Research and Development in Manufacturing Technology of Body Armor Drives Market
The ongoing soldier modernization programs initiated by several governments across the globe are augmenting the sale of body armor. Organizations are also investing in state-of-art armor as they come with enhanced mobility, lethality, sustainability, and survivability, states Research Report Insights. The increasing investments in research and development activities to develop light-weight materials and to incorporate technical precision in manufacturing body armor suits is likely to drive the growth of the market in the near future. The rising threats of terrorism due to political instability are also expected to boost the demand for body armor in the near future.
The report states that the opportunity in the global body armor market was worth US$3.30 bn in 2014 and is expected to reach US$4.33 bn by the end of 2021. Between 2015 and 2021, the overall market is projected to expand at a CAGR of 4.0%. The global market will also receive an impetus from laws mandating use of body armor among law enforcement and military personnel, as is seen across the U.A.E. Furthermore, the investments made by Brazil, Russia, the U.S., and India to develop sophisticated materials will also enhance the quality of body armor in the near future, thereby propelling their demand.
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Demand for Type IV Body Armor Projected to Remain High
The types of body armor available in the global market include type I, type II-A, type II, type III-A, type III, and type IV. The type IV body armor is being widely adopted by militaries across the world as they lend among the highest levels of protection. This armor claims to protect against .30 caliber armor piercing bullets along with single-hit protection from the type I, type II-A, type II, and type III threats. Replacement of obsolete armor with advanced versions will also propel the sale of type IV body armor in the coming years. Owing to these reasons, the type IV body armor segment is expected to expand at a CAGR of 3.6% between 2015 and 2021 in terms of revenue.
High Incidence of Handgun Crimes Attributable to North America’s Leading Position
North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific are the key regional segments of the global body armor market. Of these, North America held a leading share of 50.3% in the global market in terms of revenue. By the end of 2021, this share will rise marginally to 50.4%. The persistent acquisition of advanced equipment by military organizations in the U.S. is the primary growth driver for the body armor market. Furthermore, the high incidence of handgun crimes is also likely to spur the demand for body armor during the forecast period.
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Some of the leading players in the global body armor market are Honeywell International Inc., Point Blank Enterprises, Inc., BAE Systems, Inc., Sarkar Defense Solutions, MKU Pvt. Ltd., and Safariland, LLC. Companies will have to focus on achieving technological precision to add features to body armor that not only prevent injury but also reduce the level of trauma. In the near future, players focusing on research and development are likely to garner the biggest shares in the overall market.
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The integration of cloud and sensor-based capabilities in RFID tags are anticipated to exhibit further lucrative expansion prospects to the market players.The worldwide market for RFID tags is foreseen to register a remarkable 10% CAGR for the duration of the forecast.
The market is estimated to be accounting for close to US$ 8,437 Million by 2015 end escalating from an evaluation of higher than US$ 3,992 Million during 2017.Request For Report Sample: https://www.researchreportinsights.com/report/sample/110115026/RFID-Tags-Market Organizations all over the world are concentrating on incorporating RFID with IoT for recognizing an object along with its real-time location for the ease of its consumers.
This is likely to prompt the increasing need for RFID tracking solutions for big data and loT platforms by organizations providing such technologies all over the world, for the most part in emerged regions.
Emerging regions, for example, China and India are possibly going to foresee an expansion again with overwhelming investments from non-government and government investments.
In North America municipal solid waste management organizations are continuously buying RFID labels.
Owing to the benefits offered, RIFD tags are employed in various applications such as healthcare & medical, retail & consumer goods, logistic & transportation, government, automotive, agriculture, farming & livestock, aerospace & defense, and others.Request Report Discount: https://www.researchreportinsights.com/report/discount/110115026/RFID-Tags-Market The logistics and transportation category rose as the foremost application area for RFID tags all through 2017.
According to a new report published by Allied Market Research, titled, PPE Gloves Market by Material, Product type, and Application: North America Opportunity Analysis and Industry Forecast, 2018-2025, the North America PPE gloves market was valued at $2,406 million in 2017 and is estimated to reach $3,750 million by 2025, growing at a CAGR of 5.75% from 2018 to 2025.
The reusable segment accounted for more than 81% share in terms of value in the North America PPE Gloves market in 2017.Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4828Personal protective equipment (PPE) gloves are used as protective equipment in various industries such as automotive, food and healthcare, to ensure workers safety and maintain hygienic conditions at work places.
These gloves help avoid cross contamination and exposure to particulate matter during the manufacturing process across various industries.
The rise in awareness about work safety, rapid increase in the pharmaceutical and food processing industry are some of the key factors that drive the growth of the North America PPE gloves market during the analysis period.Based on material, the North America PPE market is segmented into nitrile, latex, neoprene, butyl rubber, and other gloves.
The nitrile segment is projected to be the most lucrative segment during the forecast period owing to its resilient properties, such as flexibility, suppleness, and elasticity, which boost its adoption in cleaning labs and industrial operations.Get Detailed COVID-19 Impact Analysis for This Report: https://www.alliedmarketresearch.com/request-for-customization/4828?reqfor=covidBased on application, the North America PPE gloves market is classified into chemical, automotive industry, healthcare, construction, food & beverage, and others.
The chemical segment is projected to be the most lucrative segment during the forecast period owing to the rise in demand for PPE gloves in specialty, agricultural, commodity, and other pharmaceutical and chemical industries to protect the hands of workers.Based on product type, the market is bifurcated into disposable, and reusable gloves.
