The ballistic protection equipment market is projected to grow at a CAGR of 4.14% between 2025 to 2030.
The rising government budget to boost the defense sector is the major driver of the Ballistic Protection Equipment market. Growing conflicts among different countries and the rising threat of terrorist attacks are pressurizing governments to strengthen their defense sector, thus positively impacting the growth of the ballistic protection equipment market. Rising investments in R&D to develop advanced ballistic protection equipment will further propel the growth of the ballistic protection equipment market during the forecast period.
DRIVERS
Increasing defense budget
RESTRAINTS
High cost of ballistic protection equipment
INDUSTRY UPDATE
Avon Rubber has recently signed an agreement to acquire 3M’s Ballistic Protection Equipment business and the rights to the Ceradyne brand for approximately $91 million.
In July 2019, the leading Australian defense company XTEK entered into a binding agreement to acquire HighCom Armor Solutions.
The major players profiled in the Ballistic Protection Equipment market include
BAE Systems[1], Point Blank Enterprises, Inc., Morgan Advanced Materials, Mile Dragic Production, Combat Protective Equipment (CPE), Safariland, LLC, Bennett Safetywear, Teijin, HighCom, and Kanas Group.
Segmentation
The ballistic protection equipment market has been analyzed through the following segments:
• By Equipment
o Helmet
o Protective Vests and Jackets
o Others
• By End Use
o Defense
o Law enforcement and security
• By Geography
o North America
USA
Canada
Mexico
o South America
Brazil
Argentina
Others
o Europe
United Kingdom
Germany
France
Italy
Others
o Middle East and Africa
Saudi Arabia
UAE
Israel
Others
o Asia Pacific
China
Japan
India
Australia
Others