Body Armor Plates Market Segments, Drivers, Restraints And Trends For 2024-2033

The Business Research Company's Body Armor Plates Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global body armor plates market is set to experience robust growth, expanding from $1.98 billion in 2023 to $2.09 billion in 2024, at a compound annual growth rate (CAGR) of 5.8%. Despite past challenges, the market is projected to reach $2.58 billion by 2028, growing at a CAGR of 5.4%. This growth is largely driven by increasing global security challenges, advancements in technology, and rising threats and conflicts.

Projected Surge In Crime Rates Drives Body Armor Plates Market Growth
The increase in crime rates is a key driver of the body armor plates market's growth. As criminal activities and firearm-related crimes rise, both civilians and law enforcement agencies are investing in body armor plates to enhance safety. According to the Bureau of Justice Statistics (BJS), the rate of violent victimization in the US increased from 16.5 incidents per 1,000 individuals in 2021 to 23.5 per 1,000 in 2022. This rise, coupled with the fact that approximately 42% of these victimizations were reported to law enforcement, underscores the growing demand for body armor plates.

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Major Companies and Market Trends
Key players in the body armor plates market include Armored Republic LLC, BAE Systems, Ceradyne Inc., Craig International Ballistics Pty Ltd., and Safariland LLC, among others. Notably, Sellmark Corporation fortified its security portfolio with the acquisition of BulletSafe in January 2021. This strategic move enhances Sellmark’s position in the market by expanding its range of ballistic protection products.
Major trends shaping the market include enhanced ballistic protection standards, development of flexible and contour-shaped plates, integration of smart technologies, and a rise in demand for special threat plates. Companies are also focusing on strategic collaborations for research and development to stay competitive

Segments
• By Material: UHMWPE, Steel, Aramid, Composite Ceramic, Other Materials
• By Level: Level II, Level IIA, Level III, Level IIIA, Level IV, Other Levels
• By Application: Defense, Law Enforcement Protection, Civilians, Other Applications

Geographical Insights: North America Leading The Market
North America was the largest market for body armor plates in 2023. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. This region’s growth is driven by increasing defense budgets and rising security concerns.

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Body Armor Plates Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Body Armor Plates Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on body armor plates market size, body armor plates market drivers and trends, body armor plates market major players, body armor plates competitors' revenues, body armor plates market positioning, and body armor plates market growth across geographies. The body armor plates market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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