The Military Personal Protective Equipment Market Research study 2021-2027 enhances the decision making capabilities and helps to create potent counter strategies to obtain competitive advantage says a latest research report at The Insight Partners. The Military Personal Protective Equipment Market […]
The Military Personal Protective Equipment Market Research study 2021-2027 enhances the decision making capabilities and helps to create potent counter strategies to obtain competitive advantage says a latest research report at The Insight Partners. The Military Personal Protective Equipment Market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status.
The military personal protective equipment market was valued at US$ 12,013.98 million in 2019 and is expected to grow at a CAGR of 7.6% during the forecast period to reach US$ 20,804.39 million by 2027.
The changing environment of modern warfare influences the governments across the world to invest a significant amount on military forces. Higher military budget allocation empowers the military troops to focus on developing robust indigenous technologies, rugged devices, and various other technologies from international manufacturers for the protection of their soldiers. At present, the soldier modernization practices are peaking among most military forces to keep the military personnel mission-ready. Thus, to modernize soldiers, the defense ministries worldwide are investing substantial amounts in newer technologies, such as military personal protective equipment. As per the Stockholm International Peace Research Institute (SIPRI), the global military expenditure rose to US$ 1,917 billion in 2019, representing an increase of 3.6% from 2018. In 2019, the top five spenders across the world the US, China, India, Russia, and Saudi Arabia accounted for about 62% of military expenditure.
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Major vendors covered in this report:
Ansell Ltd., Avon Protection Systems, Inc., Bae Systems PLC, Ceradyne (3M), Deenside Ltd., DuPont DE Nemours, Inc. , Honeywell International Inc., KDH Defense Systems, Inc., MKU Limited, US Armor Corporation
The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2021–2027? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Military Personal Protective Equipment market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Military Personal Protective Equipment market?
- What are the prominent market trends influencing the development of the Military Personal Protective Equipment market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Military Personal Protective Equipment market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The modern combat leads to several confronts of complex battlefield scenarios; thus, soldiers face a wide variety of threats, such as improvised explosive device and rocket-propelled grenades. These threats allow a surge in demand for different PPE—such as helmets, night-vision goggles, body armor, and clothing which provide enhanced protection and situational awareness to the soldiers. The military personal protective equipment available in the present market are manufactured with rugged materials capable of withstanding extreme temperatures and shocks. Various developed countries are investing in the R&D of advanced soldier modernization to optimize the combat’s effectiveness. Thus, increase in demand for soldier modernization owing to the surging battlefield scenarios is propelling the adoption of military personal protective equipment, which, in turn, is fueling the market growth.
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Military Personal Protective Equipment Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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