London, 04 March 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Ballistic Protection Market 2015-2019, which is expected to grow at a CAGR of 5.21 percent during the forecast period of 2014-2019.
In terms of revenue, the demand for ballistic protection equipment and systems is expected to grow at a steady pace and they are primarily used by the Defense sector. The market is driven by increasing warfare because of growing tension across borders, between countries, and within countries. In addition, modernization programs being adopted by defense agencies for the protection of soldiers and law enforcement personnel are also boosting market growth.
“With increased conflicts worldwide, there is an increased demand and need for improved and lightweight PPE for soldiers, homeland security personnel, security guards, and investigators,” says Faisal Ghaus, Vice President of TechNavio.
“The efficiency and stamina of these personnel have persistently been affected by the weight of the protection armor.”
Key Market Drivers
- Increase in Warfare
- Mounting Security Threats
- Increased Demand for Cut Wounds Protection Fabric
Key Market Trends
- Usage of Improved Raw Materials
- Increased Demand for Lightweight Body Armor
- Modernization Programs
Key Market Vendors
- BAE Systems plc
- E.I. du Pont De Nemours and Co.
- Honeywell International Inc.
- Royal TenCate NV (Koninklijke Ten Cate nv)
- Teijin Aramid BV
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
