Press release
Advanced Protective Gear and Armor Market - Global Industry Analysis, Growth, Trends, Forecast 2019
The Advanced Protective Gear And Armor industry can be segmented into ancillary components, thermal protective gear, armors and bullet resistant equipments, and other chemical and biological materials. Ancillary components include gloves, heads, respirators, etc. which accounts for nearly 60% of the total advanced gear and armor market. The industry is primarily driven by the fight against terrorism, and it is unlikely to halt in the next six years due to the current terrorist and geopolitical events. The demand for advanced gears and armors is increasing due to technological advancement in industrial areas, external and internal security threats, modernization, territorial disputes, and shortage of available gears and armors. The market is moving forward due to the innovations in products and materials, improved safety levels and comfort, and advanced hybrid designs.Some of the factors restraining the growth of this industry are standards and regulations passed by military services and environmental regulatory authorities. The major challenge faced by the industry is the designing of lightweight armors for reducing the burden of soldiers. The supply chain of the industry is very complex as each component of the supply chain plays a vital role in the smooth functioning of the industry. The supply chain includes government for setting standards and regulations, manufacturers, fabricators, distributors and so on. There is a huge growth opportunity in women armor designing and manufacturing as this industry is still in its nascent stage.
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Geographically, North America dominates the market for advanced gear and armor, followed by Europe and the Asia-Pacific market. The global market for advanced gear and armor is fairly consolidated so the growth of small players is declining owing to frequent mergers and acquisitions in the industry. The prominent market participants in the industry are BAE Systems, Armor Source, Ballistic Body Armour, Ceradyne, Defense Industries International, Alliant Techsystems Inc. (ATK), and Mine Safety Appliances Company (MSA).
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