Analysis of Tactical Vests Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research by Fact.MR, tactical vests market is expected to witness higher growth during the forecast period, as compared to historical years. With the anticipated surge in military expenditure and up scaling of military size across various countries, the tactical vest sales is expected to remain aloft throughout the forecast period.
Tactical vests are becoming mainstream consumer products and are readily available across multiple sales channels, which is encouraging their sales. Multiple pockets of various sizes expand their utility of carrying multiple equipment when outdoor. These functionalities have led to increased demand for tactical vests in the recent past. Now a days, tactical vests are designed with materials that are lightweight, yet robust and comfortable.
While tactical vests have been an integral part of military, their usability have further expanded their user base in the form of hunting, homeland security, law enforcement and outdoor adventures. In the recent past there has been a significant growth in number of hunters and campers across the globe. A considerable number of hunters and campers these days have started to use tactical vests to optimize their tasks and experience.
Tactical vests designed for military applications generally provide two types of protection – against sharp objects such as knives, and against bullets. Bulletproof tactical vests have garnered significant traction in recent times as the countries have been equipping their soldiers with better protective equipment. The special forces in key countries are necessarily equipped with bulletproof safety vests, consequently driving its demand.
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Apart from its designated armed forced, the U.S. has its Special Forces vest program known as SPEAR. The U.S. also uses tactical vests in other non-army personnel such as law enforcement personnel, coastguards, border patrol police, FBI, CIA and customs personnel.
Apart from military, the demand for tactical vests have significantly increased among campers in the recent past. According to North American Camping Report, people from around 77 million U.S. households camp at least occasionally. Most of the campers in the U.S. and Canada usually camp at least thrice in a year.
The increasing number of leisure trips have been escalating the sales of tactical vests in both US and Canada. In the U.S., camping has been traditionally associated with white Americans, which is mostly due to the incidences of racial violence. However, in the recent past, it has been observed that the participation of nonwhite American has risen abruptly. Currently, the nonwhite campers constitute around 26% of all campers in the U.S., an increase by over 50% since 2012. This metamorphosis in the trend has been due to the increase in camping participation of the millennials. It is noted that six out of 10 nonwhite campers are millennials
With US$ 261 Bn military spending, China was the second largest military spender after the U.S. in 2019. The country has seen several neighbouring and distant foes in the recent past which has led the country constantly increase its military budget over the years.
Its tussle with the U.S., India, Japan, South Korea, Vietnam, Malaysia, and Taiwan has encouraged the country not only to invest in traditional warfare mechanisms, but also in new technologies. The country’s People’s Liberation Army (PLA) ranks among the leading militaries equipped with artificial intelligence and anti-ship ballistic missiles. The country’s Strategic Support Force which was established during 2015, is engaged in channelizing electronic warfare, cyber warfare, and psychological operations. These factors expects the region to spend heavily in tactical vests in the coming future.
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Some of the key tactical vests manufacturers include
Most of the key manufacturers of tactical vests have been focusing on winning contracts and orders. In May 2020, Craig International Ballistics won a contract to provide bulletproof vests to Australian Defense Force (ADF).
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The tactical vests market is expected to develop at a CAGR of 4% during the forecast period.
The market is growing since the availability of tactical vests through several distribution channels has helped them become popular consumer goods.
Manufacturers are anticipated to find the most opportunities in the United States.
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