According to The Insight Partners, Latest research report on “Military Personal Protective Equipment Market Size, Revenue, Global Analysis and Forecast to 2027”, the market is expected to reach US$ 20,804.39 million by 2027, registering a CAGR of 7.6% from 2020 to 2027.
The growing military spending across the world is boosting the procurement of military personal protective equipment. The top five military spenders in the year 2019 were the US, China, India, Saudi Arabia, and Russia, which boost the procurement of military personal protective equipment in these countries. The requirement of military personal protective equipment is projected to be driven by the large defense financiers’ modernization initiatives across the US and internal security threats, such as organized terrorism and crime. Moreover, a significant rise in cross-border tensions between India, China, and Pakistan is driving the growth of the military personal protective equipment (PPE) market in APAC.
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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; and US Armor Corporation are among a few players operating in the military personal protective equipment market.
The Military Personal Protective Equipment Market report is segmented into Equipment, Product, End-User, and Geography. Further, on the basis of Equipment, the Military Personal Protective Equipment Market is segmented into Body Armor, Hazmat Protection, Flame Resistant Clothing and Other. Based on Product, the Military Personal Protective Equipment Market is segmented into Glove, Helmet, Boot, Goggle, Face Mask and Other. Based on End-User, the Military Personal Protective Equipment Market is segmented into Land Force, Air Force and Navy. Based on Geography, the Military Personal Protective Equipment Market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM)
The changing environment of modern warfare influences the governments across the world to invest a significant amount on military forces. The 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. However, high cost of military personal protective equipment in developing countries is a major factor restraining the military personal protective equipment market growth.
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The global military personal protective equipment market is fragmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (SAM). The market in APAC is projected to experience a significant growth during the forecast period due to the growth in Asian economies and technological advancements supporting the development of various industries in Asia. India, China, Japan, and South Korea are among the major countries with greater military strength in the region. These countries invest huge resources in military soldiers’ protection, which allows them to deploy advanced PPE systems and technologies. As per SIPRI, in 2019, the five largest spenders in the world, which collectively accounted for 62% of military expenditure, were the US, China, India, Russia, and Saudi Arabia. In APAC, China, India, Japan, and South Korea were the largest military spenders in 2019. The strong economic growth, territorial disputes, and military modernization plans to replace the old defense devices have led to the rise in defense spending in APAC countries.
Significant strategic initiatives by several industry players are observed in the market; for instance, in 2020, Honeywell launched Spectra Shield 6166, which is the company’s newest and the highest performing ballistic material. Moreover, in 2019, Ansell Ltd. acquired Ringer Gloves for US$ 1.9 billion. Ringer Gloves specializes in providing gloves for construction, industrial, tactical, commercial, and other applications.
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