June 17, 2024
Military Tactical Vest Market

Military Tactical Vest Market is Primed for Growth with Increasing Adoption of Advanced Materials

Military tactical vests are designed to carry mission-critical equipment like ammunition, communication devices, medical supplies, and other gear. They provide ballistic and stab protection while allowing comfortable mobility. Advancements in materials science have enabled the development of vests offering improved bulletproof capabilities with reduced weight. Kevlar, ultra-high molecular weight polyethylene (UHMWPE), and ceramic/composite plates are some commonly used ballistic materials in tactical vests. The growing needs for personnel survivability and load carriage during combat and special operations are driving the demand for tactical vests.

The Global Military Tactical Vest Market is estimated to be valued at US$ 4.70 Bn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the military tactical vest are 3M, Honeywell International, ArmorWorks, Eagle Industries, BAE Systems, DuPont, DSM, Armorsource, MSA Safety, Revision Military, Gentex Corporation, Ansell, MKU Ltd., Avon Protection Systems, Inc., Ballistic Body Armor Pty. The major players are focusing on developing advanced materials with enhanced ballistic, stab, and fragmentation protection capabilities.

The growing investments in defense modernization programs across countries are fueling the demand for protective equipment like tactical vests. Additionally, the rising threats of terrorism are prompting military and law enforcement agencies to equip their personnel with improved survivability gear.

The key players are expanding their geographic footprint by catering to the rising needs of military forces globally. For instance, 3M acquired MSA Safety in 2020 to expand its military apparel business internationally. Gentex Corporation also aims to leverage partnerships for addressing the demand from Asian and European defense agencies.

Market key trends
One of the key trends gaining traction in the Military Tactical Vest Market Demand is the integration of smart technologies. Vendors are developing vest models embedded with sensors, GPS trackers, and communication systems to provide real-time monitoring and situational awareness. These smart vests help improve response coordination and ensure personnel safety.

Porter’s Analysis
Threat of new entrants: Military tactical vest production requires high capital investment and established supply chains which act as entry barriers for new players.

Bargaining power of buyers: Due to the availability of many established market players, the bargaining power of military and law enforcement agency buyers is high as they can negotiate on price and quality.

Bargaining power of suppliers: The materials required for tactical vest manufacturing such as Kevlar, polyethylene, steel etc. are supplied by few specialized suppliers which gives them negotiating power against buyers.

Threat of new substitutes: There are limited substitutes available for ballistic protection currently, therefore threat from substitutes is low.

Competitive rivalry: being a safety product for armed forces, quality and compliance are top priorities increasing competition.

The North American region currently holds the largest share of the global military tactical vest market owing to major defense spending and ongoing modernization programs by countries like the US and Canada. Asia Pacific is projected to be the fastest growing regional market between 2024-2031 driven by increasing defense budgets and military upgrades in India, China and other Southeast Asian countries.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it