Global Military Tactical Vest Market Overview
Military Tactical Vest Market Size was valued at USD 11.9 million in 2022. The Military Tactical Vest Market is projected to grow to USD 20.1047 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2022 - 2032).
Military Tactical Vest Market is equipment soldiers use to protect themselves from attacks that they wear outside of their shields. It is also used to store other equipment and food. A soldier needs many things to protect himself from enemy attacks and increase the space for keeping those items. It is made up of nylon tape, which is very comfortable and light to wear. It is also used to keep many types of strength equipment so that, in difficult times, they can protect themselves. Sometimes it becomes difficult for soldiers to keep so many things along with the cell phone. In recent times the government and the military services are trying their best to make innovative technologies to protect the soldiers and safeguard their lives. As the crimes are increasing like fire, to keep the country safe, one has to make innovative products to provide security to the people of the particular government.
Covid-19 Analysis
A pandemic has a great impact on the market right now. Several markets are facing many losses and issues due to the pandemic attack. COVID has created a full circle of problems for the marketing industry. Industries are still trying to cope up with the loss and fight against it. Due to lockdown order by many countries business, faced downfall to a great extent as recovering from that takes time for every market. But as many industries got a shock, several other industries do not face any loss and remain constant and show growth during the forecast period. The military tactical vest market had a great impact on the pandemic.
Chief Variable Existing in the Market
Key Market Drivers
Due to the increased crime and enemy attacks, every country is improving its security system. The government of each country is trying its best to provide security for the country. Safety measures and equipment are being made, which can protect the soldiers and protect the country. That is why the new use of technology will drive the military tactical vest market during the forecast period. It also has many more advantages; it can be useful to communicate and detect enemies. All these key drives help in driving the military tactical vest industry.
Market Challenges
As the technology market is growing with many companies, several companies are also aiming to try the market as the need for military equipment are increasing; several newcomers are also coming to the military tactical vest market.
Although this increases the market size, it becomes difficult for the present companies to cope up. The military bulletproof vest market is a huge challenge for many marketers as it requires several pieces of equipment us military tactical vest is somewhat are successful in this.
Opportunities in the global market
The military tactical vest market is expected to showcase high growth during the forecast period. Growing technology for military and army forces can create the most opportunity for the market. It can increase the market size and also it would be a good opportunity for the new entrant.
Restrains
As the military vest market increases, many new companies are trying to secure their place in this. But many restraints affect the marketplace. With the new technologies, many companies provide products that are easy to use and also reliable. The key restrains selling low-quality vests and vests that would be unreliable and heavy for soldiers to tackle serious conditions.
Cumulative Evaluation of the Market
The attractiveness of the different vests and the quality of the vest could help in the growth during the forecast period. Several ranges of market variables and opportunities are investigated properly to provide the best and proper report of the military tactical vest market. The market drivers, opportunities, challenges, and restrains are mentioned here with full research and investigation. It could impact positively and negatively in the market growth during the forecast period. And it also depends on the future growth of the market. One can assume that the military tactical vest market would grow and earn profit in the future. But the market which operates this market should understand the effects and should also keep them in mind. Military-grade tactical vest factory is growing.
Overview Of the Main Market Segment
By Vest Type
The military tactical vest market is divided by type into the soft vest, plate carriers, and multi-functional vests. The plate carrier has been again divided into ceramic plates, steel plates, and polyethene plates. It is expected that the multi-functional vest will register the highest CAGR in the upcoming period. As multi-functional provides so many types of functions, it is expected to increase the market size. Better communication systems tend to boost the growth of the market. Military plate carrier vests are already in high demand and are expected to grow in upcoming years. The Military tactical vest plate carrier is leading in the market size. Military grade tactical vest market has become successful and growing. The tactical vest military is a great invention for military soldiers.
By Protection Level
The market is segmented into knife and spike protection and ballistic protection. The ballistic is further divided into levels II, IIA, III, IIIA, and level IV, and the knife and spike are divided into levels I and II. Many companies are investing in the military tactical vest market and making innovative products to increase the market growth. The ballistic segment is expected to increase the growth making the highest CAGR during the forecast period. The military surplus tactical vest helps in soldier protection.
Regional Analysis
According to the regional segment, the military tactical vest market is divided into North- America, Asia- Pacific, Europe, Latin America middle east, and Africa. It is expected that the Asia - Pacific region to register the highest CAGR during the forecast period because of the high use of military products by the region. It is expected India will improve the market growth in the forecast period. The increased use of products due to the implementation of security to safeguard different countries can increase the market growth. The difference between countries and increased border issues also increases the market. Any organizations use a military grade tactical vest to gain profit in many areas.
Competitive Landscape
The military tactical vest market is one of the growing markets in recent times. The market is growing because the customers of the market are growing rapidly. Due to several crimes and political issues between countries, border issues, and safety. As the demand for security and comfort equipment is growing, new companies are entering the market to magnify the competitive intensity of the market. Some of the global level market players who are topping the market are
- Aegis Engineering Ltd. In the UK
- AR500 Armor in the US
- BAE Systems in the U.K.
- Ballistic Body Armor Pty in South Africa
- Craig International Ballistics Pty Ltd. In Australia
- Ceradyne Inc. in the US
- Hellweg International in Australia
- Keijo Limited Company in the US
- Pacific Safety Products in Canada
- Point Blank Enterprises Inc. in the U.S.
- Safariland LLC in U.S.
Recent Development
Point Blank Body Armor, Inc. (US): A leading manufacturer of body armor and personal protective equipment, Point Blank has a long history of supplying military and law enforcement agencies worldwide. In recent years, the company has focused on developing lighter and more comfortable ballistic vests, such as the CIRAS (Combat Integrated Releasable Armor System) vest.
BAE Systems (UK): A global defense and aerospace company, BAE Systems offers a wide range of military equipment, including body armor and tactical vests. The company's Osprey body armor system is used by the British military and other NATO forces. In February 2023, BAE Systems announced a contract to supply the US Army with next-generation combat helmets and body armor.
Safariland (US): A leading provider of law enforcement and security equipment, Safariland offers a variety of tactical vests, including plate carriers and modular vests. The company's products are used by law enforcement agencies and military units around the world. In 2021, Safariland acquired the body armor business of Armor Express, a leading manufacturer of ballistic vests for the US military.
Report Overview
The overview of the military tactical vest market has been mentioned here in the market. Several factors influence the market. Several types of strategies and research, and developments are used to fetch information and to relate and understand the market setting of the military tactical vest market. Several factors affect the market, and it is all provided in the report for a clear view of the market. Those are mentioned here. The information provided in the report is fetched by several kinds of research that affect the technical, political, legal, and social settings. The key industrial segments are mentioned below.
Key Industrial Segments
By Vest Type
- Soft vest
- Plate carrier
- steel plates
- ceramic plates
- polyethene plates
- Multi-functional vest
By Protection Level
Knife and spike protection
Ballistic protection
- Level II
- Level IIA
- Level III
- Level IIIA
- Level IV
Military Tactical Vest Market Highlights:
Frequently Asked Questions (FAQ) :
Global military tactical vest market is projected to thrive at a CAGR of 10.40% by the end of 2032.
Global military tactical vest market is likely to acquire a substantial market value during the forecast period.
Global military tactical vest market is majorly driven by the rise in military welfare, high investment in the military across the regions, and military modernization programs.
Global military tactical vest market is segmented into vest type, protection level, and region.
Aegis Engineering Ltd. (UK), Ceradyne Inc. (US), Ballistic Body Armor Pty (South Africa), Point Blank Enterprises Inc. (US) are some of the established key players of the global military tactical market.
