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Ballistic Protection Market by Material, Product, Technology, Threat Level, Platform, Application And Region - Global Forecast to 2025

Ballistic Protection Market by Material, Product, Technology, Threat Level, Platform, Application And Region - Global Forecast to 2025

  • May 2020
  • 219 pages
  • ID: 5893107
  • Format: PDF
  • MarketsandMarkets

Summary

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Increasing geopolitical tensions in emerging economies.

The global ballistic protection market size is projected to reach USD 17.2 billion by 2025, at a CAGR of 6.4% from 2020 to 2025. Rising political unrest and instability, as well as increasing incidences of terrorism, have prompted military and law enforcement forces and the material sciences community to develop effective solutions that can help ensure troop and vehicle safety. Currently, political conflicts in Syria, Libya, Iraq, and Afghanistan, between Russia & Ukraine, India & Pakistan, India & China, and Russia & Turkey, and criminal violence in Mexico are increasing the need for combat armor. Domestic conflicts in many countries are also boosting the need for ammunition, which, in turn, drives the demand for protective equipment.

The airborne segment to witness the highest growth in the ballistic protection market.

By platform, the airborne segment is projected to grow at a higher CAGR during the forecast period. The airborne segment includes fixed-wing aircraft, helicopters, and unmanned aerial vehicles (UAV), and the marine segment includes destroyers, frigates, corvettes, offshore support vessels (OSVs), aircraft carriers, submarines, and underwater surface vehicles.

There is an increasing demand for aircraft across various aviation platforms for military purposes.This demand is also attributed to the rising military expenditure of various countries, such as China, Japan, South Korea, and the US.

The UAV segmented is expected to witness the highest CAGR for the forecast period 2020-2025. The growth of the airborne segment is attributed mainly because of the introduction of UAVs on the battlefield due to changes in the dynamic of war.

Homeland security segment of the ballistic protection market is expected to grow at the highest CAGR during the forecast period.
The homeland security segment is projected to grow at higher than the military segment 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 (PPE), including body vests, ballistic helmets, and gloves, to ensure safety during any mission.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 ceramics and thermoplastics reinforce them.

Asia Pacific ballistic protection market is expected to witness the highest CAGR during the forecast period.
The ballistic protection industry in Asia Pacific is anticipated to grow at the highest CAGR from 2020 to 2025.Asia Pacific is an emerging market for ballistic protection systems, owing to the economic growth of countries in this region and increased defense spending in countries such as India, China, Japan, South Korea, and Australia.

The governments of these countries and local industries are also signing up with the contractors and supporting them through the procurement process by providing necessary financial and infrastructure aids. The increase in the number of insurgent groups entering the territories and using deadly explosives such as IEDs and bombs has further raised the need for ballistic protection systems.

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, end-users of ballistic protection products, innovation, and technology directors, and executives from various key organizations operating in the ballistic protection market.
•?By Company Type: Tier 1: 40%, Tier 2: 30%, and Tier 3: 30%
•?By Designation: C-level Executives: 30%, Directors: 20%, and Others*: 50%
•?By Region: North America: 27%, Europe: 18%, Asia Pacific: 37%, and RoW: 18%

*Other designations include air traffic control officer, airport operation managers, and product managers.

The global ballistic protection market comprises major players such as BAE Systems (UK), 3M (US), Rheinmetall AG (Germany), Koninklijke Ten Cate bv (Netherlands), Point Blank Enterprises, Inc (US), Craig International Ballistics Pty Ltd (Australia), MKU Limited (India), Elmon (Greece), FMS Enterprises Migun Ltd (Israel), Permali (UK), Revision Military (US), Saab AB (Sweden), and Survitec Group Limited (UK), among others. The study includes an in-depth competitive analysis of these key players in terms of company profiles, recent developments, and key market strategies.

Research Coverage:
This study covers the ballistic protection market.It aims at estimating the market size and growth potential across different segments, such as platform, application, material, threat level, technology, product, and region.

The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will provide market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ballistic protection market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

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