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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Body Armor market for 2018-2023.
The importance of body armor can be understood from the fact that it helps to protect personnel by acting as a shield against weapon attacks. Historically, its use was mostly limited to the military sector, but nowadays it is often used by the police, security guards and civilians as well.
The ongoing soldier modernization programs initiated by several governments across the globe are augmenting the sale of body armor. Organizations are also investing in state-of-art armor as they come with enhanced mobility, lethality, sustainability, and survivability, states Transparency Market Research. The increasing investments in research and development activities to develop light-weight materials and to incorporate technical precision in manufacturing body armor suits is likely to drive the growth of the market in the near future. The rising threats of terrorism due to political instability are also expected to boost the demand for body armor in the near future.
North America held a leading share of 50.3% in the global market in terms of revenue. By the end of 2021, this share will rise marginally to 50.4%. The persistent acquisition of advanced equipment by military organizations in the U.S. is the primary growth driver for the body armor market. Furthermore, the high incidence of handgun crimes is also likely to spur the demand for body armor during the forecast period.
Over the next five years, LPI(LP Information) projects that Body Armor will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Body Armor market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Type 1
- Type 2A
- Type 2
- Type 3A
- Type 3
- Type 4
Segmentation by application:
- Law Enforcement Protection
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Point Blank Enterprises
- Kejo Limited Company
- Hellweg International
- Craig International Ballistics
- Ballistic Body Armor
- BAE Systems
- AR500 Armor
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Body Armor consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Body Armor market by identifying its various subsegments.
- Focuses on the key global Body Armor manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Body Armor with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Body Armor submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.