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Bulletproof Security Glass Market |
Market Definition:
Bulletproof glass, also known as ballistic resistant glass, is composed of transparent materials that can withstand bullet damage.
Layers of laminated glass are commonly used to make Bulletproof Security Glass Market.
The military, automobile, construction, and banking, and finance industries all utilize these glasses extensively.
As a result of the increased number of terrorist acts, governments around the world are installing bullet-proof glass to improve public safety.
In terms of revenue, the global bulletproof security glass market was worth US$ 3,711.8 million in 2020, and it is expected to rise at a CAGR of 8.9% over the forecast period.
Opportunities in the Market
The growing use of the Bulletproof Security Glass Market in the aerospace and maritime industries, which work in high-pressure environments and require glass that is both shatter-resistant and able to sustain high pressure, is likely to provide a profitable growth opportunity.
Furthermore, it may be molded into a complex structure while maintaining the materials' quality and strength.
As a result of its superior properties, increasing use of bullet-proof glass in the aerospace and marine industries is likely to drive market expansion.
Increased Bulletproof Security Glass Market installation in convenience stores is projected to create opportunities.
This is because it frequently remains open for extended periods.
The Financial Services Industry, with roughly 45.99 percent of market share in terms of revenue in 2021, leads the global bulletproof security glass market, followed by Automotive Industry and Construction Industry, respectively.
Between 2021 and 2028, the Financial Services Industry market is predicted to develop at a CAGR of 9.10 percent, with a market value of US$ 1707.1 Mn.
The Impact of the Coronavirus (Covid-19) Pandemic on the Global Bulletproof Security Glass Market
The end-user market's growth is directly linked to the growth of the Bulletproof Security Glass Market.
The expansion of the bullet-resistant glass market is fueled by demand for products from the automobile industry, particularly premium vehicles with value-added features.
COVID-19 has hurt the global vehicle industry, reducing demand for bullet-resistant glass globally.
The unexpected halt in the supply chain, as well as production plants in the automobile industry, has resulted in a drop in demand for bulletproof products.
The majority of bulletproof glass is utilized in construction.
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