Albany, New York, 10 May, 2017: The global body armor market for military applications is expected to witness significant growth during the forecast period. One of the reasons for market growth is the increasing safety concerns for armed forces and the global presence of vendors offering a wide range of body armors. The market is also driven by increasing security threats across regions and advances in explosive devices, which has led to several deaths. Also, the increase in the defense expenditure will drive the growth of the body armor market for military applications.
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Several other factors that impact the growth of the market include growing violence and increase in the number of terrorist attacks. Also, modern warfare has become increasingly asymmetric, which includes counter-insurgency and counter-terrorism operations.
Technavios analysts forecast the “global body armor market” for military applications to grow at a CAGR of 6.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global body armor market for military applications for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of body armors at the manufacturer level.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio''s report, Global Body Armor Market for Military Applications 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
MKU
3M
BAE Systems
Ballistic Body Armor
Other prominent vendors
AR500 ARMOR
Combat Clothing Australia
Point Blank Enterprises
Craig International Ballistics
Kejo Limited Company
Pacific Safety Products
Hardshell
Rabintex
Market driver
Increase in defense expenses.
For a full, detailed list, view our report
Market challenge
Difficulty in optimizing weight of body armor.
For a full, detailed list, view our report
Market trend
Ergonomically designed body armor.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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