According to Stratistics MRC, the Global Body Armor Plates Market is accounted for $2.03 billion in 2023 and is expected to reach $3.37 billion by 2030 growing at a CAGR of 7.50% during the forecast period.
In order to provide effective defense against projectiles and shrapnel, body armor plates are an essential part of contemporary ballistic protection systems. Usually made of robust materials like steel, ceramic, or composites, these plates are fitted into vests or carriers that are specifically made for use by law enforcement, military personnel, and civilians working in dangerous jobs. Body armor plates are designed to deflect projectiles and bullets, among other ballistic threats, so that the wearer suffers the least amount of damage possible.
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The Asia-Pacific (APAC) region is anticipated to have the highest CAGR in the body armor plate market. Increasing military spending, growing territorial disputes, and growing worries about threats to internal security are some of the factors contributing to this growth. In response to changing security challenges, nations in the Asia-Pacific area are modernizing their armed forces, making investments in cutting-edge protective equipment, and improving their law enforcement capacities. Furthermore, the region’s market is expanding due to the region’s fast urbanization, economic growth, and rising public awareness of personal safety.
Some of the key players in Body Armor Plates market include Kejo Limited Company, BAE Systems, Hellweg International, Craig International Ballistics Pty Ltd, Point Blank Enterprises, Inc, Aegis Engineering Ltd, Safariland, LLC, Ballistic Body Armour Pty, Pacific Safety Products, Armored Republic, LLC and Ceradyne Inc. (3M).
Key Developments:
In April 2024, BAE Systems was awarded a $79 million contract from the U.S. Marine Corps to build and deliver production representative test vehicles for the Amphibious Combat Vehicle Recovery variant later this year. The ACV-R will provide direct field support, maintenance and recovery to the ACV family of vehicles. One of the most challenging things that can happen on the battlefield is for a vehicle to breakdown or need to be recovered, said Garrett Lacaillade, vice president of amphibious programs at BAE Systems.
In January 2024, Point Blank Enterprises (PBE) and DuPont, a global leader in protective solutions for military and law enforcement professionals today announced an exclusive agreement to offer body armor made with Kevlar® EXO™ aramid fiber for North America State and Local Law Enforcement departments.
In May 2020, Gold Coast Company Craig International Ballistics has won a contract to deliver Australian-manufactured soft body armour to the Australian Defence Force (ADF). The announcement by Minister for Defence Industry Melissa Price said the initial $1 million contract will see the ADF receive 750 soft armour inserts to replace in-service armour.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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