Continuously evolving nature of warfare coupled with availability of new and improved body armor materials has improved various aspects of the concealable vest such as mobility, survivability, and durability. These factors have propelled the demand for modern concealable vests. Improved military warfare capabilities and lenient firearms law in multiple countries have increased the chances of escalated conflicts that can fatally injure defense personnel or law enforcement forces. Owing to these factors the market of concealable vests can expect steady growth in the forecast period.
Concealable Vest Market: Regional Overview
The US is currently having the largest market for concealable vests as the government is continuously investing in modernization of defense capabilities whether it be law enforcement divisions or military warfare divisions. On the other hand, strong economic growth in the European region along with growing concern of various countries towards improving defense against counterterrorism and counter insurgence is expected to aid the growth of concealable vests in the region. The strong economic countries of Asia Pacific including China, India, Japan, and Australia have also increased their defense budget substantially to modernize their current military arsenal which is also expected to be a contributing factor towards the growth in the market of concealable vest. All these factors indicate that concealable vest market will have a steady growth in every region of the globe.
Concealable Vest Market: Segmentation
The market of concealable vest can be segmented by protection grade, material used, end-user, build type, and wearing style.
On the basis of protection grade Concealable vest can be classified into the following categories:
- Grade I
- Grade II A
- Grade II
- Grade III A
- Grade III
- Grade IV
On the basis of materials, the concealable vests can be classified as:
- High molecular weight poly-ethylene
- Ceramic composites
- Boron Carbide
- Silica Carbides
- Ceramic metal composites
- Steel plates
On the basis of end-users concealable vests can be classified as:
- Defense personnel
- Law enforcement units
- Private security guards
- Intelligence agencies
On the basis of build type, concealable vests can be classified as:
On the basis of wearing style the market can be segmented into:
- Velcro Strapped
Concealable Vest Market: Dynamics
Introduction of new advanced material and shifting focus of countries towards modernizing existing stocks of vests is one of the key driving factors of the concealable vest market. On the other hand, evolved battlefield situations have also forced the countries to improve protection of its armed personnel in respective zones. Strong military-centric countries like Russia, France, UK, are focused on acquiring modern protection for their military as well as law enforcement departments. For Instance, amid rising tensions on the Indo-China border the govt. of India have allocated US$ 86 million for the procurement of modern vests for its armed forces.
High costs of ballistic concealable vests are causing restraint in the sales, as multiple entities have insufficient funds to allocate for the cause.
Concealable Vest Market: Key Players
Concealable vest market is having several key players as the market is bifurcated into several segments. Some of the leading manufacturers include MIT GEL body armor, Elite Group Ballistics, Spartan Armors, Indian Armour, KDH Defense Systems, Point Blank Solutions, Pacific Safety, AR500 Armor, and Safariland Ltd Inc. Most of these producers are focused on improving their Grade III A armors as they have the highest demand. Among these MIT GEL's gel-based Concealable Vest has been gathering notable attention due to its high mobility which is coupled with NIJ 0.05 rating. Similarly, Spartan Armors are researching newer compositions of armor plates to reduce its ricochet feedbacks of their product.
Impact of Covid-19 on Concealable Vest market
The market of Concealable vest has experienced a slight slump due to shift of focus from military to healthcare sector which is expected to be short-termed and return to normal after the pandemic situation improves. Although conflict tensions in countries like India, China, Azerbaijan, and Armenia have increased the expenditure on specific segments of the vests. These factors indicate that impact of corona has been moderate in the industry.
The research report presents a comprehensive assessment of the concealable vest market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report of the concealable vest market provides analysis and information according to the different market segments such as end-use, type, sales channel and region.
The concealable vest market report covers exhaustive analysis on:
- Market Segments of the Concealable Vest Market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends / Issues / Challenges
- Competition & Companies Involved
- Value Chain of the Concealable Vest Market
Regional analysis includes:
- North America (U.S, Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Rest of South Asia)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- Middle East (GCC Countries, Israel, Turkey, Egypt, Rest of Middle East)
- Africa (Nigeria, South Africa, Kenya, Sudan, Rest of Africa)
The concealable vest market report is a compilation of first-hand information, qualitative and competitive assessment industry analysts, and inputs from industry experts and industry participants across the value chain. The report for the concealable vest market provides an in-depth analysis of the parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of the concealable vest market.
- Changing market dynamics in the concealable vest market.
- In-depth concealable vest market segmentation.
- Historical, current, and projected market size in terms of volume and value.
- Recent industry trends and developments in the concealable vest market.
- Competitive landscape.
- Strategies of key players and products offered.
- Potential and niche segments, geographical regions exhibiting promising growth for the concealable vest market.
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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