Military Personal Protective Equipment Market Size & Trends 2024-2033

The Business Research Company recently released a comprehensive report on the Global Military Personal Protective Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The military personal protective equipment market size has grown strongly in recent years. It will grow from $18.29 billion in 2023 to $19.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to geopolitical conflicts, growing military modernization programs, threat perception, global military expenditure, legacy equipment obsolescence.

The military personal protective equipment market size is expected to see strong growth in the next few years. It will grow to $27.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to emerging threats, global political landscape, increased focus on soldier well-being, cybersecurity concerns, environmental considerations. Major trends in the forecast period include sustainability and eco-friendly solutions, global geopolitical influences, chemical, biological, radiological, and nuclear (cbrn) protection, innovations in ballistic protection, customization and modularity, smart technology integration.

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Market Drivers and Trends:

Increasing military expenditure is expected to propel the growth of the military personal protective equipment market going forward. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military will support the development of various aspects of the military market including military personal protection equipment. For instance, in April 2023, according to a report published by the Stockholm International Peace Research Institute, a Sweden-based international institute, global military spending experienced a 3.7 percent real-term increase in 2022, surging to an all-time high of $2,240 billion. Notably, military expenditure in Europe saw a substantial 13 percent growth over the year. The United States, contributing to 39 percent of the world's military spending in 2022, and China, accounting for 13 percent, retained their positions as the top two spenders. Following them were Russia at 3.9 percent, India at 3.6 percent, and Saudi Arabia at 3.3 percent, collectively comprising 63 percent of the total global military expenditure for the year. Therefore, increasing military expenditure is driving the military personal protective equipment market.

The development of innovative military protective equipment is a key trend gaining popularity in the military personal protective equipment market. Research and development activities are being conducted by major players and research organizations for developing innovative military protective equipment. Such innovations enable key players to gain a competitive edge in the market. For instance, in July 2022, Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australia-based government organization announced to work on the development of advanced respiratory protective equipment for the Australian Defense Force (ADF) with an investment of $8.65 million. This includes technology that uses metal-organic material to provide more advanced and effective protection against radiological and nuclear (CBRN) contaminants through the use of a single respiratory unit. It aims to strengthen defense capability by protecting military personnel from biological, chemical, and radiological contamination on the battlefield.

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Major Key Players of the Market:

3M Company; Ansell Limited; Armor Express LLC; Avon Rubber plc; BAE Systems Inc.; Ballistic Body Armor Pty. Ltd.; E. I. du Pont de Nemours and Company; Eagle Industries Unlimited Inc.; Gentex Corporation; Honeywell International Inc.; Koninklijke DSM N.V.; MKU Limited; Point Blank Enterprises Inc.; Revision Military Inc.; Teijin Limited; Alpha Pro Tech Ltd.; Australian Defense Apparel Pty Ltd.; Authorities Gear LLC; COFRA Holding AG; Fortis Clothing Ltd.; KDH Defense Systems Inc.; Lakeland Industries Inc.; MSA Safety Incorporated; National Safety Apparel Inc.; NOVITEX Fashion; Original Buff SA; Original Footwear Company; Radians Inc.; SEYNTEX NV; Sioen Industries NV; TOP-SKIN S.r.l.; W. L. Gore & Associates Inc.

Military Personal Protective Equipment Market 2024 Key Insights:

• The military personal protective equipment market will grow to $27.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• The Impact Of Increasing Military Expenditure On The Military Personal Protective Equipment Market
• Advancements In Military Protective Equipment To Strengthen National Security
• North America was the largest region in the military personal protective equipment market in 2023

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