In a recent published report, Kenneth Research has updated the market report for Military Personal Protective Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Military Personal Protective Equipment Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Military Personal Protective Equipment Market is estimated to reach $24.5 billion by 2024 with CAGR of 6.5% between 2016 and 2024. Several military conflicts and terrorist activities have highlighted the importance of personal protective equipment for dealing with events involving chemical, biological, and nuclear agents. Military personal protective equipment provide protection from serious injuries caused from interaction with physical, chemical, radiological, electrical, mechanical or any bio-hazards matter. Various companies are continuously working to provide precise personal protective wears. Numerous personal protective equipment designed for safety include hand & foot protection, eye protection, face protection, and head protection, among others.
Driving factors such as growing awareness about safety & security of military personals, initiative by government in procurement of personal protective wears, high conflicts at borders among various countries and rising threat of terrorism expected to increase the growth of the military personal protective equipment market. Though, high cost incurred for the wellbeing and for security procedures may hamper the growth of the market. Additionally, technological advancements, light weight body armor and personal protective equipment for female military personals due to increasing number of females joining the armed forces would provide opportunity for the growth in the upcoming years.
The military personal protective equipment market has been segmented based on the product, application and geography. Product segment includes 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.
Key market players include BAE Systems, 3M Ceradyne, Honeywell Advanced Fibres and Composites, Cigweld Pty Ltd., Gateway Safety, Inc., Lindstrom Group, Uvex Safety Group, DuPont, Eagle Industries Unlimited Inc., and Revision Military Inc.
The key takeaways from the report
The report will provide detailed analysis of Military Personal Protective Equipment Market with respect to major segments such as product and application of the market.
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Military Personal Protective Equipment market will be included in the report
Profile of key players of the Military Personal Protective Equipment market, which include key financials, product & services, new developments, and business strategies
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Scope of Military Personal Protective Equipment Market
Product Segments
Advanced Combat Helmet (ACH)
Pelvic Protection Systems (PPS)
Life Safety Jacket
Body Armor (BA)
Improved Outer Tactical Vest (IOTV)
Military Combat Eye Protection (MCEP)
Other Products
Application Segments
Army
Air Force
Navy
Other Applications
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Germany
Italy
France
Others
Asia-Pacific
India
China
Japan
Others
RoW
South America
Middle East
Africa
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