Bullet Proof Glass Market Size
The Global Bulletproof Glass Market reached USD 15.3 billion in 2022 and is expected to reach USD 45.0 billion by 2031, growing with a CAGR of 16.9% during the forecast period 2024-2031. The global market for bullet proof market is witnessing a major upward market trend as safety glasses are in great demand in commercial buildings and offices where protection is a major concern.
Besides this, the market opportunities are growing as bulletproof glasses are the popular choice for protection in stadiums, industries, arenas, financial institutions and even police stations.
Bulletproof glasses are considered the most preferred choice in a military base and other armored vehicles in huge numbers due to high-pressure resistance. Air chamber glass can stop the bullet in an extremely different way and this new curved transparent vehicle armor contains an air cavity between the glass and polycarbonate. The glass is very hard, deforming the incoming bullet and the deformed bullet completely penetrates the glass and gets stopped by the flexible polycarbonate.
North America is among the growing regions in the global bulletproof glass market covering more than 37% of the market share. The region has witnessed a surge in market opportunities and participation in bulletproof glass due to an increase in disposable income and an increase in violence. Further, the acrylic segment dominates the global bulletproof glass market with almost 50% of the market share. In short, the market shows promising opportunities for manufacturers and suppliers, driven by growing violence and increasing emphasis on safety.
Market Summary
| Metrics | Details |
| CAGR | 16.9% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Security, Material, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Security Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rise in Global Military Expenditure
Thanks to emerging security challenges and great power competition, military expenditure is rising globally. The global military expenditure totaled nearly USD 1.98 trillion at the end of 2020, an increase of 2.6% in real terms from 2019, according to the Stockholm Global Peace Research Institute (SIPRI), a security think tank. U.S. accounts for the largest share, with a budget of USD 778 billion, more than the next 10 nations combined. China, India and Russia follow it. All the major world powers are currently modernizing and expanding their armed forces and hence, defense spending has soared.
With a few exceptions, all the major world powers have a well-developed military-technical base, allowing them to field new and innovative weaponry more quickly at reduced costs. Most acquisition funds go towards high-tech weaponry such as fighter jets, warships and tanks. However, significant expenditure is also made towards defensive acquisitions, such as troop protection, including bulletproof glass. More attention is now paid to troop survivability and limiting battlefield casualties; hence spending on ballistic protection such as armor and bulletproof glass for troop vehicles is set to increase.
Rising Global Crime and Insecurity
Violent crime and insecurity are rising globally, especially in developing countries. Various countries in North America, South America, Middle East and Africa and Asia-Pacific are experiencing high levels of crime and insecurity. In North America, the Central American countries of Guatemala, El Salvador and Honduras have become notorious for gang violence. Mexico is another country troubled by drug trafficking and narcoterrorism.
The U.S. also experiences high violent crime rates in low-income areas of its major cities. In South America, Venezuela has seen an unprecedented rise in violent crime, mainly due to a severe economic crisis that led to state collapse. Colombia, a transcontinental hub for drug trafficking, is also experiencing violent crime. Brazil is another country plagued by gang violence, especially in urban low-income areas.
High Costs Associated with Bulletproof Glass
Bulletproof undergoes a complex manufacturing process. The glass must be thick enough to withstand multiple shots from handguns and rifles. However, the index of refraction must be kept intact between the multiple levels since the glass must be transparent. High-skilled labor is required for the manufacturing of bulletproof glass.
Innovative and proprietary technologies are used in the manufacturing process, increasing costs. Bulletproof glass is also made to order; hence each glass panel manufactured is uniquely customized to clients' requirements. The only mass production occurs for institutional buyers, such as the police and the military. The aforementioned facts increase the production price of bulletproof glass and increase the end-product price.
Market Segment Analysis
The global bulletproof glass market is segmented based on security, material, end-user and region.
Unique Properties and Cost-Effectiveness
The global bulletproof glass market of acrylic has reached USD 8.0 billion in 2022 and is estimated to grow at a CAGR of 19.5% over the forecast period. The material has unique properties that make it ideal for various purposes, ranging from basic household items to fiber optic cables that power the world. Bulletproof glass made up of acrylic sheets provides a safe and cost-effective solution to the challenge of creating safer environments. The glasses are more than 30% less expensive than other bulletproof glass made of bullet-resistant laminated glass and polycarbonate.
Furthermore, bullet-resistant plexiglass is the most often purchased bulletproof material since it can be drilled, routed, cut and mounted without cracking or shattering any structure. In addition, bullet-resistant plexiglass can be polished and is optically clear. Moreover, bullet-resistant systems based on monolithic acrylic can be built to UL-rated level 1 or level 2 bullet resistance. The aforementioned factors play a key role in boosting the demand for acrylic in the global bulletproof glass market.
Market Geographical Share
The Uptick in Violence in North America
The North America bulletproof glass market was valued at US$ 5..7 billion in 2022 and is growing at a CAGR of 17.5% during the forecast period. The U.S. has a vastly higher homicide rate than any other developed nation, which has boosted the demand for bulletproof glasses in various applications.
In 2021, there have been more than 100 mass shootings in the U.S. in under 100 days. Now, businesses and school districts are looking to ramp up security measures, including bulletproof glass, amid the uptick in violence. Rather than teaching Lowcountry businesses to only react to dire situations, their doors and filmed bulletproof glass offer a way to be proactive.
Further, Mexico has seen a major outbreak of violence in recent years as gangs fight over trafficking routes and territories. As more people look to save themselves from violence, the demand for bulletproof cars has soared. On the other hand, Mexican drug lords are paying up to USD 300,000 for air-conditioned building tombs featuring bulletproof glass and security systems where their relatives can visit. The aforementioned factors bboostthe demand for bulletproof glasses in North America.
Market Companies
The major global players include Total Security Solutions (TSS), Saint-Gobain, PPG Industries, Inc., AGC Inc., Schott AG, Taiwan Glass Ind. Corp., Nippon Sheet Glass Co., Ltd, Armortex, Apogee Enterprises, Inc. and Binswanger Glass.
COVID Impact
The global bulletproof glass market experienced a strong decline in 2020, owing to COVID-19's impact. Governments globally imposed strict lockdowns of varying durations starting from March 2020 to curb the spread of the emerging COVID-19 pandemic. The lockdowns caused disruptions in the operations of end-user industries, mainly armored vehicle manufacturers.
Many manufacturers had to scale down or suspend operations owing to government regulations. Manufacturing is a capital-intensive process. With reduced revenues, many industries had to scale back, suspend or postpone capital investments due to the effects of the pandemic. North America, one of the largest markets for bulletproof glass, went into strict restrictions by May 2020 and economic activity reduced sharply, recovering somewhat by late 2020.
Revenues for bulletproof glass companies thus show slight improvement towards the end of 2020. However, with rising cases and the second wave of the pandemic hit North America and Europe in late 2020. Thus, demand remained subdued from 2020 through early 2021. The collapse in demand from the end-use industries caused a severe disruption in the global bulletproof glass market.
The research and development of new technologies and the introduction of new products were delayed. Many small and medium scale enterprises in the bullet proof glass supply chain were facing bankruptcy due to the reduced demand, since being a niche market, many enterprises had single revenue streams.
Russia Ukraine War Impact
The ongoing conflict between Russia and Ukraine has had far-reaching consequences across various sectors, and the global bulletproof glass market is no exception. The Russia-Ukraine war has resulted in significant disruptions to the supply chain of raw materials and components crucial to the production of bulletproof glass.
Both Russia and Ukraine are prominent players in the glass manufacturing industry, and the conflict has led to logistical challenges, trade restrictions, and uncertainty in the region. The aforementioned disruptions have caused delays in the availability of essential materials, impacting the production and distribution of bulletproof glass globally.
However, the war also resulted in certain positive fluctuations in the market. The geopolitical tensions and security concerns stemming from the Russia-Ukraine war have driven increased demand for bulletproof glass. Government entities, military organizations, and private enterprises in regions affected by the conflict are seeking enhanced protection and security measures. The respective surge in demand has led to opportunities for bulletproof glass manufacturers to expand their market presence, cater to the rising needs, and develop innovative solutions to meet evolving security requirements.
Key Developments
- French glass manufacturer, RIOU Glass, made a significant announcement on January 16, 2023, regarding its acquisition of Diffuver, a prominent processor specializing in flat and bulletproof glass. This strategic move marks RIOU Glass's expansion and diversification efforts within the glass processing industry. By joining forces with Diffuver, RIOU Glass aims to strengthen its capabilities in producing and delivering high-quality flat and bulletproof glass solutions to meet the evolving needs of its customers.
- On May 26, 2021, American glass manufacturer, Impact Security, LLC, announced a strategic partnership with Binswanger Glass to launch DefenseLite products. BulletShield, a bullet-resistant variant of DefenseLite, is made commercially available in the market, as per the partnership. Binswanger's DefenseLite program will debut in Dallas and Houston, Texas, and will provide clients with high-security window glazing alternatives for optimal defense against security threats.
- Skoda, the renowned automotive manufacturer, made an exciting announcement on May 30, 2020, as they unveiled a remarkable addition to their lineup—the bulletproof version of the Superb. The new vehicle features a body constructed using a combination of bullet-resistant glass, high-strength steel, and composite materials. The incorporation of these advanced materials ensures superior protection and enhances the safety measures of the Superb. With this groundbreaking release, Skoda showcases their commitment to innovation and provides customers with enhanced security options without compromising style or performance.
Why Purchase the Report?
- To visualize the global bulletproof glass market segmentation based on security, material, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of bulletproof glass market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global bulletproof glass market report would provide approximately 61 tables, 60 figures and 183 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
