Bulletproof Glass Market worth 7.65 Billion USD by 2022
The report "Bulletproof Glass Market by End User (Automotive, Military, Banking & Finance, Construction),
Application (Defense & VIP Vehicles, Cash-in-Transit Vehicles, Commercial Buildings), Security Levels, and Region
- Global Forecast to 2022", The global bulletproof glass market was valued at USD 3.56 Billion in 2016, and is
projected to reach USD 7.65 Billion by 2022, at a CAGR of 13.6% from 2017 to 2022.
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On the basis of end user, the automotive segment led the bulletproof glass market. The need for bulletproof glass
in building & construction, automobiles, and military applications is growing significantly, owing to the increasing
incidences of terrorism across the globe. This, in turn, is fueling the growth of the bulletproof glass market.
Automotive is expected to be the largest segment of the global bulletproof glass market
Based on end user, the bulletproof glass market has been segmented into automotive, military, construction,
banking & finance and others. The automotive segment led the bulletproof glass market in 2016 and is projected
to continue the same from 2017 to 2022. The use of bulletproof glass is expected to increase across regions to
fulfill the security needs.
Defense & VIP vehicles was the largest segment of the bulletproof glass market
Based on application, defense & VIP vehicles was the largest segment of the global bulletproof glass market. The
defense & VIP vehicles segment includes combat vehicles, transportation of personnel, premier vehicles, VVIP
vehicles, vehicles used by governments, embassies, and others for protection from ballistic or blast attacks. Some
of the common armored vehicles used in the defense sector include main battle tanks, infantry fighting vehicles,
armored personnel carriers, and tactical tanks. These users have resorted to bulletproof glass armored vehicles for
protection as a result of the rising incidences of terrorism, political violence, and civil unrest, globally.
North America was the largest market for the bulletproof glass market in 2016
North America was the largest bulletproof glass market in 2016. The countries in North America that have been
considered for this study of the bulletproof glass market are the U.S., Canada, and Mexico.
The U.S. is the largest consumer of bulletproof glass; it accounted for the largest share of the North American
market, in terms of volume in 2016. The bulletproof glass industry is heavily influenced by the availability of raw
materials and labor, energy & environmental compliance, and tax liabilities. The need to ensure maximum safety
of financial institutions and reducing risks to human life is expected to drive the market.