The global advanced combat helmet market is predicted to reach USD 3.64 billion by 2027,exhibiting a CAGR of 6.73% between 2020 to 2027. The increasing robust R&D investment by market players for the development of cost-effective and lightweight combat helmets can be an essential factor in augmenting the growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Advanced Combat Helmet Market Size, Share and Global Trend By Material (Ballistic Fiber, Thermoplastic, and Metal), By Application (Military & Defense, and Law Enforcement), and Regional Forecast, 2020-2027” the market size stood at USD 2.31 billion in 2019.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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Market Driver:
Introduction of Technologically Advanced Combat Helmets to Boost Growth
The growing military and defense expenditure for enhanced soldier safety and combat tactical advantage will increase the demand of the market during the forecast period. The rising border disputes, terrorist activities, andnational security threatswill have a tremendous effect on the market in the forthcoming years. The increasing focus of manufacturers towards the development of lightweightand fireproof army helmets with improved protection will subsequently boost the growth of the market. For instance, in 2019, JARVISH Inc, a leader in smart 5G+AI+AR wearable devices announced the introduction of augmented reality (AR) smart combat helmet system after receiving approval from Taiwan’s NCSIST (National Chung-Shan Institute of Science and Technology). The advanced AR helmets are equipped with transparent heads up display, 4k night vision camera, AI-assisted threat detection, and situational awareness, an intrinsically safe military-grade battery, and long-range broadband ad hoc communication. In addition, the increasing emphasis of various countries on public safety & law enforcement, disaster management & first responders, along with government critical infrastructure security will foster healthy forthcoming years.
Regional Analysis:
Modernization Programs to Enable Speedy Expansion Growth in North America
North America is predicted to rise excellently during the forecast period owing to the increasing defense expenditure in the US and Canada. The increasing R&D activities and military modernization programs will consequently foster the growth of the market in the forthcoming years. Asia Pacific is expected to witness a substantial growth rate in the forthcoming years. The growth in the region is attributed to rising government inclination towards border security. The rising demand for advanced combat helmets in countries such as China, India, and Japan will further promote the development of the market in the region. Similarly, the increasing cross-border conflicts and terrorist attacks will impel countries to improve their military programs, which in turn, will augur well for the market in Asia Pacific. Europe is expected to grow rapidly due to the presence of major manufacturers in the region. The ongoing development for enhanced and robust combat helmet will subsequently boost the growth of the market.
Key Development:
March 2018:3M, an American multinational conglomerate signed a contract of USD 34 million with the U.S. Army for the supply of ballistic helmet.
The Report Lists the Main Companies in the Advanced Combat Helmet Market:
- ArmorSource LLC(The U.S.)
- BAE Systems (The U.K)
- GENTEX CORPORATION (The U.S.)
- Morgan Advanced Materials (The U.K)
- Revision Military (The U.S.)
- 3M (The U.S.)
- MKU Limited (India)
- Honeywell International Inc. (The U.S.)
- Point Blank Enterprises Inc. (The U.S.)
- DuPont (The U.S.)
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