19 February 2021
Ballistic Protection Market is foreseen to propel from USD 12.6 billion in 2020 to USD 17.2 billion by 2025, and also register a CAGR of 6.4% during the projection period of 2021 to 2026.Disable Third Party Ads
Ballistic protection offers safety against penetration of projectiles of many speeds, shapes, and sizes. They are widely used in applications such as military, homeland, defense, and commerce. The material used to make the ballistic protection is selected based on its ability to absorb energy, as well as the speed and efficiency of that energy transfer.
Rising geopolitical tensions in emerging economies and massive defense spending due to internal conflicts and tensions in developing countries, such as Brazil, India and Russia, are expected to drive the growth of the ballistic protection industry in the coming days.
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In March 2020, BAE Systems received a $ 339 million contract amendment from the US military for the production of 48 vehicle sets of the M109A7 self-propelled howitzer (SPH) and its partner, the M992A3 transporter, ammunition, tracked vehicle (CAT). This contract further includes support after delivery, along with the provision of spare parts.
In December 2019, BAE Systems received a $ 249 million contract amendment from the US Army to complete an additional 60 M109A7 self-propelled howitzers that will enhance the artillery capabilities of El Armored Brigades combat teams. Army.
In December 2019, Rheinmetall AG won a contract with the Royal Netherlands Armed Forces for the second phase of modernization of its Bergepanzer 3-Büffel / Buffalo armored recovery vehicle fleet.
In December 2019, Leonardo Helicopters signed a deal with Permali for the delivery of a ballistic protection system for using in Royal Navy’s new Commando Merlin Mk4 helicopters.
In October 2019, BAE Systems received a $ 120 million contract from the United States Marine Corps for additional amphibious combat vehicles as part of the Low Rate Initial Production Third Order (LRIP).
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Ballistic Protection Market segmentation:
Among products, the personal protective equipment segment is expected to show lucrative revenue growth in the near future. Personal protective equipment is designed to provide protection against biological, thermal, electrical, chemical, and physical hazards. Includes glasses, aids, clothing, etc. Different materials such as glass, Kevlar, Lexan, fiber, and aramid are used for the manufacture of protective equipment or clothing.
By technology, the soft armor personal protective equipment segment is expected to register strong growth in terms of revenue during the forecast period.
By platform, the airborne segment is expected to grow at a higher CAGR over the forecast period. It includes fixed-wing aircraft and helicopters and unmanned aerial vehicles (UAV). There is a growing demand for aircraft on various aerial platforms for military purposes. This demand is attributed to increased military spending in several countries, including China, Japan, South Korea, and the United States. The UAV segment is expected to experience the highest CAGR for the 2020-2025 forecast period. The growth of this segment is mainly credited to recent trends in the warfare dynamics that led to the arrival of drones on the battlefield.
By application, the Homeland Security segment is expected to grow at a higher rate than the military segment during the forecast period. Homeland Security officers wear a tough bulletproof vest in the field to protect against specific ballistic threats. National security officers use personal protective equipment, including bulletproof vests, ballistic helmets, and gloves, to ensure safety during any mission. Ballistic helmets can offer protection to the user by securing them from small arms fire and fragmentations. The combat systems used by National Security agents are resistant to ballistics because ceramics and thermoplastics strengthen them.
At present, the North American market represents a significant share in terms of revenue and is expected to maintain its dominance during the outlook period. The high military budget and the presence of key players are factors that support the growth of the target market in countries like the United States and Canada in this region. Moreover, the increasing demand for armor for commercial vehicles is another factor that is estimated to drive the growth of the ballet protection market in North America. Europe represents the second-highest revenue share of the world market. However, defense budget cuts, due to the economic crisis in countries in this region, could affect the growth of the target market in the projection period.
The Asia-Pacific market is likely to show lucrative revenue growth in the near future, followed by the Middle East, Africa, and Latin America. The rising military budget in countries like China and India and the adoption of logistics support equipment are growth factors in the ballistic protection market in the Asia-Pacific.
Key market players:
Some of the major players in the global ballistic protection market are BAE Systems (UK), 3M (US), Rheinmetall AG (Germany), Koninklijke Ten Cate Bv (Netherlands), Point Blank Enterprises, Inc (United States), MKU Limited (India), Elmon (Greece), FMS Enterprises Migun Ltd (Israel), Permali (United Kingdom), Revision Military (United States), Saab AB (Sweden) and Survitec Group Limited (United Kingdom).