BODY ARMOR PLATES MARKET ANALYSIS

Body Armor Plates MarketSize and Trends

The global body armor plates market size was valued at US$ 1.93 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. The rising need for military personnel to be equipped with advanced protective shields as an antidote against terrorism and militant violence worldwide is driving growth of the body armor plates market. In addition, various governments have increased their budgets to raise their country's military safety and combat potential threats which is again expected to foster market growth. This massive investment by the defense industry has also bolstered demand for ballistic protection gear. Moreover, the development of new and advanced armor plates made with cutting-edge materials is another factor that has further boosted the overall market growth.

Figure 1. Global Body Armor Plates Market, By Region, 2023

Global Body Armor Plates Market Trends:

Level III body armor plates are gaining popularity

Level III body armor plates are excellent choice of product for most civilian law enforcement and prepared citizens as they provide reliable protection from pistol threats. They're also a reasonable choice for military personnel as they can easily protect against a range of rifle threats and are designed to be worn over uniform. Therefore, growing popularity of level III body armor plates is uplifting market growth.

Growing demand advanced military equipment

Body armor plates helps in procuring advanced military equipment to safeguard soldiers against attacks by militants and terrorists. In addition, many governments are emphasizing on self-reliance and indigenization of their military industry. This trend is expected to continue in near future as well.