Body Armor Market is expected to be Worth USD 4.3 billion by 2021

According to a new market report published by Transparency Market Research “Body Armor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021” the body armor market was valued at USD 3.3 billion in 2014 and is estimated to grow at a CAGR of 4.0% and reach USD 4.3 billion by 2021.

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Body armor is a protective garment designed or intended to protect individuals from gunshots or stab wounds. Soldier Modernization Programs is one of the major factors responsible for the growth of the body armor market. There has been an increasing focus to design body armors that meet futuristic requirements and enhances on the survivability, sustainability and mobility front. Moreover, the demand for body armor is also expected to remain high throughout the forecast period on account of it being increasingly procured by various defense and law enforcement protection bodies to counter the growing threats of terrorism. Furthermore, increasing instances of handgun threats across various countries is driving the growth of body armor market. These factors in overall are expected to positively impact the growth of body armor market during the forecast period from 2015 to 2021.

By types, the market has been divided into six segments, namely Type I, Type II-A, Type II, Type III-A, Type III and Type IV. The Type IV segment generated the maximum revenue in 2014. Type IV body armors are extensively used in the defense sector as it is the strongest type of body armor and provide protection even against .30 caliber armor piercing (AP) bullets.

body-armor-market

By applications, market is classified into three segments, namely: defense, law enforcement protection and civilians. The defense sector held the largest market share accounting for more than 55% in 2014. The body armors used in the defense sector is mainly driven by the various modernization programs coupled with adoption of the advanced variants of body armors by various defense organizations. These factors are expected to positively impact the market in the coming years.

The market on the basis of material type has been divided into five categories: steel, UHMWPE, aramid, composite ceramic and others. The composite ceramic segment generated the largest revenue in 2014 and contributed to more than 30% share of the overall market.

The global body armor market has been bifurcated geographically into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America. In 2014, North America was the largest market for body armors and accounted for more than 50%. In 2014, Europe held the second largest position and accounted for more than 27%.

Some of the major players in the market are Point Blank Enterprises, Inc. (U.S.), BAE Systems, Inc. (U.S.), Australian Defence Apparel Pty Ltd. (Australia), ArmorSource LLC (U.S.), Survitec Group Limited (U.K.), Sarkar Defense Solutions (U.S.), MKU Pvt. Ltd. (India), KDH Defense Systems Inc. (U.S.), Safariland, LLC (U.S.) and Honeywell International Inc. (U.S.) among others.

This report provides a comprehensive highlight of the global body armor market along with the market values, in terms of revenue for the forecast period from 2015-2021. Additionally, the market has also been segmented on the basis of types, applications and material type. The cross sectional analysis of body armor market across five geographical regions has also been covered under the purview of the report.

The global body armor market has been segmented as follows:

Global body armor market, by Type

Type I

Type II-A

Type II

Type III-A

Type III

Type IV

Global body armor market, by Application:

Defense

Law Enforcement Protection

Civilians

Global body armor market, by Material type

Steel

UHMWPE

Aramid

Composite ceramic

Others

Global body armor, by Geography: The market is broadly segmented on the basis of geography into:

North America

U.S.

Canada

Mexico

Europe

Germany

United Kingdom

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Australia

Rest of Asia Pacific

Middle East and Africa

Saudi Arabia

Israel

Turkey

A.E.

South Africa

Rest of MEA

Latin America

Brazil

Argentina

Others

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