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    Hard Body Armor Market Report

    Hard Body Armor Market Report
    Report code - SR2369 Published On : Feb,2023 No. of Pages: 115
    Hard Body Armor Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppo See more...

    Market Highlights

    Hard body armor consists of plates usually made up of steel, ceramic, or composite materials, which are covered and interlocked with one another via a more pliable armor shell, thereby, forming the body armor vest. Typically, hard body armor is sold in two separate parts: the enclosing system, which resembles the outside shell of a vest, and the actual armor plates that fit within the vest. Hard body armor protects steel-core armor-piercing rifle ammunition as well as lead-core rifle ammunition, which are typically used for hunting and target shooting. As it offers a high degree of protection against military-grade firearms and ammunition, hard body armor is widely used by military forces, globally.

    Currently, there is a large demand for lightweight hard body armor that protects against high-velocity rounds, which are engineered with an energy dissipation mechanism. The high strength and low-density solution of the hard armor aid in making the product extremely durable and lightweight, concurrently providing ample mobility and endurance. The hard body armor is majorly developed using a ceramic material, which is strong enough to smash a bullet upon impact and challenge any sort of material penetration.

    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) composite materials. With defense expenditure and law enforcement budgets rising in both developed and developing countries, a sizeable amount is being inevitably allocated to the procurement of these advanced body armor, which aid in fending off threats to the physical safety of the personnel.

    The demand for hard body armor is primarily being driven by the rising geopolitical conflicts coupled with the growing threat of terrorism, across the world. In addition, cross-border conflicts and geopolitical tensions are on the rise around the world, with the Russia-Ukraine crisis serving as a recent example. Such factors propel the development and sales of hard body armor products globally. Overall, the global hard body armor market is expected to expand at a compound annual growth rate (CAGR) of 3.3% from 2023 to 2028.

    Recent Market JVs and Acquisitions:

    There have been several strategic alliances including M&As, JVs, etc. performed over the past few years. Some of them have been mentioned below:

    • In October 2019, HighCom Armor Solutions Inc., a US-based ballistic armor manufacturer was acquired by XTEK Group.
    • In February 2018, KDH Defense merged with Armor Express, forming one of the biggest producers and suppliers of body armor and protective gear globally.

    Market Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Product-Type Analysis

    Ballistic-Resistant Armor and ICW Armor.

    ICW armor is likely to be the dominant category and is also expected to witness faster growth by product type, in the coming years.

    Level of Protection Type-Analysis

    Level III, Level IV, Level III+ Level IIIA/II, and Level IV+ Level IIIA/II.

    Level IV+ Level IIIA/II  is expected to be the biggest as well as the fastest-growing protection type, in the foreseen future.

    Material-Type Analysis

    Ceramic, UHMWPE, Aramid, and Others.

    Ceramics is expected to be the dominant material. UHMWPE is expected to be the fastest-growing material type, in the coming years.

    End-User-Type Analysis

    Military, Homeland Security, and Commercial.

    Military is likely to be the biggest generator, whereas homeland security is likely to be the fastest-growing end-user type, during the forecast period.

    Mode of Operation Type-Analysis

    Covert Operation and Overt Operation.

    Overt operation is estimated to be the dominant and also the fastest-growing mode of operation type, in the coming years.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    North America is expected to be the dominant market and Asia-Pacific is likely to be the fastest-growing market by region, during the forecast period.

     
    Based on product type, the market is segmented into ballistic-resistant armor and ICW (In-Conjunction With) armor. The ballistic-resistant armor is certified by the NIJ National Institute of Justice (NIJ) for protection against two threat levels, Level III and Level IV. whereas level III ballistic-resistant armor is used to stop lead-core rifle ammunition, level IV armor is usually used to stop steel-core armor-piercing rifle ammunition. On the other hand, the ICW hard body armor is also NIJ-certified and has an additional soft body armor panel coupled with hard plates. the ICW armor is likely to witness the highest demand from both, military and homeland security applications, in the coming years.

    Based on the level of protection type, the market is segmented into level III, level IV, level III + level IIIA/II, and level IV + level IIIA/II. The level IV+ level IIIA/II protection type is expected to remain the biggest category and is also likely to witness the fastest growth during the forecast period. The protection type covers protection against the steel-core armor-piercing rifle ammunition as well as offers additional soft armor protection. As a result, it is likely to draw a huge demand from the military and law enforcement, throughout the forecast period.

    Based on the material type, the market is classified as ceramic, UHMWPE, aramid, and others. Among these materials, ceramic is one of the materials which is a high-priority choice for hard body armor manufacturers as it is thinner and more economical than polyethylene, and lighter and stronger than steel. As a result, it is expected to remain the dominant material type in the market during the forecast period. Similarly, UHMWPE is expected to be the fastest-growing material type, owing to its several advantages, such as lighter weight, durability, strength, and slower decay from air and water as compared to other composite materials.

    On the basis of end-user type, the market is classified as military, homeland security, and commercial. Among these end-users, military is expected to maintain its dominance in the market during the forecast period, owing to the large demand for hard body armor during military operations, such as border conflicts and counter-terrorist missions. Hard body armor products are used in large volumes as they are deployed for soldiers, who are engaged in military operations for protection against armor-piercing bullets and ammunition. With increasing investments by the US DHS (Department of Homeland Security) and other law enforcement agencies in different countries for the safety of their police officers and law enforcement personnel, the demand for hard amor from homeland security is anticipated to witness the highest growth, in the coming five years.

    Based on the mode of operation, the market is segmented into covert operation and overt operation. As most of the military and homeland security operations follow an overt mode of operation, the market category is estimated to maintain its supremacy as well as witness faster growth in the market, during 2023-2028.

    In terms of regions, North America is expected to remain the largest market for hard body armor, throughout the forecast period. This is majorly attributed due to the large expenditure by the US Department of Defense (DoD) and the US Department of Homeland Security (DHS) on body armor products. The region is also home to market-leading companies, such as Point Blank Enterprises, Inc., Safariland, LLC, and Armor Express, which are also the major contractors for the US DoD and the US DHS.

    Likewise, the Asia-Pacific region is also likely to create sizeable opportunities in the coming five years, driven by the increasing military expenditure in the countries such as China and India, coupled with the rising terror threats and geopolitical tensions. Also, the presence of local companies, such as Beijing Tongyizhong New Material Technology Corporation and Senken Group Co., Ltd, is increasing the regional market attractiveness.

    Key Players

    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 to the usage of UHMWPE, due to the large demand for lightweight body armor, which further increases the market competition globally. The following are some of the key players in the hard body armor market:

    • 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
    • Craig International Ballistics Pty. Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hard 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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The hard body armor market is segmented into the following categories: 

    Hard Body Armor Market, by Product Type

    • Ballistic-Resistant Armor (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • ICW Armor (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Hard Body Armor Market, by Level of Protection Type

    • Level III (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Level IV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Level III+ Level IIIA/II (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Level IV+ Level IIIA/II (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Hard Body Armor Market, by Material Type

    • Ceramic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • UHMWPE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Aramid (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Hard Body Armor Market, by End-User Type

    • Military (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Homeland Security (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Hard Body Armor Market, by Mode of Operation Type

    • Covert Operation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Overt Operation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Hard Body Armor Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Italy, Ukraine, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, South Korea, India, Australia, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, Israel, and Others)

    Customization Options

    With this detailed report, 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

    A Bird's Eye View of the Market

    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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