(MENAFN- America News Hour)Kenneth Research has recently added a report titled Military Personal Protective Equipment market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Military Personal Protective Equipment market is further anticipated to grow with a CAGR of 6.5% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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.
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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
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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