Bulletproof Glass Market by End-user and Geography - Forecast and Analysis 2021-2025

“The Bulletproof Glass Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of USD 6.81 billion and CAGR of 16.83% by segment End-user and Geography during the forecast period 2020 to 2025” 

Furthermore, this report extensively covers the smart home appliances market segmentation by end-user (automotive, construction, BFSI, and others) and geography (North America, Europe, APAC, South America, and MEA). The market report also offers information on several market vendors, including Worldwide Operations GmbH, Armass glass, Asahi India Glass Ltd., ESG Group Ltd., Guangdong Golden Glass Technologies Ltd., Nippon Sheet Glass Co. Ltd., SCHOTT AG, Smartglass International Ltd., Taiwan Glass Ind. Corp., and Total Security Solutions.

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Parent Market Analysis

Technavio categorizes the Bulletproof Glass Market as a part of the Consumer Discretionary industry within the Diversified Consumer Services industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year. 

Bulletproof Glass Market: Key Drivers, Trends, and Challenges

Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the bulletproof glass industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge. 

Key Bulletproof Glass Market Driver

One of the key factors driving growth in the market is the rising demand from BFSI Industry. Owing to the need for high security in bank buildings to prevent robbery attempts, add the application of bulletproof glass. Thus, there is a need for glass with resistance to penetration by projectiles and break-in attempts using heavy and sharp objects. Moreover, due to an extremely large amount of cash and precious metals in banks, interior and exterior ballistic glazing with the highest levels of bullet resistance is required. There is a significant increase in the working population in developing countries such as India, which will raise the demand for banking and related services. Thus, this will accelerate the growth of the global market in the nearby future. As of February 27, 2021, the number of bank accounts opened under the government’s flagship financial inclusion drive ‘Pradhan Mantri Jan Dhan Yojana (PMJDY)’ reached 41.93 crore and deposits in Jan Dhan bank accounts stood at more than USD 23.07 billion. Also, penetration of automated teller machines (ATMs) is expected to rise, following a decision by the Reserve Bank of India to increase the interchange fees. This will incentivize banks and white-label ATM deployers to set up several cash dispensers, which will benefit rural areas. Thus, the deployment of bulletproof glass in ATM doors will drive the growth of the market during the forecast period. 

Key Bulletproof Glass Market Challenge

The limitations associated with bulletproof glasses will be a major challenge for the market during the forecast period. There are certain limitations associated with bulletproof glasses. Glass and polycarbonate react differently to wide variations in daily temperature Moreover, if the glass is not made with the proper interlayers that allow expansion of the glass molecules due to heat then a lot of energy builds up inside the material, and there is a chance to develop a crack. Thus, it could even break in extreme weather conditions. Apart from extreme weather conditions, its effectiveness dramatically decreases after the initial hit. In addition, when used in external windows, visibility degrades over time, and haze and ultraviolet (UV) rays become a problem. Ballistic glass may need to be replaced in some cases, as it could crack due to radical temperature fluctuations, building settling over time, or improper installations. These limitations will hinder the growth of the market, especially for applications in hot zones such as desert areas. 

Bulletproof Glass Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the bulletproof glass market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Who are the Major Bulletproof Glass Market Vendors?

AGP Worldwide Operations GmbH - The company produces different kinds of bulletproof glasses which are used in military vehicles, naval & patrol ships and police & anti-riot vehicles.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

• AGP Worldwide Operations GmbH
• Armass glass
• Asahi India Glass Ltd.
• ESG Group Ltd.
• Guangdong Golden Glass Technologies Ltd.
• Nippon Sheet Glass Co. Ltd.
• SCHOTT AG
• Smartglass International Ltd.
• Taiwan Glass Ind. Corp.
• Total Security Solutions

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Bulletproof Glass Market?

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31% of the market’s growth will originate from North America during the forecast period. The US is the key market for bulletproof glass in North America. Market growth in this region will be faster than the growth of the market in the European regions.

The market in North America is expected to grow, owing to the growth of the BFSI sector in this region. Additionally, the presence of leading vehicle OEMs, such as INKAS Armored Vehicle Manufacturing, in this region will aid in the growth of the market. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market was adversely affected by the COVID-19 pandemic in 2020, which led to a decline in the sales of bulletproof glass in the region. The US was the most severely hit economy worldwide. The temporary shutdown of automotive manufacturing facilities and construction activities affected not only the production of vehicles but also the demand for components associated with them. This resulted in a decline in the demand for bulletproof glass.

What are the Revenue-generating End-user Segments in the Bulletproof Glass Market?

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The market share growth by the automotive segment will be significant during the forecast period. Global economic development, expenditure for safety purposes, and the growing demand for luxurious cars are driving the growth of the market in the segment. Many automakers such as Audi, BMW, and Land Rover offer in-house bulletproofing options, and many private players manufacture armoured vehicles. New product launches have been significantly adding value to the segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Bulletproof Glass Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the bulletproof glass industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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