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Analyzing the Growth Rate of the Bulletproof Vest Market: What’s the Expected CAGR for the Next Decade?

In recent years, the bulletproof vest market has seen considerable growth. The market size is expected to increase from $1.75 billion in 2024 to $1.91 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. The surge in market size during the historical period is credited to factors such as an increase in crime rates, geopolitical conflicts, modernization of the military, government rules and mandates, as well as population growth.

The market for bulletproof vests is predicted to experience a significant expansion in the coming years. The projected value is $2.65 billion by 2029, with a compound annual growth rate (CAGR) of 8.5%. The escalation during the forecast period can be credited to the growing apprehensions about individual safety and protection, heightened defense expenditure, burgeoning civilian markets, and increased urbanization. The forecast period will see main trends like the incorporation of smart armor, usage of sustainable and environmentally-friendly materials, lightweight and flexible style, multi-threat safeguards, and body-mounted cameras.

Which Major Market Drivers Are Expected to Boost the bulletproof vest Market’s Growth Potential?

An increase in military spending is anticipated to boost the bulletproof vest market’s expansion. This expenditure pertains to the financial capital assigned by governments for their military and defense operations. Factors such as amplified security risks, geopolitical unrest, or the ambition to bolster national defense prowess often trigger an uptick in military expenditure. Bulletproof vests significantly contribute to military expenditure as they enhance the defense mechanisms for soldiers, mitigate casualties, and heighten the efficacy of the overall mission. High-quality body armor investments help militaries equip their troops better to withstand threats, thereby reducing healthcare expenses and augmenting operational preparedness. For example, according to the Stockholm International Peace Research Institute, a US-based entity, the global military burden—measured as military spending as a ratio of worldwide GDP—escalated to 2.3 percent in 2023, in April 2024. Therefore, the bulletproof vest market is propelled by escalating military expenditure.

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What Are the Leading Organizations Impacting the Bulletproof Vest Market’s Growth?

Major companies operating in the bulletproof vest market include:

• Wenzhou Start Co Ltd

• VestGuard UK Limited

• U.S. Armor Corporation

• Point Blank Enterprises Inc.

• MKU Limited

What Are the Most Prominent Trends Driving Change in the Bulletproof Vest Market?

The emergence of innovative product creation is a notable trend taking hold in the bulletproof vest market. Bulletproof vest manufacturers are introducing new products and entering into diverse alliances to enhance the provided services. The Indian organization, DRDO (Defense Research and Development Organization), devised a lightweight bulletproof jacket, tipping the scale at approximately 9kgs, built to satisfy the quality specifications for military personnel. The home-grown technology implemented in this jacket has effectively reduced its weight from 10.4 kg to 9 kg.

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What Are the Core Segments of the Bulletproof Vest Market, and How Do They Contribute to Growth?

The bulletproof vest market covered in this report is segmented –

1) By Type: Soft Vest, Hard Vest

2) By Material: Kevlar, Ultra High Molecular Weight Polyethylene, Graphene

3) By Application: Covert, Overt

4) By End User: Military, Law Enforcement

Subsegments:

1) By Soft Vest: Level IIA, Level II, Level IIIA

2) By Hard Vest: Level III, Level IV

What Regions Are Leading the Charge in the Bulletproof Vest Market?

Asia-Pacific was the largest region in the bulletproof vest market in 2024. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the bulletprrof vest market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

How Is the Bulletproof Vest Market Categorized and Defined in the Industry?

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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