Overview and Scope
A bulletproof vest refers to a set of protective coverings worn by individuals to protect the torso against bullets, knives, and bombs. Based on proof, vests absorb the impact and reduce or completely stop the penetration of the attack, and any fragments from various explosions. These are generally made by layering woven or laminated fibers, with metal ballistic plates or ceramic inserted.
Sizing and Forecast
The bulletproof vest market size has grown strongly in recent years. It will grow from <b>$1.64 in 2023 to $1.79 in 2024 at a compound annual growth rate (CAGR) of 9.4%. </b> The growth in the historic period can be attributed to rise in crime rates, geopolitical conflicts, military modernization, government regulations and mandates, population growth
The bulletproof vest market size is expected to see strong growth in the next few years. It will grow to <b>$2.51 in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to increasing concerns about personal safety and security, rising defense spending, expanding civilian markets, increasing urbanization . Major trends in the forecast period include smart armor integration, sustainability and eco-friendly materials, lightweight and flexible designs, multi-threat protection, body-worn cameras.
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Segmentation & Regional Insights
The bulletprrof vest market covered in this report is segmented –
1) By Type: Soft Vest, Hard Vest
2) By Material: Kelvar, Ultra High Molecular Weight Polyethylene, Graphene
3) By Application: Covert, Overt
4) By End User: Military, Law Enforcement
<b>Asia-Pacific</b> was the largest region in the bulletproof vest market in 2023. <b>South America</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the bulletprrof vest market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growth in military expenditure of developed and emerging countries is significantly contributing to the growth of the bulletproof vest market. It is mainly due to an increase in military expenditure, which has further propelled the large-scale procurement of bulletproof vests for the armed forces. According to Stockholm international peace research institute (SIPRI), the expenditure on the military in the world has raised to almost $2 trillion in 2020, which is an increase of 2.6% from 2019. Therefore, the growth in military expenditure is driving the growth of the bulletproof vest market.
Key Industry Players
Major companies operating in the bulletprrof vest market include <b> Wenzhou Start Co Ltd, VestGuard UK Limited, U.S. Armor Corporation, Point Blank Enterprises Inc., MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International Inc., EnGarde LLC, E. I. du Pont de Nemours and Company, Armourshield Ltd, Armor Express Inc., Central Lake Armor Express Inc., Compass International Corp, Condor Outdoor Products Inc., White Horse Research and Development Inc., Renco Corporation, Tex Tech Industries Inc., SAE International, Canadian Armour Ltd, SafeVest LLC, AAM Armor LLC, AA Shield Ltd., Ace Link Armor Inc., Adept Armor LLC, Alpine Armoring Inc., American Body Armor and Equipment Inc., Angel Armor LLC, Anorak Hellas Ltd., ARGUS Armour Inc. </b>
The bulletprrof vest market report table of contents includes:
1. Executive Summary
2. Bulletprrof Vest Market Characteristics
3. Bulletprrof Vest Market Trends And Strategies
4. Bulletprrof Vest Market – Macro Economic Scenario
5. Global Bulletprrof Vest Market Size and Growt
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26. South America Bulletprrof Vest Market
27. Brazil Bulletprrof Vest Market
28. Middle East Bulletprrof Vest Market
29. Africa Bulletprrof Vest Market
30. Bulletprrof Vest Market Competitive Landscape And Company Profiles
Top Major Players:
- Wenzhou Start Co Ltd.
- VestGuard UK Limited
- U.S. Armor Corporatio
- Point Blank Enterprises Inc
- MKU Limited
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