Latest news with #militaryexpenditure
Yahoo
14 hours ago
- Business
- Yahoo
With 5.9%, Ballistic Protection Market to reach USD 23.69 billion by 2031 Experiences Growth in Business Aviation Sector
NEW YORK, July 30, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global ballistic protection market is observing healthy growth owing to the demand from rising global military expenditure across different regions. The ballistic protection market is expected to reach USD 16.27 billion in 2024 and reach USD 23.69 billion by 2031; it is estimated to record a CAGR of 5.9% from 2025 to 2031. Geopolitical tensions and rising defense budgets remain the main factors in ballistic protection market demand. Nations prioritize the modernization of their armed forces, investing heavily in advanced protective systems for personnel, vehicles, and infrastructure. This trend is particularly pronounced in North America, which leads the largest market share due to its high defense spending, technological leadership, and ongoing military engagements. Simultaneously, Asia Pacific is emerging as the fastest-growing region, driven by increased military expenditures in China, India, and Southeast Asia and heightened security concerns stemming from regional disputes and terrorism. The report runs an in-depth analysis of market trends, key players, and future opportunities. Rising geopolitical tensions, increased defense budgets, and a growing demand for advanced, lightweight protective solutions across military, law enforcement, and civilian sectors drive the growth. Check valuable insights in this report. You can easily get a sample PDF of the ballistic protection market report - Overview of Ballistic Protection Market Report Findings Growing Demand from Law Enforcement and Homeland Security: Heightened concerns over terrorism, violent crimes, and civil unrest are compelling law enforcement agencies and homeland security departments to prioritize the acquisition of advanced ballistic protection. Police forces, special operations units, and border security agencies are increasingly equipping personnel with state-of-the-art ballistic vests, helmets, shields, and armored vehicles. The need to safeguard critical infrastructure and respond effectively to active shooter incidents or terrorist attacks has led to increased government funding for public safety security agencies also invest in protective solutions for border patrols and critical asset protection. This trend is especially pronounced in North America and Europe, where public safety remains a top priority. The ongoing threat landscape ensures that demand for ballistic protection in law enforcement and homeland security will remain robust, supporting sustained market expansion. Increasing Military Expenditure Worldwide: The growing military expenditure across different countries is another major factor pushing the market growth and is likely to generate new opportunities for market vendors in the coming years. For instance, below are mentioned the military spending of top 5 military spending countries worldwide: (USD Million) 2021 2022 2023 2024 United States 806,230.2 860,692.2 916,014.7 9,68,381.6 China 285,930.5 291,958.4 296,438.6 3,17,561.0 Russia 65,907.7 102,366.6 109,454.4 1,50,534.0 India 76,348.5 79,976.8 83,574.6 83,623.1 Saudi Arabia 63,194.7 70,920.0 75,813.3 78,953.6 Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period. Stay Updated on Ballistic Protection Market Trends: Ballistic Protection Market Segmentation Based on product type, the ballistic protection market is segmented into personal protection equipment, cockpit ballistic protection, ballistic door, ballistic floors, engine protection, hull and body, and others. The personal protection equipment segment held the largest market share in 2024. The market is segmented by material type into bulletproof glass, composites, ceramics, metals and alloys, fabric, and others. The composites segment held a larger share of the market in 2024. The market is segmented by application into homeland security, military, and commercial. The military segment held a larger share of the market in 2024. By platform, the market is segmented into airborne, marine, and land. The land segment held a larger share of the market in 2024. By technology, the market is segmented into soft armor and hard armor. The hard armor segment held a larger share of the market in 2024. Competitive Strategy and Development Key Players: A few of the major companies operating in the ballistic protection market are BAE Systems; Honeywell International Inc; DuPont de Nemours, Inc.; Rheinmetall AG; Saab AB; Point Blank Enterprises, Inc.; Avon Protection plc; TenCate Advanced Armor; Teijin Limited; Morgan Advanced Materials plc; 3M Company; Gentex Corporation; Survitec Group Limited; and ArmorWorks Enterprises, LLC among others. Trending Topics: Body armor market, Ballistic vests, Lightweight bulletproof vest, Tactical plate carrier, Ballistic helmets, Ballistic shields, Vehicle ballistic protection, Armored vehicle protection systems, Ballistic panels, etc. Global Headlines on Ballistic Protection Market DuPont de Nemours, Inc. launched Kevlar EXO, a next-generation aramid fiber that offers enhanced protection, lightness, and flexibility. Iten Defense LLC, a U.S.-based advanced composite armor manufacturer, acquired Transparent Armor Solutions. Craig International Ballistics, an Australian company, secured a multimillion-dollar contract to provide ballistic protection for the first three of Australia's Hunter-class frigates. Get Premium Copy of Size and Growth Ballistic Protection Market Report by 2031 at: Conclusion The global ballistic protection market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America accounted for the largest market share in 2024. Personal protection equipment, including body armor, helmets, and shields, remains dominant, reflecting widespread adoption among military and law enforcement agencies. However, vehicle protection equipment is the fastest-growing segment, propelled by increased procurement of armored vehicles and the need to safeguard personnel against improvised explosive devices (IEDs), anti-tank weaponry, and ballistic threats. Among materials, composites and aramid fibers are most prevalent, while advanced ceramics and composites register the highest growth rates due to their superior strength-to-weight ratios and multi-hit capabilities. Military applications continue to account for the largest market share. Still, homeland security and civilian/commercial uses are expanding rapidly, fueled by rising concerns over terrorism, violent crime, and personal safety. Industry leaders such as BAE Systems, Honeywell, DuPont, Rheinmetall, and Saab maintain their positions through strategic partnerships, continuous R&D, and a focus on integrated solutions. At the same time, smaller, agile firms are carving out niches with rapid prototyping, customer-centric design, and collaborations with academic institutions to explore next-generation materials. Trending Related Reports: Intercontinental Ballistic Missile Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights Ballistic Composites Market Size, Analysis, Players – 2031 Aircraft MRO Market Forecast 2025–2031 | Growth Insights Military Vehicle Market Overview by 2031 Airborne Surveillance Market Key Findings and Share by 2031 Port Security Market Key Findings and Share by 2031 Air Gun Market Dynamics and Analysis by 2031 Smoke Grenade Market Trends and Top Players by 2031 About Us: The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients get solutions to their research requirements through our syndicated and consulting research services. We specialize in semiconductor and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare IT, manufacturing and construction, medical devices, technology, media and telecommunications, and chemicals and materials. Contact Us: If you have any queries about this report or if you would like further information, please get in touch with us:Contact Person: Ankit Mathur E-mail: +1-646-491-9876 Logo: View original content: SOURCE The Insight Partners Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
27-06-2025
- Business
- Reuters
Putin says Russia plans to cut military spending from next year
MOSCOW, June 27 (Reuters) - President Vladimir Putin said on Friday that Russia was looking to cut its military expenditure from next year, contrasting that with NATO's plan to ramp up defence spending over the next decade. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product in the next 10 years, citing what they called the long-term threat posed by Russia and the need to strengthen civil and military resilience. In his first reaction to that move, Putin told a press conference in Minsk that the NATO spending would go on "purchases from the USA and on supporting their military-industrial complex", and this was NATO's business, not Russia's. "But now here is the most important thing. We are planning to reduce defence spending. For us, next year and the year after, over the next three-year period, we are planning for this," he said. Putin said there was no final agreement yet between the defence, finance and economy ministries, "but overall, everyone is thinking in this direction. And Europe is thinking about how to increase its spending, on the contrary. So who is preparing for some kind of aggressive actions? Us or them?" Putin's comments are likely to be greeted with extreme scepticism in the West, given that Russia has massively increased defence spending since the start of the Ukraine war. The conflict shows no sign of ending and has actually intensified in recent weeks, as negotiations have made no visible progress towards a ceasefire or a permanent settlement. Putin said Russia appreciated efforts by U.S. President Donald Trump to bring an end to the war. "He recently stated that it turned out to be more difficult than it seemed from the outside. Well, that's true," Putin said. Trump said this week that he believed Putin wanted to find a way to settle the conflict, but Ukraine and many of its European allies believe the Kremlin leader has no real interest in a peace deal and is intent on capturing more territory. Putin said Russian and Ukrainian negotiators were in constant contact, and Moscow was ready to return the bodies of 3,000 more Ukrainian soldiers. Russia is seeing a sharp slowdown in economic growth as the budget comes under pressure from falling energy revenues and the central bank is trying to bring down inflation. Russia hiked state spending on national defence by a quarter in 2025 to 6.3% of gross domestic product (GDP), the highest level since the Cold War. Defence spending accounts for 32% of total 2025 federal budget expenditure. Defence plants have been working round-the-clock for the past several years, and the state has spent heavily on bonuses to attract soldiers to sign up and on compensation for the families of those who are killed. Putin acknowledged that Russia had paid for the military spending increase with higher inflation. The finance ministry raised the 2025 budget deficit estimate to 1.7% of gross domestic product in April from 0.5% after reducing its energy revenues forecast by 24%, and it plans to tap into fiscal reserves this year to balance the budget. The next draft budget is due to appear in the autumn.
Free Malaysia Today
23-06-2025
- Business
- Free Malaysia Today
Putin warns no Russia recession ‘under any circumstances'
Vladimir Putin speaks at a plenary session of the St Petersburg International Econimic Forum in St Petersburg. (AP pic) ST PETERSBURG : President Vladimir Putin on Friday urged officials not to let Russia fall into recession 'under any circumstances', as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years in the first quarter of 2025. The Kremlin has said this is to be expected after two years of rapid expansion as it ramped up military expenditure to fund the Ukraine campaign, but officials including the country's economy minister have warned of pain ahead. 'Some specialists and experts are pointing to the risks of stagnation and even a recession,' Putin told attendees in an address at Russia's flagship economic forum in Saint Petersburg. 'This must not be allowed to happen under any circumstances.' 'We need to pursue a competent, well-thought-out budgetary, tax and monetary policy,' he added. Moscow's economy grew in 2023 and 2024, despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But economists have long warned that heavy public investment in the defence industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity.
Asharq Al-Awsat
21-06-2025
- Business
- Asharq Al-Awsat
Putin Says Recession in Russia 'Must Not Be Allowed to Happen'
President Vladimir Putin on Friday urged officials not to let Russia fall into recession "under any circumstances", as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years for the first quarter of 2025, reported AFP. The Kremlin has said this was to be expected after two years of rapid growth as it ramped up military expenditure to fund the Ukraine campaign, but officials including the country's economy minister have raised alarm about possible pain ahead. "Some specialists and experts are pointing to the risks of stagnation and even a recession," Putin told attendees at Russia's flagship economic forum in Saint Petersburg. "This must not be allowed to happen under any circumstances," he said. "We need to pursue a competent, well-thought-out budgetary, tax and monetary policy," he added. The Russian economy grew in 2023 and 2024 despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But analysts have long warned that heavy public investment in the defense industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity. At his address to the forum on Friday, Putin was upbeat about Russia's economic prospects and denied the economy was being driven solely by the defense and energy industries. "Yes, of course, the defense industry played its part in this regard, but so did the financial and IT industries," he said. He said the economy needed "balanced growth" and called on officials to keep a "close eye on all indicators of the health of our industries, companies and even individual enterprises."
CNA
20-06-2025
- Business
- CNA
Putin warns no Russia recession 'under any circumstances'
SAINT PETERSBURG: President Vladimir Putin on Friday (Jun 20) urged officials not to let Russia fall into recession "under any circumstances", as some in his own government warned of a hit to economic growth. Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years in the first quarter of 2025. The Kremlin has said this is to be expected after two years of rapid expansion as it ramped up military expenditure to fund the Ukraine campaign, but officials, including the country's economy minister, have warned of pain ahead. "Some specialists and experts are pointing to the risks of stagnation and even a recession," Putin told attendees in an address at Russia's flagship economic forum in Saint Petersburg. "This must not be allowed to happen under any circumstances." "We need to pursue a competent, well-thought-out budgetary, tax and monetary policy," he added. Moscow's economy grew in 2023 and 2024, despite the West's sweeping sanctions, with massive state spending on the military powering a robust expansion. But economists have long warned that heavy public investment in the defence industry is no longer enough to keep Russia's economy growing and does not reflect a real increase in productivity.
