Market Research Future (MRFR) has published a “Global Bulletproof Glass Market”
MRFR recognizes the following companies as the key players in the global Bulletproof Glass market— Nippon Sheet Glass Co., Ltd (Japan), Saint-Gobain (France), AGC Inc. (Japan), Smartglass International Limited (Ireland), SCHOTT AG (China), CSG Holdings Co., Ltd. (China), Total Security Solutions (U.S.), Apogee Enterprises, Inc. (U.S.), and Armortex (U.S.).
The global bulletproof glass market is accounted to register a CAGR of 14.30% during the forecast period and is estimated to reach USD 27.30 billion by 2032.
Bulletproof glass, referred to as transparent armor, ballistic glass, or bullet-resistant glass, is an essential component of security systems installed in locations where violent assaults, such as robberies, are likely to occur, as well as in cash trucks, banks, display cases, high-end vehicles, ATM booths, and other applications requiring advanced security features and bullet and small projectile protection. Bulletproof glasses have been created to withstand one or more rounds of bullets based on the thickness of the glass or the device used to fire at them.
It is anticipated that robust demand from the military, government institutions, retail stores, liquor stores, banks, and other industries will drive market expansion. The military and defense utilize bulletproof glass in the viewports and windows of ground vehicles and aircraft, as well as for mine detection, armory equipment, battle tanks, combat vehicles, and carrier trucks. The market is expanding due to factors such as the availability of a durable alternative to glass for buildings and vehicles that require additional protection. As consumer and investor safety has taken precedence, the dramatic transformations in several end-use industries have positively affected bullet-resistant glass.
The global Bulletproof Glass market has been segmented based on Application and End-Use.
Based on Application, the market is segmented into Defense & VIP Vehicles, ATM Booths & Teller Stations, Cash-in-Transit Vehicles, Commercial Buildings, Government & Law Enforcement, and Others. The defense & VIP vehicles segment was attributed to holding the largest market share in 2022.
Based on End-Use, the global Bulletproof Glass market has been segmented into Automotive, Military, Banking & Finance, Construction, and Others. The military segment was expected to hold the largest market share in 2022.
The global Bulletproof Glass market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Bulletproof Glass market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Bulletproof Glass market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World’s Bulletproof Glass market comprises the Middle East, Africa, and Latin America.
The market expansion in North America is attributable to the increase in riots and firearms violence in the region. The inclination toward bolstering infrastructure protection against terrorist attacks and wars generates market opportunities.
The market expansion in Europe is attributable to the growing trend of highly technological buildings. In addition, actions implemented by the European Union (EU) to increase the use of secure and safe building materials will drive the market even further.
The rise in the development of tall residential and commercial structures necessitating premium safety and security for consumers has been fueled by the high population density of the world's nations, thereby propelling market expansion.
Latin America will experience gradual expansion throughout the duration of the forecast. Construction of medical institutions, commercial offices, hotels, police stations, and other buildings increased. In the Middle East and Africa, the increasing need for expensive glass infrastructure utilizing sophisticated technologies is anticipated to generate enormous market opportunities.
Key Findings of the Study