The global Military Personal Protective Equipment Market size is anticipated to reach USD 23.55 billion by 2028, registering a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. Focus of military agencies on increasing the safety & security of their soldiers and rapid technological advancement is expected to drive the demand for military PPE. Countries spending heavily on the military include the U.S., India, China, Russia, and the U.K., which together accounted for around 62% of the global military expenditure.
Thus, improved spending on military upgradation by various governments coupled with the increasing number of recruits in the armed forces is expected to boost the product demand over the forecast period. Military PPE has evolved into a critical component of soldier safety, as it is used to protect soldiers from severe injuries caused by contact with physical, chemical, radiological, electrical, mechanical, or bio-hazardous materials.
Rising concerns pertaining to the safety of soldiers are expected to have a positive impact on the market growth. The expansion of battlefield hazards, such as the use of shrapnel in explosive devices or batons used in hand fighting, has resulted in a new wave of forward-thinking body armor and tactical ballistic vest protection that offer extra safety to soldiers. This, in turn, is anticipated to augment the demand for advanced military PPE.
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Military Personal Protective Equipment Market Report Highlights
- The body armor segment accounted for the highest revenue share of more than 19.5% of the global market in 2020
- This was credited to the increased military operations in several countries and demand for ballistic protection suits coupled with the high adoption of body armor
- The equipment demand in the army is estimated to witness growth at the fastest CAGR of 7.9% from 2019 to 2028 due to the growing geopolitical tensions in various border states across the globe
- North America accounted for the maximum revenue share of 36% in 2020 owing to the high military spending by the U.S and increasing fleet size to counter the influence of China and Russia
- Asia Pacific is estimated to witness the fastest CAGR, in terms of revenue, over the forecast period owing to the increasing instances of warfare, border disputes, and the threat of cross border terrorist activities in India, Pakistan, and Afghanistan
- The majority of manufacturers are committed to providing protective equipment using the most creative and cutting-edge technologies to assure maximum comfort, durability, and protection for military troops