Advanced Combat Helmet Market is Expected to Grow With a CAGR of 6.4% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “Advanced Combat Helmet Market By End-use (Defence, Homeland Security), Industry Trends, Estimation & Forecast, 2017 – 2025″
In 2017, the defence segment generated the highest revenue share in the global advanced combat helmet market. Among major regions, North America was the highest revenue generating market, holding nearly 36% of the market share, in 2017.
“Numerous contracts for availing the best and highly advanced combat helmets are supporting the market players to grow in the North America advanced combat helmet market. Recently, in 2017, an amount of $98 million was granted to Revision Military, a headwear company, in order to meet the demand of the U.S. Army for 293,870 units of Advanced Combat Helmet Generation II. The new version of the helmet holds four-point retention coupled with a pad suspension system, which attaches to the shell with ballistic-resistant hardware. Moreover, these helmets are 24% lighter than the previous models in order to eradicate unnecessary stress for the soldiers.”
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Countries such as the U.S., India and China have significantly uplifted their defence budgets within the last decade. The future estimate for the 2019 defence budget of the U.S. is expected to reach $886 billion which will outstand the budgets of all the major defence spenders combined including China, India, Russia, Israel and others. Such trends in the military spending, which are allotted for both national security and soldier provisions, clearly depict that the defence authorities are getting highly concerned regarding the security of both the citizens and the soldiers. Recently, the Indian army sanctioned 159000 new advanced bullet proof helmets for their soldiers.
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Advanced combat helmet market witnesses a series of advancements in the design and development of combat helmets
Since the introduction of combat helmets during the World War I, the combat helmets have evolved in terms of their structure, material, design, and support systems such as chin strap and liners. Market players are adopting advanced manufacturing technologies to meet the rising demand for light-weight and enhanced combat helmets. In addition, technical advancements such as incorporation of night vision cameras, microphones, and earphones within the combat helmets are expected to render huge opportunities for the market to expand rapidly, especially among the developed and strong economies.
North America gained the lions share in the global advanced combat helmet market, owing to the surge in its military expenditure
Since 2016, North America has been experiencing a sudden hike in its military expenditure. The US, which holds the world’s largest military power of the world, has recently proposed a military budget of nearly $700 billion for 2018, increasing the 2017 defense budget of 612 billion USD by more than 10%. The U.S has always been active in deploying its troops for not only internal security issues but also external issues such as terrorism by Taliban in Afghanistan, ISIS in the Middle-East and various other military operations. Advanced combat helmet has experienced a wide adoption within the U.S. Army and has played a substantial role in the Middle East campaigns. The region accounted for nearly 36% share of the overall market and is expected to maintain its dominance throughout the forecast period.
ASIA PACIFIC ADVANCED COMBAT HELMET MARKET SIZE BY COUNTRIES, 2017-2025
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KEY FINDINGS OF GLOBAL ADVANCED COMBAT HELMET MARKET, 2017-2025
* India is expected to grow with the highest CAGR of 11.3% in the Asia-Pacific advanced combat helmet market, owing to the constantly growing defence budget and surging R&D activities.
* The homeland security segment is anticipated to grow with the highest CAGR of 6.7% during the forecast period due to the increasing internal and external security threats.
* Asia-Pacific is expected to grow with the highest CAGR of 8.7% during the forecast period 2018-2025.
GLOBAL DEFENCE BUDGET SHARE OF COUNTIRES HAVING HIGHEST DEFENCE EXPENDITURES, 2017
Some key market players are Armorsource LLC, BAE Systems, Gentex Corporation, Honeywell International Inc., Morgan Advanced Material Plc, Revision Military, Ceradyne Inc., and Point Blank Enterprises Inc.