Global Soft Armor Ballistic Shields Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Soft Armor Ballistic Shields Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Soft Armor Ballistic shields (made of soft armor materials) are protection devices deployed by police and military forces that are designed to stop or deflect bullets and other projectiles fired at their carrier.

Market Overview:

The latest research study on the global Soft Armor Ballistic Shields market finds that the global Soft Armor Ballistic Shields market reached a value of USD 27.6 million in 2022. It’s expected that the market will achieve USD 35.71 million by 2028, exhibiting a CAGR of 4.39% during the forecast period.

Influence of COVID-19 Outbreak on Soft Armor Ballistic Shields Industry Development

The economic losses caused by the epidemic may prompt some countries to cut public spending, which in turn will trigger the risk of domestic unrest and long-term political instability. The possibility of domestic unrest has increased, and attacks on foreigners and foreign-funded companies have increased which will increase the demand for Soft Armor Ballistic Shields.

Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.

Market SWOT Analysis

Strength

Increasing terrorist activities and anti-nationalist activities have led to incessant adoption of Soft Armor Ballistic Shields for defense and law enforcement protection applications.
Demand in the Commercial application segment is anticipated to increase significantly over the forecast period owing to a rise in burglaries and robberies, which are driving the demand for Soft Armor Ballistic Shields.
The rise in conflicts and contradictions in various region , such as South Korea, Iraq, and India, is further acchongdcelerating the industry growth.

Weakness

Economic crisis conditions in many countries and less budgetary allocation for defense sector, especially in European countries such as UK, Germany, etc. may hamper the demand and restrain the growth of the global Soft Armor Ballistic Shields market.
Innovation of technology is a promote factor of this industry, however, lack of technical and process breakthroughs will be one of the hamper factors.
Guns are illegal in many countries or regions, which will limit the increase in demand for Soft Armor Ballistic Shields to a certain extent.

Opportunities

Continuous innovation in materials and manufacturing technology has led to the emergence of advanced textile materials, such as Kevlar fibers, nanotechnology materials, which can be used to produce lightweight armor with improved ballistic resistance. The lightweight function especially improves the mobility and response time of security personnel, law enforcement personnel and military personnel.
Military programs such as the U.K.’s Future Infantry Soldier Technology (FIST) program, France’s FELIN program and the US Soldier Protection System-Torso and Extremity Protection (SPS-TEP) program drives the market.
New innovations and introduction of additional features with more advanced designs and customization by manufacturers is also propelling the growth of the global market.

Threat

The threat of alternatives, such as Hard Armor Ballistic Shields.
Increases in players within the industry will pose a threat to existing market share.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview

Point Blank Enterprises, Inc. is one of the major players operating in the Soft Armor Ballistic Shields market, holding a share of 40.87% in 2020.

Point Blank Enterprises, Inc. (PBE) is the worldwide leader in the development, manufacturing and distribution of high-performance protective solutions for the U.S. military and Department of Defense, federal agencies and both domestic and international law enforcement and corrections professionals. The Company has the strongest portfolio of product brands in the industry including Point Blank Body Armor, Protective Products, PACA and PARACLETE®.

Chase Tactical is a veteran-owned, service disabled small business and manufacturer of premium tactical military gear specifically tactical nylon products. It has extensive background in military, law enforcement, and paramedic operations.

Segmentation Overview:

Among different product types, Without Plate Inserts segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Defense segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Soft Armor Ballistic Shields market covered in Chapter 3:

Daw Tech
Point Blank Enterprises, Inc.
Patriot3
Galls
Allplast
Baker Ballistics
TYR Tactical

In Chapter 4 and Chapter 14.2, on the basis of types, the Soft Armor Ballistic Shields market from 2018 to 2029 is primarily split into:

With Plate Inserts
Without Plate Inserts

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Soft Armor Ballistic Shields market from 2018 to 2029 covers:

Defense
Homeland Security & Law Enforcement
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)