World Ballistic Protection Market to Post 3.5% CAGR to 2022, States Lucintel in Its In-demand Study Published at MarketPublishers.com03 May 2017 • by Natalie Aster
LONDON – The global ballistic protection market has a bright future, with lucrative opportunities lying in the defense, commercial, and homeland security marketplace. The worldwide market for ballistic protection equipment is expected to reach an estimated USD 9 billion by 2022 and is forecast to register a 3.5% CAGR through to 2022. The key factors stimulating the growth of the market include, among others, increasing military budget in developing economies and surging terror-related activities resulting in the upsurge in the demand in the market.
Based on equipment type, the vehicle armour segment is poised to keep on dominating the market in terms of value owing to a hike in the demand for vehicle armour from developing countries. The body armour segment is likely to witness above-average growth in the offing.
Within the market, the defense segment is set to continue to take the lead. An increase in defense budgets in Asia and equipment modernisation in the North America region act as the main drivers spurring the segment’s growth in the years to come.
In-demand research report “Growth Opportunities in the Global Ballistic Protection Market” elaborated by Lucintel provides valuable and comprehensive information, insights, and tools required to detect novel growth opportunities and carry on businesses successfully in the worldwide ballistic protection market.
The report presents granular market segmentation on the basis of type and application, as well as by geography; casts light on the prevalent market trends; provides market size estimates and forecasts of the total market and its segments; explores the market dynamics covering drivers and challenges. The study includes a competitor analysis and an assessment of the cost structure; pinpoints key growth opportunities and emerging trends in the market space; provides detailed profiles of the top 5 market participants. Furthermore, the study provides detailed forecasts to 2022 of the ballistic protection market development at a global level and by regions.
More in-demand studies by the publisher can be found at Lucintel page.