PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1126036
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1126036
The ballistic protection market is projected to grow from USD 13.4 billion in 2022 to USD 16.9 billion by 2027, at a CAGR of 4.7% from 2022 to 2027.
Increasing procurement of armored vehicles are also aiding the growth of the ballistic protection market in the US. Key manufacturers in the US are increasingly investing in R&D activities for the development of new and advanced armored vehicles. . In March 2022, it announced that it had increased its defense spending by 7.1% to reach USD 229 billion, continuing years of robust spending on its increasingly powerful military that is challenging the dominance of US armed forces in the Indo-Pacific region. The growth of the ballistic protection market in China can be attributed to the procurement of vehicle armor protection systems such as Kevlar glass and fibers. India is the second-fastest-growing market for ballistic protection after China. The growth of the market in this country can be attributed to the increase in the defense budget and the overall development of the homeland security forces, such as the police, the first responders, and the VIP security personnel. With the rise in inter-border conflicts with Pakistan and China, the country also focuses on strengthening its military capabilities as well as safeguarding them.
Various players such as BAE Systems (UK), Avon Protection (US), Rheinmetall AG (US), Tencate Advanced Armor (Netherlands), Point Blank Enterprises (US), SAAB AB (Sweden) among others, are prominent players operating in the ballistic protection market.
An increase in political instability and unrest, as well as increasing terrorist activities, have prompted law enforcement agencies and the material science community to develop and provide effective solutions that can help the safe movement of troops and vehicles. In the present scenario, the political conflicts in Syria, Libya, Iraq, and Afghanistan, along with Russia & Ukraine, India & Pakistan, India & China, and Russia & Turkey are increasing the need for combat armor. Domestic conflicts in many countries are also boosting the need for ammunition. This drives the demand for protective equipment.
Developing countries, such as Brazil, India, and Russia, are spending heavily on defense owing to internal conflicts and tensions with their neighboring countries. The Middle East & Africa region suffers from severe political unrest, boosting the need for advanced armor materials.
Unstable political conditions and terrorism across the world are adversely affecting the economies of many countries. Therefore, these countries are channeling their resources to invest in defense systems to counter these issues, which is a long-term driver for the global ballistic protection market
Regardless of technological advances, present ballistic composite technologies and products are unable to provide complete protection, especially on the battlefield. Fiber vests and composite helmets are good against shrapnel from artillery or grenades, which accounts for 70% to 85% of battlefield casualties. However, ballistic composites fail to provide 100% protection against other casualties, such as those caused by high-powered rifle fire. Therefore, companies in the industry are looking for better hard-facing inserts to counter existing threats
The current market for personal protective equipment (PPE) is focused on high-performance and reasonably priced products. Many customers prefer protective equipment that serves more than one function. In general, PPE is designed for protection against a hazard—for instance, fire-resistant (FR) clothing is resistant to fire damage but may not provide adequate protection against mechanical hazards. However, workers in industries such as oil & gas and chemical may be exposed to multiple hazards at once. In such situations, workers need multifunctional protective clothing for protection against multiple hazards.
The production process of armor materials varies based on their application. The technology used in manufacturing these materials is one of the most vital parts of the value chain. Production is governed by various agencies as well as by military forces, as it is a sensitive market. Various initiatives have been undertaken by these agencies and forces to ensure the secrecy and security of the technology used in the production of armor materials. The production process also needs to undergo several control methodologies to ensure intellectual property theft is minimized. These factors increase the production cost of armor materials. Manufacturers also invest heavily in R&D to enhance the efficiency of armor, thus increasing the overall cost of the material
The key stakeholders in the ballistic protection market ecosystem include companies which provide platforms and ballistic protection products. The major influencers in this market are investors, funders, academic researchers, integrators, service providers, and licencing agencies.
On the basis of platform, the ballistic protection market has been segmented into land, airborne and marine. Mairne accounted for 49.2% of the overall ballistic protection market. Defense naval vessels are specifically designed and used by coastguards and naval forces. They differ from commercial ships in terms of their applications, design, construction methods, and technologies applied. The hull of a ship is the major area in which ballistic materials are used. Apart from the hull, ballistic protection systems are installed on windows, weapon mounts, and optronics, among others.
The marine segment includes destroyers, frigates, corvettes, aircraft carriers, offshore support vehicles, and unmanned surface vehicles. The increase in demand for maritime security has resulted in the growth of the unmanned surface vehicles market.
The homeland security application segment is expected to grow at the highest CAGR of 7.4% during the forecast period. Ballistic-resistant body armor is worn by homeland security officers while in the field to protect against specific ballistic threats. Homeland security officers use personal protective equipment, including body vests, ballistic helmets, and gloves to ensure safety during missions. Ballistic helmets are intended to protect the wearer against small arms fire and fragmentation threats. The combat systems used by homeland security officers are ballistic-resistant as they are reinforced with ceramics and thermoplastics.
The US and Canada are considered under North America for market analysis. Market growth in the North American region can be attributed to the increased procurement of highly advanced armored vehicles and the demand for personal protective equipment by military forces of the region. The increase in terror threats is the main reason for the procurement of ballistic protection systems for land, airborne, and marine platforms. The global defense industry investment in R&D has led to the development of new soldier modernization technologies that enhance survivability and sustainability capabilities, including advanced combat clothing, boots, hard armors, eyewear, and helmets.
Some of the key players profiled in the ballistic protection market report include BAE Systems (UK), Avon Protection (US), Rheinmetall AG (US), Tencate Advanced Armor (Netherlands), Point Blank Enterprises (US), SAAB AB (Sweden) among others, are prominent players operating in the ballistic protection market.