Advanced Protective Gear and Armor Market Business Report: Features of Investment Opportunities, Market Share & Future Trends To 2030

According to a recent report published by Allied Market Research, titled, "Advanced Protective Gear and Armor Market by End-use Industry, User, and Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

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Various nations across the globe are providing advanced protective gear and armor to frontline workers to ensure their safety and improve the efficiency of their operations. Advanced protective gears are made from lighter and tougher materials, and improve the comfort and safety of individuals working in risk-prone environments.

In March 2019, Odisha's (Indian state) fire service decided to procure enough quantity of fire entry suits to allow firemen to walk into the blaze and perform rescue operations. Similarly, in July 2020, the Naval Sea Systems Command's (NAVSEA) gave TenCate a N61331-20-D-0011 contract as an ID/IQ (Indefinite Delivery/Indefinite Quantity) to deliver maritime buoyant body armor (MBP), both in side and torso configurations.

The oil and gas segment held the lion's share

By end-use industry, the oil and gas segment held the largest share in 2020, accounting for nearly one-fourth of the market, due to high demand for advanced protective gear in the oil & gas industry. However, the healthcare segment is expected to showcase the highest CAGR of 9.0% during the forecast period, owing to surge in demand for protective equipment in the healthcare sector across the globe.

The chemical or biological segment to portray the highest CAGR through 2030

By type, the chemical or biological segment is projected to register the highest CAGR of 8.0% during the forecast period. Moreover, the segment dominated the market in terms of revenue, contributing to around two-fifths of the total market share in 2020, due to high chances of exposure to harmful chemical or biological substances. The report includes analysis on other segments such as thermal, ballistic, and other.

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Asia-Pacific, followed by North America, held the largest share

By region, the market across Asia-Pacific, followed by North America, held the lion's share in 2020, contributing to around one-third of the market. Moreover, the region is anticipated to showcase the highest CAGR of 9.1% from 2021 to 2030, due to rise in investments to ensure high safety of the industrial workforce across several countries in the region.

Increasing terrorist activities and warfare situations around the globe and stringent laws & regulations regarding work environment safety are expected to drive the advanced protective gear and armor market during the forecast period. However, the supply of poor quality, low-cost products and low safety compliance in the construction industry are anticipated to hamper the growth of the market. Moreover, rise in military expenditure to acquire body armor and technological advancements in protective gear and armor products are expected to offer lucrative opportunities in future.

Major market players

ArmorSource LLC
BAE Systems plc
Avon Rubber P.L.C.
DuPont De Nemours, Inc.
Bolle Safety Standard Issue
Honeywell International Inc.
Galls, LLC
Northrop Grumman Corporation
MSA Safety Incorporated
Point Black Enterprises Inc.

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