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The global advanced combat helmet market size is predicted to reach USD 3.64 billion by 2027. The rising demand for innovative combat helmets with night-vision goggles (NVG), nuclear, biological, and chemical (NBC) defense equipment and communications packages will drive this market during the forecast period, mentioned in a report, titled “Advanced Combat Helmet Market Size, Share and Industry Analysis, By Material (Ballistic Fiber, Thermoplastic, and Metal), By Application (Military & Defense, and Law Enforcement), and Regional Forecast, 2020-2027” the market size stood at USD 2.31 billion in 2019 and is expected to exhibit a CAGR of 6.73% between 2020 to 2027.
Contract won by ArmorSource for Next Generation Ballistic Helmets
ArmorSource LLC, a major producer, and leader of ballistic helmets and Advanced Head protection products and accessories announced that it has received a contract of $17,3 million for Next Generation Ballistic Helmets for the U.S Airforce. The contract will include the manufacturing and delivery of up to 24,300 LGD Sniper Gen II Ballistic Helmets with delivery to the continental U.S. and outside the continental U.S. active duty Air Force security forces squadrons, which is due on Jan 8, 2023. The increasing demand for helmets and ballistic solutions by the United States Army and Marin Corps owing to the reinforcement of defense and law enforcement will have a positive impact on the market during the forecast period. Moreover, the increasing number of contracts by eminent companies for the supply of advanced combat helmets will consequently foster the growth of the market in the forthcoming years. For instance, in October 2019, GENTEX CORPORATION, a major manufacturer of high technology electronic products announced that it has signed a deal with U.S. Special Operations Command (USSOCOM) worth USD 95 million to provide Ops-Core® FAST SF Carbon Composite Helmet System
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Rising Border Safety and Security to Accelerate Business Prospects
The growing requirement for a strong military and defense system due to escalated conflicts between several nations will be a vital factor in augmenting the growth of the market. The global security threats such as terrorist activities, border insurgencies, and border disputes will significantly foster the healthy growth of the market in the foreseeable future. The rising focus of manufacturers for the development of lightweight, cost-effective, and innovative army helmets with enhanced performance will enable speedy expansion of the market. The increasing defense budget in numerous emerging nations will consequently foster the healthy growth of the market. In 2019, the U.S. government announced a defense budget of around USD 686.1 billion for improving the capability of armed forces. Emerging defense powers, such as China and India have increased their fudging for military modernization programs. The increasing crime rate and terrorist activities have led to increased military expenditure. Also, the rising concerns regarding homeland security will fuel demand for the market in the foreseeable future.
Launch of Cutting-edge Technologies by Major Companies to Incite Market Development
The major players in the market are focused on launching products with innovative technologies such as lightweight combat helmets with night vision, head-up displays, secure communication, and others. The advancement in technologies will favor the healthy growth of the market. The increasing emphasis on diversified product portfolio by companies will strengthen their position in the market. The increasing R&D for the development of innovative products will foster the healthy growth of the market in the forthcoming years. In addition, the ongoing contracts of companies will consolidate business and drive the industry.
The Report Lists the Main Companies in the Advanced Combat Helmet Market:
Further Report Findings:
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Value (USD Billion)