Global Bulletproof Vest Market Report and Forecast 2024-2032

Global Bulletproof Vest Market Outlook

The global bulletproof vest market reached a value of about USD 2.21 billion in 2023. The industry is further expected to grow at a CAGR of about 6.3% in the forecast period of 2024-2032 to reach a value of around USD 3.82 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Asia Pacific to be Among the Significant Regional Markets for Bulletproof Vest

Due to the significant number of active military and law enforcement personnel in countries like China, India, and South Korea, Asia Pacific is expected to be the largest spender on bulletproof ballistic protection items, such as bulletproof vests, over the forecast period. For instance, in May 2021, the Indian Army projected a requirement of 50,000 new bulletproof jackets for its frontline troops. The specifications that were listed by the Army state that the bulletproof vest should be able to protect a soldier against 7.62 mm armour-piercing rifle ammunition and hard steel core bullets fired from 10 metres. The escalating border tensions between various countries in the region and the ageing of existing bulletproof vests are expected to drive the market's growth. Also, there is a surge in defence research and development to develop newer generation bulletproof vests in the Asia Pacific region. The growth in military expenditure in developed and developing countries is significantly contributing to the growth of the bulletproof vest market. It is mainly due to increased military expenditure, which has further propelled the large-scale procurement of bulletproof vests for the armed forces.

Europe is the significant market for the bulletproof vests industry and is expected to remain the same during the forecast period. This is due to government funding programs and advanced jacket manufacturing technology, which are the primary driving factors in the European market. Due to a lack of funding programs and innovative technology, developing regions are predicted to grow slowly over the forecast period.

Military Segment Holds the Largest Market Share

The military segment now holds the largest market share and is likely to maintain this position during the forecast period. This is primarily due to rising military spending, fuelling large-scale procurement of body armour and bulletproof vests for the armed services' dismounted troops. The increased emphasis on research and development of novel and lightweight materials will likely benefit the bulletproof vest industry during the forecast period. However, the increasing number of attacks and the growing violence and threats worldwide are leading to a rise in demand for the protection of soldiers and civilians, which will also contribute to the increasing adoption of bulletproof vests in the military segment.

Bulletproof Vest Market Segmentation

Bulletproof vests, also known as bulletproof jackets, are a type of body armour that protects soldiers from bullets, knives, and bomb explosions by absorbing the force and preventing the attack from penetrating the body. All personnel of the military forces and police officers must have a bulletproof jacket. These vests use multiple layers of strong fibres to bend the bullet and distribute its impact over a larger area of the fabric, mushrooming it into a platter form.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By material, the market includes:

• Kevlar
• Ultra-High Molecular Weight Polyethylene (UHMWPE)
• Graphene

The significant applications of the market are:

• Overt
• Covert

Based on protection level, the market is divided into:

• Level I
• Level II
• Level III
• Level IV

The various products in the market are divided into:

• Flexible Ballistic
• Hard Armour Plate

The end-users of the market are:

• Military
• Law Enforcement
• Civil

The regional markets for the bulletproof vest industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Increasing Defence Expenditure Augmenting the Market Growth

The growth in military expenditure of developed and developing countries is significantly contributing to the growth of the bulletproof vest industry. The rising focus of defence agencies on enhancing soldier survivability will positively influence the industry's growth. Technological advancements with the usage of para-aramid textile, titanium plating, and other nanotechnology materials to manufacture vests will surge product penetration in the defence industry. Further, the introduction of modular tactical vests and several military modernisation programs, such as the PONARS Eurasia, are some recent trends promoting the market expansion. The bulletproof vest industry's growth is also fuelled by protecting workers from the frugality of war and booming investments in product research and advancement. As a result, companies and governments are investing in the development of advanced light vests with increased mobility, incorporating advanced technologies such as 3D printing and composite materials, which is expected to create new opportunities for bulletproof vest manufacturers over the forecast period. For example, the DRDO (Defense Research and Development Organisation) in India created a lightweight bulletproof jacket in April 2021 that would weigh roughly 9 kg and meet the quality standards for army personnel. This jacket's weight would be reduced from 10.4 kg to 9 kg due to indigenous technology.

Key Players in the Global Bulletproof Vest Market

The report gives a detailed analysis of the following key players in the global bulletproof vest industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Central Lake Armor Express, Inc.
• BulletSafe Bulletproof Vests
• DuPont de Nemours, Inc. 
• EnGarde B.V.
• Honeywell International Inc.
• MARS Armor
• MKU LIMITED
• Point Blank Enterprises, Inc.
• Safariland, LLC
• VestGuard UK Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report