DUBLIN--(BUSINESS WIRE)--The "Global Ballistic Protection Market by Material (Metals & Alloys, Ceramics, Composites, Bulletproof Glass, Fabric), Product, Technology, Threat Level (Level II & IIA, Level III & IIIA, Level IV & Above), Platform, Application and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The ballistic protection market is projected to grow from USD 13.4 billion in 2022 to USD 16.9 billion by 2027, at a CAGR of 4.7% from 2022 to 2027
The market is driven by the need for upgrades in the battlefield scenarios. However, the market's growth is limited by the stringent standards for ballistic protection products.
In 2020, the global military expenditure was worth USD 1,981 billion, the highest level since 1988 as per SIPRI. The global military expenditure in 2020 was 2.6% higher in real terms than in 2019 and 9.3% higher than in 2011.
This increase was largely due to the fact that most countries in the world experienced severe economic downturns in 2020 due to the COVID-19 pandemic, while military expenditure continued to rise due to growing tension and disputes on several international borders around the world.
By speed, high speed segment is expected to grow at the highest CAGR
Unmanned vehicles that are manufactured for use as targets and can operate beyond a speed of 250 m/s fall under the category of high-speed target drones. This segment accounted for a 46.5% share of the target drones market in 2022.
With the growing emphasis on replicating realistic threats in military training, high-speed target drones are expected to witness prominent demand during the forecast period. However, due to limited defense budget allocation in some emerging economies, these drones are not always feasible.
The US, Russia, and China procure high-speed target drones. QinetiQ Group PLC (UK), Northrop Grumman (US), Kratos Defense and Security Solutions (US), and Boeing (US) are key manufacturers of high-speed target drones.
By payload capacity, medium (20 kg to 40 kg) segment is expected to lead the market in terms of value
On the basis of payload capacity, the target drone market has been segmented into high (>40 kg), medium (20 kg to 40 kg), and low (<20 kg). The use of target drones in applications such as target & decoy, reconnaissance, and combat training requires additional components to make them more effective in operations.
These target drones are equipped with passive & active radar augmentation, electronic payloads, GPS navigation, and several types of cameras. With the increasing efforts to make military training more realistic, these payloads are used to help drones perform functions in the above-mentioned applications.
QinetiQ is one such major company involved in the production of target drones capable of carrying medium payloads.
Asia-Pacific held the largest market share in terms of value
Asia-Pacific is estimated to account for 33.2% of the market in 2022. The market in North America is projected to grow from USD 4,467 million in 2022 to USD 5,935 million by 2027, at a CAGR of 5.8% from 2022 to 2027.
Leading players
The major players include BAE Systems (UK), Avon Protection (US), Rheinmetall AG (US), Tencate Advanced Armor (Netherlands), Point Blank Enterprises (US) and SAAB AB (Sweden).
Premium Insights
- Increasing Geopolitical Tensions in Emerging Economies to Drive Ballistic Protection Market
- Composites Segment to Account for Largest Market Size from 2022 to 2027
- Land to be Largest Platform Segment During Forecast Period
- Europe to Hold Dominant Position in 2022
- Military Application to Dominate During Forecast Period
- Threat Level IV & Above to Hold Largest Market Share
- South Korea to Register Highest CAGR in Ballistic Protection Market During Forecast Period
Market Dynamics
Drivers
- Rising Political Unrest in Emerging Economies
- Need for Upgrades in Battlefield Scenarios
- Development of Lightweight, Comfortable, and High-Strength Materials
- Demand for Protection by VVIPs
Restraints
- Inability to Provide Complete Protection
- Stringent Standards for Ballistic Composite Products
Opportunities
- Rising Demand for Multipurpose Equipment
- Increasing Demand from Asia-Pacific
- Advancements in Armor Composite Materials
Challenges
- High Production Cost of Armor Materials
- Demand for Increased Comfort and Functionality
Ballistic Protection Market Ecosystem
- Prominent Companies
- Start-Ups and Small Enterprises
- End-users
Technology Analysis
- Composite Textiles in High-Performance Apparel
Use Case Analysis
- Use Case: Enhanced Comfort During Combat
Industry Trends
- Advanced Materials for Ballistic Protection
- Electronic Textiles
- Electric Armor
- Technology Trends
- Double-Sided Combat Uniform Fabric
- Defcon Armor Technology
- Modular Ballistic Protection Systems
- Advanced Ceramic Ballistic Armor
- Dyneema Force Multiplier Technology
- Improved Outer Tactical Vests
- Liquid Armor
- Smart Fluid
- Reactive Armor Technology
- Sensor Technology
- Next-Gen Suits
Ballistic Protection Market, by Platform
Land
- Combat Armored Vehicles
- Main Battle Tanks
- Increasing Offensive Cross-Country Operations
- Infantry Fighting Vehicles
- Procurement by Emerging Economies
- Armored Personnel Carriers
- Increasing Demand to Counter Terrorist Attacks and Asymmetric Warfare
- Armored Amphibious Vehicles
- Used by Military Forces for Amphibious Operations
- Mine-Resistant Ambush Protected
- Increasing Use for Protection from Ieds and Mines
- Light Armored Vehicles
- Uses for Border Patrol and Isr
- Self-Propelled Howitzers
- Easy Maneuverability Boosts Demand
- Air Defense Vehicles
- Adoption of Vehicle-Mounted Anti-Aircraft Guns
- Armored Mortar Carriers
- High Demand for Integrated Armored Vehicles with Dedicated Mortar Storage Compartment
- Combat Support Vehicles
- Armored Supply Trucks
- Increasing Use for Fuel and Ammunition Supply to Troops
- Armored Fuel Trucks
- Used to Transport Fuel to Forward Arming and Refueling Points
- Armored Ammunition Replenishment Vehicles
- Used at Forward Bases During Warfare Operations
- Armored Ambulances
- Vital to Transport Injured Personnel to Medical Facilities
- Armored Command and Control Vehicles
- Increasing Adoption for Mobile Armored Operations
- Repair and Recovery Vehicles
- High Demand for Towing or Repair of Combat Vehicles
- Unmanned Armored Ground Vehicles
- Increasing Research & Development on UGVs for Warfare
- Soldiers & Security Personnel
- Wide-Scale Use of Personal Protective Equipment
- Base Stations
- Stations Used for Shelter and Storage by Military
Airborne
- Fixed-Wing Aircraft
- Upcoming Defense Programs to Drive Segment
- Fighter Aircraft
- Transport Aircraft
- Reconnaissance & Surveillance Aircraft
Helicopters
- Provide Accessibility for Special Missions
- Attack & Reconnaissance Helicopters
- Special Mission Helicopters
- Maritime Helicopters
- Transport Helicopters
- Unmanned Aerial Vehicles (UAV): High Number of Isr Missions Drives Demand
Marine
- Destroyers: Fast, Long-Lasting, Maneuverable Ships
- Frigates: Used to Protect Other Warships and Merchant Ships
- Corvettes: Smallest Vessel Class Among Warships
- Offshore Support Vessels (Osvs): Small Patrol Vessels Used for Coastal Defense
- Aircraft Carriers: Possibility of Using Hybrid Propulsion for Aircraft Carriers
- Submarines: US, France, and India - Currently Using or Developing Electric Propulsion Systems
- Unmanned Surface Vehicles: Used in Military Applications for Seaborne Targets
Company Profiles
- Bae Systems
- Avon Protection
- Rheinmetall AG
- Tencate Advanced Armor
- Fms Enterprises Migun Ltd.
- Point Blank Enterprises
- Seyntex
- Ada (Australian Defence Apparel)
- Survitec Group Limited
- Armorworks
- Revision Military
- Armorsource LLC.
- Southern States LLC.
- Craig International Ballistics Pty Ltd.
- Paul Boye Technologies
- Roketsan
- Saab Ab
- Mku Limited
- Pacific Safety Products
- Elmon
- Np Aerospace
- Plasan
- Armor Express
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