Ballistic protection entails shielding the body and vehicles from projectiles of varying forms, sizes, and impact velocities. Generally, security personnel, soldiers, and policemen require ballistic protection. These items are made of materials such as metals and alloys, ceramics, composites, bulletproof glass, fabric, and others.
Market Drivers and Forecast
According to OMR Research, the global ballistic protection equipment market is projected to grow at a CAGR of 5.2% during the forecast period (2023–2029). The key factor contributing to the growth of the ballistic protection equipment market is the increasing number of armies and soldiers in all regions. According to the World Bank data, in 2019, there were a total of 27.6 million army personnel worldwide. With the threat of stronger weaponry, more powerful ammunition, and an increase in the number of conflicts, armor materials with higher performance are constantly in high demand for adequate protection. As a result, substantial research on new lightweight ballistic materials for end-uses such as helmets, body armor, ballistic vests, and combat vehicles is being conducted.
Another driver of the market is growing government investments and initiatives to protect military personnel. For instance, in April 2022, the Stockholm International Peace Research Institute (SIPRI) published a report. According to the report, in 2021, total worldwide military spending grew by 0.7% in real terms to $2,113 billion. The five greatest spenders in 2021 were the US, China, India, the UK, and Russia, accounting for 62% of total expenditure. Moreover, in December 2022, the Defence Acquisition Council (DAC) of India launched 24 new military purchase programs totaling INR 84,328 crore (approximately $10.1 billion). The acquisition of key warfighting platforms such as Next Generation Offshore Patrol Vessels for the Coast Guard, Mounted Gun Systems and Light Tanks for the Army, the Futuristic Infantry Combat Vehicle (FICV), and a new range of missile systems for the IAF and Navy are among the high-profile programs.
Besides, for personal safety reasons, prison guards, money transporters, celebrities, businesspersons, and other well-known personnel, such as those in politics or VIP security staff, hire bodyguards, keep ballistic protection equipment, or equip their vehicles with protection equipment, which is also increasing the market’s growth.
Recent Developments
The key companies in the ballistic protection equipment market include ArmorSource LLC, Avon Protection plc, BAE Systems plc, Craig International Ballistics, DuPont de Nemours, Inc., Gentex Corporation, Honeywell International Inc., MKU Ltd., Morgan Advanced Materials, Point Blank Enterprises, Inc., Rheinmetall AG, Saab AB, and others. These companies are contributing to the market’s growth through various mergers, collaborations, new product launches, and other activities. Some of the recent developments in the market include-
• In February 2023, XTEK Limited, an Australian defense company, secured two Department of Defence funds totaling $800,000 in order to quadruple existing helmet production and accelerate new ballistic product R&D. The funds, totaling $658,209.20 and $164,268.50, were made possible by the Sovereign Industrial Capability Priority and Defence Global Competitiveness grant programs, respectively.
• In February 2023, Avon Protection PLC, a Wiltshire, England-based personal protection firm that manufactures defense equipment for military, police, industrial, and fire service professionals, received a $6.7 million battle helmet order from the US Defense Logistics Agency, part of the US Department of Defense. This is part of the SPE1C1-22-D-1516 contract for second-generation advanced combat helmets, which was earlier granted in February 2022.
• In June 2022, Hobson Industries Armouring, a division of Hobson Industries, launched THEMIS, a lightweight protection system designed specifically for use on 4×4 vehicles. The THEMIS has a ballistic glass system and a blast protection system. Additionally, THEMIS has been tested against the M80 Ball, 7.62 x 51 L40A1, 62 x 39 API, M193, SS109, M855, 7.62 x 54R Iron Core, and a variety of .308 and .223 rounds. None of them were able to penetrate the THEMIS armor system.