The competitive landscape of the global advanced combat helmet is expected to remain largely unchanged over the coming years, with established names such as Gentex Corporation, MKU Ltd., ArmorSource LLC, and BAE Systems expected to retain significant shares through the 2016-2024 forecast period. In spite of the dominance of the established players, certain emerging companies such as DuPont and Revision Military also look set for steady growth in the advanced combat helmet market in the coming years.
Brand value is the determinant factor when it comes to claiming long-term dominance in the advanced combat helmet market. The scope of entry for new players in the advanced combat helmet is extremely low in the coming years due to the complicated regulatory framework governing the market across the world. The initial investment requirements of the advanced combat helmet industry are also quite high, which further elevates the entry barriers of the market. The strong foundations of the aforementioned leading companies are thus likely to enable their steady dominance in the global advanced combat helmet market in the coming years.
According to Transparency Market Research (TMR), the global advanced combat helmet market is expected to reach a value of US$3.1 bn by the end of 2024. This represents growth at a sustained CAGR of 6.3% upon the market’s 2015 value of US$1.88 bn.
Increasing Need in Urban Warfare to Drive Demand for Advanced Combat Helmets
The prime driver for the global advanced combat helmet market is the rising prevalence of terrorism and insurgency in various parts of the world. This has prompted military action led by several countries, leading to a steady rise in demand for advanced combat helmets. The high risk of terrorism across the world is likely to ensure steady growth of the advanced combat helmet market in the coming years.
In addition to major global conflicts, curbing urban warfare has emerged as a key issue in front of several governments in the world. The inevitable escalation of means in urban warfare has led to a steady demand for advanced combat helmets from police forces across the world. This is likely to remain a key driver for the global advanced combat helmet market in the coming years, as the illicit drugs trade, human trafficking, and other such concerns are unlikely to abate in the near future.
On the other hand, the rising costs of improving the resistance of combat helmets, due to the increasing technological sophistication needed for the research, are expected to be a key roadblock for the global advanced combat helmet market in the coming years.
North America to Remain Leading Regional Market, APAC to Exhibit Rapid Growth
Geographically, the global advanced combat helmet market is dominated by North America. The strong presence of the defense sector in the U.S. is likely to ensure steady growth of the advanced combat helmet market in North America in the coming years. With a 60% share in the volume of the North America advanced combat helmet market, the U.S. is likely to remain the leading regional market for advanced combat helmets in the coming years. Europe is also likely to remain a leading consumer of advanced combat helmets due to the steady demand from developed Western European nations.
Due to the rapid rise of Asian economies such as China and India, the advanced combat helmet market has found a steady sales outlet in Asia Pacific. These two countries have been among the highest spenders on defense in the last few decades and have dedicated significant funds to consistent betterment of their armed forces. The steady rise in the demand for advanced combat helmets from Asia Pacific is thus likely to be a key factor in the development of the global advanced combat helmet market in the coming years.
The information in this preview is taken from a Transparency Market Research report titled ‘Advanced Combat Helmet Market (Application - Military and Defense and Law Enforcement Agencies) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’
The global advanced combat helmet market is segmented as follows:
Global Advanced Combat Helmet Market, 2016-2024: By Application
- Military & Defense
- Law Enforcement Agencies
Global Advanced Combat Helmet Market, 2016-2024: By Geography
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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