The report "Ballistic Protection Market by Type (Personal Protective Equipment, Vehicle Armor), sub-type (Soft Armor, hard armor, Personal Protective Head Gear), & by Application (Defense, Homeland Security, Commercial) - Global Forecasts & Analysis to 2014 - 2020" the global Ballistic Protection Market was valued at $7.91 billion in 2013 and is expected to reach $11.03 billion by the end of 2020, to grow at a CAGR of 5.11%.
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Apart from the general overview of the companies, the Ballistic Protection Market report also provides financial analysis, products, services, and the key developments of the major players in the industry. The report also highlights the industry value chain, detailed ETOP analysis of the market.
Key players profiled in the report are Teijin Limited (Japan), Honeywell International (U.S.), BAE systems (U.K.), Royal TenCate Corporate EMEA (Netherland), E.L. DuPont DE Nemours & Co. (France).
The ballistic protection market report covers material types such as Kevlar, carbon fiber composite, Lexan, glass, bomb suit, vest, and plastic. On the basis of application, it is segmented into defense (that includes airborne, land, and naval), homeland security, VIP security and law enforcement agencies. The defense forces procure the ballistic protection systems at a large scale worldwide.
In this report, the Ballistic Protection Market has been further segmented into three major applications-defense, homeland security, and commercial. The defense segment contributes 75% to the ballistic protection system market, 17% of the demand comes as investment in homeland security and the remaining 8% constitutes the commercial segment.. Recently, the U.S. Army disclosed their interest towards the development of three lightweight highly mobile ground vehicles for a light infantry brigade as it is expected to conduct a joint forcibly entry mission. When it comes to the PPE segment, the market is expected to witness strong demand in the near future. The Ukraine Ministry of defense is expected to procure approximately 4000 new units of body armor.
The rising ballistic protection trend of heavy, less mobile, and more expensive armors have limited the soldiers’ and marines’ ability to rapidly position and manoeuvre in theatre and fulfil their missions in environments that are subjected to threats. Moreover, heavy and larger vehicles require more logistical support and are more expensive to design, produce, and replace. Hence, the U.S. Military currently aims at strategic mobility, cost-innovative, and disruptive solutions to ensure operational viability.
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