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Article

The Increasing Need for Life Protection Products

Elif Erdoğan - R&D Project Leader

Issue 83

The global market for ballistic protection is estimated to grow at above-average rates at a CAGR of around 5.5 percent from 2017 to 2020 and is forecasted to be worth $11.2 billion by 2022.

The ballistic protection market can be segmented by geography (Americas, APAC, EMEA), by type (body armor, vehicular armor), sub-type (soft armor, hard armor, personal protective headgear), and by application (defense, homeland security, commercial) and there are good opportunities in the market thanks to the high protection budgets in many developing countries. The defense segment dominates the industry with a 75 percent share of the market and it is expected to maintain its position over the coming years.