Military Tent & Shelter Market to exceed USD 1 Bn by 2027
Published Date: February 2, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Military Tent & Shelter Market size is set to cross USD 1 billion by 2027, according to a new research report by Global Market Insights, Inc.
Growing military expenditures is likely to accelerate the military tent & shelter industry growth. According to Stockholm International Peace Research Institute (SIPRI) the military expenditure grew by 3.6% from 2018 to reach over USD 1.91 trillion in 2019. Rising domestic as well as international conflicts and unstable political situations will further enforce governments to increase their military spending. Global terrorism is a major threat commonly faced by many countries, thereby compelling them to strength and modernize their military.
Rising tensions in many African nations like Sudan, Burundi, Liberia, Democratic Republic of Congo, Ethiopia, etc. has called for increased UN peacekeeping forces in the region. The total expenditure for UN peacekeeping forces for 2020 was around USD 6.5 billion, which is anticipated to grow at a significant rate in future.
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Globally, countries spend around USD 1.91 trillion on defense in 2019, which is approximately 2.2% of the global GDP, or USD 249 per person. The five biggest spenders in 2019, accounted for over 62% of expenditure with USD 1.2 trillion, were the U.S., China, India, Russia and Saudi Arabia. The growing defense expenditure in these countries can be attributed to increasing military recruitment, modernization of conventional weapons and growing post military spending such on healthcare and pension.
Browse key industry insights spread across 130 pages with 91 market data tables & 23 figures & charts from the report, “Military Tent & Shelter Market Size By Type (Rigid, Non-rigid), By Application (Accommodation & Operations, Repair & Maintenance, Storage, Medical Facilities), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Many research activities are carried out in the field of military tents & shelters to improve their efficacy. New materials are being tested in order to reduce the overall weight of military shelters. Use of composite materials is gaining momentum as it significantly lowers the weight of military shelters.
High costs of military shelters are poised to hinder the overall military tent & shelter market. However, evolving needs and increasing research & development activities to modernize products will have a positive market outlook by 2027.
Rapid deployment and ease of portability will influence the growth of rigid military shelters
Non-Rigid military tent & shelter market is projected to witness of about 0.9% CAGR till 2027. Non-Rigid military shelters usually consists of pole & frame supported, combination frame & air supported, air-supported and air-inflated types. They are intended for use in tropical and temperate zones as a command post, battalion aid, fire direction center, or for general purpose use. These shelters can be transported by military vehicle or via aircraft. They are designed to provide a portable tent which is suitable for housing a military command post, military aid stations or for small military staff sections of higher echelons.
Growing geo-political tensions to enhance product penetration within Asia Pacific
In 2020, Asia Pacific held over 20% of the military tent & shelter market share. The growth in the Indian defense industry, is mainly propelled by ongoing rivalry with both Pakistan and the need to counter China. The growing need to secure strategic interests will continue to aid the growth of India’s military expenditure. India, which had past altercation with Pakistan and China continues to share difficult relations with both countries. India shares approximately 3,323 km land border with Pakistan, and 3,488 km border with China, and has territorial disputes over Kashmir, and Arunachal Pradesh. Rising military expenditure, which increased from USD 52.2 billion in 2016 to over USD 65 billion in 2020 will benefit the industry expansion.
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