Tactical Vests Market to Witness a CAGR of Around 4%
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.
What Is Driving Tactical Vests Sales?
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.
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Why Portable Tactical Vests Demand Has Been Increasing?
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.
Bulletproof Tactical Vests Getting Significant Traction
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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US Tactical Vests Demand Outlook
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
Asia Pacific Tactical Vests Sales Outlook
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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Who are the Key Manufacturers and Suppliers of Tactical Vests?
Some of the key tactical vests manufacturers include
- Imperial Armour
- Survival Armor
- U.S. Armor Corporation
- BAE Systems
- Sarkar Defense Solution
- VestGuard UK
- Armor Express
- Point Blank Body Armor
- Sioen Blastics
- Honeywell International
- C.P.E. Production.
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).
Tactical Vests Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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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- Standard Tactical Vests
- Protective Tactical Vests
- Knife Protection
- Bullet Proof
By Protection Level
- Level 1
- Level 2
- Level 3
- Level 4
- Homeland Security
- Law Enforcement
- Direct Sales
- Retail Sales
- Specialty Stores
- Online Retail
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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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