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Hard Body Armor Market Report
Hard Body Armor Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
The hard body armor market is estimated to grow at a CAGR of 3.3% by 2028, driven by the factors, such as rising geopolitical tensions, high military expenditure, and increasing law enforcement budgets, particularly in the USA and several European countries.
Point Blank Enterprises, Inc., Safariland, LLC., Armor Express, Mehler Vario System, Beijing Tongyizhong New Material Technology Corporation, U.S. ARMOR CORPORATION, XTEK Group, MARS Armor, Senken Group Co., Ltd, and Craig International Ballistics Pty. Ltd. are the leading players in the hard body armor market. These companies focus on developing lightweight and durable hard body armor products, which are in high demand of late.
North America is estimated to maintain its dominance in the hard body armor market in the foreseen future, owing to the presence of key players in the market coupled with the rising military expenditure and homeland security budget. The leading companies in the region, such as Point Blank Enterprises, Inc., Safariland, LLC, and Armor Express, are also the major contractors for the US DoD and the US DHS, which also adds an impetus to their market supremacy.
Asia-Pacific is estimated to be the fastest-growing region for hard body armor in the foreseen future owing to the increasing military expenditure of countries such as China and India, coupled with the rising terror threats and geopolitical tensions in the region.
ICW armor is estimated to be the dominant product type in the coming years, owing to the highest protection level offered with additional soft armor protection, driving its usage in both, military and law enforcement.
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