Various personal protection equipment (PPE), such as body armor, helmets, and protective eye-wear, help military, paramilitary forces, and law enforcement officers defend their eyesight from ballistic, laser, radiological, and NBC threats. The demand for such equipment has increased dramatically in recent years due to increased military activities and operations. Also, due to the elevated potential of attacks by extremist and terrorist organizations using mines, bombs, and NBC or radioactive agents, the investments in developing protective eye-wear systems for military, paramilitary, and police personnel are on rise, which drives the growth of the military protective eye-wear market growth.
Brazil, Colombia, Chile, Argentina, and Peru are among the countries in SAM with high defense spending. In 2020, Brazil’s military spending accounted for ~45% of the South American military expenditure, according to the market research study. In 2020, the Brazilian defense sector received plans to enhance its defense capabilities at regional and international levels. For instance, in March 2020, Brazil and the US signed an agreement for the development of mutual defense capabilities, which was heralded as a significant step to the coordination of joint US–Brazil policy. Brazil stands to be a major recipient of American aid in the expansion of military capacity, while simultaneously aspiring to channel economic growth to enhance its defense capabilities. However, Brazil has spent only ~1.5% (US$ 25.9 Billion) of its GDP in 2019. Currently, Brazil’s defense industry consists of 220 companies and serves ~85 countries worldwide, wherein some of the vendors have also witnessed a decline in their revenues due to demand and supply gap, along with challenges faced by vendors in supply chains, and transportation & logistics industries amid the COVID-19 pandemic.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the military protective eye-wear market in the SAM during the forecast period.
SAM Military Protective Eye Market Segmentation
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3.26 Million |
| Market Size by 2028 | US$ 3.85 Million |
| CAGR (2021 - 2028) | 4.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
|
The South America Military Protective Eye-wear Market is valued at US$ 3.26 Million in 2021, it is projected to reach US$ 3.85 Million by 2028.
As per our report South America Military Protective Eye-wear Market, the market size is valued at US$ 3.26 Million in 2021, projecting it to reach US$ 3.85 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
The South America Military Protective Eye-wear Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Military Protective Eye-wear Market report:
The South America Military Protective Eye-wear Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Military Protective Eye-wear Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Military Protective Eye-wear Market value chain can benefit from the information contained in a comprehensive market report.
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