Global Bulletproof Glass Market is expected to reach USD 8.39 Billion by 2024 from USD 3.46 Billion in 2016 at a CAGR of 13.5%.
Government concerns regarding public safety and security are driving the demand for bulletproof glass throughout the forecast. Surging demand for bulletproof glass automotive & transportation sector, wide applications in Security Level-3 and Security Level-1 Security Level-2 projects, and Security Level-2 modification & development in emerging countries impels growth to the market.
Global Bulletproof Glass Market
Military, automotive, construction, banking & finance and others are the end-user segments of bulletproof glass market. Automotive segment leads the bulletproof glass market. The Military segment is expected to grow at high CAGR during the forecast period. Increasing usage of bulletproof glass in military bases, bomb disposal, mine detection and intelligence surveillance, battle tanks and infantry fighting vehicles will be impelling the growth of the military segment.
Defence & VIP vehicles segment hold largest shares of the market for bulletproof glass. Defence & VIP vehicles include transportation of personnel, VVIP vehicles, premier vehicles, combat vehicles, vehicles used by governments, embassies, and others to safeguard from ballistic or blast attacks.
Geographically, the bulletproof glass market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America dominates the bulletproof glass market and will continue its dominance throughout the forecast owing to demand bulletproof glass from military, automotive and construction segments in this region.