Body armor plates provide protection against bullets, shell fragments, and knives and are essential for ensuring the safety of soldiers and law enforcement personnel involved in combat and hostile situations. The growing incidences of terrorist activities and riots have spurred the demand for higher protection combat gear, which is driving the adoption of body armor plates.
The global Body Armor Plates Market is estimated to be valued at US$ 2.34 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of body armor plates by military and law enforcement forces remains a key trend driving the growth of the body armor plates market. Combat gear manufacturers are increasingly developing advanced body armor plates that provide multi-hit capabilities and can withstand impacts from high-velocity bullets fired from assault rifles. For instance, some manufacturers offer plates rated for threat levels up to Type IV protection, which can withstand armor-piercing rounds. The deployment of modern army units armed with advanced assault weapons has prompted investments in protective body armor solutions with enhanced ballistic capabilities. This is fueling innovation in body armor plate materials and designs.
Segment Analysis
The global body armor plates market is segmented by type, product type, material and application. Based on type, the market is categorized into level II-A, level II, level III-A, level III, and level IV. Level III plates dominate the market as they provide protection against rifle rounds and are increasingly used by military and law enforcement agencies. The level III plates segment accounted for the largest market share in 2019 as they provide better ballistic protection compared to level II and level IIA plates.
Key Takeaways
The Global Body Armor Plates Market Size is expected to witness high growth over the forecast period. The global Body Armor Plates Market is estimated to be valued at US$ 2.34 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Regional analysis
North America currently dominates the body armor plates market accounting for over 40% of the global market share in 2019. This is mainly due to increased adoption of body armor by law enforcement agencies and military forces in countries like the US and Canada. Asia Pacific is expected to witness the fastest growth over the forecast period with China and India being the major markets. Increasing defense modernization programs and rising terrorism activities are fueling the demand for body armor plates in Asia Pacific.
Key players
Key players operating in the body armor plates market are WillScot, KDH Defense Systems, ArmorSource, PBE, Survitec Group Limited, Sarkar Defense Solutions, MKU Limited, and Safe Life Defense. WillScot and PBE are leading players and account for over 15% share each of the global body armor plates market. WillScot offers lightweight and high-performance body armor plates for both military and law enforcement applications.
Get More Insights Here
https://whotimes.com/beyond-borders-exploring-the-allure-and-impact-of-mice-events-across-the-united-states/
https://www.newswirestats.com/body-armor-plates-market-size-share-growth-outlook-2023/
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