The advanced protective gear and
armor industry can be segmented into ancillary components, thermal protective
gear, armors and bullet resistant equipments, and other chemical and biological
materials. Ancillary components include gloves, heads, respirators, etc. which
accounts for nearly 60% of the total advanced gear and armor market. The
industry is primarily driven by the fight against terrorism, and it is unlikely
to halt in the next six years due to the current terrorist and geopolitical
events. The demand for advanced gears and armors is increasing due to
technological advancement in industrial areas, external and internal security
threats, modernization, territorial disputes, and shortage of available gears
and armors. The market is moving forward due to the innovations in products and
materials, improved safety levels and comfort, and advanced hybrid
designs.
To
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Some of the factors restraining the
growth of this industry are standards and regulations passed by military
services and environmental regulatory authorities. The major challenge faced by
the industry is the designing of lightweight armors for reducing the burden of
soldiers. The supply chain of the industry is very complex as each component of
the supply chain plays a vital role in the smooth functioning of the industry.
The supply chain includes government for setting standards and regulations,
manufacturers, fabricators, distributors and so on. There is a huge growth
opportunity in women armor designing and manufacturing as this industry is
still in its nascent stage.
Geographically, North America
dominates the market for advanced gear and armor, followed by Europe and the
Asia-Pacific market. The global market for advanced gear and armor is fairly
consolidated so the growth of small players is declining owing to frequent
mergers and acquisitions in the industry. The prominent market participants in
the industry are BAE Systems, Armor Source, Ballistic Body Armour, Ceradyne,
Defense Industries International, Alliant Techsystems Inc. (ATK), and Mine
Safety Appliances Company (MSA).
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