Global Military Personal Protective Equipment Market Report, published by Variant Market Research, forecast that the global market is expected to reach $24.5 Billion by 2024 from $14.8 Billion in 2016, growing at a CAGR of 6.5% from 2016 to 2024. By geography, Asia Pacific and Rest of the World (RoW) are expected to grow at a CAGR of 7.7% and 6.6%, respectively, during the forecast period.
"Military Personal Protective Equipment Market (By Product Type: Advanced Combat Helmet, Pelvic Protection Systems, Life Safety Jacket, Body Armor, Improved Outer Tactical Vest, Military Combat Eye Protection and Others; By Application: Army, Air Force, Navy and Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Rising awareness about safety and security of military personals along with initiative by government in procurement of personal protective wears is expected to fuel the growth of the military personal protective equipment market. Moreover, high conflicts at borders among various countries and increasing threat of terrorism are also expected to boost the growth of the market.
By product type, body armor (BA) and advanced combat helmet accounted for highest share in 2016. Asia Pacific is the fastest growing region in the global military personal protective equipment market, and is expected to continue this trend due to conflicts among countries such as India and Pakistan and increasing terrorist activities. North America accounted the largest share of the market followed by Europe with 2016.
The 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. For instance, May 2016, Revision Military has introduced SNOWHAWKTM cold weather goggle system for extreme cold weather operations.