The market for bullet-proof glasses is expected to register a CAGR of over 7% during the forecast period. The major factor driving the market studied is the increasing demand from the defense and construction sectors. However, the slowdown in the global automotive production has impacted the bullet-proof market and is expected to impede the growth of the market studied.
- High military spending from countries, such as the United States, China, Saudi Arabia, India, etc., has resulted in the growing demand in the bullet-proof glass market.
- Growing R&D in making transparent armors more effective and efficient acts as an opportunity for the future of the market.
- North America represents the largest market for bulletproof glasses due to huge spending in defense sector from the region.
Key Market Trends
Increasing Demand from Defense Sector
- Bullet-Proof glasses are used as ballistic protection against any kind of threat that could occur anytime. These transparent armors are widely used by militaries across the globe.
- As of 2019, the United States has the highest military budget in the world accounting for more than USD 675 billion. Saudi Arabia spends about 8.8% of its GDP in defense which is the highest in the world.
- Bulletproof glasses are composed of a layer of the laminated glass followed by a thermoplastic layer. The level of security required also determines the thickness of the bullet-proof glass.
- Since military vehicles face a higher level of threat than civilian ones, a thicker, splinter resistant and stronger bulletproof glass is manufactured to be installed. In fact, structures like guardhouses are also installed with special bulletproofed vision windows.
- All the aforementioned factors are expected to drive the market for bulletproof glasses during the forecast period.
North America Region to Dominate the Market
- North America region dominated the global market share. The United States is the largest manufacturer and exporter of bullet-proof glass. It is also the largest consumer of these glasses because of heavy spending in its military budget.
- United States defense outlays in 2018 stood at USD 621.7 billion and rose to the amount of more than USD 675 billion in 2019.
- The automobile sales in Canada has witnessed a considerable downfall in 2019 with a decline of 3.6% Y-o-Y over 2018 and reached a total of 1,914,357 vehicles.
- An increase in the number of bank robberies and burglaries in the United States is also one of the reasons for the high demand for bullet-proof glasses in the region.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for bullet-proof glasses in all the above-mentioned sectors during the forecast period.
The global bullet-proof glass market is fragmented. The companies operating in the business include GUARDIAN GLASS LLC, Saint-Gobain, AGC Inc., Armassglass, Asahi India Glass Limited, and Binswanger Glass.
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