Rising Defence Expenditure and Growing Exports to Shape the Future for Bulletproof vest manufacturers in India: Ken Research
Posted on 19 October 2016 by KenResearch defense and security,
- Growth of ballistic protection market is anticipated to be led by growing military strength of the country, expanding defence budgets and inclining global demand for domestically manufactured bulletproof vests and other ballistic equipments.
- Bulletproof Vests/Jackets had dominated the market in the country over the years in terms of both value and volume.
- The leading players in ballistic protection industry are MKU, Indian Armor, TATA Advanced Materials, Starwire and Shri Lakshmi Defence Ltd.
Ken Research announced its latest publication on “India Ballistic Protection Market Outlook to 2021 - Rising Defence Expenditure and Growing Exports to Shape the Future” The report covers various aspects such as overall size of the ballistic protection market in terms of value and volume, segmentation on the basis of types of products, domestic sales and exports and others. The report also covers future outlook and projections of the industry. Additionally, the report offers prevalent trends, developments and challenges in industry and SWOT analysis of the current market. The report also covers the competitive landscape of the industry and comprehensive profile of leading players operating in the market. The report also serves as a benchmark for existing players and every new player who wish to capitalize the market potential and investors who are looking forward to venture into the ballistic protection market in India.
Personal ballistic protection equipment includes reinforced clothing for a user to wear and protect him from bullets or other shrapnel that may cause harm to the individual. The most commonly used personal ballistic equipment is bullet proof vest/ jacket. They are primarily used to protect the major part of the torso of the wearer, since it is the region of the body that offers the maximum target area for an assailant. Ballistic boots and shoes are also extensively used as they protect the feet from injuries and also help to maintain the temperature of the feet which is critical in high altitudes for the wearer. Bomb suits or demining suits, on the other hand are used by special cells of the armed forces or police forces. The market for these products is relatively smaller, since these equipments are used for special purposes. The current tender process to procure such equipments in India is very complex and long. Since individual states manage their own defence decisions and the state government rarely mentions their requirement until they finally come out with a tender, the tender process takes a long process and breaks to complete the final procurement and fund disbursal. Hence many domestic companies focus on exporting the products to other countries.
In FY’2016, the largest share in the personal ballistic protection market in India was countered by bullet proof vests. This considerable share has been witnessed owing to the fact that vests are the most commonly used form of protection gear. The risk of personal safety for VIPs and HNWIs has also led to a rise in the demand for these products, primarily bullet proof vests, which has been instrumental in helping this increase in demand.
“Increasing demand of ballistic protection in the country had increased its production in the country. The leading and the emerging companies should focus on the international market as huge demand for Indian ballistic products, especially vests is arising from foreign military and police forces. Large number of Indian companies are already supplying to significant number of clients all over the world. Entities such as British Armed Forces, US Department of Defense, United States Agency for International Development (USAID), United Nations Development Program (UNDP), Ghana Armed Force, Royal Thai Army and Royal Thai Navy, Japan Maritime self-defense forces and Nepalese army buy bulletproof jackets/vests in large quantities from Indian manufacturers.” according to the Research Analyst, Ken Research.
Key Topics Covered in the Report:
- India Ballistic Protection Market Introduction and Size by value and volume
- India Ballistic Protection Market Segmentation (By types of products and import and domestic production)
- India Ballistic Vest/Jacket Protection Market size by value and volume
- India Ballistic Vest/Jacket Protection Market Segmentation (By domestic sales and exports)
- India Ballistic Boots Market size by value and volume
- India Ballistic Blankets Market size by value and volume
- India Ballistic Blankets Market Segmentation (By domestic sales and exports)
- India Demining Suits Market size by value and volume
- India Bomb Suits Market size by value and volume
- India Ballistic Helmet Market size by value and volume
- India Ballistic Helmet Market Segmentation (By domestic sales and exports)
- Company Profile of Leading Players in India Ballistic Protection Market
- SWOT analysis of India Ballistic Protection Market
- India Ballistic Protection Market Future Outlook and Projections
Key Product Mentioned in the Report
- Bulletproof Vest/Jackets
- Ballistic Helmets
- Ballistic Boots
- Demining Suits
- Bomb Suits
- Ballistic/Bomb Blankets
- Bulletproof Glass
- Armored Vehicles
Companies Covered in the Report
- Indian Armor
- TATA Advanced Material
- Shri Lakshmi Defence Ltd
For more information about the publication, refer to below link:
Ankur Gupta, Head Marketing & Communications