The global bullet proof glass market size was valued at USD 7.9 billion in 2020 and is projected to surpass USD 12.7 billion by 2028, expanding at a CAGR of 16.57% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for the bullet proof glass in the automotive sector and government providing investment to the manufacturer and promoting the use of bullet proof glass.
Two or more types of glasses are combined to make a strong and optically transparent material known as bullet proof glass also called as ballistic glass or bullet resistant glass. It is installed at places for security purposes to encounter vicious attack such as theft or robberies, banks, cash-in-transit vehicles, and military tanks. They are built using layers of laminated glass.
It can easily handle the pressure created by bullet on glass. The thickness of the glass depends upon the security level needed. Bullet proof glass is mostly preferred by military bases. Celebrities and dignitaries are also demanding for bullet proof vehicles for their security purposes for which many automotive manufacturers are customizing these vehicles.
Market Trends, Drivers, Restraints, and Opportunities
- Growing concern about the security and wellbeing of the people as of rising terrorist attacks and fear of thefts & robberies are anticipated to fuel the market during the forecast period.
- Rapid growth of the terrorism and threat requires bullet proof glass and armors for the military for protection is key factor pushing the market expansion in the coming years.
- High military spending by the governments of different countries is increasing the demand for bullet proof glasses.
- High cost of bullet proof glass is estimated to hinder the market growth.
- Lack of resources or budget for purchasing the bullet proof glass can act as major challenge that can restrict the market expansion during the forecast period.
- Growing R&D investment and technological advancement of making transparent bullet proof armors for effective use is projected to offer significant opportunities for the market players.
Scope of the Report
The report on the global bullet proof glass market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Bullet Proof Glass Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Applications (Cash-in-Transit Vehicles, Government and Law Enforcement, Defense and VIP Vehicles, Commercial Buildings, and Others) and End-users (Military, Banking and Finance, Construction, and Automotive)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Apogee Enterprises Inc., Total Security Solutions, China Specialty Glass AG, Bullet Guard Corporation, Diamond Glass, D.W. Price Security, and National Glass
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Global Bullet Proof Market Segment Insights
The defense and VIP vehicles segment is projected to hold a key market share
On the basis of applications, the bullet proof market is segmented into cash-in-transit vehicles, government and law enforcement, defense and VIP vehicles, commercial buildings, and others. The defense and VIP vehicles segment is expected to hold a key share of the market in the coming years due to high demand for security and to support the military strength of the country. On the other hand, the cash-in-transit vehicles segment is anticipated to expand at a rapid pace during the forecast period owing to the increase in theft or crime are increasing the demand for bullet proof glass vehicles.
The military segment is projected to constitute a major market share
In terms of end-users, the bullet proof glass market is segregated into military, banking & finance, construction, and automotive. The military segment is expected to hold a key share of the market during the forecast period owing to the increasing use for bomb disposal, military bases, armored personnel carriers, fighting tanks, and mine detection. The automotive segment is anticipated to expand at a rapid pace during the forecast period due to rising demand for the bullet proof glass vehicles used by government, embassies, and transportation of personnel.
North America is expected to expand at a robust pace
On the basis of regions, the global bullet proof glass market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period. The regional market growth can be attributed to high consumption of bullet proof glass and presence of leading manufacturer and exporter of vital components of bullet proof glasses. Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to increasing infrastructure development and developing financing sector.
Segments
Segments Covered in the Report
The global bullet proof glass market has been segmented on the basis of
Types
- Traditional laminated
- Polycarbonate
- Insulated ballistic
- Glass-clad polycarbonate
- Acrylic
Applications
- Cash-in-Transit Vehicles
- Government and Law Enforcement
- Defense and VIP Vehicles
- Commercial Buildings
- Others
End-users
- Military
- Banking and Finance
- Construction
- Automotive
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Apogee Enterprises Inc.
- Total Security Solutions
- China Specialty Glass AG
- Bullet Guard Corporation
- Diamond Glass
- D.W. Price Security
- National Glass
Competitive Landscape
Key players competing in the bullet proof glass market include Apogee Enterprises Inc., Total Security Solutions, China Specialty Glass AG, Bullet Guard Corporation, Diamond Glass, D.W. Price Security, and National Glass.
Some of these players are involved in several business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, In March 2017, Wingate Partners, the U.S based investment firm obtained Binswanger Glass, the U.S based leading producers of glass solutions.