The ballistic protection industry has garnered $12,478.08 million revenue, and it is projected to generate $19,378.54 million revenue in 2030, advancing at a rate of 5.01%. It is led by the surging use of ballistic protective materials in law and military enforcement organizations across the world. It is ascribed to protecting law enforcement personnel, military personnel, and vehicles from projectiles, mortars, mines, explosives, falling glass, and other dangerous materials.
In addition, these protective materials function in a different way, usually when they are struck by bullets or explosives.
Moreover, the rise in the homeland security forces, such as police, VIP security staff, and first responders, along with the rise in the defense budget boosts the industry growth. Also, governments focus on proliferating and protecting military capabilities due to increasing cross-border disputes.
North America captures the largest industry share of the industry. It is led by rising demand for lightweight armor, surging R&D expenditure, technical advancements, and the presence of key players. The major industry players offer ballistic protection solutions, which include helmets, vehicle armor, shields, and uniforms.
Moreover, celebrities, political leaders, and other famous individuals select private security services, led by increasing security threats, growing terrorist attacks, and cross-border conflicts leading to the increasing requirement for ballistic protection in the Canada and U.S.
On the other hand, the APAC industry is projected to experience rapid growth in the coming years. It is ascribed to increasing defense expenditure in countries such as China, India, Australia, South Korea, and Japan, including the growing economy of the region.
In addition, governments of the above-mentioned countries focus on partnering with the contractors and providing them assistance in the procurement process with financial support and infrastructure.
Therefore, the rising security concerns and growing demand for improving army survivability boost the demand for ballistic protection.
