Military Personal Protective Equipment Market will exhibit a CAGR of 6.02% during the forecast period and reach USD 25.63 billion by 2027, and the market value as per 2019 was USD 16.61 billion.
Fortune Business Insights™ in a recently published report, titled, “Military Personal Protective Equipment (PPE) Market Size, Share and Global Trend By Product Type (Advanced Combat Helmet, Life Safety Jacket, Protective Eyewear, Body Armor, Tactical Vest, and Pelvic Protection System), By Application (Ground, Airborne, and Naval), and Regional Forecast, 2020-2027.”
Military Personal Protective Equipment Market Drivers and Restraint :
Urgent Need to Provide Better Safety to Soldiers will Accelerate Growth
The defense forces worldwide are looking forward to offering better standards of combat tactical advantage and safety to the soldiers. Coupled with this, the increasing security threats, such as political unrest, terrorist activities, and cross border conflicts, especially in the Asian countries would contribute to the military PPE market growth during the forthcoming years. Prominent companies present in the market are aiming to develop technologically advanced protective eyewear, combat helmets, and fireproof body armors. However, in 2019, it was observed that several countries lowered their defense budgets. In addition to this, the rising number of malfunction issues associated with these military PPE kits may obstruct the market growth.
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List of Significant Manufacturers Military Personal Protective Equipment Market are:
- 3M (The U.S.)
- ArmorSource LLC (The U.S.)
- BAE Systems (The U.K)
- DuPont (The U.S.)
- Eagle Industries (The U.S.)
- GENTEX CORPORATION (The U.S.)
- Honeywell International Inc. (The U.S.)
- KDH Defense Systems, Inc. (The U.S.)
- MSA Safety Incorporated (The U.S.)
- Point Blank Enterprises Inc. (The U.S.)
- Revision Military (The U.S.)
North America to Remain at the Forefront Fueled by High Defense Expenditure
Geographically, North America procured USD 4.89 billion revenue in 2019 and is expected to lead the market throughout the forecast period. The main growth driver is the high defense budget of the U.S. In 2019, the U.S. Department of Defense (DoD) spent USD 732 billion in the country’s defense forces. That was the highest expenditure worldwide. Also, the rising investments in research and development activities, upgradation of military forces, and the rising procurement of latest equipment by signing contracts are some of the other factors responsible for the growth of the market in this region.