Global Military Personal Protective Equipment Market is Estimated to Reach $25 Billion by 2024, Says Accurize Market Research
Global military personal protective equipment market report published by Accurize Market Research forecast that the global market is expected to reach $25 billion by 2024; growing at a CAGR of 6.4% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing awareness about safety and security of military personals to drive the growth of the market
Increasing awareness about safety and security of military personals along with initiative by government in procurement of personal protective wearsfuels the demand for the global military personal protective equipment market. Moreover,high battles at borders among various countries and increasing threat of terrorism also boosts the growth of the market.
Market Segmentation
The global military personal protective equipment market has been bifurcated on the basis of product, application and geography. By product type, it is further segmented into advanced combat helmet (ACH), pelvic protection systems (PPS), life safety jacket, body armor (BA), improved outer tactical vest (IOTV), military combat eye protection (MCEP) and others. Furthermore, applications are segmented into army, air force, navy and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico covered under North America wherein Europe covers U.K., Germany, Italy, France and others. Asia-Pacific covers India, China, Japan and others. Rest of the World (RoW) covers South America, Middle East and Africa.
“Body armor and advanced combat helmet accounted for the largest market share in the product type segment", says Accurize
By product type segment, body armor (BA) and advanced combat helmet accounted for maximum share in 2017. Asia Pacific is the fastest growing region in the worldwide military personal protective equipment market, and is expected to continue this trend due to battles among countries such as India and Pakistan and growing terrorist activities.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted the highest revenue in the global military personal protective equipment market share. Also, Asia-Pacific is likely to attain the fastest CAGR during the forecast period.
Top players in the market
The key market players include Lindstrom Group, Uvex Safety Group, DuPont, Eagle Industries Unlimited Inc., Cigweld Pty Ltd., Gateway Safety, Inc., BAE Systems, 3M Ceradyne, Honeywell Advanced Fibres and Composites, and Revision Military Inc. among others.
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