MILITARY TACTICAL VEST MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global military tactical vest market is estimated to be valued at USD 3.14 Bn in 2024 and is expected to reach USD 4.70 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Report Description:
Global military tactical vest market has witnessed growth in the past few years due to increasing armed conflicts and terrorist activities around the world. Tactical vests serve as an essential utility for armed forces personnel deployed in combat zones as these allow hands free carriage of necessary equipment and supplies. These vests are made of tear and bullet resistant fabrics to ensure protection of vital organs during battles or crossfires. Various accessories like pouches, pockets, holsters can be attached onto these vests as per mission requirements. Technological advancements have led to the development of lighter, durable and modular tactical vests equipped with additional features like night vision aids, communication devices mounts, and others. Growing defense budgets of major countries can boost demand for sophisticated tactical gear including vests over the forecast period.
Market dynamics:
Global military tactical vest market growth is driven by rising incidences of security threats, terrorism and border conflicts that increases the defense spending of various nations. Modernization of armed forces with advanced gear along with replacement of aging equipment can offer growth opportunities to the market. However, high costs associated with production of ballistic-resistant materials limits the affordability of these vests for some defense organizations. Development of multi-threat, lightweight vests with enhanced soldier survivability features through innovations can offer growth opportunities to the market. Increasing adoption of networked, powered exoskeletons for load carriage and mobility amplification can disrupt the conventional vest systems.
Key features of the study:
- This report provides in-depth analysis of the global military tactical vest market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global military tactical vest market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 3M, Honeywell International, ArmorWorks, Eagle Industries, BAE Systems, DuPont, DSM, Armorsource, MSA Safety, Revision Military, Gentex Corporation, Ansell, MKU Ltd., Avon Protection Systems, Inc., Ballistic Body Armor Pty
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global military tactical vest market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Detailed Segmentation
Detailed Segmentation
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