Report: Global body armour and personal protection industry to record stable growth
The global body armour and personal protection market is anticipated to grow to $2.9bn in value by 2026, at a compound annual growth rate (CAGR) of 4.61%, says a report by Strategic Defence Intelligence (SDI).
Titled 'The Global Body Armor and Personal Protection Market 2016-2026', the report states the market value in 2016 to be $1.9bn.
Body armour and personal protection systems are mainly categorised into segments, including soft and hard armour, protective headgear and clothing, and boots.
The soft armour segment is expected to attract the largest share of spending, accounting for 35% of the total market share, while the hard armour and protective headgear segments are anticipated to earn 23% and 19% share of the global market, respectively.
The global body armour and personal protection market is expected to be driven by force modernisation programmes implemented by large defence spenders worldwide, terrorism and organised crime, as well as police modernisation programmes.
North America region is expected to dominate the market with a 24.3% share from 2016 to 2026, followed by Europe and the Asia Pacific region with 23.2% and 22.9% shares, respectively.
Emerging technological innovations, coupled with increasing IED and ballistic threats, will drive investment in areas, such as ballistic inserts, lightweight under suits, advanced night vision equipment and combat helmets.