Body Armor Market Forecast | 2023-2028

Market Highlights

The body armor market is estimated at US$ 2.67 billion in 2022 and is likely to grow at a CAGR of 3.7% during the forecast period to reach US$ 3.4 billion in 2028.

·       To get the full scope of the report, Register Here.·     

What is body armor?

Armor was historically made of metals and alloys. These armors, which were typically constructed of steel, were cumbersome, clumsy, and useless. Heavy metals resulted in increasing the armor's weight, which made it difficult for carriage for an extended period.

However, there has been a shift from the conventional metallic heavy body armor to extremely lightweight and comfortable body armor over the years, which is developed using Ultra High Molecular Weight Polyethylene (UHMWPE) materials. With defense expenditure and law enforcement budgets rising in both developed and developing countries, a sizeable amount is inevitably allocated to procuring these advanced body armor, which aids in fending off threats to the physical safety of the personnel.

Body armor is basically of two types:

Soft armor: Soft body armor constitutes of flexible panels made up of synthetic fiber materials like aramid and polyethylene, typically designed to protect against handgun ammunition, and are primarily worn by law enforcement officials while carrying out regular paramilitary operations.

Hard armor: hard body armor is made up of hard, ballistic-resistant panels and plates, and is intended to provide additional protection as compared to soft armor. Typically, hard body armor is thicker and heavier than soft body armor, as it is a combination of a hard armor plate with a soft armor panel.

These two types of body armor are designed to effectively absorb and fend off physical assaults and ballistic ammunition.

The body armor market is driven by a host of factors, some of which are noted below:

• Increase in terrorism, mass shootings, and gun violence across the globe.
• Law enforcement officers and military personnel have come to heavily rely on body armor, in order to ensure their protection and survival, during anti-terrorist military operations.
• Cross-border conflicts and geopolitical tensions are on the rise around the world.
• The Russia-Ukraine crisis serves as a recent example. Such factors propel the development and sales of body armor products globally. 

Segment Analysis

Key Players

The following are the key players in the body armor market:  

• Point Blank Enterprises, Inc.
• Safariland, LLC.
• Armor Express
• Mehler Vario System
• Beijing Tongyizhong New Material Technology Corporation
• XTEK Group
• U.S. ARMOR CORPORATION
• Mars Armor
• Senken Group Co., Ltd
• Craig International Ballistics Pty. Ltd.

The market is fairly consolidated with the presence of some global and regional players. As most of the companies are US based, their primary focus is to tap the domestic market and gradually increase their regional penetration. These companies predominantly compete based on their product quality, weight, comfort level, price, and the level of protection offered.

Several companies are shifting towards the use of UHMWPE, due to the large demand for lightweight body armor, which further increases the market competition globally. Some companies are providing complete body armor solutions including soft armor, hard armor, and armor plates.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s body armor market realities and future market possibilities for the forecast period.

The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Recent Development

Currently, there is a large demand for lightweight body armor that provides ample protection against bullets and ammunition, concurrently providing ample mobility. The emergence of nanotechnology will facilitate the creation of body armor vests that are both lighter and more durable.

Liquid armor is a new product being developed by BAE Systems and Helios Global Technologies. As liquid armor works on the principle of non-Newtonian fluid, it changes its viscosity when put under stress. In other words, the liquid armor hardens to become a solid, absorbing the impact of the bullet. The liquid armor is also flexible, lighter, and stronger than traditional bulletproof vests.

In March 2022, the United Kingdom's Armed Forces announced new armor upgrades for women in their armed forces. ENHANCED PROTECTIVE EQUIPMENT: The Virtus upgradeable tactical vest is the result of a partnership between multiple defense departments and industry organizations, including Source Tactical Gear, the Defence Science and Technology Laboratory, and Defence Equipment and Support.

In January 2022, China tested the idea of ??developing the "world's first shield" capable of withstanding armor-piercing ammunition. The country's growing armed conflicts with neighboring countries require better armor for its ground forces. The country is developing lightweight and flexible body armor to protect soldiers from armor-piercing ammunition. Therefore, strong demand from the military and law enforcement agencies is expected to drive the Asia-Pacific armor market over the forecast period.

In April 2022, MKU launched the next-generation Kavro body armor system, inspired by the battlefield challenges faced by modern soldiers. The body armor system is modular, and customizable, and consists of many integrated components that work together to increase operational efficiency. It consists of an integrated backpack, the Insta "ILDS" load distribution system, a laser-cut MOLLE system, a quick-release system, and a hydration pack. Such changes are likely to pave the way for the body armor market and complete the growth trajectory over the assessment period.