Body Armor Market is forecast to reach $4.7 billion by 2026, after growing at a CAGR of 3.75% during 2021-2026. The steady growth of the body armor market is majorly attributed to the high focus on the defense department and concern towards the survivability of soldiers across different nations. Moreover, technological advances and introduction of nanotechnology material and fibers Armors is anticipated to raise the growth of the Body armor market. The high adoption of these lightweight and flexible armors along with recent trend is anticipated towards the growth of the Body armor market during forecast period.
Asia-Pacific dominated the Body Armor market owing to increasing adoption of the body armors by the defense department of India, China and Japan in 2018.
Technological advancement and increasing number of R&D has allowed development of new and advanced Body armors, adoption of these is anticipated to boost the growth of the market.
Defense department as an end-user is playing the major role in the growth of the market due to the highest units of adoption of body armors.
Type - Segment Analysis
Among all the other types of armors, Accessories segment held the largest market share in the body armor market in the year 2018. Accessories are estimated to have a large share due to its high adoption not by the soldiers in the defense department but also by others such as security guards, police and among others. Helmets, shoes, shield, hand and leg protection gears are some of the important accessories which are adopted by a soldiers, police men and security guards. The adoption of various body armor products including scalable plate carrier, fighting load carrier and outer tactical vests made of aromatic polyamides and ultra-high-molecular-weight polyethylene is driving market growth. Helmets are heavily adopted by common people obeying traffic rules in the metropolitan cities in developed and developing countries. The high adoption of such accessories is anticipated to fuel the growth of the market during forecast period.
Application - Segment Analysis
Defense department of multiple nations is majorly contributing towards the growth of the Body Armor market. This mostly attributed to the high adoption of the body armors of various types by the defense for their soldier’s protection and to fight the adverse conditions in the areas near the Line of Control (LOC) across various nations. In 2018, the Indian Army procured 1.86 lakhs bullet proof jackets for the Indian soldiers. The high adoption of such accessories is anticipated to boost the growth of the body armor market. Heavy adoption of body armors and concern towards soldier survival in the defense department is one of the most important reason contributing towards the growth of the Body armor market.
Geography - Segment Analysis
APAC dominated the body armor market with a share of more than 37.9% in 2018. The growth is majorly attributed to the high adoption of body armors such as bulletproof jackets, helmets, shoes by the defense department of countries such as India, China, japan and other major countries. In 2018, SM Group announced the a reward of $ 100million contract to supply 186,000 units of body armor to the Indian Army over a period 3 years to the Indian Army. This contract also included 1.1 million armor plates. Large investments coupled with heavy adoption of the body armors in India is anticipated to enhance the growth of the market during forecast period.
Growing adoption of Body armors by the Defense department
One of the major factor driving the growth of the body armor market is the high adoption of body armors such as boots, helmets, bullet proof jackets, armor plates and others by the defense department of the countries such as India, U.S, China, the U.K and others is majorly driving the growth of the market. The Indian Government’s high concern towards Army protection and solider survival has increased the adoption of body armors in the recent years, which is anticipated to drive the growth of the market.
Growth in technological Advances
The growth in the technological advances and introduced material and fibers that are built by the application of nanotechnology has allowed the development of new lightweight and flexible body armor which are more effective and efficient than the normal armors. Such technological advances are anticipated to drive the growth of the body armor market during forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Body Armor market. In 2018, Body Armor market has been consolidated by the top five players accounting more than 43% of the market share. Major players in the Body Armor Market are Aegis Engineering Ltd., AR500 Armor, BAE Systems, Ballistic Body Armour Pty, Ceradyne Inc. (Subsidiary of 3M), Craig International Ballistics Pty Ltd., Hellweg International, among others.
In 2018, Bhabha Atomic Research Centre (BARC) developed a next generation bullet proof jacket for the Indian Army which is much cheaper and lighter than the other normal ballistic bullet proof jacket. The growing R&D on body armors is anticipated to raise the growth of the market in the upcoming future.
Key Takeaways
Asia-Pacific dominated the Body Armor market owing to increasing adoption of the body armors by the defense department of India, China and Japan in 2018.
Technological advancement and increasing number of R&D has allowed development of new and advanced Body armors, adoption of these is anticipated to boost the growth of the market.
Defense department as an end-user is playing the major role in the growth of the market due to the highest units of adoption of body armors.
Type - Segment Analysis
Among all the other types of armors, Accessories segment held the largest market share in the body armor market in the year 2018. Accessories are estimated to have a large share due to its high adoption not by the soldiers in the defense department but also by others such as security guards, police and among others. Helmets, shoes, shield, hand and leg protection gears are some of the important accessories which are adopted by a soldiers, police men and security guards. The adoption of various body armor products including scalable plate carrier, fighting load carrier and outer tactical vests made of aromatic polyamides and ultra-high-molecular-weight polyethylene is driving market growth. Helmets are heavily adopted by common people obeying traffic rules in the metropolitan cities in developed and developing countries. The high adoption of such accessories is anticipated to fuel the growth of the market during forecast period.
Application - Segment Analysis
Defense department of multiple nations is majorly contributing towards the growth of the Body Armor market. This mostly attributed to the high adoption of the body armors of various types by the defense for their soldier’s protection and to fight the adverse conditions in the areas near the Line of Control (LOC) across various nations. In 2018, the Indian Army procured 1.86 lakhs bullet proof jackets for the Indian soldiers. The high adoption of such accessories is anticipated to boost the growth of the body armor market. Heavy adoption of body armors and concern towards soldier survival in the defense department is one of the most important reason contributing towards the growth of the Body armor market.
Geography - Segment Analysis
APAC dominated the body armor market with a share of more than 37.9% in 2018. The growth is majorly attributed to the high adoption of body armors such as bulletproof jackets, helmets, shoes by the defense department of countries such as India, China, japan and other major countries. In 2018, SM Group announced the a reward of $ 100million contract to supply 186,000 units of body armor to the Indian Army over a period 3 years to the Indian Army. This contract also included 1.1 million armor plates. Large investments coupled with heavy adoption of the body armors in India is anticipated to enhance the growth of the market during forecast period.
Drivers - Body Armor Market
Growing adoption of Body armors by the Defense department
One of the major factor driving the growth of the body armor market is the high adoption of body armors such as boots, helmets, bullet proof jackets, armor plates and others by the defense department of the countries such as India, U.S, China, the U.K and others is majorly driving the growth of the market. The Indian Government’s high concern towards Army protection and solider survival has increased the adoption of body armors in the recent years, which is anticipated to drive the growth of the market.
Growth in technological Advances
The growth in the technological advances and introduced material and fibers that are built by the application of nanotechnology has allowed the development of new lightweight and flexible body armor which are more effective and efficient than the normal armors. Such technological advances are anticipated to drive the growth of the body armor market during forecast period.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Body Armor market. In 2018, Body Armor market has been consolidated by the top five players accounting more than 43% of the market share. Major players in the Body Armor Market are Aegis Engineering Ltd., AR500 Armor, BAE Systems, Ballistic Body Armour Pty, Ceradyne Inc. (Subsidiary of 3M), Craig International Ballistics Pty Ltd., Hellweg International, among others.
Acquisitions/Technology Launches
In 2018, Bhabha Atomic Research Centre (BARC) developed a next generation bullet proof jacket for the Indian Army which is much cheaper and lighter than the other normal ballistic bullet proof jacket. The growing R&D on body armors is anticipated to raise the growth of the market in the upcoming future.
Methodology
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