5 Major Insights Into The Body Armor Plates Market Report 2023
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 Business Research Company’s Body Armor Plates Global Market Report 2023 offers crucial insights into the body armor plates market help businesses analyse and build stronger strategies.
The global body armor plates market is on a trajectory of growth, projected to rise from $1.86 billion in 2022 to $1.98 billion in 2023, demonstrating a robust Compound Annual Growth Rate (CAGR) of 6.22%. Looking ahead, the market is anticipated to reach $2.43 billion in 2027, marking a commendable CAGR of 5.33%. Let’s delve into the factors steering this growth and the pivotal role of body armor plates in a world grappling with rising terrorism.
Terrorism Surge: A Catalyst for Growth
- Defining the Trend: The surge in terrorism acts as a driving force propelling the growth of the body armor plates market.
- Understanding Terrorism: Terrorism denotes acts of violence that endanger others, often showing blatant disregard for the harm inflicted. Body armor plates play a crucial role in providing protection during terrorist attacks.
- Statistical Insight: According to the Center for Strategic and International Studies (CSIS), in the United States, terrorist acts and conspiracies witnessed a 47% increase in 2020 and a further 53% in 2021. Notably, 43% of attacks in 2021 targeted government entities, armed forces, and law enforcement.
Industry Giants: Key Players Shaping the Landscape
- Leading Companies: Notable players in the body armor plates market include Armored Republic LLC, BAE Systems, Ceradyne Inc., and Safariland LLC, among others.
- Critical Role: These companies play a crucial role in providing advanced protection solutions against the rising threat of terrorism.
Innovation Spotlight: Koninklijke Ten Cate BV
- January 2023 Milestone: Koninklijke Ten Cate BV, a US-based manufacturer of military armor products, introduced Cratus Wave, a groundbreaking level 3 armor ballistic plate.
- Trauma Reduction Technology: A distinctive feature of Cratus Wave is the application of trauma reduction technology. It strategically redistributes pressure waves between the wearer and the rigid body armor plates, mitigating back face deformation.
- Blunt Trauma Reduction: The technology lessens blunt physiological stress to soldiers by dispersing energy rapidly, reducing the force resulting in blunt trauma.
Market Dynamics: Segmentation Snapshot
- Material Focus:
- Composite Ceramic
- Other Materials
- Level Differentiation:
- Level II
- Level IIA
- Level III
- Level IIIA
- Level IV
- Other Levels
- Application Landscape:
- Law Enforcement Protection
- Other Applications
Regional Influence: North America Takes the Lead
- Leadership Status: In 2022, North America emerged as the largest region in the global body armor plates market, signifying the region’s prominence in steering industry growth.
- Future Growth Projection: Asia-Pacific is poised to be the fastest-growing region during the forecast period, showcasing the global nature of the demand for advanced protection solutions.
Get A Free Sample On The Global Body Armor Plates Market Report:
Read The Full Body Armor Plates Market Report Here:
The Body Armor Plates Global Market Report 2023 provides a comprehensive outlook of the body armor plates market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The body armor plates market forecast offers a thorough analysis on body armor plates market size, body armor plates market share, prominent players and their strategies.
The Table Of Content For The Body Armor Plates Market Include:
1. Body Armor Plates Market Executive Summary
2. Body Armor Plates Market Segments
3. Body Armor Plates Market Size And Body Armor Plates Market Growth Rate
4. Key Body Armor Plates Market Trends
5. Major Body Armor Plates Market Drivers
25. Key Mergers And Acquisitions In The Body Armor Plates Market
26. Top Body Armor Plates Companies
27. Body Armor Plates Market Opportunities And Strategies
28. Body Armor Plates Market, Conclusions And Recommendations
Explore Similar Reports From The Business Research Company:
Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Follow us on:
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: