Global Bulletproof Vests Market Overview:
Bulletproof vests are used as body armor by military personnel, law enforcement officers/police officers, security guards, VIPs, and others. The bulletproof vests are capable of absorbing and dispelling a large amount of energy from shotguns, small caliber guns, or projectiles, which mitigates the risk of getting heavily injured. It is made with different layers of strong fibers that bend bullets making it lessen the impact. The bulletproof vests utilize the ballistic panels in the front and back with NIJ level II, level IIA, or level IIIA protection.
Growth Drivers
- Growing Terrorism and Military Activities
- Need for the Higher Protection Level and Heavier Armor to Avoid the Impact of Bullets Energy
Roadblocks
- Regulatory Standards and Guidelines Involved with the Production and Sale of Bulletproof Vests
Opportunities
- A Sharp Rise in the Defense Budget of the US, Creating Increased Demand for Bulletproof Vests in the Region
Challenges
- Threat of Many Players in the Bulletproof Vests Market
Competitive Landscape:
Some of the key players profiled in the report are Under Armour, Inc (United States), Honeywell International Inc. (United States), Armored Republic, LLC (United States), T.G. Faust Inc (United States), PPSS Group (United Kingdom), EnGarde Body Armor (Netherlands), Sellmark Corporation (United States), Byrna Technologies Inc (United States), Black Hawk (Sikorsky) (United States), Survival Armor (United States), Bullet Blocker (United States), Point Blank Body Armor (PBBA) (United States), U.S. Armor Corporation (United States), DSM (Netherlands), Canadian Armour (CANARMOR) (Canada) and Imperial Armour (South Africa). Additionally, following companies can also be profiled that are part of our coverage like VestGuard (United Kingdom), Teijin Aramid (Netherland) and MKU Limited (India). Considering Market by Sales Channel, the sub-segment i.e. Online will boost the Bulletproof Vests market. Considering Market by Material, the sub-segment i.e. Nylon will boost the Bulletproof Vests market. Considering Market by End User, the sub-segment i.e. Law Enforcement Officers / Police Officers will boost the Bulletproof Vests market.
Latest Market Insights:
On 18th January 2021, Sellmark Corporation is proud to announce the acquisition of BulletSafe. BulletSafe provides state-of-the-art body armor to civilians and law enforcement alike. In keeping with Sellmark’s high standards, BulletSafe manufactures plate carriers, shields, face/neck protectors, gas masks, and more with premium fit, form, and function, as well as the peace-of-mind reliability consumers, have come to expect from Sellmark brands.
On 19th August 2021, Byrna Technologies Inc. announced that it has acquired the assets of Ballistipax, a developer of single-handed rapidly deployable bulletproof backpacks. As part of the transaction, Byrna has acquired several Ballistipax trademarks, two patents, finished goods, and raw materials inventory, as well as other assets. Byrna funded the acquisition with cash on hand.
"Under federal law, a bulletproof vest is considered "body armor," which is regulated by statute. That law forbids anyone convicted of a violent felony to own or possess a vest unless the person wearing the vest is an employee who is doing so in order to perform a lawful business activity and who has obtained prior written certification from the employer. A violation incurs a maximum of three years in prison. And using a vest during the commission of a federal crime of violence or a federal drug-trafficking crime will result in an enhanced sentence."
What Can be Explored with the Bulletproof Vests Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Bulletproof Vests Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Bulletproof Vests
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bulletproof Vests market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Bulletproof Vests market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Bulletproof Vests Manufacturers, Bulletproof Vests International Traders, Bulletproof Vests Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.