Growing military strength and
amplifying defence budget should drive the ballistic protection industry in the
country with the bulk requirement of bulletproof vest, boots and helmets but
current tender process is delaying the procurement.
The report titled “India
Ballistic Protection Market Outlook to 2021 - Rising Defence Expenditure and
Growing Exports to Shape the Future” provides
detailed overview on the ballistic protection market in India and helps readers
to identify the ongoing trends in the industry and anticipated growth in future
depending upon changing industry dynamics in coming years. The
report is useful for ballistic protection equipment manufacturers, industry
consultants other stakeholders to align their market centric strategies
according to ongoing and expected trends in the future.
The need for
ballistic protection has been growing in India with the rise in threat of
domestic and cross-border terrorism. Apart from terrorism, local extremist
outfits such as Indian Mujahideen, Bodo militants, Maoist-Naxalite insurgency
in several of its states has led to the deployment of military and paramilitary
forces in these regions. As the casualties and fatalities from stray explosives
and firings rise in these regions, the need for protective armour by the
general public in these regions has been growing. Moreover, there is a constant
demand from the armed forces in India, since the country’s borders are shared
with China and Pakistan. The market size in for ballistic protection equipments
in India has posted a CAGR of 5.4% over the period FY’2011-FY’2016.
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. Ballistic boots has contributed the second largest share in the overall
market revenues in FY’2016. These boots are largely used by the military
forces. Ballistic boots have been followed by ballistic helmets, which have
captured the third largest revenue share in the ballistic protection market
during FY’2016.
India’s
personal ballistic protection market showcases promising prospects in the future
as the market is estimated to grow at a CAGR of 12.5% over the period of
FY’2017-FY’2021 in terms of sales volume in units. The government has sanctioned
the order of to provide 1.8 lacs bulletproof jackets by the end of 2017. This
has been projected to provide a considerable boost over the period
FY’2016-2021.
Border
tension between India and Pakistan and India and China is also increasing which
will further raise the demand for other ballistic protection equipments such as
ballistic helmets, boots, blankets and others over the period FY’2017-FY’2018.
Further support to the market will be provided by fresh FDI inflows into the
market and the growing demand of the ballistic protection products from the
Indian government.
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
MKU,
Indian Armor, TATA Advanced Material, Starwire, Shri Lakshmi Defence Ltd
For more information about the publication, refer to below
link:
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204
