Advanced Protective Gear and Armor Market Size Is Set To Fly High In Years To Come

Apr 28, 2023

Global Advanced Protective Gear and Armor Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Body armour is an essential piece of equipment for any military member, and troop protection is the first concern for every armed force. To protect their status and reputation, developed and emerging countries such as the United States, Germany, China, and India have set aside a considerable portion of their budget for defense expenses. Gear can also be utilized for biological defense. In police enforcement and military applications, body and vehicular armor, as well as bullet-resistant suits, are necessary. Increasing cross-border disputes, such as those between the United States and Iran, India and Pakistan, India and China, and Israel and Palestine, are expected to fuel product demand. Threats to internal national security, such as the twin towers assault, the Mumbai attack, and the Moscow incident, have highlighted the necessity to strengthen internal security forces.

As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018.In June 2019, the Italian Ministry of Defense and Ministry of Economic Development announced to jointly invest USD 8.2 billion in the defense industry's need for modernization.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Over the projected period, these factors are likely to boost the advanced protective gear and armour market. Because of increased terrorist activities and combat scenarios throughout the world, the worldwide advanced protective gear and armour market is predicted to develop during the next seven years. The protective gear industry is a specialized sector impacted by homeland security and warfighter demands. Rising security needs have raised demand for first responder personnel, which is likely to boost product demand. Stringent rules and regulations governing workplace safety, as well as increased concern for employee safety in industries, are projected to drive the expansion of the advanced protective gear and armour market. Rapid industrialization in both developed and emerging nations is predicted to drive up demand for industrial protective equipment. In industrial applications, chemical protective gloves, clothing, suits, and equipment are used. However, the high cost of Advanced Protective Gear and Armor restrains market expansion from 2022 to 2028.

The key regions considered for the Global Advanced Protective Gear and Armor Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America has the highest demand as the world's largest military force and is predicted to have high demand throughout the forecast period due to rising cross-border tensions. Europe is also expected to see considerable product demand throughout the projected period, owing to rising worker awareness of industrial safety. Due to increased terrorist activity in India and Pakistan, Asia Pacific is projected to see increasing demand. Increasing cross-border tensions between India, China, and Pakistan are also likely to drive the growth of the advanced protective gear and armour market.

Major market player included in this report are:

Mine Safety Appliances Company

BAE Systems

Defence Industries International

Ballistic Body Armour

Alliant Techsystems Inc.

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Ceradyne

3M Company

Kimberly-Clark Corporation

Honeywell International

MSA Safety Inc

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Thermal

Chemical

Ballistic

By Use:

Industrial

Personal

By End-user Vertical:

Industrial

Oil & Gas

Construction

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

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ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

The Five Forces analysis examines the following factors:

The PESTLE analysis takes into account the following dimensions:

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