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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Ballistic Protection Market:
BAE Systems
E.I. DuPont De Nemours
Honeywell International
Royal TenCate NV
Teijin Aramid
Growth drivers and Market Value:
This report, from Stratview Research, studies the Ballistic Protection Market value and growth drivers over the trend period of 2022-27. According to the report -
The global ballistic protection market offers good growth opportunity and is likely to grow at >4% CAGR during the forecast period of 2020 to 2025. Increasing government spending in strengthening the defense sector, increasing conflicts between countries, and rising terrorist & extremist activities are some of the major factors driving the demand of ballistic protection globally.
Segment Analysis:
Based on Product Type:
The global ballistic protection market is segmented into two categories; Personal Protective Equipment and Vehicle Armor. Personal protective equipment is further segmented into three categories namely soft armor, hard armor, and protective headgear. Soft armor is expected to experience the fastest growth over the next five years, driven by increasing demand from defense and law enforcement forces. Government of many countries prefer soft armor that does not have technical challenges including weight. Major soft armor producing companies are developing advanced soft armor which is lightweight, durable, and more comfortable to the soldiers and law enforcement forces. This supplements companies in winning contracts and gaining competitive advantage over competitors.
Based on Region:
North America is expected to remain the largest ballistic protection market during the forecast period. High defense spending by the US government, involvement of US military in middle east regions, such as Syria and Iraq, and increasing concern over terror attacks are some of the major drivers of the North American ballistic protection market.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Ballistic Protection Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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