Industry Outlook
Bulletproof Security Glass Market is expected to reach US$ 11.36 Bn by 2026 with 11.3% CAGR during the forecast period from 2018 to 2026. In 2017, North America led the bulletproof security glass market and is estimated to be the fastest growing region between 2018 and 2026.
Bulletproof glass also known as bullet resistant, transparent armor or ballistic glass is a type of bullet resistant thermoplastic that includes traditional tempered glass. It is basically constructed by using thermoplastic, polycarbonate and laminated glass. Polycarbonate is used as a soft material in bulletproof glass owing to the fact that it can flex back thereby holding broken glass pieces in place as it absorbs the impact. Laminated glass is also a safety glass that is treated with polyvinyl butyral layer that aims to hold the glass pieces together when shattered. These materials are generally laminated in layers that gives the appearance of standard glass thereby protecting the glass from bullet impact. Bulletproof glass is an important component of various security systems that basically aims to encounter various violent assaults that includes ATM booths, robberies, banks, display cases, cash trucks and premium vehicles among others which requires protection from small projectiles and bullets. Bullet resistant glasses can resist one or more rounds of bullets which is basically dependent on the thickness of glass or weapons that are used to fire at them. Transparency, weight, and level of bullet resistance are other prime factors that are considered in bulletproof glass manufacturing.
Growing demand of bulletproof glass from transportation and automotive sector, requirement for safety measures, rising demand from wide applications in commercial, residential and infrastructure projects, increasing government concerns with respect to public safety and security followed by infrastructure development in emerging economies are some of the factors responsible for the growth of this market during the forecast period. Trend shows that need to provide maximum security and safety of financial institution owing to increase in number of financial institutions have improved the prospects of bulletproof security glasses as they require high end security. In addition, growing infrastructural development in developing countries that includes China and India is also propelling the growth of this market during the forecast period. Growing demand of bulletproof glasses in defense sector is also driving the global market. Iraq, Israel and Syria are some of the countries that are highly vulnerable to terrorist attacks and thus have been witnessing surging demand from building construction as well as automotive end use sectors. Hence, increasing demand for bulletproof vehicles from defense and military installations followed by buildings is also augmenting the market growth. Manufacturers are focusing on introducing varieties of bulletproof glass by using advanced processing and manufacturing technologies. Bulletproof glass manufacturers aim to deliver varieties of bullet resistant barrier systems such as doors, ballistic counters bullet resistant transaction windows and bullet resistant frames among others. These are basically deployed in various new construction projects of schools, financial services, vehicles and other crime prone locations. For example, in January 2018,Tesla launched The Model S P100D,electric car that is fitted with bulletproof security glass and armoured roof with Armormax material.
However, regions across the globe have introduced various laws that prohibits the use of bulletproof glass. For example, in December 2017, the Philadelphia City Council passed a bill to regulate the use of any physical barrier in stores that sells alcohol and food. The bill was passed with an objective to remove bulletproof security glasses from the windows of various local businesses owing to illegal supply of liquor followed by illegitimate functioning of restaurants as bars. In addition, owing to insufficient research and development investment, manufacturers in developing regions does not meet the international quality standards which in turn affects the export activities thereby hampering the growth of this market during the forecast period from 2018 to 2026.Increasing defense expenditures of developing economies followed by increase in research and development activities for developing advanced bulletproof security glasses serves as opportunity for the global bulletproof security glass market.
Automotive Segment propelling the growth of Bulletproof Security Glass Market
By end-user, automotive segment held the largest share both in terms of value and volume and is expected to maintain its dominance during the forecast period from 218 to 2026. Trend shows that armored vehicles are used by VIPs, embassies, governments and banks among others to prevent blast attacks. Bulletproof security glass basically finds application in side and rear windows, vehicle windscreens and glass panel roofs that aims to protect it from ballistic attacks. Lasco International Group, based in the U.S, provides bullet resistant flat glass and laminated window auto glass to cater to its automotive bulletproof security glass segment. The armored auto glass segment of the company reproduces the original shape, safety, and comfort, appearance and dimension and also aims to maintain tight blending tolerances thereby optimizing the bullet resistant capacity of its glasses meant for automotive segment. The military segment is expected to grow at a fastest rate owing to the increasing application of bulletproof glass in combat operations, infantry fighting vehicles, military bases, and transportation of personnel, bomb disposal, armored personnel carriers, mine detection, battle tanks and tactical tanks among others. For example, Saint-Gobain Sully, based in France is a leading provider of bulletproof security glass in Europe that deals with armored glass for military armored vehicles. In addition, it also provides bulletproof security glasses for civilian and cash in transit vehicles. Trend shows that researchers and manufacturers are focusing on developing new technology that can be used to make bulletproof security glasses for military application. For example, in June 2017, researchers from Tomsk Polytechnic University are focusing on developing a transparent ceramics production technology(TPU) that are used to make armor and bullet resistant glasses for military and aerospace equipment. This new technology aims to reduce the weight of glasses by two to three times thereby increasing the ballistic strength. All these factors are expected to drive the automotive and military segment in the global bulletproof security glass market during the forecast period.
Defense & VIP vehicles identified as the dominant Application Segment in 2017
The defense & VIP vehicles segment includes vehicles used by embassies, transportation of personnel, VVIP vehicles, combat vehicles, premier vehicles, governments and others for protection from blast attacks. Few armored vehicles used in the defense sector include tactical tanks, infantry fighting vehicles, main battle tanks and armored personnel carriers among others. Owing to the growing incidences of political violence, terrorism and civil unrest, users have resorted to bulletproof security glass for armored vehicles. The compartment of defense and VIP vehicles are made up of high-quality materials such as multi-laminated glass, heat resistance armor steel and aramid fabric. It aims to provide protection to vehicles from all sides thereby preventing it from bullets, bombs or grenade attacks. Some defense and VIP vehicles are designed in such a way that it provides a secret exit path from the vehicle which in turn help the VIP’s to escape unhurt. Hence defense and VIP vehicles are armored with bullet proof glass and heavy frame to provide protection from blast and bullet attacks.
North America is the Largest Region in the Global Bulletproof Security Glass Market
North America held the largest market share in the global bulletproof security glass market. Increasing demand from the automobile segment is mainly contributing to its growth. Various bulletproof cars launched by the manufacturers that includes BMW, Ford, Audi and Volkswagen among others is expected to augment the market demand for bulletproof glass in North America region. Increasing investment on research and development by the U.S government followed by growth in financial, infrastructure and healthcare segment is also expected to fuel the market demand during the forecast period. U.S held the largest market share both in terms of value and volume. Mexico is expected to be the fastest growing country in the North America bulletproof security glass market owing to the increased drug consumption followed by high crime rates. Trend also shows that according to the U.S budgets for 2018 and 2019, the defense expenditure of the country has increased from USD 521 Bn in 2017 to USD 639 Bn in 2018 which clearly indicates that the demand for bulletproof security glass is expected to rise during the forecast period. In addition, increasing number of armed robberies in the U.S is also proportional to the growth of bulletproof security glass market thereby augmenting the market growth. Europe followed North America in the global bulletproof security glass market owing to the increase in defense spending followed by increasing terror strikes and rising political and civil unrest. Asia pacific is also expected to grow at a significant rate owing to growing security concerns of various financial institutions as these are growing at a rapid rate in Asia Pacific region.
Product Innovation Followed by Mergers and Acquisitions are the Key Strategies Adopted by the manufacturers
Key notable players operating in the global bulletproof security glass market includes Asahi Glass Co., Ltd., Saint-Gobain S.A., Taiwan Glass Ind. Corp, American Glass Products, Schott AG, Consolidated Glass Holdings, Inc., China Specialty Glass AG, Nippon Sheet Glass Co., Ltd, Guangdong Golden Glass Technologies Limited, Guardian Glass and Total Security Solutions among others. Product innovation is the key strategy adopted by the bulletproof security glass manufacturers. For example, in June 2018, Saint-Gobain provided bullet proof security glass for the perimeter of Eiffel Tower as it has been under close surveillance since terrorist attack in November 2015.The glass is 2.56 inches thick and is fitted with anti-ram raid bollards around the perimeter. Hence the visitors have to go through a bulletproof glass to see the site.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bulletproof Security Glass market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
