Global Body Armor Plates Market

Body Armor Plates Market Size, Share, Growth Analysis, By Level(Level IIA, Level II), By Material(Steel, UHMWPE), By Application(Defense, Law enforcement protection) - Industry Forecast 2024-2031

Report ID: SQMIG20A2192 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 94 | Figures: 67

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Body Armor Plates Market size was valued at USD 1.79 billion in 2022 and is poised to grow from USD 1.88 billion in 2023 to USD 2.75 billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).

The body armor plates market is highly competitive, driven by factors such as product innovation, research and development, manufacturing capabilities, compliance with standards, strategic partnerships, geographic presence, and customer relationships. Players in the market strive to offer diverse and advanced products, invest in R&D, maintain strong manufacturing capabilities, comply with regulations, form collaborations, establish a presence, and prioritize customer satisfaction. The competitive landscape continuously evolves as companies aim to stay ahead and meet the evolving needs of the market. 'AEGIS Engineering Systems - US', 'Armored Republic, LLC. - US', 'BAE Systems - UK', 'Ballistic Body Armour Pty. – South Africa', 'Ceradyne Inc. (Subsidiary of 3M) - US', 'Craig International Ballistics Pty. Ltd. - Australia', 'Hellweg International - Australia', 'Kejo Limited Company - US', 'Pacific Safety Products - Canada', 'Point Blank Enterprises, Inc - US', 'Safariland, LLC - United States'

The growing demand for body armor plates is driven by the increase in military expenditure by various countries, which is a part of the broader defense industry. Factors such as the escalation of war threats, political conflicts, and tensions between countries contribute to the heightened military spending. Nations like Russia, Brazil, and India have ramped up their defense sector budgets to enhance overall national security. For instance, according to the Indian government's Union Budget, defense spending in India has been increased. India's defense sector is expected to continue expanding in the upcoming years, with a focus on self-reliance and the indigenization of defense production.

Growing Demand from Law Enforcement and Security Sectors: The need for personal protection equipment (PPE) is increasing in law enforcement, security, and civilian sectors due to rising concerns about safety and security. This is driving the demand for body armor plates to protect individuals working in high-risk environments, such as police officers, security personnel, and private contractors.

The North American market took the lead, representing more than 32% of the total revenue in 2022. The region's government has implemented military programs like the Extremity Protection Program (EPP) and Soldier Protection System-Torso (SPS-T), which supply comprehensive body armor to the armed forces. For instance, the EPP focuses on enhancing protection for soldiers' limbs, while the SPS-T aims to provide advanced torso protection. These initiatives are expected to have a cascading effect on the market by stimulating innovation and investment in protective gear, ultimately driving growth in the regional market.

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Global Body Armor Plates Market

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