Bulletproof Vests Market is Expected to Reach $3.2 Billion, Globally, by 2032 at 6.4% CAGR: Allied Market Research

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Nov 21, 2023, 00:30 ET

Rise in insurgency activities and geopolitical conflicts, advancements in lightweight and durable ballistic materials, and increase in defense spending drive the growth of the bulletproof vests market

PORTLAND, Ore., Nov. 21, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Bulletproof Vests Market by Type (Soft Bulletproof Vest, and Hard Bulletproof Vest), Protection Level (II, IIA, III, IIIA, and IV), and End User (Military and Law Enforcement, and Civil): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global bulletproof vests industry size generated $1.8 billion in 2022, and is anticipated to generate $3.2 billion by 2032, witnessing a CAGR of 6.4% from 2023 to 2032.

Prime determinants of growth

Factors such as rise in insurgency activities and geopolitical conflicts, advancements in lightweight and durable ballistic materials, and increase in defense spending drive the growth of the bulletproof vests market. However, high cost of advanced body armor materials, and weight and thermal burden hinder the growth of the market. Furthermore, integration of smart textiles, sensors, and increase in demand for specialized bulletproof vests tailored to specific industry needs offer remarkable growth opportunities for the players operating in the bulletproof vests market.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$1.8 billion
Market Size in 2032	$3.2 billion
CAGR	6.4 %
No. of Pages in Report	330
Segments covered	Type, Protection Level, End User, and Region
Drivers	Rise in insurgency activities and geopolitical conflicts Advancements in lightweight and durable ballistic materials Increase in defense spending
Opportunities	Integration of smart textiles, sensors, and communication devices Increase in demand for specialized bulletproof vests tailored to specific industry needs
Restraints	High cost of advanced body armor materials Weight and thermal burden

Impact of Russia-Ukraine War

The Russia-Ukraine war has led to surge in demand of bulletproof vests within conflict zones. Military and law enforcement agencies in regions directly affected by the hostilities, particularly Ukraine, have experienced an urgent need for advanced protective gear.
The Russia-Ukraine war has exerted a multifaceted impact on the global bulletproof vests market, influencing key aspects of production, demand dynamics, and strategic considerations within the industry.

The soft bulletproof vest segment to maintain its leadership status during the forecast period

Based on type, the soft bulletproof vest segment held the highest market share in 2022, accounting for more than half of the global market revenue and is estimated to maintain its leadership status during the forecast period. The segment is also expected to register the highest CAGR of 6.8% from 2023 to 2032. The soft bulletproof vests segment is witnessing growth due to a greater focus by manufacturers on developing lightweight, flexible fabrics that enhance comfort and reduce fatigue compared to traditional heavy Kevlar-only designs. The wider adoption of soft vests among police forces globally is a major growth factor, as the improved comfort and ergonomics compared to plate carriers allows comfortable all-day use while on patrol duties. Demand from private security personnel, VIPs, and civilians in high-risk occupations that requires concealed protection rather than bulky tactical armor is also propelling market revenue.

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The protection level III, IIIA segment to maintain its leadership status during the forecast period

Based on protection level, the III, IIIA segment held the highest market share in 2022, accounting for more than half of the global market revenue and is estimated to maintain its leadership status during the forecast period. The segment is also projected to manifest the highest CAGR of 7.4% from 2023 to 2032. Protection Levels III and IIIA are witnessing dynamic trends and growth factors shaped by the multifaceted security challenges faced by military and law enforcement personnel. A notable trend is the increasing demand for versatile vests capable of providing comprehensive protection against a spectrum of ballistic threats, including handguns and certain rifle rounds.

The military and law enforcement segment to maintain its leadership status during the forecast period

Based on end user, the military and law enforcement segment held the highest market share in 2022, accounting for more than four-fifths of the global market revenue and is estimated to maintain its leadership status during the forecast period. The segment is also projected to manifest the highest CAGR of 6.6% from 2023 to 2032. The rise in threats from small arms, shrapnel, and armor-piercing ammunitions faced by forces conducting counterinsurgency and urban combat operations are key growth drivers of the market. Mandatory body armor policies instituted by police departments are also increasing procurement. Ongoing technological advances enabling lighter, cooled, connected vests drive adoption from forces looking to upgrade aging protective gear.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global market revenue. There is increase in demand for advanced protective solutions driven by rise in security threats in North America. Law enforcement agencies in the U.S. are actively seeking innovative vests that provide not only ballistic resistance but also incorporate features like modularity and compatibility with tactical gear. The trend towards multifunctional vests aligns with the evolving needs of security personnel facing complex and unpredictable threats.

Asia-Pacific is expected to witness the fastest CAGR of 7.5% from 2023 to 2032. Countries like China and India are investing significantly in upgrading the capabilities of their armed forces, including the adoption of advanced protective gear. This trend is fostering the demand for vests that offer not only ballistic resistance but also enhanced features such as modularity, compatibility with additional equipment, and adaptability to diverse operational environments.

Key Highlights:

The report examines segments including soft bulletproof vests and hard bulletproof vests, evaluating their market presence in diverse regions such as North America, Europe, Asia-Pacific, and LAMEA.
This study integrates top-tier data, professional opinions, and analytical insights, along with critical independent perspectives. The research methodology aims to offer a well-rounded perspective on global markets, empowering stakeholders to make informed decisions that align with their ambitious growth objectives.
To enhance our market understanding, a thorough review of over 3,700 product literature pieces, annual reports, industry statements, and comparable materials from major industry participants was conducted.

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Leading Market Players: -

Point Blank Enterprises, Inc.
MARS Armor Ltd.
U.S. Armor Corporation
VestGuard UK Ltd.
Armor Express
MKU Limited
Slate Solutions
Safariland, LLC.
EnGarde Body Armor
ARGUN s.r.o.

The report provides a detailed analysis of these key players of the global bulletproof vests market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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