PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682805
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682805
The global ballistic protection market is experiencing steady growth, driven by the increasing need to safeguard military personnel, law enforcement officers, and vehicles from various threats. In 2024, the market size is estimated at USD 14.5 billion and is projected to reach USD 21.2 billion by 2032, advancing at a compound annual growth rate (CAGR) of 5.0% during the forecast period.
This growth is primarily attributed to the frequent use of ballistic protective materials in military and law enforcement organizations worldwide. These materials are designed to shield personnel and vehicles from projectiles, mines, mortars, falling glass, explosives, and other hazardous materials.
Key Insights
Ballistic protection materials are extensively used to enhance the safety of military personnel and law enforcement officers. These materials provide critical protection against various threats, including bullets, shrapnel, and explosive fragments.
Continuous technological innovations have led to the development of advanced ballistic protection solutions. These advancements focus on improving the effectiveness of protective materials while reducing their weight, thereby enhancing mobility and comfort for users.
Many countries are increasing their defense budgets to strengthen military capabilities. This surge in defense spending is expected to drive the demand for ballistic protection materials, as governments focus on enhancing the safety and survivability of their armed forces.
The expansion of homeland security forces, including police, first responders, and VIP security personnel, is contributing to market growth. The need to protect these individuals from emerging threats has led to increased adoption of ballistic protection solutions.
Ongoing cross-border disputes and geopolitical tensions have heightened the focus on military preparedness. This environment is fostering the demand for advanced ballistic protection materials to ensure the safety of defense personnel in various conflict scenarios.