New Delhi, Oct 20 (KNN) Growing military strength and amplifying defence budget should drive the ballistic protection industry in the country with the bulk requirement of bulletproof vest, boots and helmets but current tender process is delaying the procurement, said a Research Report.

The need for ballistic protection has been growing in India with the rise in threat of domestic and cross-border terrorism.

The report titled “India Ballistic Protection Market Outlook to 2021 - Rising Defence Expenditure and Growing Exports to Shape the Future” was released by Ken Research.

Moreover, there is a constant demand from the armed forces in India, since the country’s borders are shared with China and Pakistan. The market size in for ballistic protection equipment in India has posted a CAGR of 5.4% over the period FY’2011-FY’2016, highlights the report.

In FY’2016, the largest share in the personal ballistic protection market in India was countered by bullet proof vests. This considerable share has been witnessed owing to the fact that vests are the most commonly used form of protection gear.

Ballistic boots has contributed the second largest share in the overall market revenues in FY’2016. These boots are largely used by the military forces. Ballistic boots have been followed by ballistic helmets, which have captured the third largest revenue share in the ballistic protection market during FY’2016.

India’s personal ballistic protection market showcases promising prospects in the future as the market is estimated to grow at a CAGR of 12.5% over the period of FY’2017-FY’2021 in terms of sales volume in units. The government has sanctioned the order of to provide 1.8 lacs bulletproof jackets by the end of 2017. This has been projected to provide a considerable boost over the period FY’2016-2021.

The report highlights that the demand for other ballistic protection equipments such as ballistic helmets, boots, blankets and others will further rise over the period FY’2017-FY’2018. Further support to the market will be provided by fresh FDI inflows into the market and the growing demand of the ballistic protection products from the Indian government.

The report also identifies the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years and is useful for ballistic protection equipment manufacturers, industry consultants other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.