Body Armor Plates Global Market Report 2023
Major players in the body armor plates market are Armored Republic LLC, BAE Systems, Ceradyne Inc., Craig International Ballistics Pty Ltd, Helweg International, Kejo Limited Company, Pacific Safety Products, Safariland LLC, Point Blank Enterprises Inc, Ace Link Armor, Adept Armor, Canadian Armour Ltd.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Body Armor Plates Global Market Report 2023" - https://www.reportlinker.com/p06486629/?utm_source=GNW
, EnGarde body armor, SafeVest, and Automotive Armor Manufacturing.
The global body armor plates market is expected to grow from $1.86 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 6.22%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The body armor plates market is expected to reach $2.43 billion in 2027 at a CAGR of 5.33%.
The body armor plates market consists of sales of materials like body armor vests, soft armor plates, hard armor plates, concealed vests, full-body tactical armor, and related products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Body armor plates refer to strong plates with a ceramic front or shaped steel sheets composed of compressed polyethylene. It is a vital piece of safety equipment used by law enforcement and prison personnel for personal protection.
North America was the largest region in the body armor plates market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the body armor plates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main materials used in body armor plates are UHMWPE (ultra-high-molecular-weight polyethylene), steel, aramid, composite ceramic, and others.The ultra-high molecular weight polyethylene (UHMWPE) fiber refers to a specific kind of polyolefin fiber.
It is used for comfort during protracted patrols and convenience of movement for maneuvers at high speeds.The body armor plates are available in various levels such as level II, level IIa, level III, level IIIa, level IV, and others.
These are used by defense, law enforcement protection, civilians, and other sectors.
The rising terrorism is expected to boost the growth of the body armor plates market going forward.Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm it would do.
Body armor plates can break up or capture bullets during any terrorist attack.Hence, rising terrorism is contributing to the growth of the body armor plates market.
For instance, according to a report published by the Center for Strategic and International Studies (CSIS), a US-based non-profit organization, in 2022, terrorist acts and conspiracies in the United States increased to 47% in 2020 and 53% in 2021. 43% of all attacks in 2021’s domestic terrorism were directed toward the government, armed forces, and particularly law enforcement. Therefore, the rising terrorism is driving the growth of the body armor plates market.
Product innovation is the key trend gaining popularity in the body armor plates market.Major companies operating in the body armor plates market are focusing on developing new products to lead the market.
For instance, in January 2023, Koninklijke Ten Cate BV, a US-based manufacturer of military armor products for militaries and law enforcement agencies, launched Cratus Wave, a level 3 armor ballistic plate.The unique feature of this launch is the application of trauma reduction technology.
It redistributes pressure waves between the wearer and the rigid body armor plates.This strategy lessens back face deformation, a condition where a projectile hit causes the opposite side of the armor to enlarge and produce blunt physiological stress to soldiers.
Rapid energy dispersion lessens the force that results in blunt trauma.
In January 2021, Sellmark Corporation, a US-based producer of outdoor lifestyle products, acquired BulletSafe for an undisclosed amount.Through this acquisition, Sellmark’s powerful sales staff is well-positioned to guarantee that every police department, security organization, and person may benefit from the security that Bulletsafe devices offer.
BulletSafe is a US-based manufacturer of bulletproof vests, ballistic plates, bulletproof backpack panels, shields, gas masks, and more.
The countries covered in the body armor plates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The body armor plates market research report is one of a series of new reports that provides body armor plates market statistics, including the body armor plates industry’s global market size, regional shares, competitors with a body armor plates market share, detailed body armor plates market segments, market trends, and opportunities, and any further data you may need to thrive in the body armor plates industry. This body armor plates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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