Ballistic Protection Eyewear Segment to Dominate APAC Military Protective Eye-wear Market during 2021–2028
According to The Insight Partners market research study on “APAC Military Protective Eye-wear Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User” is expected to reach US$ 53.38 million by 2028 from US$ 32.05 million in 2021. The market is estimated to grow at a CAGR of 7.6% from 2021 to 2028. The report provides trends prevailing in the APAC military protective eye-wear market along with the drivers and restraints pertaining to the market growth. Emergence of laser protection eye-wear is the major factor driving the growth of the APAC military protective eye-wear market. However, issues associated with the high cost associated with military protective eye-wear hinder the growth of APAC military protective eye-wear market.
The APAC military protective eye-wear market is segmented into type, end user, and country. Based on product type, the APAC military protective eye-wear market is categorized into safety eye-wear, ballistic protection eye-wear, and laser protection eye-wear. The ballistic protection eye-wear segment dominated the market in 2020 and laser protection eyewear segment is expected to be the fastest growing during the forecast period. Based on application, the APAC military protective eye-wear market is bifurcated into paramilitary forces and armed troops. The armed troops segment dominated the market in 2020 and paramilitary forces segment is expected to be the fastest growing during the forecast period. Based on country, APAC military protective eye-wear market is classified into China, India, Japan, and Rest of APAC.
The military electronics industry was hit hard in APAC region during the first half 2020 leading to massive decline in revenues across the stakeholders. The tremendous spread of the virus across the region resulted in declined military operations, declined movement of military aircraft, and disrupted supply chain across the military electronics sector, and lower defiance electronics expenditure across different countries in order to fight the economic crisis caused by the pandemic during FY 2020. Moreover, most of the countries across the Asia Pacific region have lost a lot of revenues from their respective defense companies. For instance, Indian defense companies had already lost approximately US$ 3 billion in revenues between March-May in FY 2020 which has also affected 100 large defense firms and nearly 4,000 small and medium aerospace and defense businesses. The lockdown has also impacted the supply of local and foreign material for 50 major defense projects. In addition, as per the current scenario, the Indian-made weapons and platform are designed to use 10-20 percent of imported components.
Blueye Tactical Eye-wear; Bolle Safety; Eye Safety Systems, Inc. (ESS); Gentex Corporation; Perriquest Defense Research Enterprises; Shalon Chemical Industries Ltd; and Wiley X, Inc are among the leading companies in the APAC military protective eye-wear market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Bollé Safety, a specialist in the development of personal protective equipment (PPE) eye-wear, has announced a partnership with Welsh firm, RotoMedical.
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