Bulletproof Glass Global Market Opportunities and Strategies to 2033

This report describes and explains the bulletproof glass market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global bulletproof glass market reached a value of nearly $6.75 billion in 2023, having grown at a compound annual growth rate (CAGR) of 8.2% since 2018. The market is expected to grow from $6.75 billion in 2023 to $11.63 billion in 2028 at a rate of 11.5%. The market is then expected to grow at a CAGR of 12.2% from 2028 and reach $20.68 billion in 2033.

Growth in the historic period resulted from the growing demand for luxury cars, increase in spending on military equipment and steady expansion of the automotive industry. Factors that negatively affected growth in the historic period were stringent regulatory standards for bulletproof glass.

Going forward, the rising crime rates and security concerns, increasing demand for high rise luxury houses and global population growth and urbanization will drive the market. Factors that could hinder the growth of the bulletproof glass market in the future include high cost associated with production and installation of bulletproof glass.

The bulletproof glass market is segmented by type into solid acrylic, traditional laminated, polycarbonate, glass-clad polycarbonate and other types. The solid acrylic market was the largest segment of the bulletproof glass market segmented by type, accounting for 47.2% or $3.18 billion of the total in 2023. Going forward, the glass-clad polycarbonate segment is expected to be the fastest growing segment in the bulletproof glass market segmented by type, at a CAGR of 13.7% during 2023-2028.

The bulletproof glass market is segmented by security level into security level - 1, security level - 2, security level - 3 and security level - 4 to 8. The security level - 1 market was the largest segment of the bulletproof glass market segmented by security level, accounting for 42.2% or $2.85 billion of the total in 2023. Going forward, the security level - 4 to 8 segment is expected to be the fastest growing segment in the bulletproof glass market segmented by security level, at a CAGR of 13.5% during 2023-2028.

The bulletproof glass market is segmented by application into defense and VIP vehicles, ATM booths and teller stations, cash-in-transit vehicles, commercial buildings, government and law enforcement and other applications. The defense and VIP vehicles market was the largest segment of the bulletproof glass market segmented by application, accounting for 33% or $2.22 billion of the total in 2023. Going forward, the defense and VIP vehicles segment is expected to be the fastest growing segment in the bulletproof glass market segmented by application, at a CAGR of 13.4% during 2023-2028.

The bulletproof glass market is segmented by end use into automotive, military, banking and finance, construction and other end uses. The military market was the largest segment of the bulletproof glass market segmented by end use, accounting for 42.7% or $2.88 billion of the total in 2023. Going forward, the automotive segment is expected to be the fastest growing segment in the bulletproof glass market segmented by end use, at a CAGR of 12.9% during 2023-2028.

North America was the largest region in the bulletproof glass market, accounting for 34.5% or $2.33 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the bulletproof glass market will be Asia-Pacific and North America, where growth will be at CAGRs of 13% and 12.2% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 11.2% and 9.5% respectively.

The global bulletproof glass market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 21% of the total market in 2022. Asahi Glass Co., Ltd (AGC Inc.) was the largest competitor with a 6.9% share of the market, followed by Saint-Gobain S.A. with 5.5%, Guardian Industries with 3.9%, Nippon Sheet Glass Co., Ltd. with 1.7%, CSG Holdings Co., Ltd. with 1.2%, Taiwan Glass Industry Corporation with 0.8%,Centigon Security Group with 0.5%, SCHOTT AG with 0.2%, Binswanger Glass with 0.2% and Armassglass with 0.1%.

The top opportunities in the bulletproof glass market segmented by type will arise in the solid acrylic segment, which will gain $2.47 billion of global annual sales by 2028. The top opportunities in the bulletproof glass market segmented by security level will arise in the security level - 1 segment, which will gain $2.14 billion of global annual sales by 2028. The top opportunities in the bulletproof glass market segmented by application will arise in the defense and VIP vehicles segment, which will gain $1.95 billion of global annual sales by 2028. The top opportunities in the bulletproof glass market segmented by end use will arise in the military segment, which will gain $2.16 billion of global annual sales by 2028. The bulletproof glass market size will gain the most in the USA at $1.55 billion.

Market-trend-based strategies for the bulletproof glass market include focus on increasing production of military grade vehicles fitted with military grade security technologies, developing innovative new generations of products, developing materials that are used to manufacture bullet resistance sheets, using a unique polymerization method and focus on strategic partnerships and collaborations and acquisitions of major international manufacturing companies.

Player-adopted strategies in the bulletproof glass market include focus on expanding operational capabilities through new products developments.

To take advantage of the opportunities, the analyst recommends the bulletproof glass companies to focus on expanding security solutions for high-value vehicles, focus on enhancing safety in educational institutions, focus on advancing innovative product offerings, focus on high-growth segments: solid acrylic and glass-clad polycarbonate, focus on rapidly expanding security levels: 4 to 8 and 1, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations and acquisitions for market expansion, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on targeted promotion, focus on high-growth application segments: defense & VIP vehicles and commercial buildings and focus on military and automotive end use segments.