Bulletproof Vest Market Set for Significant Surge, Reaching $2.65 Billion Mark by 2029
28 Jan, 2025
How Has The Bulletproof Vest Market Size Evolved Historically?
The bulletproof vest market has exhibited robust growth in recent times.
• In 2024, the market size was $1.75 billion, reaching $1.91 billion by 2025, with an impressive CAGR of 9.1%.
This robust growth has been fueled by an increase in crime rates, geopolitical struggles, military modernization programs, government regulations, population growth, and mandates.
What Will Be The Bulletproof Vest Market Size In The Future?
The bulletproof vest market is predicted to experience robust growth in the coming years.
• According to forecasts, the market size will reach $2.65 billion by 2029, with a compound annual growth rate (CAGR) of 8.5%.
The factors driving this growth include a rising concern for personal safety and security, growing defense spending, growing civilian markets, and an increase in urbanization. Further trends to look out for include smart armor integration, sustainability and eco-friendly materials, lightweight and flexible design, multi-threat protection, and body-worn cameras.
What Drives The Growth Of The Bulletproof Vest Market?
Increasing military expenditure is playing a pivotal role in the growth of the bulletproof vest market. As nations ramp up their defense budgets to counter security threats and geopolitical tensions, the demand for bulletproof vests soars, enhancing soldier protection and reducing casualties. The Stockholm International Peace Research Institute, for example, reported an increase to 2.3% in the world military burden as a percentage of global GDP in 2023.
What Does The Bulletproof Vest Market Segmentation Look Like?
The bulletproof vest market segmentation in this report is as follows –
1) By Type: Soft Vest, Hard Vest
2) By Material: Kevlar, Ultra High Molecular Weight Polyethylene, Graphene
3) By Application: Covert, Overt
4) By End User: Military, Law Enforcement
What Trends Are Emerging In The Bulletproof Vest Market?
Innovative product development is a key trend gaining traction in the bulletproof vest market. For example, India's Defense Research and Development Organization developed a lightweight bulletproof jacket, reducing its weight from 10.4 kg to 9 kg, providing enhanced comfort for end users.
Who Are The Major Market Players In The Bulletproof Vest Market?
Key players in the market include:
• Wenzhou Start Co Ltd
• VestGuard UK Limited
• U.S. Armor Corporation
• Point Blank Enterprises Inc.
• MKU Limited
• MARS Armor
• Infidel Body Armor
• Honeywell International Inc.
• EnGarde LLC
What Are The Regional Insights Into The Bulletproof Vest Market?
In 2024, Asia-Pacific was the largest region in the bulletproof vest market. South America is projected to be the fastest-growing region in the forecast period.