An overview of conceptual frameworks, analytical approaches of the “Bulletproof Glass Market” is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Bulletproof glass market is expected to grow with significant rate in the near future.
The global bulletproof glass market in 2020 is estimated for more than US$ 5.5 Bn and expected to reach a value of US$ 14.7 Bn by 2028 with a significant CAGR of 13.1%.
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Bulletproof Glass Introduction
Bulletproof glass, also known as ballistic glass, bullet resistant glass transparent armor, is a very strong yet optical transparent material that is resistant to being penetrated when struck. Bulletproof glass is a combination of two or more glasses, among which one is hard and one is soft. The function of soft layer is to make the glass more elastic so that it can flex instead of being scattered. It is constructed using a number of layers of laminated glasses. This ensures that the number of players is directly proportional to the protection.
Bulletproof Glass Market Dynamics
Increasing demand for security and safety concerns and growing security needs in various verticals including banking, finance, investigation, education, etc. are the prime factors boosting the growth of this market.
Moreover, the increasing demand for value-added automobile accessories and technically advanced products coupled with the growing numbers of armored cash trucks and display cases in high-end Jewellery and accessories shops is also increasing the demand of bulletproof glasses across the globe.
The bulletproof glass market is expected to increase at a significant CAGR over the forecast period owing to the increasing automotive and commercial applications of ballistic glasses, the militarization of law enforcement agencies in numerous countries and increasing terror attacks.
In addition, the increasing research and development activities for the development of a more advanced version of bulletproof glasses also fuel the growth of this market. However, the fluctuating cost of the raw material may restrict the growth of bulletproof glass market.
However, the decreasing defense budget of developed regions coupled with the strict regulatory guidelines and changes in ballistic glasses proposed by several green councils may hamper the growth of this market.
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Bulletproof Glass Market Segmentation
The bulletproof glass market is segmented on the basis of security levels, application type, end-user, and region.
On the basis of security levels, the bulletproof glass market can be segmented into security level-1, security level-2, security level-3 and security level-4 to 8. On the basis of application, the bulletproof glass market can be segmented into defense & VIP vehicles, ATM booths & teller stations, cash-in-transit vehicles, commercial buildings, government & law enforcement and others. On the basis of the end user, the bulletproof glass market can be segmented into automotive, military, banking & finance, construction and others.
Bulletproof Glass Market Key Players
Bulletproof glass market is mainly dominated by American Glass Products, Asahi Glass Co., Ltd., China Specialty Glass AG, Consolidated Glass Holdings, Inc., Guangdong Golden Glass Technologies Limited, Guardian Glass, Nippon Sheet Co., Ltd., Saint-Gobain S.A., Schott AG, Taiwan Glass Ind. Corp and Total Security Solutions.
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