Product Code: ETC013967 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Singapore bulletproof vest market is expected to register a CAGR of about 4.7% over the forecast period (2020-2026). The market growth is attributed to increasing demand for security and self-protection equipment, especially in areas such as law enforcement and military across the globe. Furthermore, rising investments by governments worldwide in personal defense products are also contributing toward the market growth.
Increasing use of body armor among police personnel: With rising terror threats around the world, governments are investing heavily into protective gear for police personnel, who need additional protection during operations or routine patrolling duties. This has resulted in an increased demand for bulletproof vests across various countries including Singapore.Growing adoption among civilians: There has been a notable increase in civilian applications due to a rise in criminal activities and insecurity concerns arising from natural disasters or social unrests. As such, consumers have started investing more on individual safety solutions which includes wearing bulletproof vests when traveling alone or at night time.Technological advancements aiding product improvements: Over recent years there have been considerable technological advances that have allowed manufacturers to develop better quality body armors with improved strength against bullets and other projectiles while still being lightweight enough for comfortable wearability over long periods of time. These developments have further driven up consumer confidence towards buying products from this segment leading to higher sales volumes within the industry.
Costly nature of ballistic vests hindering adoption rate : Ballistic vests tend to be costly owing primarily due their advanced manufacturing process that involves complex composite materials made using multiple layers molded together with nonwoven fabrics for added cushioning against impacts.Such costs can put restraints on consumption even among government bodies who require them most causing sluggishness within this sector which could impede overall industry progress.Lack of standardization regarding usage guidelines : Another challenge faced by vendors operating within Singapore ballistic vest market revolves around lack of proper regulations governing usage, storage and maintenance standards making it difficult for them sell their wares without potential risks associated with misusing their products.
Some prominent players operating within Singapore Bulletproof Vest Market include Point Blank Body Armor Inc., Armor Express Inc., Safariland LLC, Honeywell International Inc., KDH Defense Systems Inc.; Survival Armor LLC.; MKU Ltd.; Eagle Industries Unlimited ; PARACLETE.
Due COVID 19 pandemic, majority operations within defence industry were disrupted hindering production manufacture at large scale alongwith affecting delivery times shipment schedule as well impacting normal course business adversely.Thus, while creating short term disruption this outbreak has posed long term implications over sector longer time horizon necessitating effective responses timely manner both operational financial level order survive sustainably post crisis situation subsides.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Singapore Bulletproof Vest Market Overview |
3.1 Singapore Country Macro Economic Indicators |
3.2 Singapore Bulletproof Vest Market Revenues & Volume, 2020 & 2030F |
3.3 Singapore Bulletproof Vest Market - Industry Life Cycle |
3.4 Singapore Bulletproof Vest Market - Porter's Five Forces |
3.5 Singapore Bulletproof Vest Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.6 Singapore Bulletproof Vest Market Revenues & Volume Share, By Purpose, 2020 & 2030F |
4 Singapore Bulletproof Vest Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Singapore Bulletproof Vest Market Trends |
6 Singapore Bulletproof Vest Market, By Types |
6.1 Singapore Bulletproof Vest Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Singapore Bulletproof Vest Market Revenues & Volume, By Type, 2020-2030F |
6.1.3 Singapore Bulletproof Vest Market Revenues & Volume, By Soft Vest, 2020-2030F |
6.1.4 Singapore Bulletproof Vest Market Revenues & Volume, By Hard Vest, 2020-2030F |
6.2 Singapore Bulletproof Vest Market, By Purpose |
6.2.1 Overview and Analysis |
6.2.2 Singapore Bulletproof Vest Market Revenues & Volume, By Military, 2020-2030F |
6.2.3 Singapore Bulletproof Vest Market Revenues & Volume, By Civilian, 2020-2030F |
7 Singapore Bulletproof Vest Market Import-Export Trade Statistics |
7.1 Singapore Bulletproof Vest Market Export to Major Countries |
7.2 Singapore Bulletproof Vest Market Imports from Major Countries |
8 Singapore Bulletproof Vest Market Key Performance Indicators |
9 Singapore Bulletproof Vest Market - Opportunity Assessment |
9.1 Singapore Bulletproof Vest Market Opportunity Assessment, By Type, 2020 & 2030F |
9.2 Singapore Bulletproof Vest Market Opportunity Assessment, By Purpose, 2020 & 2030F |
10 Singapore Bulletproof Vest Market - Competitive Landscape |
10.1 Singapore Bulletproof Vest Market Revenue Share, By Companies, 2023 |
10.2 Singapore Bulletproof Vest Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |