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Military Personal Protective Equipment Market: Ceradyne Bags Contract Worth $111 Million to Provide Body Armor Plates to U.S. Army & Air Force
Military Personal Protective Equipment Market: Ceradyne Bags Contract Worth $111 Million to Provide Body Armor Plates to U.S. Army & Air Force
The global military personal protective equipment (PPE) market size was USD 16.61 billion in 2019 and is projected to reach USD 25.63 billion by 2027, exhibiting a CAGR of 6.02% during the forecast period (2020-2027).

The global militarypersonal protective equipment (PPE) market is set togain impetus from the rising development of lightweight body armor by thedefense forces of several countries. The U.S. Army, for instance, developed anew system called Torso and Extremity Protection (TEP) that consists of a blastpelvic protection system, a battle belt, a scalable vest, a modular, and a ballisticcombat shirt. This information is given by FortuneBusiness Insights™ in a recently published report, titled, “Military Personal Protective Equipment(PPE) Market Size, Share and Global Trend By Product Type (Advanced CombatHelmet, Life Safety Jacket, Protective Eyewear, Body Armor, Tactical Vest, andPelvic Protection System), By Application (Ground, Airborne, and Naval), andRegional Forecast, 2020-2027.” The report further states that the globalmilitary personal protective equipment market size was USD 16.61 billion in 2019 and is projected to reach USD 25.63 billion by 2027, thereby exhibitinga CAGR of 6.02% during the forecast period.

Theoutbreak of the COVID-19 pandemic has shattered the global economy. This hasresulted in the shutdown of manufacturing processes across a wide range ofindustries. Owing to the preventive measures implemented by the governments,such as lockdown and stay-at-home initiatives, we will soon be able to come outof this difficult situation. Out team of highly skilled analysts are strivingpersistently to deliver the best available strategies that you can follow to intensifycompetition.

To know more about the short-term and long-term effectsof COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/military-personal-protective-equipment-ppe-market-103131

This Report Answers the Following Questions:

·      What are the market dynamics,growth drivers, and barriers?

·      Which companies are set to generatethe largest revenue?

·      Which strategies are being followedby key players to surge sales of military PPE kits?

·      Which segment is expected todominate the market in the coming years?

·      What are the future market opportunitiesand challenges?

Drivers & Restraints-

Urgent Need to Provi de Better Safety to Soldiers willAccelerate Growth

The defenseforces worldwide are looking forward to offering better standards of combattactical advantage and safety to the soldiers. Coupled with this, theincreasing security threats, such as political unrest, terrorist activities,and cross border conflicts, especially in the Asian countries would contributeto the military PPE market growth during the forthcoming years. Prominentcompanies present in the market are aiming to develop technologically advanced protectiveeyewear, combat helmets, and fireproofbody armors. However, in 2019, it was observed that several countries loweredtheir defense budgets. In addition to this, the rising number of malfunctionissues associated with these military PPE kits may obstruct the market growth.

Segment-

Airborne Segment to Grow Steadily Owing to High Demand forHelmets & Goggles

Based on application,the market is divided into naval, airborne, and ground. Out of these, the airbornesegment held 28% in terms of military personal protective equipment marketshare in 2019. This growth is attributable to the increasing demand forinnovative helmets and goggles. The ground segment is anticipated to dominatethe market in the near future on account of the extensive utilization of militaryPPE from ground defense forces.  

Regional Analysis-

North America to Remain at the Forefront Fueled by HighDefense Expenditure

Geographically,North America procured USD 4.89 billion revenue in 2019 and is expected to leadthe market throughout the forecast period. The main growth driver is the highdefense budget of the U.S. In 2019, the U.S. Department of Defense (DoD) spent USD732 billion in the country’s defense forces. That was the highest expenditureworldwide. Also, the rising investments in research and development activities,upgradation of military forces, and the rising procurement of latest equipmentby signing contracts are some of the other factors responsible for the growthof the market in this region.

AsiaPacific, on the other hand, is likely to grow remarkably backed by the risingterrorist attacks and cross-border conflicts. These factors would propel the countries,such as South Korea, Australia, China, and India to strengthen their militaryforces. Europe would exhibit considerable growth because of the increasingexpansion of the military forces in the developed countries, such as Russia,the U.K., and Germany.

Competitive Landscape-

Key Players Focus on Bagging Orders from Defense Forces to IntensifyCompetition

Thecompanies operating in the market are investing huge sums in the research anddevelopment activities to create unique military PPE kits. They areincorporating those with novel technologies, such as sensors, biometrics, and artificialintelligence (AI). Some of the reputed companies are also trying to receive neworders from the defense forces for their in-house products. Below are a coupleof the latest industry developments:

·      March2020: The U.S. Department of Defense awarded a contractworth USD 111.1 million to Ceradyne for delivering body protection plates tothe U.S. Army and Air Force. These plates are majorly used in the tacticalvests of military personnel.

·      March2018: BAE Systems won two contracts from the U.S. Army worthUSD 97 million to provide new thermal weapon sights and night vision goggles.These will help soldiers to covertly and efficiently acquire targets in alllighting and weather conditions.

FortuneBusiness Insights™ lists out the names of all the military personal protectiveequipment manufacturers operating in the market. They are as follows:

•                3M (The U.S.)

•                ArmorSource LLC (The U.S.)

•                BAE Systems (The U.K)

•                DuPont (The U.S.)

•                Eagle Industries (The U.S.)

•                GENTEX CORPORATION (The U.S.)

•                Honeywell International Inc. (TheU.S.)

•                KDH Defense Systems, Inc. (TheU.S.)

•                MSA Safety Incorporated (The U.S.)

•                Point Blank Enterprises Inc. (TheU.S.)

•                Revision Military (The U.S.)