rate in the forthcoming years. Other important factors driving the bulletproof market include need for regular upgradation of existing gear and advancement of material innovation. Also, recent discussions within the US government about increasing allocations for defence expenditure might play an important role in the market's growth over the forecast period. This comes after the slight hindrance of budget slashes in the defence sector by the largest defence spending nation. Any change or developments in the matter is expected to affect the market on a significant level.

Market Segmentation

> On the basis of product type, the market is segmented into soft vest and hard vest based. Amongst these, the soft vest segment dominated the market in 2017 and is expected to do so over the next few years. This comes as a result of them being easier to wear and being far lighter than hard vest counterparts.

> On the basis of end-user, the market is segmented into defence, law enforcement, and civilians. In terms of the end-user segmentation, the defence segment accounted for the highest position in market share owing to high military spending and massive global armed strength.

Regional Analysis:

Regionally, the market is segmented into North America, Asia-Pacific, Europe, MEA (Middle-East and Africa), and Latin America. North America presently accounts for the largest regional segment, attributed plainly to the USA being the largest defence spending nation globally. However, decreased defence budgets are expected to keep growth rates at a moderate pace. Increasing homeland security budgets in emerging economies in Asia-Pacific and Latin America is expected to project both the regions to become major contributors by the end of the forecast period.

Opportunities

While technological advancement led to the introduction of composite metal foams as a substitute for Kevlar, it has also opened up new avenues for other markets and industries. This new composite metal foam technology can also be incorporated into other segments, ranging from car bumpers to medical procedures such as knee replacement.

Key players

Key players in the global bulletproof vest market include Black Hawk, Point Black Body Armour, VestGuard UK, Canarmor, US Armor, T.G. FAUST, Armour Wear, Armour 500, BulletBlocker, EnGarde, Imperial Amor, PPSS, and Survival Amour.

Report Contents:

> Global Bulletproof Vest Market segments

> Global Bulletproof Vest Market Drivers, Restraints and Opportunities

> Global Bulletproof Vest Market Size & Forecast 2016 to 2022

> Supply & Demand Value Chain

> Global Bulletproof Vest Market - Current Trends

> Competition & Major Companies

> Technology and R&D Status

> Porters Five Force Analysis

> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>>US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Westren Europe

> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastren Europe

> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

> Consumer and Pricing Analysis

> Market dynamics of the industry

> Market Segmentation

> Estimated Market Sizing in terms of volume and value

> Recent trends in Global Bulletproof Vest Market and impact

> Research Status and Technology Overview

> Extensive Industry Structure Coverage