With the rise in crime rates and terror attacks in the world over the past few years, the concern for the safety and security of the people have also increased. This rising concern for security of people has led to the expansion and growth of bulletproof glass market across the globe. It is anticipated that the global bulletproof glass market will flourish at a CAGR of around 10.35% and would cross USD 4000 Million by 2021. Following the same trend, the North America bulletproof glass market is estimated to expand at a CAGR of 12.96%.
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In North America, the U.S. dominated the in 2015 followed by Canada and Mexico at USD 136.98 Million. However, Mexico is believed to grow with the highest CAGR of 13.96% during the forecast period followed by the U.S. with 13.21%. Factors like expansion in automobile sector, rising concerns for safety and security in financial and healthcare services etc. are pushing North America bulletproof glass to experience a steep growth in coming years.
In the other hand, rising cost of the polycarbonates in the international market and high installation cost associated with the bulletproof glasses are some of the challenges faced by the bullet proof glass market in North America.
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With the burgeoned acceptance of bullet proof glass in various sectors in North America, more opportunities for the bulletproof glass players is expected to arise in the future. Aviation sector is one such sector which will fuel the bulletproof glass market in the future. Currently, bulletproof glasses are installed in the cockpit doors to prevent the pilots from any unforeseen attacks. But with the increased threats of attack in aviation sector, the use of bullet resistant glass is expected to go up making the bulletproof glass market to surge in the future.
Corning Inc., Schott Glass, RHI AG, Guardian Industries, Apogee Enterprises, and PPG Industries are some of the key players of the North America bulletproof glass industry.
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