Ballistic Protection Market Size

Ballistic Protection Market size was over USD 13.87 billion in 2023 and is poised to exceed USD 24.58 billion by 2036, witnessing over 4.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ballistic protection is evaluated at USD 14.37 billion.

The rise in the spending of defense in order to avoid warfare situations among emerging economies along with increasing internal as well as external security threats are anticipated to drive the growth of the market. Further, surge in technological advancements for latest gadgets and devices for personal protection is leading to increased demand for the product. Strong government regulations for the protection of soldiers in order to improve their survivability are propelling the market growth. Moreover, carrying heavy equipments, kits and weapons to wars increases the weight on soldier, therefore, research & development has increased focus for making lightweight armour. Hence, these factors will account for the growth in the market over the forecast period.