Ballistic Protection Market Size (2024 - 2029)

Ballistic Protection Market Analysis

The Ballistic Protection Market size is estimated at USD 14.67 billion in 2024, and is expected to reach USD 19.10 billion by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).

• The COVID-19 pandemic negatively impacted the ballistic protection market. The onset of the pandemic led various governments around the world to impose regulations and lockdowns to curb the spread of the pandemic. This led to a decline in the free flow of trade as well as delays in terms of raw materials being received by manufacturers of ballistic protection systems which led to delays in terms of production and deliveries of ballistic protection systems. Moreover, the onset of the pandemic also led to layoffs by various companies, which led to a decline in the production of ballistic systems. On the other hand, the decline of COVID-19 severity led to various countries around the world opening up their restrictions and barriers to trade, which has led to gradual growth in effective trade between countries.
• The ongoing political turmoil across several regions, coupled with the widening geopolitical rift leading to an accumulation of weapons and ammunition by nations to safeguard against threats is also driving the demand for ballistic protection equipment. 
• However, factors such as the inaccuracy of protection level, the high production cost of armor materials, and the occurrence of mechanical failure restrain the growth of the market. 
• Nevertheless, factors such as growth in demand for multipurpose ballistic protection equipment and a rise in demand for lightweight body armor create lucrative opportunities for key players in the ballistic protection market.

Ballistic Protection Industry Segmentation

Ballistic protection equipment safeguards the human body and vehicles against bullets and missiles of various sizes, shapes, and impact velocities. This protection is usually required for general security personnel, soldiers, policemen, marine ships, military, and airborne vehicles. Many types of equipment of ballistic protection equipment are used for penetrating and non-penetrating impacts. Moreover, there are various levels of ballistic protection available in the market, with level 7 being considered the highest level in terms of ballistic protection.

The ballistic protection market has been segmented by product type, application type, technology type, and geography. By product type, the market has been segmented into personal protection equipment and vehicle protection equipment. By application type, the market has been segmented into military, airborne, and marine. By technology type, the market has been segmented into soft armor and hard armor. The report also covers the market sizes and forecasts for the ballistic protection market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).