Bulletproof Vests Market Outlook – 2027
Bulletproof jackets often referred to as bulletproof vests are an armor that protects the soldiers from bullets, knives, bomb explosion by absorbing the impact and stopping the attack from penetrating the body. The bulletproof jacket is a must for all armed forces, police personnel. The soft jacket consists of various layers of tissue and laminate fibers. In soft jackets, ballistic plates are often inserted. Besides, soft jackets can be used to provide additional protection against rifles and knife stabbing. These vests use different layers of strong fibers that bend the bullet, distributing its impact over a greater portion of the fabric, thereby mushrooming the bullet into a platter shape.
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Companies covered :-
ELMON, Honeywell International, E.L Dupont, U.S. Armor Corporation, KDH defense systems, Wenzhou Start Co., Hawk protection, EnGarde, Infidel Body Armor, Point Blank Enterprises, MARS Armor, Vestguard, Armourshield, BulletSafe, and Compass International.
COVID – 19 Scenario Analysis:
- The lack of supply of Chinese manufacturers of raw materials has led to a severe demand-supply gap. Moreover, raw material orders are likely to hinder the producers, as the logistics industry has been seriously affected by the lockdown in the COVID-19 crisis.
- However, the producers are expected to withdraw from China to minimize potential market risks and reduce the cluster of manufacturers in a single country to crawl up the supply chain.
- Even while the world is tackling COVID-19 pandemic, still all the military procurement is continuing in almost every country, because national safety is foremost important.
- Major powers like the US have already halted all troop movement, missions, and exercises. Cessing or reducing military exercises would reduce the engagement time, informal testing, and evaluation of equipment and reduce the latent market development potential.
Get detailed COVID-19 impact analysis on the Bulletproof Vests Market
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The bulletproof jacket market is mainly driven both internally and externally by the increased security threats. The need for global market-proof jackets is stepped up by domestic threats such as political violence and economic sabotage, as well as external dangers such as terrorist attacks and trafficking. The increased awareness of trade safety also fuels the demand worldwide for bulletproof jackets. Securities concerns, including security in the retail, health care, and transportation sectors, are growing rapidly as a result of rising threats. Another driving force on the bulletproof Jacket market is increasing government investment in the defense budget. Besides, soldiers’ survival increases worldwide growth in bulletproof jackets. The high cost of bullet-proof jackets limits the global consumer demand for these jackets. The cost of these vests is higher because new technology is being implemented and materials used to manufacture these vests.
The global bulletproof vests market trends are as follows:
New product launches and deals to flourish the market
Honeywell Launched Spectra Shield 6166 in January 2020, offering the highest energy adsorption for high-power rifle or high-energy threats for improved energy adsorption in hard body armor. Also, KDH Defense Systems, Inc. (KDH), a leading American-made, high-performance protective solutions manufacturer, announced that in 2020, two separate U.S. Army delivery orders totaling approximately $40.0 million have been awarded for the production of Modular Scalable Vest (MSV) Generation II and Blast Pelvic Protectors (BPPs).
Also, The Protective Group, a Point-Blank Enterprises, has been awarded by the United States Defense Logistics Agency Troop Support (DLA-TS) a multiannual Indefinite Delivery, Indefinite Quantity (ID / IQ) $209 M body armor contract in 2020. Moreover, a contract has been given to Gold Coast company Craig International Ballistics to provide life-saving body armor to Australian troops in 2020. The company will deliver 750 soft armor inserts to the Australian Defense Force (ADF) under the initial $1 m contract. The armors made in Australia will replace the armor that is currently being used in service. Also, EnGarde, a Netherlands body armor manufacturer, updated its popular Panther Armor product in 2019 to create next-generation non-combatant ballistic protection.
Competitive landscape along with the surge in military procurement in developing countries
The bulletproof vests market is decentralized, with many companies supplying their respective countries’ local law enforcement agencies or to the military. Companies such as Honeywell supply raw materials to other bulletproof vest manufacturers, such as KDH Defense Systems Inc., which supply the customers with their own branded vests. The growing number and geopolitical challenges are increasing the frequency of military operations, which require the military to demand bullet-proof jackets. National defense departments of various countries are expected to invest in the procurement of highly effective Wearables, especially in developing countries which having border tension with neighboring countries would be requiring the most highly advanced and adaptable military wearables to be competitively superior to their counterparts as well as ensure the safety of their soldiers.
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- This study presents the analytical depiction of the global bulletproof vests industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global market share.
- The current bulletproof vests market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the bulletproof vests market research report:
- What are the leading market players active in the bulletproof vests market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?