Body Armor Plates Market, By Level (Level IIA, Level II, Level IIIA, Level III, Level IV), By Application (Defense, Law enforcement protection, Civilians), By Material (Steel, UHMWPE, Aramid, Composite Ceramic, Others), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Jul 2023

Code : CMI5989

Pages :150

Formats :

Excel and PDF

Industry : Aerospace and Defense

Market Challenges And Opportunities

Global Body Armor Plates Market Drivers:

Growing demand for improving soldier safety to foster market growth

Developing countries such as India and China, are focusing on replacing legacy military equipment and increasing their defense budget, this is expected to propel the market growth. For instance, in May 2020, China hiked its defense budget to US$ 179 billion compared to that of US$ 177.6 billion in 2019. However, it has been the lowest hike in recent years due to the significant economic disruption caused by the novel coronavirus outbreak.

Continuous innovation in the market to propel market growth

Key players are introducing new product with enhanced safety is expected to drive market growth. For instance, in August 2021, KIHOMAC Armor Systems has announced the launch of their new Ceridium Body Armor Plates. KIHOMAC's Level IV Ceridium Body Armor Plate is certified by the National Institute of Justice (NIJ) and represents the highest level of quality available on the market. Lightweight and multi-hit capable, the new ceramic composite plate has a multi-curve, SAPI-cut design, and an innovative thermoplastic polyurethane spall cover.

Global Body Armor Plates Market Opportunities:

Growing awareness regarding the importance of body armor is expected to provide significant market growth opportunities. Body armor plates are an important component of personal protection equipment (PPE) for security and law enforcement personnel. They offer protection against bullets, grenades, and other explosive devices. Growing acts of violence and terrorism around the globe and concerns regarding the safety amongst armed forces are projected to boost demand for body armor plates. Furthermore, growing focus on border security by governing agencies of several countries is likely to fuel the market expansion over the forecast period.

Rise in security concerns among civil part of the population is expected to offer additional market growth opportunities. The growing security concerns in the civil part of the population is fueling the demand for body armor plates. This is mainly because of the increasing incidents of shootings in schools, which have killed many faculty members and students. Additionally, jewelry store owners and people residing in crime-prone areas are also using these plates to protect themselves from threats.

Global Body Armor Plates Market Restraints:

Strict government regulations to hamper market growth

The body armor plate market is highly governed by various regulations and acts. It is tested by three regulatory bodies, comprising United States Department of Defense (DoD), the National Institute of Justice (NIJ), and Underwriters Laboratories (UL India). Moreover, specific laws governing the possession of body armor plates, such as the Body Armor Possession Act 2015 and Body Armor Control Act, restrict their large-scale adoption in emerging countries such as India.

High cost of the materials to hinder market growth

A major challenge for body armor plates market players is the high cost of the materials used to produce them. The incorporation of advanced technologies and the use of lightweight materials increase the price of these products, which can be a barrier for customers in price-sensitive markets. This factor is expected to hinder the market growth.