Ballistic Protection Materials & Equipment Market Analysis

Ballistic Protection Materials & Equipment Market Analysis

On the basis of material, the global ballistic protection market by materials & equipment has been segmented into aramid, carbon fiber composites, glass fiber & thermoplastic ceramic and metal, wool and jute amongst the others. Aramid holds the largest market share and accounted for over 35% of the overall revenue generation in 2018, the segment expected to grow with a CAGR close to 5.5% during the forecast timeframe. Aramid is manufactured from the aromatic polyamides and possess excellent properties including light weight, high strength and flexible nature and therefore it is amongst the most preferred material for the ballistic protection of the border security forces. Kevlar, Twaron, Nomex are some of the renowned brands of the aramid used for ballistic protection materials across the globe.

Ballistic protection materials & equipment market is widely applicable in defense, homeland security, commercial, etc. Among all these applications, defense captured a volume share close to 40% in ballistic protection market size by materials and equipment in 2018. In defense, several ballistic protective equipment such as protective vest & jacket, helmet, shields, shoes and gloves are widely used for protection against bullets, knifes, fragments of explosive materials, etc. Ballistic plates, panels, and vehicle armors containing ballistic plates or ballistic panels are also used in the defense to protect the tanks, vehicles, check post, and military offices.

Ballistic materials are used in the manufacturing of different equipment which mainly includes helmets, protective vests & jackets, shields and gloves & shoes among others. Ballistic vests and jackets are made of tightly woven fibers with ballistic plate inserted into it. Among all these equipment, ballistic vests and jackets holds the largest market share and is likely to be the fastest growing segment in the near future owing to its high demand for defense as well homeland security and law enforcement applications.  The aforementioned trends will help attain promising gains to the ballistic protection materials & equipment market size in the forecast spell.

North America ballistic protection market size by materials & equipment attained the largest revenue share and was valued over USD 600 million in 2018, the regional industry size demand is expected to grow with a CAGR close to 4.5 % by 2025. Growth parameters for ballistic protection materials & equipment market in North America is attributed to the high awareness about safety of the security forces and people and the heavy defense budget proposed by the regional government. For instance, military spending in the U.S. was valued USD 610 billion which was about 35% of global military spending in 2014.

Asia Pacific ballistic protection market by materials & equipment is projected to witness gains close to 5% over the forecast period. The region will witness significant growth opportunities particularly due to increasing military spending and rising awareness about the safety of military, paramilitary and police forces in emerging economies such as China and India.