Market Size of Advanced Protective Gear and Armor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.43 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Advanced Protective Gear & Armour Market Analysis
The advanced protective gear and armor market was estimated at USD 16.27 billion in 2020. The market is expected to reach USD 28.24 billion by the end of 2026, registering a CAGR of 10.43% during the forecast period (2021-2026).The advanced protective gear and armor market is expected to witness steady growth across the globe owing to the high frequency of terrorist activities and related geopolitical events.
- Though protective gear remains an integral part of the defense industry, it is not reflected in the expenditure on protective gear; only a small amount is allocated for the purchase of protective gear. It is heavily influenced by the demands from the warfighters and the homeland security requirements, further augmented by the increase in the number of incidents of domestic criminal activities, which has led to a dire need for protective equipment in law enforcement and first response activities.
- The evolution of wearables technology is further expected to boost the industry demand for advanced protective gears that are integrated with sensors and other assisting technologies, which can help report any vital stress signals and other information to signal the safety state of the employee. Leading manufacturers in the market have entered the developing economies to fuel the growth of brands, take advantage of the largely untapped potential, and exploit the opportunity to enhance their hold on the global protective gear and armor market
- Rapid advancements and breakthroughs in technology have compelled the companies in the industry to expand their range of offers. Emphasis on mobility and comfort has been a widely-accepted trend across the different manufacturing verticals as ease of movement is very critical in intense situations.
- Government policies and standards have re-instated the need for accountability in hazardous events or accidents at work sites. This has compelled corporates and multinationals to take initiatives by introducing personal protective equipment and clothing as part of the industry standard and norm.
- Moreover, rising demand for products offering comfort and style, increasing safety awareness across the industries are driving the market. However, increasing threat from low-cost and private label products, low safety compliance in the construction industry, dearth of innovation restraints product differentiation are restraining th market growth.
