/PRNewswire/ The body armor market is dominated by APAC. The region is expected to account for 50% of the market s growth during the forecast period. India.
/PRNewswire/ The body armor market is dominated by APAC. The region is expected to account for 50% of the market s growth during the forecast period. India.
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NEW YORK, June 3, 2021 /PRNewswire/ The ballistic protection market is expected to grow by USD 2.26 billion during 2021-2025, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, in the first half of 2021. In addition, the report projects the market to accelerate at a CAGR of over 4%.
Technavio s in-depth market research reports include value chain analysis and validation techniques to help industry leaders improve their business.
Technavio has announced its latest market research report titled Ballistic Protection Market by Application and Geography - Forecast and Analysis 2021-2025
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SAN FRANCISCO, Feb. 2, 2021 /PRNewswire/ The global body armor plates market size is expected
to reach USD 2.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected
to register a CAGR of 5.2% from 2020 to 2027. The rising demand for armor suits from defense and law enforcement agencies worldwide increases the body armor plate market s growth. Also, emerging economies, such as India and China, are increasingly focusing on replacing legacy military equipment and increasing their defense budget. For instance, in May 2020, China hiked its defense budget to USD 179.0 billion compared to USD 177.6 billion in 2019.