Bullet Proof Vest Market Size was valued at USD 1.3 Billion in 2022. The Bullet Proof Vest market is projected to grow from USD 1.4 Billion in 2023 to USD 2.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2023 - 2032). Growing awareness of commercial security worldwide and increasing demand for lightweight body armor from end-use industries like defense, law enforcement, and civilians, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industry growth is projected to be fueled by rising demand for lightweight body armor from end-use sectors like defense, law enforcement, and civilians. In 2020, the COVID-19 pandemic had an effect on the world economy in every industry area. As a result, this jacket's producers also ran into issues, which stopped both production and sales. The brief stoppage and lockdown had a negative effect on the production of bulletproof clothing. The need for bulletproof jackets is rising as business security is becoming a more important issue in the United States. Furthermore, concerns about security in industrial sectors like retail, healthcare, and transportation are rising quickly as threats become more common. As a result, it is anticipated that over the anticipated time, demand for this product would increase. Another factor fueling the bulletproof jacket market is the U.S. government's increased defense budget investments. Additionally, the government is increasing the defense budget to bolster security defenses in response to growing security worries. The purpose of bullet proof jackets is to protect the wearer from the damaging effects that gunshots have on inside organs. The wearer's torso is shielded from projectile bullets and smaller explosive fragments thanks to the jacket. It is constructed by stacking polythene plates, metal or ceramic ballistic plates, and woven or laminated fibers. The growing awareness of workplace safety is another factor driving the demand for this product globally. Security worries, such as those pertaining to retail, healthcare, and transportation, are escalating swiftly as threats rise. Another reason driving the market for bulletproof jackets is the increasing amount of money spent by governments on military.
The market's main growth driver is anticipated to be the increase in military spending by developed and developing nations alike. According to figures released by the Stockholm International Peace Research Institute (SIPRI) in 2021, total worldwide military spending increased to USD 1981 billion in 2020, a rise of 2.6% in real terms from 2019. During the projected period, the rise in terrorism and aggressive activities between various nations in Asia-Pacific, Europe, the Middle East, and Africa is causing these nations to concentrate on acquiring protection solutions for its dismounted infantry, which might drive the market's expansion. Thus, driving the Bullet Proof Vest market revenue.
The global Bullet Proof Vest market segmentation, based on type, includes soft jacket and hard jacket. Soft jacket segment dominated the global market in 2022. The soft jacket is made of a number of layers of woven and laminated fibers and protects security personnel and soldiers from bombs, shotguns, and small-caliber handguns. Ballistic plates are frequently found within soft jackets.
The global Bullet Proof Vest market segmentation, based on end use, includes defense, security & law enforcement, and civilians. Defense segment dominated the global market in 2022. Recent advances in global military might and excessive military budget are to blame for this. However, as attacks, violence, and threats increase globally, there is an increased need for civilian and military protection. As a result, the need for bulletproof clothing in the defense industries will rise.
The global Bullet Proof Vest market segmentation, based on protection level, includes II, IIIA & IIIA+, III & III+, and IV. The II segment dominated the global Bullet Proof Vest market in 2022. Officers of the council, citizens, and even council staff can wear level II body armor. It offers sufficient defense to ensure that a person can withstand an assault without feeling overburdened by the defense. A category of soft armor is Level IIIA and IIIA+. The Level IIIA & IIIA+ and Level III options are made from different materials. In order to provide optimal protection, Level IIIA and IIIA+ body armor can also be utilized in conjunction with other protective panels. Wearing either sort of body armor on the inside or outside is possible.
Figure 1: Bullet Proof Vest Market, by Protection Level, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Bullet Proof Vest Market dominated this market in 2022 (45.80%). The biggest defense spending on the purchase of cutting-edge body armor is blamed for this surge. The only item on which the United States spent USD 284.5 million in 2019 was body armor for the army. The bulletproof vest market is also anticipated to grow thanks to important North American players like Honeywell International, Inc., DuPont, U.S. ARMOR CORPORATION, Point Blank Enterprises, Inc., and others. Further, the U.S. Bullet Proof Vest market held the largest market share, and the Canada Bullet Proof Vest market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: BULLET PROOF VEST MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Bullet Proof Vest market accounted for the healthy market share in 2022. This is due to improved jacket production techniques and government funding schemes. These are the main factors that influence the European market. The anticipated period should see gradual growth in developing regions. This is brought on by a dearth of funding initiatives and cutting-edge technologies. Further, the German Bullet Proof Vest market held the largest market share, and the U.K Bullet Proof Vest market was the fastest growing market in the European region
The Asia Pacific Bullet Proof Vest market is expected to register significant growth from 2023 to 2032. This is because there are many active military and law enforcement personnel in nations like China, India, and South Korea; as a result, it is anticipated that during the projection period, these nations will continue to spend the most on the purchase of bulletproof ballistic protection items. The aging of current bulletproof vests and the rising border tensions between various nations in the region are likely to fuel market expansion. Moreover, China’s Bullet Proof Vest market held the largest market share and the Indian Bullet Proof Vest market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Bullet Proof Vest market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Bullet Proof Vest industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Bullet Proof Vest industry to benefit clients and increase the market sector. In recent years, the Bullet Proof Vest industry has offered some of the most significant advantages to medicine. Major players in the Bullet Proof Vest market, including Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd, are attempting to increase market demand by investing in research and development End Uses.
An organization that offers technology-based materials and solutions is DuPont de Nemours Inc (DuPont), formerly known as DowDuPont Inc. It provides materials and printing systems to the advanced printing sector as well as materials and solutions for the production of integrated circuits and semiconductors, addressing both the front and back ends of the manufacturing process. Adhesives, advanced printing solutions, animal nutrition, building supplies, biomaterials, electronic solutions, textiles, fibers & nonwovens, food & beverage ingredients, industrial films, medical devices, resins, and other products are among the company's product offerings.
In 2005, Armor Express, a privately held business, was founded. The company's main office is in Arlington, Virginia, in the United States, at 4501 North Fairfax Drive, Suite 720. For use by military and law enforcement personnel, high-performance soft and hard body armor is designed and manufactured. Customers can defend themselves in dangerous fighting circumstances thanks to the company's variety of life preservers and body protection equipment.
August 2021, The Queensland Government declared its intention to provide the Queensland Police Service (QPS) with integrated load-bearing vests (ILBV). From December 2021, the 4,750 ballistic plates and vests currently in use will be replaced with 12,200 new integrated load-bearing vests.
June 2021:Â It was recently revealed by scientists at MIT and the California Institute of Technology that they had created a nanoengineered material that is more durable than the steel or Kevlar bulletproof vests now in use. The substance can withstand the impact of minuscule bullets and is composed of connected carbon "tetrakaidecahedrons".
Bullet Proof Vest Type Outlook
Bullet Proof Vest End Use Outlook
Bullet Proof Vest Protection Level Outlook
Bullet Proof Vest Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.3 Billion |
| Market Size 2023 | USD 1.4 Billion |
| Market Size 2032 | USD 2.2 Billion |
| Compound Annual Growth Rate (CAGR) | 6.10% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End Use, Protection Level, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd |
| Key Market Opportunities | The use of composite materials |
| Key Market Dynamics | Rising demand for lightweight body armor from end-use industries such as defense, law enforcement, and civilians and growing awareness of commercial security across the globe |
Bullet Proof Vest Market Highlights:
Frequently Asked Questions (FAQ) :
The global Bullet Proof Vest market size was valued at USD 1.3 Billion in 2022.
The global market is projected to grow at a CAGR of 6.10% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V, MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd
The Soft Jacket Type dominated the market in 2022.
The Defense End Use had the largest share in the global market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
