Worldwide Ballistic Protection Market to See Healthy Growth to 2021, Forecasts Stratview Research in Its Report Available at MarketPublishers.com
06 Jan 2017 • by Natalie Aster
LONDON – The worldwide ballistic protection market creates healthy growth opportunity and is poised to see a CAGR of 4.7% during 2016-2021. The key factors that are contributing to the market’s growth comprise increasing budget spending on fortifying the defense industry, surging conflicts between nations, and growing terrorist and violent extremist activities, among others.
Soft armor is likely to witness the most rapid growth during the next 5 years, fuelled by rising demand from defense and law-enforcement agencies.
By application, the defense sector is set to keep on dominating the ballistic protection market in the offing propelled by governments’ focus on strengthening their defense sector due to an upsurge in conflicts between nations and an increase in terror attacks.
North America is projected to remain the largest market for ballistic protection products in the years to come, driven largely by high defense expenditures by the US government, the involvement of US armed forces in Syria and Iraq, and growing concern over terrorist attacks. APAC is anticipated to demonstrate the fastest growth in the forthcoming years, driven by mainly China and India.
In-demand research report “Global Ballistic Protection Market” developed by Stratview Research offers an up-close look at the market on a global level. The study segments the market based on product type, material type, application, and region.
The study examines the market structure, shedding light on the industry life cycle, supply chain analysis; presents a detailed market environment analysis covering key growth drivers and limiters, a SWOT analysis, and Porter’s five forces analysis; identifies major trends in the market and across each of its segments. The report canvasses the competitive landscape and dynamics casting light on market shares, products, product launches, and more. It detects the attractive market segments and reviews the associated growth opportunities; reviews the emerging trends in the industry; discusses strategic growth opportunities for the market players; and covers key success factors. Detailed forecasts of the market to 2021 are provided, too.
More insightful reports by Stratview Research can be found at its page.