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Global Military Personal Protective Equipment Market: Drivers and Trends Forecast 2016 - 2024
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Global Military Personal Protective Equipment Market: Overview
Military personal protective equipment has become a crucial and standard element of soldier equipment. One of the major factor driving the market is the increasing role of ground troops in different parts of the world such as Iraq, Afghanistan and India among others.
Global Military Personal Protective Equipment Market: Drivers and Trends
One of the major factor driving the market is the increasing role of ground troops in different parts of the world such as Afghanistan, Iran and Iraq among others. As of 2014, there were 8 active military conflicts and 10 official wars known by the United States. In addition, there were also other violent clashes relating 64 countries and 576 separatist and militias groups. In 2016, in wars between Syria and Iraq, Afghanistan, South Sudan, the Lake Chad basin and Yemen helps the military personal protective equipment market to grow at a high CAGR which in turn is expected to boost the market.
Body armor (IBA), improved outer tactical vest (IOTV), advanced combat helmet (ACH), pelvic protection systems (PPS), life safety jacket, military combat eye protection (MCEP) and others sectors are the various product types of the military personal protective equipment market. Among various product types of the military personal protective equipment market body armor (BA) is the held the major market share in 2015 and expected to be the same during the forecast period of 2016 – 2024.
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Global Military Personal Protective Equipment Market: Segmentation
The military personal protective equipment market has been segmented on the basis of application into army, air force, navy and others. Among various application of the military personal protective equipment market army held major market share in 2015 followed by navy and is expected to be remain the same during the forecast period of 2016 – 2024. Several countries are focusing on manufacturing better military personal protective equipment such as lightweight under suits, ballistic inserts, combat helmets and advanced night vision equipment that provide the benefits of enhanced protection and comfort to ground, navy and air forces. In 2015, the market is expected to be dominated by North America followed by Europe and Asia Pacific. In addition, Asia Pacific occupies more than 20% of the global market share, is driven by developing economies such as India, South Korea, Japan and China among others which are performing soldier modernization programs.
Global Military Personal Protective Equipment Market: Regional Outlook
By geography, the military personal protective equipment market is classified into five regions namely North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. In 2015, North America holds the largest market share in the military personal protective equipment followed by Europe, Asia Pacific, Latin America and Middle East & Africa. However, in 2024 Asia Pacific is anticipated to be the largest market for military personal protective equipment market followed by North America. China held the largest share for the military personal protective equipment market in Asia Pacific in 2015. It is also expected to experience healthy growth in the coming years. Growing research and development activities started by different research organizations acts as a driving factor of the market. In addition, growing concerns over the safety and protection of the forces is expected to propel the growth of the market.
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Key Players Mentioned in this Report are:
Key players profiled in this report include 3M Ceradyne (United States), ArmorWorks (United States), Eagle Industries Unlimited Inc (United States), BAE Systems (United Kingdom), DSM Dyneema (United States),Armorsource (United States), Du Pont (United States), Honeywell Advanced Fibres and Composites (United States), Revision Military Inc. (United States) and GentexCorporatio Corporation (United States) among others.
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