Global Body Armor Market to Reach $19.4 Billion by 2022
The cumulative value of the global body armor and personal protection equipment market is expected to reach $19.4 billion by the end of 2022, according to “The Global Body Armor and Personal Protection Market 2012-2022,” a new study from Market Publishers Ltd. The study expects that North America, followed by Europe and the Asia-Pacific region will dominate the market.
Major demand drivers are likely to be internal and external security threats, territorial disputes, modernization initiatives, and technological innovations, as well as a general shortage of body armor from pole to pole, according to the report. Despite the economic downturn in Europe, the region’s share of the global market is projected to increase over the next decade due to the scheduled deployment of various modernization programs.
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