Bulletproof Vest Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Bulletproof Vest Market is Segmented by Type (Soft Vest and Hard Vest), Purpose (Military and Civilian), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The Report Offers Market Size and Forecasts for the Above-mentioned Segments in Value (USD million).

Market Snapshot

Bulletproof Vest Market Overview
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Latin America
Largest Market: Asia Pacific
CAGR: 2.2 %

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Market Overview

The bulletproof vest market is projected to grow from USD 1,059 million in 2021 to about USD 1,290 million by 2030, registering a CAGR of approximately 2.2% during the forecast period (2021-2030).

The impact of COVID-19 on the market is negligible. The demand for bulletproof vests has been growing significantly over the past few years. However, the bulletproof vest manufacturing output of the manufacturing companies remained lower than the previous years due to the temporary shut down of production in 2020.

The growth in military expenditure of developed and emerging countries worldwide is expected to be the prime growth driver for the market.

The rise in terrorism and hostile activities between various countries in the Asia-Pacific, Europe, and Middle-East and Africa is forcing the countries to focus on procuring protection solutions for their dismounted infantry, accelerating the growth of the market during the forecast period.

The heavy weight of the bulletproof vests makes it difficult for military personnel to wear and move freely on the battlefield. Thus, the companies and governments are investing in the development of advanced light vests with increased mobility with the integration of advanced technologies like 3D printing and the use of composite materials.

Scope of the Report

A bulletproof vest (or a ballistic vest) is a body armor that absorbs the impact and reduces or stops penetration of the bullets fired from a firearm and shrapnel from explosions. The market is segmented on type into the soft vest and hard vest. By application, the market is segmented into military and civilian. The military segment of the market includes the procurement of bulletproof vests from armed forces, special forces, law enforcement agencies, etc. The report also covers the market size and forecasts for the market in major countries across different regions. The market sizing and forecasts are provided in value (USD million).

Soft Vest
Hard Vest
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Military Segment Held the Largest Market Share by Revenue in 2020

The military segment currently has the highest market share and is expected to continue its dominance during the forecast period. This is majorly due to growing military expenditure, further propelling the large-scale procurement of body armors and bulletproof vests for the dismounted infantry of the armed forces. Thus, the French government introduced the O-NYX program under the defense spending plan to replace small equipment such as handguns, helmets, and bulletproof vests over the coming years. The governments are expected to increase their investments toward the procurement of advanced vests for law enforcement agencies in the coming years due to a shortage of equipment. For instance, in January 2021, the union of Guardia Civil announced that the troops are sharing bulletproof vests due to the lack of new bulletproof vests due to the expiration of hundreds of vests over the past few years. In 2019, the union announced that there was a shortage of more than 1,300 bulletproof vests. Under such circumstances, the government of France is expected to place an order for new and advanced vests in the coming years. Moreover, there is an ongoing development of advanced materials for lightweight bulletproof vests to offer better mobility for the troops. As of 2019, the US Army Research Laboratory (ARL) was working on developing 3D printed high-density ceramic materials, which is one of the major components in manufacturing hard armors. Such investments are expected to accelerate the growth of this segment during the forecast period.

Bulletproof Vest Market Share

Asia-Pacific Region Held the Highest Share in 2020

Asia-Pacific had the highest share in 2020, and it is expected to remain the largest spender on procurement of bulletproof ballistic protection products during the forecast period due to large active military and law enforcement agency personnel in the countries like China, India, and South Korea. The escalating border tensions between various countries in the region and the aging of existing bulletproof vests are expected to drive the growth of the market. For instance, in 2018, the Government of India placed an order for about 0.19 million bulletproof jackets worth INR 639 crores (USD 85.9 million) for the Indian Army troops deployed for counter-insurgency operations and at the borders. The contract was scheduled to end by April 2020. In January 2019, New Zealand Police signed an agreement with Cooneen Protection to manufacture and supply the new body armor system over three years. The new armors systems are expected to replace the existing body armors due to their light weight, comfort, and individually issued tactical pouches to carry equipment like radio, OC spray, and baton. The investment into the procurement of advanced ballistic protection armors is expected to propel the region’s growth in the coming years.

Bulletproof Vest Market Growth Rate By Region

Competitive Landscape

The bulletproof vest market includes many players that supply their products to local law enforcement agencies and armed forces. Central Lake Armor Express Inc., DuPont, Honeywell International Inc., Condor Outdoor Product Inc., and U.S. Armor Corporation are prominent players in the bulletproof vest market. Companies, like Honeywell International Inc., and DuPont, provide raw materials to bulletproof vest manufacturers, like Central Lake Armor Express Inc., that supply their own branded vests to the customers. In addition to the global players, a few local players are entering the market with new bulletproof vests for the armed forces, particularly in Asia-Pacific and some of the countries in Middle-East and Africa due to the increased focus on indigenous manufacturing. Furthermore, the companies are investing in the development of new lightweight bulletproof vests with advanced materials, which will provide enhanced protection, increasing their share in the market in the coming years.

Recent Developments

In November 2020, the US Department of Justice, Bureau of Justice Assistance, and Office of Justice Programs awarded the Kalamazoo Department of Public Safety a grant of USD 29,623.75 under the Bulletproof Vest Program. Under this program, the official at the Kalamazoo Department of Public Safety will receive new and advanced bulletproof vests and replace their vests, which are in operation for five years. The grant is expected to cover 50% of the vest costs, and the remaining cost is expected to be funded under the Public Safety general fund budget.

In February 2020, the Chinese government announced its plan to procure approximately 1.4 million body armor units worth USD 1.85 billion for the military personnel of the People's Liberation Army. Under this plan, the army will receive 467,000 units of plates for enhanced bulletproof vests and 930,000 units of plates for universal bulletproof vests in the coming years.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 Type

      1. 5.1.1 Soft Vest

      2. 5.1.2 Hard Vest

    2. 5.2 Application

      1. 5.2.1 Military

      2. 5.2.2 Civilian

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

      2. 5.3.2 Europe

        1. United Kingdom

        2. France

        3. Germany

        4. Russia

        5. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. Brazil

        2. Rest of Latin America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. United Arab Emirates

        3. Rest of Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 ELMON SA

      2. 6.2.2 Central Lake Armor Express Inc.

      3. 6.2.3 DuPont

      4. 6.2.4 Honeywell International Inc.

      5. 6.2.5 U.S. Armor Corporation

      6. 6.2.6 Hawk Armor Protection & Safety Solutions Pvt Ltd

      7. 6.2.7 Condor Outdoor Product Inc.

      8. 6.2.8 EnGarde Body Armor

      9. 6.2.9 MKU Limited

      10. 6.2.10 C.E.S Kompozit ve Savunma Tekn. A. ?.

      11. 6.2.11 ARGUN s.r.o.

      12. 6.2.12 Seyntex NV

      13. 6.2.13 MARS Armor


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Frequently Asked Questions

The Bulletproof Vest Market market is studied from 2018 - 2030.

The Bulletproof Vest Market is growing at a CAGR of 2.2% over the next 5 years.

The Bulletproof Vest Market is valued at 1059 Million USD in 2018.

The Bulletproof Vest Market is valued at 1290 Million USD in 2030.

Latin America is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Central Lake Armor Express, Inc., DuPont, U.S. Armor Corporation, Condor Outdoor Product, Inc., Honeywell International Inc. are the major companies operating in Bulletproof Vest Market.

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