Vantage Market Research
Nov 12, 2021
According to analysts at Vantage Market Research, the military footwear, apparel, and body armor market is expected to reach USD 7.5 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028. The rising need for soldier training and coordination, alleged geopolitical conflicts, increasing asymmetric warfare, and soldier modernization programs, are some of the determinants driving the growth of the military Footwear, Apparel, And Body Armor market.
Military Footwear, Apparel, And Body Armor Market Preview
- The Military Apparel Wear Product segment is projected to expand at the fastest CAGR exceeding 16% over the forecast period owing to the increasing adoption in the food and beverage industry.
- The army segment held the largest market share in 2020. This share is due to the rising investments and rapid modernization of the army’s around the globe.
- Asia Pacific is expected to expand further at a CAGR of over 28% from 2021 to 2028. This surge is attributed to the rising tension between neighbors and modernization of the currently available demand for automated sortation systems in developing economies such as China and India.
Military footwear, apparel, and body armor are all the major necessities required for the use of military forces. These are useful for fighting purposes which are specially designed with more strength and reliability. Increasing investments in the integration and development of advanced wearable technologies to conquer limitations of existing Military Footwear, Apparel And Body Armor is also contributing to the Military Footwear, Apparel, And Body Armor market growth.
Asia Pacific region is poised to record the highest CAGR, owing to the increasing demand in countries, such as India, China, and Japan, coupled with the growth of the region's overall robotics market. In China and India, the demand for military footwear, apparel, and body armor is mainly due to a large number of serving members. However, the advent of domestic versions has brought down the prices, which is expected to drive the deployment.
Some of the key players in the military footwear, apparel, and body armor market include Hunan Zhongtai Special Equipment Co., Ltd, Armor Express, Beijing Zhongtianfeng Safety Technology Co., Ltd., Jiangxi Jin Kaidun protective equipment manufacture Co., Ltd, Dupont, Jihua Group Company Limited. , DSM, Mehler Vario Systems, AR500 Armor, Jiang Su Jinan Police Equipment Manufacturing Co., Ltd, Safariland Group, PPSS, Jiangsu Wuwei Police Equipment Manufacturing Co., Ltd., Jiangxi Great Wall Protection Equipment Industry Co., Ltd., Jiangsu Xin a police equipment Manufacturing Co., Ltd., Chongqing Dunzhiwang Industrial Co., Ltd., Elbeco, China North Industries Group, PHA CORP, Zhejiang Huaan Security Equipment Co., Ltd., Jiangsu Kelin Police Equipment Manufacturing Co., Ltd., Shanghai Lianbo Security Equipment Co., Ltd., Ningbo Dacheng Advanced Material Co., Ltd., Norotos Inc, among others. The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.