Soft Body Armor Market Analysis | 2023-2028

Market Insights

The soft body armor market was valued at US$ 926.4 million in 2022 and is likely to reach an annual market size of US$ 1210.7 million in 2028 at an exceptional CAGR of 4.3% during the forecast period of 2023-2028. It is projected that the sales of soft body armor will cumulatively reach US$ 6,607.1 million during 2023-2028.

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Market Dynamics

Introduction

Soft body armor is the protective clothing that is usually worn by law enforcement personnel, EMS workers, and firefighters in various situations due to the escalating geopolitical conflict and the rise in violent and terrorist acts.

These bulletproof vests protect against ammunition fired from short-barrel handguns, improve the soldier’s survivability, and protect the army personnel and special police task forces. Law enforcement officials, who are more likely to encounter low-level ballistic threats, typically utilize soft body armor to provide adequate ballistic protection.

Over the past three decades, soft body armor has reportedly saved the lives of over 3,000 police officers in the United States, according to the National Institute of Justice (NIJ).

Market Drivers

The overall industry dynamics are changing with the increasing focus on the development of lightweight soft body armor products that stand up to complex threats and ultimately save the lives of law enforcement officers, military personnel, and civilians while providing flexibility and comfort. Increasing R&D investments focused on improving the soldier’s comfort and enhancing their protection and survivability will fuel the soft body armor market growth in the coming years.

The growing usage of improved raw materials in order to decrease the weight of ballistic protection equipment is anticipated to create new market opportunities. Therefore, soft body armor manufacturers are demanding lighter protective solutions, thus, driving the raw material companies’ product development and increasing the industry’s competitiveness for life protection.

In the beginning, a lot of effort was put into manufacturing soft body armor using conventional materials, such as fiberglass and nylon. However, due to the increased demand in terms of mobility and flexibility, many armor manufacturers have shifted to the usage of high-performance materials like UHMWPE and aramid fibers, which demonstrate outstanding strength-to-weight properties, and a high tenacity and ballistic performance.

Market Segmentation

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Key Players

The market is fairly consolidated with the presence of some regional and global 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 focus on the usage of UHMWPE, due to the large demand for lightweight body armor, which further increases the market competition globally. Several armor manufacturers offer complete soldier protection solutions including helmets. 

The following are some of the key players in the soft body armor market:

• Point Blank Enterprises, Inc.
• Safariland, LLC.
• Armor Express
• Mehler Vario System
• SM Group
• XTEK Group
• Beijing Tongyizhong New Material Technology Corporation
• Senken Group Co., Ltd
• MARS Armor
• US Armor Corporation

Note: The above list does not necessarily include all the top players in the market.

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Recent Development

Currently, there is a large demand for lightweight soft body armor that provides ample protection against bullets, concurrently providing ample mobility. With law enforcement budgets and military expenditure rising in both developed and developing countries, a sizeable amount is being inevitably allocated to the procurement of these advanced body armor, which aids in fending off threats to the physical safety of the personnel.

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.

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.

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 market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

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

 By Product Type 

• Ballistic-Resistant Armor
• Stab-Resistant Armor
• Combined-Resistant Armor

By Material Type 

• Aramid
• UHMWPE
• Others

By Level of Protection Type

• Level IIA
• Level II
• Level IIIA
• SP1/KR1
• SP2/KR2
• SP3/KR3
• Level IIA + SP/KR/SP-KR
• Level II + SP/KR/SP-KR
• Level IIIA + SP/KR/SP-KR

By End-User Type

• Military
• Homeland Security
• Commercial

By Mode of Operation Type 

• Covert Operation
• Overt Operation

By Region

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

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s soft body armor market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner 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.

Customization Option

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

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 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.