Top Key Players - Military Protection Glasses Market
The global military protection glasses market size is expected to witness an elevated market growth owing to rising militarization among the emerging economies and increasing technological advancements. This information is provided by Fortune Business Insights™, in its report, titled, “Military Protection Glasses Market, 2022-2029.” Factors such as rising enforcement among law agencies and growing military equipment utilization will fuel the growth of the military protection glasses industry. Also, rising technological advancements in terms of military bases, mine & bomb detection & disposal, armored personnel carriers, and intelligence surveillance & reconnaissance (IR) operations will boost the growth of the market during the forecast period.
COVID-19 Impact
Hindrances in Import-Export to Hamper Market Growth
The outbreak of COVID-19 pandemic has taken a huge toll on the world economy by faltering world trade routes which has left a dent in the demand-supply equation. This pandemic has also left an inequality in supply chain ecosystems, workforce personnel shortages, and disruptions in import-exports. Also, during the peak pandemic outbreak, large amounts of expenditure was focused towards expanding healthcare infrastructure requirements. However, the market is expected to witness a steady growth as world trade begins reviving.
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Segments
On the basis of material, the market can be divided into quartz, polycarbonate, glass fiber, sapphire, and others.
By product type, the market can be broken down into bulletproof, ballistic protection, laser safety, fire resistant, and others.
In terms of military protection, the market can be segregated into tank, military personnel protection, armored vehicle, aircraft, and others.
In terms of region, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Report Coverage
The research study is aimed at presenting a comprehensive analysis by tailoring an in-depth study of various regions. It is crafted by observing and estimating various numerous factors that are based on determining individual region growth in terms of political, technological, social, economic, and environmental status. This section also includes an analytical linkage between the collaborative nature of the dominant market players and how they differ from their rivals. Also, the report also includes in-depth information about value chain optimization, trade regulations, ongoing developments, analytical growth factors, impact of trade in domestic and local organizations, regional expansion, technological innovations, and product approvals.
Drivers & Restraints
Rising Need of Eye Protection in Extreme Conditions to Surge Growth
Higher rate of adoption of eye protective gears for extreme and rugged conditions and rising year-on-year growth in defense spending by various governments will increase the footprint of the military protection glasses market share during the forecast period. Also, increasing technological advancements and militarization & remodeling of law enforcement personnel will boost the growth of the market. Integration of advanced attributes such as high impact resistance, increased optical clarity, enhanced U.V. protection, chemical and scratch resistance, and durability will open new revenue opportunities for the market.
However, high production costs and fewer production hubs will decrease the value of the market. Also, rising initial R&D costs will further dampen the growth of the market.
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Regional Insights
Rising Military Expenditure to Bolster North America Towards a Higher Growth
Higher demand for eye protection is expected from a rising list of applications such as ballistics projectiles and flying debris. Increasing number of prominent players in the region and rising number of military operations worldwide will aid military protection glasses market growth. Rising investment from the private and public sector will further boost the market value. These factors will contribute to the ballooned market value in the region of North America.
Europe is expected to occupy the second largest market share during the forecast period due to rising number of anti-terrorism and peacekeeping operations on a global scale. Rising need for ballistic and laser safety measures will assist in expanding the market.
Asia Pacific will witness the fastest growing CAGR growth due to modernization of several law enforcement agencies and increasing military preparedness by countries.
Competitive Landscape
Prominent Players Strive on Collaborative Strategies to Gain a Competitive Edge
The market contains a blend of big, small, and medium-sized companies that mostly focus on launching novel products for maximizing revenue. Prominent market players are often engaging in acquisitions and joint ventures in order to compete with their rivals. A few others will conduct extensive R&D activities in order to come up with cutting-edge military protection glasses over their counterparts. Additionally, many organizations are currently investing huge sums towards a wide range of R&D activities towards introducing innovative product portfolios in order to keep up with the current demands.
Industry Development
- January 2019: Gentex Corporation recently announced the development of the Ops-Core Mark 1. This eye wear protection equipment is capable of providing customizable protective eyewear in rugged missions for the defense and security forces. This advanced eyewear offers variable levels of protection by increasing their operational performance and are offered in clear, tint, clear & tint, laser dazzle, and high contrast lenses.
- October 2019: Asgard Partners & Co. recently acquired the protective eyewear business side of the Revision Military Ltd. Revision Military Ltd are regarded as one of the world leaders for soldier system solutions and equipment. This sale will include the Revision name and branding, the Essex situated at Vermont 53,000 sq. foot manufacturing division along with their 130 employees.
List of Key Players Present in the Market
- Saint-Gobain Sully (France)
- Koninklijke Ten Cate B.V. (Netherlands)
- Arena Tactical (Arena Industries, LLC) (U.S.)
- Oakley Inc. (U.S.)
- Morgan Advanced Materials plc (U.K.)
- Asahi Glass Co. Ltd (Japan)
- Rheinmetall AG (Germany)
- Gentex Corporation (U.S.)
- PPG Industries Inc. (U.S.)
- Revision Military Ltd. (U.S.)
- Schott AG (Germany)
- Teijin Limited (Japan)
- DuPont de Nemours Inc. (U.S.)
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