Military Personal Protective Equipment Market, Manufacturers and 2027 Forecast
The global military personal protective equipment market size was USD 16.61 billion in 2019 and is projected to reach USD 25.63 billion by 2027.
The global military personal protective equipment market size is set to gain impetus from the rising development of lightweight body armor by the defense forces of several countries. The U.S. Army, for instance, developed a new system called Torso and Extremity Protection (TEP) that consists of a blast pelvic protection system, a battle belt, a scalable vest, a modular, and a ballistic combat shirt. This information is given by Fortune Business Insights™ in a recently published report, titled, “Military Personal Protective Equipment (PPE) Market Size, Share and Global Trend By Product Type (Advanced Combat Helmet, Life Safety Jacket, Protective Eyewear, Body Armor, Tactical Vest, and Pelvic Protection System), By Application (Ground, Airborne, and Naval), and Regional Forecast, 2020-2027.” The report further states that the global military personal protective equipment market size was USD 16.61 billion in 2019 and is projected to reach USD 25.63 billion by 2027, thereby exhibiting a CAGR of 6.02% during the forecast period.
The outbreak of the COVID-19 pandemic has shattered the global economy. This has resulted in the shutdown of manufacturing processes across a wide range of industries. Owing to the preventive measures implemented by the governments, such as lockdown and stay-at-home initiatives, we will soon be able to come out of this difficult situation. Out team of highly skilled analysts are striving persistently to deliver the best available strategies that you can follow to intensify competition.
Drivers & Restraints-
Urgent Need to Provide Better Safety to Soldiers will Accelerate Growth
The defense forces worldwide are looking forward to offering better standards of combat tactical advantage and safety to the soldiers. Coupled with this, the increasing security threats, such as political unrest, terrorist activities, and cross border conflicts, especially in the Asian countries would contribute to the military PPE market growth during the forthcoming years. Prominent companies present in the market are aiming to develop technologically advanced protective eyewear, combat helmets, and fireproof body armors. However, in 2019, it was observed that several countries lowered their defense budgets. In addition to this, the rising number of malfunction issues associated with these military PPE kits may obstruct the market growth.