Steel gears in the body armor market segment is expected to witness the highest growth in revenue shares. The growth can be attributed to the high protection properties provided by steel, bulletproof to a high extent, and durable compared to other materials. Steel-plated armors are extensively used by soldiers and police officers during risky operations to get added protection. The demand for these armors is increasing in the defense industry due to their ability to handle precision rounds at the same place. The growing emphasis on enhancing personal protection for ground troops and armed forces will support the demand for steel-plated body armors over the forecast period.
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Factors, such as high price, complex design-related issues, and the extra weight of these gears, are restraining the body armor market growth. Officers find it unsustainable to wear heavy and bulky gears for a long time as it drains the energy and slows down operations. These challenges can be overcome by designing the armor for all body types and shapes and incorporating thinner, lightweight, and multiple numbers of protective plates.
The defense sector is expected to dominate the body armor market in terms of revenue share over the forecast timeline. The growth is due to the high requirement of these products to protect soldiers and officers in wars and critical situations such as firing and attacks. Modernization in military systems and equipment provided to militants in several countries including China and the U.S. are increasing the demand for armors. The demand for the civilian application segment is expected to increase over the forecast period due to the rise in numbers of home invasions, burglaries, and robberies.
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The North America body armor market will grow at the highest rate over the forecast timeline. Military and defense initiatives in the country, such as Army Soldier Protection Systems, adopted for providing fully advanced body armors to soldiers and cops accelerate the industry growth. The need to ensure the security of armed forces due to the increasing number of terrorist attacks is fueling the industry growth. The increasing warfare and cross border disputes in the Asia Pacific countries including China and South Korea are supporting the demand for advanced body armors.
The players operating in the body armor market include Aegis engineering Ltd., BAE Systems, Ballistic Body Armor (Pty) Ltd., Kejo Limited Company, AR500 Armor, XTEK Limited, Hellweg International, Safariland LLC, Pacific Safety Systems, and Point Black Enterprises.
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the body armor market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Several manufacturers in the market are adopting business expansion strategies, such as mergers & acquisitions, partnerships, and collaborations. For instance, in July 2019, XTEK Limited announced the acquisition of HighCom, a supplier of safety armors, helmets, and shields based in the U.S. The acquisition will help XTEK to gain direct access to HighCom’s distribution network and existing manufacturing capabilities to expand its business in the U.S.
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