Defense Equipment Packaging Market: Introduction
- The global defense sectors is expanding consistently and the expansion is not limited to self-protection but has found opportunities in multinational supplies by transfer of technology and supplies of material and equipment through strategic alliances and pacts
- Technological advances in the field of engineering, chemical, electronics have increased the use of machine and equipment in the defense sector. Thus, packaging and labeling of military-grade weapons and other systems needs to provide complete protection against pathogens, dust, EM waves, and other penetrating natural or manmade factors. If these aren’t met, the mission is considered compromised, as it may cause personnel and monetary losses apart from compromising safety of others.
- Defense systems are to be transported from the development center to military bases that are majorly present in critical environmental conditions. Therefore, packaging is important for the safety of national security equipment, arms, machines, explosives, and electronic systems.
- Defense forces use heavy-duty plastics and other materials to protect and transport their arms & ammunition and electronic systems. Some of these include barrier bags, anti-static bags, military pouches, and armored crates / engineered timber crates.
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Increase in demand due to rise in global security concerns
- Budget for the defense and military sector in virtually every country is increasing, which in turn fuels the need for different military equipment in the wake of threats to national security
- Technology advances at a rapid rate have increased the risk of threats to national security. This in turn is prompting defense administrations across the globe to procure new technology for their forces such as advance observatory systems, patrolling vehicles, robots, and drones and aerospace equipment
- Expansion of the defense sector is further boosting the need for transportation and packaging as equipment needs to travel safely from one location to another, ensuring protection from damages during freight, the harsh environment, and chemicals
- Changes in international trade agreements is likely to disrupt the global supply chain and increase costs. Increasing global defense spending would continue to create opportunities for defense contractors and their supply chains.
North America to Hold Prominent Market Share
- North America is a prominent manufacturer and exporter of defense equipment and hence, holds a notable share of the global defense equipment packaging market. Demand for military equipment is increasing, as governments across the globe focus on military modernization, owing to increasing global security concerns. The uncertainty and sustained complexity of the international security environment worldwide is likely to boost global defense spending over the next five years.
- European is also witnessing an increase in budget for defense forces in countries such as France, Germany, while Russia being the second-largest exporter of arms and ammunitions is estimated to offer significant opportunities to the market during the forecast period
- Asia Pacific is home to countries such as India, China, and Japan and the budget for the defense sector in these is projected to expand at a notable pace. Presently the largest importing region attracts huge investments by major players in the defense sector, which in turn is estimated to fuel the share by Asia Pacific in the global market.
- Countries in the Middle East, such as the UAE, Saudi Arabia, and Israel, are spending considerably on defense and are likely to offer significant opportunities to the defense equipment packaging market during the forecast period
Key Players in Defense Equipment Packaging Market
Key players include:
- GWP Group
- Quality Foam Packaging
- Export Corporation
- Kampi components
- Mil-Spec Packaging of Ga., Inc.
- SAARC Cases
- Vega Aviation Products
Defense Equipment Packaging Market Scope
Defense Equipment Packaging Market, by Type
- Corrugated boxes
Defense Equipment Packaging Market, by Material
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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