Industry Outlook
The bulletproof Security Glass Market is expected to reach US$ 11.36 billion by 2026, with an 11.3% CAGR during the forecast period from 2018 to 2026. In 2017, North America led the bulletproof security glass market and was 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 a polyvinyl butyral layer that aims to hold the glass pieces together when shattered.
These materials are generally laminated in layers that give the appearance of standard glass, thereby protecting the glass from bullet impact. Bulletproof glass is an important component of various security systems that basically aim to encounter various violent assaults that include ATM booths, robberies, banks, display cases, cash trucks, and premium vehicles, among others, which require 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 the 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.
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Growing demand for bulletproof glass from the transportation and automotive sectors, the 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. The trend shows that the need to provide maximum security and safety for financial institutions owing to the increase in their number has improved the prospects for bulletproof security glasses as they require high-end security.
In addition, growing infrastructural development in developing countries, which include China and India, is also propelling the growth of this market during the forecast period. Growing demand for bulletproof glasses in the 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 for schools, financial services, vehicles, and other crime-prone locations. For example, in January 2018, Tesla launched the Model S P100D, an electric car that is fitted with bulletproof security glass and an armored roof made of Armormax material.
However, regions across the globe have introduced various laws that prohibit 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 sell alcohol and food. The bill was passed with the objective of removing bulletproof security glasses from the windows of various local businesses owing to the illegal supply of liquor, followed by the illegitimate functioning of restaurants as bars. In addition, owing to insufficient research and development investment, manufacturers in developing regions do not meet international quality standards, which in turn affects export activities, thereby hampering the growth of this market during the forecast period from 2018 to 2026. Increasing defense expenditures in developing economies, followed by an increase in research and development activities for developing advanced bulletproof security glasses, serves as an opportunity for the global bulletproof security glass market.
Market Synopsis, Value (US$ Bn)
Automotive Segment propelling the growth of Bulletproof Security Glass Market
By end-user, the 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 2018 to 2026. Trends show 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 aim 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, comfort, appearance, and dimension and also aims to maintain tight blending tolerances, thereby optimizing the bullet-resistant capacity of its glasses meant for the automotive Segment. The military segment is expected to grow at the 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 civilians and cash-in-transit vehicles. Trends show that researchers and manufacturers are focusing on developing new technology that can be used to make bulletproof security glasses for military applications. For example, in June 2017, researchers from Tomsk Polytechnic University focused on developing a transparent ceramics production technology (TPU) that is 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 their ballistic strength. All these factors are expected to drive the automotive and military segments in the global bulletproof security glass market during the forecast period.
Defense and VIP vehicles were identified as the dominant application segment in 2017.
The defense and VIP vehicles segment includes vehicles used by embassies, for the transportation of personnel, as VVIP vehicles, combat vehicles, premier vehicles, by governments, and others for protection from blast attacks. A 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 compartments of defense and VIP vehicles are made up of high-quality materials such as multi-laminated glass, heat-resistant armor steel, and aramid fabric. It aims to provide protection to vehicles from all sides, thereby preventing them from a bullet, bomb, or grenade attacks. Some defense and VIP vehicles are designed in such a way that they provide a secret exit path from the vehicle, which in turn helps the VIPs escape unharmed. Hence, defense and VIP vehicles are armored with bulletproof glass and a 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 manufacturers, which include BMW, Ford, Audi, and Volkswagen, among others, are expected to augment the market demand for bulletproof glass in the North American region. Increasing investment in research and development by the U.S. government, followed by growth in the financial, infrastructure, and healthcare segments, is also expected to fuel market demand during the forecast period. The 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 American bulletproof security glass market owing to the increased drug consumption followed by high crime rates.
The 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 billion in 2017 to USD 639 billion in 2018, which clearly indicates that the demand for bulletproof security glass is expected to rise during the forecast period. In addition, the increasing number of armed robberies in the U.S. is also proportional to the growth of the 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 the growing security concerns of various financial institutions, which are growing at a rapid rate in the 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 include Asahi Glass Co., Ltd., Saint-Gobain S.A., and 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 manufacturers of bulletproof security glasses. For example, in June 2018, Saint-Gobain provided bulletproof security glass for the perimeter of the Eiffel Tower, as it has been under close surveillance since the terrorist attack in November 2015. The glass is 2.56 inches thick and is fitted with anti-ram raid bollards around the perimeter. Hence, visitors have to go through the bulletproof glass to see the site.
Historical and Forecast Period
This research considers 2017 as the base year and presents an analysis of segments from 2016 to 2026. In addition, the forecast period from 2018 to 2026 is considered for the compound annual growth rate (CAGR) calculation for each respective Segment.
Report Scope by Segments
The bulletproof Security Glass Market Report represents an understanding of the current market dynamics and strategies. It also focuses on a quantitative and qualitative analysis of the overall market. The report covers the global bulletproof security glass market by categorizing it in terms of end-user, application, and geography. Publishing this broad research report aims to aid the bulletproof security glass market stakeholders and professionals in making strategic initiatives and decisions in the bulletproof security glass market.
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Key questions answered in this report
- Who are the distributors, traders, and dealers of bulletproof security glass?
- What are expected to be the largest end-user and application segments in the market during the forecast period from 2018 to 2026?
- What are the fastest-growing segments in the market for the forecast period?
- What are the current market trends in the bulletproof security glass market, and what are the valuable opportunities for the players?
- How does the regulatory framework affect global as well as regional markets?
- Which are the key players operating in the global market, and what are the strategies they have adopted?
- What are the sales, revenue, business strategy, and product portfolio of the top manufacturers in the bulletproof security glass market?
- What are the market size and trend in emerging and developed markets?
