Segmentation and Regional Analysis:
The global military helmet market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America had the largest share in 2017, owing to the presence of the key companies such as 3M, Safariland Group, Revision Military, and DuPont, among others. Moreover, North America generates a very high demand for military helmet systems, largely due to the high number of military operations and anti-extremist missions of the region. Furthermore, the US has a high military expenditure and heads in the technological advancements, across the globe, which fuels the market growth. Likewise, Asia-Pacific is expected to be the fastest-growing market for military helmet systems, during the forecast period, due to the significantly rising military expenses by the emerging economies such as China, India, and South Korea. In addition, the region is prone to terror attacks and border conflicts, which drives the demand for the military helmet systems.
Therefore, the global military helmet market is estimated to register a CAGR of approximately 6% during the forecast period of 2018 to 2023.
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Market Scenario:
The nature of warfare has changed significantly over the past two decades. An imperative need has emerged to provide combatants with adequate support to control any collateral damage at the same time. With the simultaneous increase in terror threats and anti-extremist missions, globally, there has been a simultaneous surge in the development of military helmet systems. As a result, the defense authorities around the world are focusing on the development of advanced and lightweight military helmet systems. Meanwhile, the companies are also engaged in the development of the military helmet systems that are small in size and weigh less, which will aid the armed troops during longer missions with reduced fatigue.
In the recent years, there has been an increase in the number of armed conflicts such as the Syrian Civil War, the India-Pakistan stalemate over Kashmir, the Lebanon conflict, the ongoing Israel-Palestine conflict, the Russia and Ukraine conflict over Crimea, and the conflicts between the US and North Korea. Of late, due to the growing disputes, a number of countries have increased their military expenses for the procurement and development of advanced military helmet systems.
Key Players:
The key players in global military helmet market are BAE Systems (UK), 3M (US), Gentex Corporation (US), Safariland Group (US), MKU Limited (India), Eagle Industries (US), Revision Military (US), DuPont (US), Honeywell International (US), Point Blank Enterprises, Inc. (US), ArmorSource (US), and Morgan Advanced Materials (UK).
The demand for military helmet systems has increased in military applications as they help improve the overall ballistic protection along with the capabilities of the troops. As a result, there has been a high demand for the military helmet systems by the armed forces, to protect themselves from any injury. It is expected that the increasing investments in such protective systems would provide numerous opportunities for the market players, in the forthcoming years.
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