COVID – 19 Scenario Analysis:
- Even while the world is tackling COVID- 19 pandemic, still all the military procurement is continuing in almost every country, because national safety is foremost important.
- Big spenders on defense such as the U.S, Russia devote approximately 4 percent of their GDP to defense, a substantial amount.
- However, the stringent conformity standards set by standard regulatory bodies in different countries demand that players invest more, thereby increasing their R&D (R&D) costs.
- Due to the permanent closure of manufacturing facilities in different countries exporting arms and equipment, a slight decline is expected in 2020-2021 as a result of the ongoing COVID-19 pandemic.
- The lack of supply of Chinese manufacturers of raw materials has led to a severe demand-supply gap. Moreover, raw material orders are likely to hinder the producers, as the logistics industry has been seriously affected by the lockdown in the COVID-19 crisis.
- However, the producers are expected to withdraw from China to minimize potential market risks and reduce the cluster of manufacturers in a single country to crawl up the supply chain.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increasing government requirements for soldier protection as well as fighting terrorist attacks & insurgency will propel the growth of the advanced combat helmet industry over the coming years. Besides this, cross-order breaches, internal issues, and nation disturbances or insurgencies are anticipated to proliferate global demand for advanced battle helmets. Besides, to shield their soldiers and law enforcement officers from head injuries caused by bullets, IED fires, and shrapnel, the security sector is extensively implementing advanced battle helmets. Also, India, for example, focuses on security cooperation, economic development, and police modernization which reduces the dependence of state governments on the Army and the Central Armed Police Forces by strengthening their existing structure which would also give a boost to bulletproof helmet market growth. However, the high cost of the helmets & malfunctioning of a few technologies could hamper global market development.
The Global Bulletproof helmet market trends are as follows:
New product launches to flourish the market
An Indian Army Major who had developed a bulletproof jacket for sniper bullet protection has now developed a helmet in February 2020, that is claimed to be the first in the world to be able to stop an AK-47 bullet round from a 10-meter distance. Also, 3M Co. has completed a $91 million sale of its combat equipment operations to Avon Rubber, the company announced in 2020. The armor company, which sells helmets and weapons made of polyethylene fibers resistant to bullets, generates around $85 million annually. Also, for its ground-based armed forces, the U.S. launched its second-generation Integrated Head Protection System (IHPS) in 2019, which is nearly 50% lighter than its predecessor version.
Extensive R&D towards developing new protection materials along with advancements in nanotechnology
Growing concerns about combatant safety have prompted a range of manufacturers to focus on creating respiratory and fireproof helmets to shield the wearer from slash attacks. The manufacturers are moving towards the use of new, solid, and lightweight materials such as aramid fibers, titanium, aluminum, ceramic, and polymer to reduce weight and increase armor system efficiency. Such lightweight materials increase the helmet’s mobility and durability and provide effective safety. The UN and NATO peacekeeping forces are now using ceramic-plated armor vehicles to defend themselves from mines, aerial fire, artillery, and shrapnel from the mortar.
Also, the increasing use of nanotechnology materials and fibers is one of the main trends affecting the global bulletproof market. Traders have begun to use unique fabrics in helmet manufacturing to increase the effectiveness of troops, to protect police and ballistic protection. Improved nano-properties include lower weight, increased power, improved durability, enhanced reactivity, and ability to modify or change certain features. These features are very useful in reducing soldiers’ protective gear weight and improving survival rates.
Key benefits of the report:
- This study presents the analytical depiction of the global bulletproof helmet market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the Bulletproof Helmet Market research report:
- What are the leading market players active in the bulletproof helmet market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?