Market Overview:
The Military Personal Protective Equipment Market is anticipated to reach USD 36.57 Billion by 2030 at 9.32% CAGR during the forecast period 2023-2030. The introduction of military protective equipment can enhance the soldiers' performance manifold and reduce the scope of injuries.
Owing to this, the defense authorities such as the US Department of Defense, the UK Ministry of Defence, as well as the defense authorities of other countries, extensively invest in developing such equipment for their warfighters, in the modern network-centric battlefield. Due to the increasing border threats, regional conflicts, and terrorist attacks, it is expected that the global market for the military protective equipment would grow substantially, during the forecast period.
Market Segmentation:
The global Key Military Personal Protective Equipment Market Players has been segmented based on product type, application, platform, and region.
On the basis of product type, the Military Personal Protective Equipment Market is divided into life safety jacket, helmet, protective eyewear, body armor, pelvic protection system, tactical vest, and others. In 2017, the body armor product type segment dominated the global market and it is expected that the protective eyewear product type segment would register the fastest market growth, during the forecast period. The usage of body armor helps reduce the soldier injuries considerably. As a result, the defense authorities across the globe are engaging in the development of advanced protective military suits and body armor.
On the basis of application, the military personal protective equipment market is divided into combat, training, and emergency preparedness. In 2017, the combat application segment dominated the global market and it is projected that the training application segment would register the fastest market growth, during the forecast period. In the recent years, a higher emphasis is being put on the live training and simulation of the soldiers. As a result, there are a large number of military protective equipment that are being used for the military training services, specifically.
On the basis of platform, the military personal protective equipment market is divided into airborne, naval, ground-based. In 2017, the ground-based platform segment dominated the global market and it is estimated that the airborne platform segment would witness the fastest market growth, during the forecast period. In the recent years, mainly due to the increase in number of regional and cross-border threats, there has been a large demand for the military protective equipment by the ground-based forces, which fuel the market growth.
On the basis of region, the global Military Personal Protective Equipment Market is segmented into North America, Europe, Asia-Pacific, Middle East Africa, and Latin America. In 2017, North America dominated the global market, primarily due to the extensive military expenditure and technological advancements, which resulted in a very high demand for military personal protective equipment. Concurrently, there have been a large number of security issues in the other regions such as Asia-Pacific, Europe, Latin America, and Middle East Africa. As a result, the defense authorities of the regions had high military expenses in the recent years, which would fuel the rapid growth of the global market.
Key Players
The key players in the global military personal protective equipment market are Honeywell Advanced Fibres and Composites (US), BAE Systems (UK), 3M Ceradyne (US), Revision Military Inc. (US), Gentex Corporation (US), ArmorWorks (US), DuPont (US), Eagle Industries Unlimited Inc. (US), Armorsource (US), Lindstrom Group (Finland), and Cigweld Pty Ltd (US).
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