The global Advanced Protective Gear and Armor market is forecast to reach USD 39.33 Billion by 2027, according to a new report by Reports and Data. The market for advanced protective gear and armor is expected to grow steadily around the world due to the high frequency of terrorist activities and related geopolitical events. Although protective equipment remains an integral part of the defense industry, it is not reflected in expenditure, and only a small amount is allocated for the purchase of protective equipment. The emphasis on mobility and comfort has been a widely accepted trend in various manufacturing silos, as ease of mobility is very critical in intense situations. The development of wearable technology is also forecasted to stimulate industry demand for advanced protective equipment that is integrated with sensors and other assistive technologies, which can help monitor any signal of life threat and other information to report the employee’s security status. Leading manufacturers in the market have entered developing economies to fuel growth, take advantage of the vast untapped potential, and seize the opportunity to strengthen their grip on the global market for protective gear and armor.
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Key participants include 3M, Kimberly-Clark Corporation, Alpha Pro Tech Ltd., Uvex Safety, AE System PLC, Arco Ltd., Mine Safety Appliances Company (MSA Safety), Ballistic Armor, Alliant Techsystems Inc., and Bolle Safety, among others.
The COVID-19 impact:
The COVID-19 pandemic is expected to have a downward impact on the global advanced protective gear and armor market in 2020, the reason being the halt in the construction industry, which was responsible for the significant demand in market share terms in 2019. The only sector that is keeping the market afloat is healthcare due to the massive demand for personal protective kits for protection against coronavirus. After the pandemic, however, trends discussed in the study of the global advanced protective gear and armor market do hold ground.
Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the Oil and Gas, and Industrial segments, which are significant markets, which will have short-term impacts on market sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
For the purpose of this report, Reports and Data have segmented into the global advanced protective gear and armor market on the basis of type, usage, product, end-use industry, and Region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Usage Outlook (Revenue, USD Billion; 2017-2027)
Product Outlook (Revenue, USD Billion; 2017-2027)
- Foot Protection
- Eye and Face Protection
- Fall Protection
- Hearing Protection
- Hand Protection
- Respiratory Protection
- Gas Detection
- Protective Apparel
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Oil and Gas
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Further key findings from the report suggest
- The industrial segment is responsible for the majority of the market growth and is expected to grow at a significant rate. Healthcare is the fastest-growing segment and is likely to generate massive sales because of the COVID-19 pandemic.
- Major industrial applications lead the workforce to expose to hazardous chemicals that can prove to be fatal. Due to this, protective gear and armor of chemical types capture a large share of the market. Huge expenditure in defense from countries around the world has led to the growth of ballistic protective equipment.
- Growing industrialization in emerging economies and the presence of industry leaders in developed countries have been the market driving forces.
- Asia-Pacific is the fastest-growing market. The region is expected to achieve the highest CAGR with China, Japan, and India, leading the growth over the forecast period. North America dominates the market because of substantial defense expenditure. Along with Europe, it leads to healthcare expenditure across the globe.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Advanced Protective Gear and Armor market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities.
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