The Body Armor Plates Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Body Armor Plates Global Market Report 2024, The body armor plates market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to military modernization programs, law enforcement upgrades, rising threats and conflicts, terrorism concerns, industrial applications.
The body armor plates market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global security challenges, law enforcement reforms, rising urban warfare, commercial sector uptake, technological innovations.. Major trends in the forecast period include enhanced ballistic protection standards, development of flexible and contour-shaped plates, integration of smart technologies, rise in demand for special threat plates, strategic collaborations for research and development.
The rising terrorism is expected to boost the growth of the body armor plates market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm it would do. Body armor plates can break up or capture bullets during any terrorist attack. Hence, rising terrorism is contributing to the growth of the body armor plates market. For instance, according to a report published by the Center for Strategic and International Studies (CSIS), a US-based non-profit organization, in 2022, terrorist acts and conspiracies in the United States increased to 47% in 2020 and 53% in 2021. 43% of all attacks in 2021’s domestic terrorism were directed toward the government, armed forces, and particularly law enforcement. Therefore, the rising terrorism is driving the growth of the body armor plates market.
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The body armor plates market covered in this report is segmented –
1) By Material: UHMWPE, Steel, Aramid, Composite Ceramic, Other Materials
2) By Level: Level II, Level IIA, Level III, Level IIIA, Level IV, Other Levels
3) By Application: Defense, Law Enforcement Protection, Civilians, Other Applications
Product innovation is the key trend gaining popularity in the body armor plates market. Major companies operating in the body armor plates market are focusing on developing new products to lead the market. For instance, in January 2023, Koninklijke Ten Cate BV, a US-based manufacturer of military armor products for militaries and law enforcement agencies, launched Cratus Wave, a level 3 armor ballistic plate. The unique feature of this launch is the application of trauma reduction technology. It redistributes pressure waves between the wearer and the rigid body armor plates. This strategy lessens back face deformation, a condition where a projectile hit causes the opposite side of the armor to enlarge and produce blunt physiological stress to soldiers. Rapid energy dispersion lessens the force that results in blunt trauma.
The body armor plates market report table of contents includes:
1. Executive Summary
2. Body Armor Plates Market Characteristics
3. Body Armor Plates Market Trends And Strategies
4. Body Armor Plates Market – Macro Economic Scenario
5. Global Body Armor Plates Market Size and Growth
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26. South America Body Armor Plates Market
27. Brazil Body Armor Plates Market
28. Middle East Body Armor Plates Market
29. Africa Body Armor Plates Market
30. Body Armor Plates Market Competitive Landscape And Company Profiles
Top Major Players:
- Armored Republic LLC
- BAE Systems
- Ceradyne Inc
- Craig International Ballistics Pty Ltd
- Helweg International
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