Military Tactical Vest Market Overview Top Manufacturers Sales, Consumption Volume, Cost Structures Forecast 2030
Military Tactical Vest Market
Military Tactical vest Market is projected to thrive at a CAGR of 10% by the end of 2030. The soaring tensions globally have contributed to the increasing military investments, which is estimated to push the military tactical vest market. The aerospace &defense industry reports are designed by Market Research Future, highlighting market prospects for evolution.
A tactical vest is a heavy-duty vest that is worn over regular clothing for protection against ballistics and sharp object attacks. The vest is also used to carry ammunitions, gun magazines, grenades, and communication devices such as cell phones. Military Tactical Vest Market Overview are primarily constructed with lightweight materials which reduces fatigue without compromising on protection. Military tactical vests can be purchased in multiple configurations that includes shoulder pads, chest and side protection among others.
The enhanced need for storing ammunition and weapons such as grenades, communication devices, and gun magazines in warfare makes military tactical vest essential, increasing its global requirement in the forecast period. Military programs in several counties are predicted to bolster the military tactical vest industry in the forecast period.
Competitive Analysis
The microeconomic level improvement is estimated to have its presence felt on the global level as companies are driven to undertake new ventures for growth. The revision of supply chain comments is estimated to have a conducive effect on the long-term expansion of the players operating in the market. The positive response to the development of a COVID-19 vaccine is estimated to provide further reassurance to the companies regarding their future progress.
The market is estimated to draw heavily from the market cues on a global scale while monitoring their consumer base in the forecast period. The influence of government backup is foreseen to have a fortifying effect on the market's development in diverse markets worldwide. The large-scale integration of technology in various areas of the market is predicted to lead the global market to new efficiency levels in the forecast period. The market players are also assessed to take a venture into broadening their commercial interests through the upcoming period with several smaller businesses unable to maintain financial viability.
The strategic companies in the military tactical vest market Players are Ceradyne, Inc. (US), Point Blank Enterprises, Inc. (US), Aegis Engineering Ltd. (UK), BAE Systems (UK), AR500 Armor (US), Craig International Ballistics Pty Ltd. (Australia), Ballistic Body Armor Pty (South Africa), Hellweg International (Australia), Kejo Limited Company (US), Pacific Safety Products (Canada), and Safariland, LLC (US).
Segmental Analysis
The segments studied in the Military Tactical Vest Market Size are conducted on the basis of vest type, protection level, and region. The vest type segment of the market comprises of the plate carrier, soft vest, and multi-functional vest. The protection level segment of the market is segmented into ballistic protection and knife &spike protection. Based on the region, the military tactical vest market has been segmented into the Middle East, Europe, Asia Pacific, Africa, North America, and Latin America.
Detailed Regional Analysis
The regions encapsulated in the military tactical vest market are the Middle East, Europe, Asia Pacific, Africa, North America, and Latin America. The North American market accounted for the principal segment and is anticipated to record the uppermost CAGR throughout the forecast period. Several soldier protection programs undertaken by nations such as the US are anticipated to force the regional market's development throughout the forecast period. The Asia Pacific regional military tactical vest market is estimated to be fortified by countries such as China, South Korea, and India. They are presently undertaking the upgradation of their military gear, which is anticipated to raise the implementation of tactical vests for the protection of the army personnel.
Industry Updates:
Nov 2020 The Russian Army has recently been provided Ratnik infantry gear, thousands of which they took delivery of recently, a month early than scheduled. The manufacturer Central Research Institute for Precision Machine-Building (TsNIITochMash) declared that they offered nearly 18,000 Ratnik combat outfits to the military.
Military Tactical Vest Market Research Report Information by Vest Type (Soft Vest, Plate Carrier [Ceramic Plates, Polyethylene Plates and Steel Plates] and Multi-Functional Vest), Protection Level (Knife and Spike Protection [Level I and Level II] and Ballistic Protection [Level II, Level IIA, Level III, Level IIIA and Level IV]) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030
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