Site icon CRI Report

Growing Demand for Chemicals Across the Globe is Expected to Boost the Demand for Combat Helmet Market During the Forecast Period 2027

admin
Combat Helmet

Market Forecast

The combat helmet market is projected to reach USD 3.32 billion by 2027and register a CAGR of 5.2% between 2021 and 2027.The increasing defense expenditure and increasing cross-border disputesare primarily driving the growth of the market. Additionally, the increasing development of advanced combat helmets is driving the growth of the market further.

As per the Stockholm International Peace Research Institute (SIPRI), global military spending rose by 3.6% to approximately USD 1.91 trillion from 2018 to 2019. During the same period, the US, China, and India increased their military spending by 5.3%, 5.1%, and 6.8%, respectively. Furthermore, in 2019, India overtook Saudi Arabia and Russia to become the third-largest defense spender in the world. Although there was a slight decline in the US defense spending from 2010-2019, the US observed growth in military spending in 2019. It is estimated that the US will spend significantly more on its military for the next two years, focusing on the modernization of conventional technologies. Meanwhile, other developing countries have plans to invest in advanced technologies and are focused on expanding, modernizing, and enhancing the capabilities of their armed forces. This is also expected to drive the growth of the combat helmet market during the forecast period.

Moreover, in recent years, there has been a rise in global conflicts, such as the Russia and Ukraine conflict over Crimea, the battle for control over the South China Sea between China and South Korea, maritime disputes between Venezuela and Guyana, and sea border clashes between Colombia and Nicaragua. Moreover, the growing extremism in Egypt, France, and Tunisia has led to the need for updating military systems and equipment. This is also anticipated to drive the demand for advanced soldier protection systems.

Market USP

Stringent Regulations Driving the Need for Advanced Combat Helmets

Segmental Analysis

By Application

The Protection Segment Accounted for the Largest Market Share in 2019: The protection segment accounted for the largest market share and is expected to register a steady CAGR during the review period. This is due to the high usage of combat helmets for protection against munitions and other threats during warfare situations by military agencies globally.

The Visual Assistance Segment is Expected to Grow at the Highest Rate: The visual assistance segment is expected to record a steady growth rate during the forecast period. This is due to the high-use helmets with visual assistance during a military mission at night or airborne military missions.

The Communication Segment is Expected to Grow at the Highest Rate: The communication segment is expected to record the highest growth rate during the forecast period. This is due to the development of advanced combat helmets integrated with communication systems. These helmets are widely used in military tactical missions to communicate critical information.The US army is investing more in developing advanced integrated communications combat helmets. The helmet should provide unrestricted communication in noisy environments of the combat area, which is achieved by noise-canceling microphones.

By Material

The ballistic fiber segment is expected to witness the highest growth in the market: The ballistic fiber segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the review period. This is due to the high level of protection from ballistic threats, such as bullets, projectiles, and shrapnel is provided by the ballistic fiber. Moreover, the helmet is made up of ballistic fiber is lightweight.

The thermoplastic segment is expected to grow at the highest rate: The guided projectiles segment is expected to register the highest CAGR during the forecast period, 2021 to 2027. The growth can be attributed to the high utilization of thermoplastic combat helmets by developing economies. These helmets are less costly and are recyclable. In addition, thermoplastic materials can be cooled and heated several times with no change in their chemical/mechanical properties.

The metal segment is expected to grow at the highest rate: The metal segment is expected to register a steady CAGR during the forecast period, 2021 to 2027. The growth can be attributed to the utilization of metal components in combat helmets. Full metal combat helmets are increasingly being used by military forces.

By End User

The Military Agencies Segment Accounted for the Larger Share in 2019: The military agencies segment accounted for the largest share in 2019. This can be attributed to the increasing use of advanced soldier protection systems by military agencies globally. The soldier protection system has notable importance by the military forces. Therefore, they are investing more in such systems.

The Law Enforcement Segment is Expected to Grow at the Higher Rate: The guided projectiles segment is expected to register the highest CAGR during the forecast period, 2021 to 2027. The growth can be attributed to the increasing terrorist attacks and rising incidents of riots globally. Therefore, the demand for combat helmets has been increasing by law enforcement agencies across the world.

Key Players Operating in the Global Combat Helmet Market:

Other Prominent Players Operating in the Global Combat Helmet Market:

Exit mobile version