Body Armor Plates Market Analysis | 2023-2028

Market Insights

"The global body armor plates market size was estimated at USD 0.93 billion in 2022 and is likely to grow at a CAGR of 3.8% during 2023-2028 to reach USD 1.17 billion in 2028."

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Body armor plates, also known as ballistic plates or armor inserts, are protective panels that serve as shields and are designed to provide additional ballistic protection to the wearer’s torso against bullets and shrapnel. The primary usage of body armor plates is in personal protective equipment (PPE) for military, law enforcement, and security forces, as a person requires an additional layer of defense to their bulletproof vests against rifle and handgun rounds. These individuals face potential risks in their line of duty and require additional protection beyond what soft body armor can provide. Body armor plates are inserted into specially designed plate carriers or vests to create a protective barrier over the vital organs. These plates are commonly made from strong and durable materials such as ceramics, steel, or ultra-high-molecular-weight polyethylene (UHMWPE). These materials are chosen for their ability to absorb and dissipate the energy of a projectile, reducing the risk of injury to the wearer. The materials are engineered to withstand the impact of bullets and maintain their structural integrity, even after multiple hits.

Body armor plates are available in various types, sizes, and configurations to suit the different needs of users. They can be incorporated into different types of body armor carriers, such as vests, plate carriers, or tactical rigs. This versatility allows the users to choose the level of protection they require based on the threat level and their specific role. Moreover, several advancements in material technology have made these plates lighter and more comfortable to wear. This allows the users to maintain a higher level of mobility and flexibility during operations, reducing fatigue and enhancing overall performance. In addition, the manufacturers have lately been focused on the development of advanced body armor plates, which can provide additional personal protection, such as side panels, while maintaining the same level of protection and reducing the weight of individual inserts without any effect on the overall body armor weight.

Market Dynamics

Market Drivers

The major factors driving the growth of the body armor plates market are:

• Rising geopolitical tensions.
• High military expenditure.
• Increasing law enforcement budgets, particularly in the USA and several European and Asian countries.

Recent Product Developments: All members of the armed services (Special Forces or police officers) use armor plates for personal safety and operational improvement. Therefore, it becomes paramount to develop advanced armor plates to protect the troops who heroically stand in the line of duty to defend their country. Some of these developments have been mentioned below:

• In November 2022, TenCate Advanced Armour launched the Cratus Wave, a new thin Level III body armor ballistic plate with a patented design that redirects the pressure trapped between the wearer and the armor plates that are inserted into the front and back pockets of the body armor carriers, thereby, reducing the back face deformation.
• In August 2021, KIHOMAC Armor Systems, a USA-based company, launched the Ceridium body armor plates. These ceramic plates are multi-curve, SAPI-cut, lightweight, and equipped with an avant-garde thermoplastic polyurethane spall cover. The spall cover enhances comfort and protection by providing waterproofness, mildew resistance, and UV protection.

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

• In October 2019, HighCom Armor Solutions Inc., a US-based ballistic armor and armor plate 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, armor plates, and protective gear globally.

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Segments Analysis

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Level of Protection Trends

"The level IV segment accounted for the largest market share."

The market is segmented into level IIIA, level IIIA + SP/KR/SP-KR, level III, level IV, level III + level IIIA/level II, and level IV + level IIIA/level II. The level IV protection type is expected to generate the largest demand during the forecast period, as the armor plate protects the steel-core armor-piercing rifle ammunition. As a result, it is likely to draw huge demand from several defense and law reinforcement authorities throughout the forecast period.

Material Trends

"The ceramic segment accounted for the largest market share."

The market is segmented as ceramic, UHMWPE, aramid, and others. Among these materials, ceramic is one of the materials that is a high-priority choice for body armor plate 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.

End-User Trends

"The military segment accounted for the largest market share."

The market is segmented into military, homeland security, and commercial. Among these end-users, the military is expected to maintain its dominance in the market during the forecast period, owing to the large demand for body armor plates during military operations, such as border conflicts and counter-terrorist missions. These plates are also used in large volumes as they are deployed across every soldier who is engaged in a military operation for protection against armor-piercing bullets and ammunition.

Regional Insights

"North America accounted for the largest market share."

North America is expected to remain the largest market for body armor plates throughout the forecast period. This is majorly attributed to the large expenditure by the US Department of Defense (DoD) and the US Department of Homeland Security (DHS) on body armor plates, for the protection of their armed troops and homeland security personnel. The region is also home to market-leading companies such as Point Blank Enterprises, Inc., HESCO, Hardwire LLC, and Armor Express, which are also 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 countries such as China and India, coupled with rising terror threats and geopolitical tensions. Also, the presence of local companies, such as Beijing Tongyizhong New Material Technology Corporation and MKU LIMITED, is increasing the regional market’s attractiveness. As a result, the Asia-Pacific region is expected to witness the fastest market growth during the forecast period.

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Key Players

The market is highly populated with the presence of several local, 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, price, and the level of protection offered. Several companies are shifting to the usage of UHMWPE instead of ceramic or steel, due to their competitive pricing and the large demand for lightweight body armor plates, which further increases the market competition globally. The following are the major players in the body armor plates market:

• Point Blank Enterprises, Inc.
• Armor Express
• Mehler Vario System
• HESCO
• Tencate Advanced Armor
• Hardwire LLC
• MARS Armor
• Beijing Tongyizhong New Material Technology Corporation
• XTEK Group
• MKU LIMITED

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

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s body armor plates 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 market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Market Segmentation

This report studies the market covering a period of 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 body armor plates market is segmented into the following categories.

By Armor Type

• Soft Armor Plates
• Hard Armor Plates

By Product Type

• Stand Alone Armor Plates
• Combined-Resistant Armor Plates
• ICW Armor Plates

By Level of Protection Type

• Level IIIA
• Level IIIA + SP/KR/SP-KR
• Level III, Level IV
• Level III + Level IIIA/Level II
• Level IV + Level IIIA/Level II

By Material Type

• Ceramic
• UHMWPE
• Aramid
• Others

By End-User Type

• Military
• Homeland Security
• Commercial

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: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report 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.

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