The Body Armor Plates Market is likely to grow at a significant CAGR of 3.8% during 2023-2028, to reach US$ 1.17 Billion in 2028, states Stratview Research.
DETROIT, Nov. 27, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the body armor plates market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Market Size in 2028
US$ 1.17 Billion in 2028
3.8% during 2023-2028
Number of Segments Covered
Number of Tables & Graphs
Country-Level Market Assessment
Segment Insights on Body Armor Plates Market
The body armor plates market is segmented based on armor type, product type, level of protection type, material type, end-user type, and region.
Based on armor type- The market is segmented into soft armor and hard armor plates. Hard armor plates are designed to stop rifle rounds and provide higher protection against armor-piercing ammunition. On the other hand, soft armor plates are designed to protect against lower-velocity handgun rounds and have limitations against armor-piercing ammunition. In addition, the hard armor plates are highly durable and resistant to wear and tear as compared to their soft armor counterparts. Moreover, they can withstand multiple hits without compromising their effectiveness. As a result, hard armor plates are likely to generate a larger demand from military and law enforcement users throughout the forecast period.
Based on product type- The market is segmented into ICW, combined-resistant, and stand-alone plates. ICW plate is expected to remain the dominant product type during the forecast period. The ICW plates are intended to be inserted into a carrier or vest with soft armor components, such as Kevlar or other ballistic fabrics. The combination of the ICW plate and the soft armor creates a multi-hit system that offers increased protection against a variety of threats, including bullets and projectiles. Through the combined properties of both hard and soft armor, ICW plates provide a balance between increased protection and improved comfort and flexibility. The soft armor layer helps absorb and distribute the impact energy, while the hard armor plate provides resistance against penetration.
Based on the level of production type- The market is segmented into level IIIA, level IIIA + SP/KR/SP-KR, level III, level IV, level III + level IIIA/level II, and level IV + level IIIA/level II. The level IV protection type is expected to generate the largest demand during the forecast period, as the armor plate protects the steel-core armor-piercing rifle ammunition. As a result, it is likely to draw huge demand from several defense and law reinforcement authorities throughout the forecast period.
Based on material type- The market is segmented as ceramic, UHMWPE, aramid, and others. Among these materials, ceramic is one of the materials that is a high-priority choice for body armor plate manufacturers, as it is thinner and more economical than polyethylene, and lighter and stronger than steel. As a result, it is expected to remain the dominant material type in the market during the forecast period.
Based on end-user type- The market is segmented into military, homeland security, and commercial. Among these end-users, the military is expected to maintain its dominance in the market during the forecast period, owing to the large demand for body armor plates during military operations, such as border conflicts and counter-terrorist missions. These plates are also used in large volumes as they are deployed across every soldier who is engaged in a military operation for protection against armor-piercing bullets and ammunition.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for body armor plates throughout the forecast period. This growth is majorly attributed to the following -
- Due to the large expenditure by the US Department of Defense (DoD) and the US Department of Homeland Security (DHS) on body armor plates, for the protection of their armed troops and homeland security personnel.
- The region is also home to market-leading companies such as Point Blank Enterprises, Inc., HESCO, Hardwire LLC, and Armor Express, which are also major contractors for the US DoD and the US DHS.
Likewise, the Asia-Pacific region is also likely to create sizeable opportunities in the coming five years, driven by the increasing military expenditure in countries such as China and India, coupled with rising terror threats and geopolitical tensions. Also, the presence of local companies, such as Beijing Tongyizhong New Material Technology Corporation and MKU LIMITED, is increasing the regional market's attractiveness. As a result, the Asia-Pacific region is expected to witness the fastest market growth during the forecast period.
Aircraft Body Armor Plates Market Drivers
Some of the key drivers listed in the report are given below.
- Rising geopolitical tensions.
- High military expenditure.
- Increasing law enforcement budgets, particularly in the USA and several European and Asian countries.
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Top 10 Companies in the Body Armor Plates Market?
The market is highly populated with the presence of several local, regional, and global players. As most of the companies are US-based, their primary focus is to tap the domestic market and gradually increase their regional penetration. These companies predominantly compete based on their product quality, weight, price, and the level of protection offered. Several companies are shifting to the usage of UHMWPE instead of ceramic or steel, due to their competitive pricing and the large demand for lightweight body armor plates, which further increases the market competition globally. The following are the major players in the body armor plates market:
- Point Blank Enterprises, Inc.
- Armor Express
- Mehler Vario System
- Tencate Advanced Armor
- Hardwire LLC
- MARS Armor
- Beijing Tongyizhong New Material Technology Corporation
- XTEK Group
- MKU LIMITED
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Body Armor Plates Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Competitive landscape analysis, Market share analysis
How complex is the business environment?
Porter's five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
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