Global Ballistic Protective Equipment Market to reach USD XX billion by 2027.Global Ballistic Protective Equipment Market to reach USD XX billion by 2027.

Global Ballistic Protective Equipment Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. Ballistic protection refers to safeguard of body and eyes from projectiles of various shapes, sizes, and impact. Such protection is generally required for soldiers, policemen and general security personnel. The market is mainly driven by increasing global defense expenditure and rising concern for security among the nations. According to STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE's 2021 report World military expenditure
was USD 1981 billion in 2020, an increase of 2.6 per cent from 2019 from USD 1931 billion. The five biggest spenders in 2020 were the United States, China, India, Russia, and the United Kingdom, which together accounted for 62 percent of world military spending. Also, increasing on defense infrastructure developments and growing threat of conflicts among the nations across the world is likely to increase the market growth during the forecast period. However, volatile costs of raw materials impede the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Ballistic Protective Equipment market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to growing technological advancements in defense sector. also, Asia-pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising military spending by China and India would create lucrative growth prospects for the Ballistic Protective Equipment market across Asia-Pacific region.

Major market player included in this report are:

BAE Systems (UK)
3M (US)
Rheinmetall AG(Germany)
Koninklijke Ten Cate bv(Netherlands)
Point Blank Enterprises, Inc (US)
Craig International Ballistics Pty Ltd (Australia)
MKU Limited (India)
Elmon (Greece)
FMS Enterprises Migun Ltd (Israel)
Permali (UK)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Source offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
Aramid

Composites

UHMWPE

Steel

Others
By Product Type:
Head protection

Soft armor

Hard armor
By End User:
Defence

Commercial

Law Enforcement & Security
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Ballistic Protective Equipment Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors