US Soft Body Armor Market
To understand the competitive position and opportunities for a business venture by obtaining background information about the US soft body armor market, including the size of the overall industry in the US in dollars, the segmentation of customers (particularly related to the spending of US military and law enforcement agencies) and the law enforcement agencies that spend the most on soft body armor.
US Body Armor Market Size
- Initial research suggests there is limited, publicly available information about the size of US soft body armor market, however data is readily available related to the overall body armor market in the country.
- According to February 2020 reporting by IBISWorld, the US body armor market is currently valued at $694.9 million.
- Although US defense spending between 2015-2020 was "significantly lower" than expected, an increase in armor manufacturing contracts with law enforcement agencies helped industry revenue grow at a CAGR of 2.6% since 2015.
- Although more detailed information about the segmentation of US body armor customers is available only for a fee, publicly available data suggests that the US military and law enforcement agencies account for almost all industry sales in the country.
- For example, Transparency Market Research reports that 80% of body armor sales are from the defense sector, while an additional 16% of sales are with law enforcement agencies.
- Transparency Market Research adds that this customer segmentation is relatively consistent for North America as well as the larger global market.
- Similarly, Grand View Research reports that defense agencies account for over half of body armor revenue worldwide, and that remaining sales are almost entirely attributable to law enforcement agency demand.
- Meanwhile, the first hour of research suggests there is no publicly available, directly-compiled information regarding the US law enforcement agencies that spend the most on soft and/or hard body armor.
Proposed next steps:
You need to be the project owner to select a next step.