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Ballistic Protection Equipment Market Size, Share, And Trends By Equipment (Helmet, Protective Vests And Jackets, Others), By End Use (Defense, Law Enforcement And Security), And By Geography – Forecast From 2019 To 2024

Published: May 2020 | Report Code:  KSI061612832 | Pages:  103

The ballistic protection equipment market was valued at US$9.935 billion in 2018 and is projected to grow at a CAGR of 4.16% during the forecast period to reach US$12.688 billion in 2024. Rising government budget to boost the defense sector is the major driver of Ballistic Protection Equipment market. Growing conflicts among different countries and rising threat of terrorist attacks is pressurizing governments to strengthen their defense sector, thus positively impacting the growth of ballistic protection equipment market. Rising investments in R&D to develop advanced ballistic protection equipment will further propel the growth of 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, 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 
 

Frequently Asked Questions (FAQs)

Q1. What will be the ballistic protection equipment market size by 2024?
A1. The ballistic protection equipment market is projected to reach a total market size of US$12.688 billion in 2024.
 
Q2. What are the growth prospects for ballistic protection equipment market?
A2. The global ballistic protection equipment market is projected to grow at a CAGR of 4.16% over the forecast period.
 
Q3. What is the size of global ballistic protection equipment market?
A3. Ballistic Protection equipment market was valued at US$9.935 billion in 2018.
 
Q4. What factors are anticipated to drive ballistic protection equipment market growth?
A4. The rising government budget to boost the defense sector is the major driver of ballistic protection equipment market.
 
Q5. Who are the major players in the ballistic protection equipment market?
A5. The major players profiled in the Ballistic Protection Equipment market include BAE Systems, Point Blank Enterprises, Inc., Morgan Advanced Materials, Mile Dragic Production, Combat Protective Equipment (CPE), Safariland, LLC, Bennett Safetywear, Teijin, HighCom, and Kanas Group.

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