According to a recent report published by Allied Market Research, titled, “Advanced Protective Gear and Armor Market by End-use Industry, User, and Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global advanced protective gear and armor market was valued at $12.13 billion in 2020, and is projected to reach $26.54 billion by 2030, registering a CAGR of 7.4%.
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. China dominated the global advanced protective gear and armor market share in Asia-Pacific in 2020, owing to increase in R&D activities, technological developments by big players, and rapid adoption of innovative technologies in making safer, convenient, and smart protective gear and armors. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in investments to ensure high safety of industrial workers across various countries in the region.
Various nations across the globe are providing advanced protective gear and armor to frontline workers to ensure their safety and improve the efficiency of their operations. Advanced protective gears are made from lighter and tougher materials, and improve the comfort and safety of individuals working in risk-prone environments. In March 2019, Odisha’s (Indian state) fire service decided to procure enough quantity of fire entry suits to allow firemen to walk into the blaze and perform rescue operations. Similarly, in July 2020, the Naval Sea Systems Command’s (NAVSEA) gave TenCate a N61331-20-D-0011 contract as an ID/IQ (Indefinite Delivery/Indefinite Quantity) to deliver maritime buoyant body armor (MBP), both in side and torso configurations.
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By end-use industry, the advanced protective gear and armor market is categorized into industrial, oil & gas, law enforcement, healthcare, construction, and other. The oil & gas segment accounted for the highest revenue in 2020, owing to high demand for advanced protective gear in the huge oil & gas industry present across various parts of the globe.
By type, the advanced protective gear and armor market is bifurcated into thermal, chemical or biological, ballistic, and other. The chemical or biological segment accounted for the highest revenue in 2020, owing to possibility of different kinds of injuries involved in the chemical or biological industry verticals.
Increasing terrorist activities and warfare situations around the globe and stringent laws & regulations regarding work environment safety are expected to drive the advanced protective gear and armor market during the forecast period. However, the supply of poor quality, low-cost products and low safety compliance in the construction industry are anticipated to hamper the growth of the market. Moreover, rise in military expenditure to acquire body armor and technological advancements in protective gear and armor products are expected to offer lucrative opportunities in future.
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COVID-19 Impact Analysis
The COVID-19 impact on the advanced protective gear and armor market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned/restricted the number of personnel in the factories for most of 2020. This led to sudden fall in demand for protective equipment and hampered the adoption of technologies, such as the use of smart sensors in protective gears, across the globe.
Moreover, nationwide lockdowns forced protective equipment manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced protective gear solutions globally.
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Key Findings Of The Study
By end-use industry, the healthcare system segment is expected to register significant growth during the forecast period.
By user, the personal segment is anticipated to exhibit significant growth in future.
By type, the chemical or biological segment is projected to lead the global advanced protective gear and armor market, owing to higher CAGR as compared to other segments.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global advanced protective gear and armor market include ArmorSource LLC, Avon Rubber P.L.C., BAE Systems plc, Bolle Safety Standard Issue, DuPont De Nemours, Inc., Galls, LLC, Honeywell International Inc., MSA Safety Incorporated, Northrop Grumman Corporation, and Point Black Enterprises Inc.
Advanced Protective Gear and Armor Market to Reach $26.54 Billion, Globally, by 2030 at 7.4?GR: Allied Market Research – PRNewswire
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