Coronavirus Outbreak Proves to be a Stumbling Block for the Body Armor Market
Posted On October 17, 2020
With a plethora of technologies around the corner, new test measures are being reviewed or written, and newfangled products launched for body armor systems and materials. The shielding function of body armor against most pistol fire, submachine gun, and rifles continue to provide tailwinds to the Global Body Armor Market growth. Since the last decade, the body armor market's leading players have been expanding their investment in product renovation to ensure far secured systems, enhance elasticity, and deliver improved competencies while inflicting less weight on the customers. Increasing demand for a wide range of armored vehicles and personal shielding equipment in line with an intense global focus on advanced battlefield effectiveness and counterterrorism meaningfully contributes to the upswing of the body armor market.
How is the Body Armor Market Supposed to be Affected by the Coronavirus Outbreak
Because of the current scenario of coronavirus outbreak, multiple markets linked to the defence industry are expected to face grave downturns, and apparently, the body armor market is no exception to that. While there is enough time to deduce whether the body armor market will face a sales slump, be flat, or have no effect of the pandemic, stakeholders must examine the primary impact points and their possibility to affect bottom lines, supply chain, and production.
The regional or local body armor markets influenced the outbreak, as well as the stakeholders relying on the supply chain established in affected countries such as India, China, and the U.S., will be the immediate sufferers of the pandemic. Adding on to that, several governments are focused on reducing defense spendings while targeting on diversification of healthcare facilities. As a result, an impediment in the growth of the body armor market is bound to happen by this. While transformations have been forthcoming among the leading market players, commercialization of body armor is represented by evaluation and extensive testing. However, the present scenario does not portend well with such development practices.
While forecast statistics and traditional assumptions of the body armor market exhibited irrelevant due to the turmoil of the current outbreak, leading players must concentrate on the future perspective of the market.