The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growth in military expenditure of developed and emerging countries are expected to drive innovation in bulletproof vest manufacturing, thus driving the market during the forecast period.

The global bulletproof vest market is expected to grow from $1.5 billion in 2022 to $1.65 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The bulletproof vest market size is expected to grow to $2.27 billion in 2027 at a CAGR of 8.3%.

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Global Bulletproof Vest Market Segments Include:

• By Type: Soft Vest, Hard Vest
• By Material: Kelvar, Ultra High Molecular Weight Polyethylene, Graphene
• By End User: Military, Law Enforcement
• By Application: Covert, Overt
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global bulletproof vest market in 2021.

Major Market Players in the bulletproof vest market include Wenzhou Start Co Ltd., VestGuard UK, U.S. Armor Corporation, Point blank enterprise, MKU Limited, MARS Armor, Infidel Body Armor, Honeywell International.

Innovative product development is a key trend gaining popularity in the bulletproof vest market. Companies manufacturing bulletproof vests are developing new products and undergoing various collaborations to improve the services that are provided. India-based DRDO (Defense Research and Development Organization) developed a lightweight bulletproof jacket, which would weigh around 9kgs, and meet the qualitative requirements for army people. The indigenous technology that is used in this jacket would reduce its weight from 10.4 kg to 9 kg.

The Bulletproof Vest Global Market Report 2023  provides a bulletproof vest market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The bulletproof vest market forecast analyzes bulletproof vest market size, bulletproof vest market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A bulletproof vest refers to a set of protective coverings worn by individuals to protect the torso against bullets, knives, and bombs. Based on proof, vests absorb the impact and reduce or completely stop the penetration of the attack, and any fragments from various explosions. These are generally made by layering woven or laminated fibers, with metal ballistic plates or ceramic inserted.

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