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Bulletproof Vest Market Share

Report ID: GMI4797
Published Date: Aug 2020
Report Format: PDF

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Bulletproof Vest Market Share

The bulletproof vest manufacturers are undergoing technology advancements to improve product differentiation to obtain several contracts from defense organizations and strengthen their industry foothold. For instance, in May 2020, Craig International Ballistics obtained a contract to supply bulletproof vest for Australian troops. The initial contract of USD 1 million includes the delivery 750 soft armor inserts to the Australian Defense Force (ADF).

The key bulletproof vest market participants include

EnGarde
Imperial Armour
PPSS
Survival Armor
U.S. Armor Corporation
BAE Systems
Safariland
Sarkar Defense Solution
Point Blank Body Armor
VestGuard UK
Armor Express
DuPont
Sioen
Honeywell International
C.P.E. Production

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The market size of bulletproof vest was valued over USD 1.45 billion in 2019.

The industry share of bulletproof vest is projected to expand at 6.7% CAGR during 2020 to 2026.

The product will witness massive demand in North America owing to the existence of numerous military modernization programs. North America accounted for 10% revenue share in 2019.

Bulletproof vest will increase in the military sector due to rising government spending to strengthen military capabilities. Military end use segment held USD 717 million in 2019.

Rising usage of these vests by the police, security, and military personnel will push the product demand. Overt ballistic vests segment may hold 65% revenue share by 2026.

Level III segment will register 6.5% CAGR through 2026, due to the product’s capability to deliver capability protection against .357 SIG flash pistol, 9-mm handguns, 7.62 mm Nato rifle, and 44 magnums.

Flexible ballistic vests segment will emerge lucrative for the market with a targeted revenue share of 55% by 2026, owing to the product’s lightweight nature and the fact that they are most suitable for professions that require flexible movements.