March 20, 2020

Body Armor Market Estimated to Expand at a Double-Digit CAGR through 2029

The global body armor market size is expected to reach ~US$ 3,231 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at a CAGR of ~5.2% between 2019 and 2029. According to the report, rapid escalation on the border line, ensuring soldier survivability, and cross-border terrorist insurgencies are the major factors that drive the requirement of body armor products in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

It includes in-depth insights into the body armor market. Some of these are:

  • The estimated value of the market was at ~US$ 1,946 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
  • Regionally, North America dominates the body armor market globally.
  • East Asia emerges as one of the key markets owing to increasing focus on defense and ensuring the safety of soldiers in the country.
  • The level II segment body armors are expected to expand at the highest CAGR owing to a surge in demand in the law enforcement application segment.
  • The composite ceramics segment dominated the market in 2019 in terms of revenue.
  • Key players are likely to focus on new product innovation such as developing lightweight and hi-tech bodysuits for delivering enhanced performance, comfort, and flexibility.

Press Release Source: https://www.futuremarketinsights.com/press-release/body-armor-market

Soft Body Armor to Uplift the Market Scale

Soft body armor is the most preferred body armor among private security guards and policemen where flexibility and comfortable movement are of paramount importance. Advancement in technology, and growing security concerns of guards, & policemen have pushed the market for lightweight body armor which is found as soft body armor. Technological innovations and modernization initiatives prompt security agencies and military forces to opt for the latest equipment. Moreover, flexibility and lightweight feature of soft body armor push the market further for higher usage.

Composite Ceramics Segment to Dominate the Market

The composite ceramic material of body armor is considered to hold the major market share in 2019 owing to its high usage in body armor. The composite ceramic material perform well in resistance of ballistic attack. Moreover, it is lightweight which gives the user of flexible movement and thus known for high-performance material type.

 

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Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.

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