New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The global bulletproof jackets market net worth is estimated to be around US$ 1.27 Bn in 2022 and is anticipated to expand at a CAGR of 5.5% from 2022 to 2032. A report on the market for bulletproof jackets examines the expansion, which is now being fuelled by the popularity of flexible and lighter jackets than the classic ones which will reach the overall valuation of the market up to US$ 2.17 Bn by the year 2032.
The growing awareness of accident prevention and workplace safety is another factor driving the sales of bulletproof jackets globally. Safety worries, such as those pertaining to public institutions, marketplaces, and highways, are escalating swiftly as threats rise. Another reason driving the demand for bulletproof jackets is the increasing amount of money spent by governments on the military.
Due to the adoption of cutting-edge technology and rising levels of spending for the expansion of the military and defense industry in the area, the United States is predicted to continue its dominance in the global bulletproof jackets market.
Bulletproof jackets market's main growth driver is anticipated to be the increase in military spending by developed and developing nations alike.
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Key Takeaways from the Bulletproof Jackets Market Study
- The soft jacket product type segment, which ranked first in terms of product type and represented 55% of global sales, is anticipated to hold onto that position throughout the course of the forecasted years.
- According to sales data from prior years, level II protection level bulletproof jackets are expected to account for over 25% of global sales until the year 2032.
- According to the report, the defense end-user sector accounts for more than 60% of the global sales of bulletproof jackets made by the major market participants each year.
- Among the broad geographical regions, North America is the leading market for this product with the United States being the major contributor to its position.
- Europe accounted for almost 15% of the global revenue share for bulletproof jackets in recent years, and it is anticipated that this trend may continue to drive the regional players in Germany, the United Kingdom, France, and other nations.
However, bulletproof jacket manufacturers also find it difficult to comply with the product standards formulated by regulatory bodies. According to Army regulations, the bulletproof vest must be able to protect a soldier from 7.62 mm ammunition and heavy steel core bullets fired from a distance of 10 meters.
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Competitive Landscape for the Bulletproof Jackets Market
Point Blank Solutions, Inc., Armor Express, DuPont, U.S. ARMOR CORPORATION, EnGarde, MKU LIMITED, ARGUN s.r.o., Infidel Body Armor, Seyntex N.V., MARS Armor, VestGuard UK Ltd, BulletSafe Bulletproof Vests, COMPASS INTERNATIONAL CORP. LTD, and Canadian Armour Ltd. are some of the major players in the global bulletproof jackets market.
Recent developments in the Bulletproof Jackets Market industry include
- The majority of the issues with conventional Kevlar bullet-resistant jackets are eliminated by recently created non-Newtonian fluid bulletproof jackets. A recently developed bulletproof garment can adjust to variations in temperatures and pressures. These new variants are also lightweight and more adaptive than conventional ones so are poised to create a new trend in the mark
- The ORIGIN modular tactical vest platform, which employs novel construction techniques, substances for a ballistic design, and functionality of military vests centered on human factors, was released in January 2022 by India-based Point Blank Enterprises Inc.
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