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Military Body Armor Market Overview
The global military body armour market will touch USD 2.31208 billion at a 5.40% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Government Regulations & Standards to Boost Market Growth
In order to assure compliance and provide military personnel with protection, countries and international organizations may enforce strict safety laws and standards.
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Key Players
Eminent market players profiled in the global military armour market report include Elmon (Greece), Honeywell (US), BAE Systems (UK), Coorstek Inc. (US), Du Pont (US), Point Blank Enterprises Inc (US), MKU Limited (India), M (US Safariland,LLC (US), and Survitec Group Limited (UK).
COVID-19 Analysis
Due to lockdowns, limitations, and decreased manufacturing capacity, the manufacture and distribution of the military body armour were impacted, much as many other businesses. Order fulfillment was delayed as a result, and there could be a shortfall. Military body armour is necessary; in fact, the epidemic has made it more important than ever for emergency responders and police enforcement to have personal protection. Concerns about civil disturbance and the probable necessity for military or police involvement during lockdowns & protests may have fuelled the demand for body armour.
Opportunities
Global Terrorism to offer Robust Opportunities
Effective body armour is required because of the ongoing threat of terrorism on a global scale, which makes it necessary to defend security and military personnel against unusual and asymmetrical threats.
Restraints and Challenges
Budget Constraints to act as Market Restraint
Budget constraints, restrictive for heavy weight, technology limitations, high R&D cost, and environmental concerns may act as market restraints over the forecast period.
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Market Segmentation
The global military body armour market is bifurcated based on style, product type, material, application, and level.
By level, level IV will lead the market over the forecast period.
By application, law enforcement protection will domineer the market over the forecast period.
By material, composite ceramic will spearhead the market over the forecast period.
By product type, soft armor will spur the market over the forecast period.
By style, overt will head the market over the forecast period.
Regional Analysis
North America to Head Military Body Armour Market
The area will see a significant presence from major market participants, and the government will invest heavily on military body armour, cementing its position as the market leader. During the anticipated period, the market will develop due to the widespread availability of novel technologies and expanding government military initiatives supporting body armour. The North American area is predicted to see the largest market growth due to these factors.
APAC to Have Admirable Growth in Military Body Armour Market
Due to an increase in international conflicts, terrorism-related activities, and concerns over sovereignty among nations including South Korea, China, Japan, and India, the Asia Pacific region will see the market’s fastest CAGR rise. Additionally, the growing demand for body armour and government defense purchases that are expanding exponentially year over year will fuel the expansion of the market within the area.
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