Tag: Military

Aviation Connector Market Worth $7.2 Billion By 2027

The global aviation connector market size is expected to reach USD 7.2 billion by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increased manufacturing of new aircraft in the commercial and military sectors for replacing the lesser efficient fleet. 

The governments of prominent countries such as U.S., Singapore, India, and China are making significant investments for upgrading their military jets and aircraft fleets, which are specially designed for harsh weather and war conditions. Moreover, the introduction of new technology and solution in business jets, commercial and general aircraft avionics systems such as real-time weather technology, supersonic avionics, and Open Mission Systems (OMS) Software is also expected to provide an impetus to market growth.

The manufacturing of electronic boards and controls for aircraft require a different type of connectors such as PC card, Flat or ribbon Cable, Circular/Cylindrical, Nano, Micro, or Coaxial. The selection of the right type of connector is crucial in determining the functionality and service life of the component and electrical connection. As aircraft fly under high air pressure, the need for a sturdy and reliable connector becomes more vigilant.

The use of advanced aviation connectors contribute towards robust avionic system performance and assist in achieving higher efficiency. With the growing competition, it has become essential for the aircraft manufacturer to incorporate such latest cutting-edge technology and components, which proves beneficial in driving their sales performance. Moreover, vendors in the aviation connector market space are keenly launching new products and adopting an expansion strategy to strengthen their foothold in the market. For instance, in October 2019, the Angelus Corporation division named PIC Wire and Cable launched MACHFORCE, which is a 10G Ethernet connectors line of product. Therefore, competition among the prevailing and emerging vendors is anticipated to intensify further in the next five years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aviation-connectors-market

Further key findings from the report suggest:

  • The commercial segment accounted for over 56% of the revenue share in 2019
  • Revenue from the PCB connector segment is expected to reach approximately USD 1.4 billion by 2027 The growth of the segment is attributed to the need for connecting electrical components securely, which facilitates transmission of signal and power between the boards in the aviation system
  • The North America region is expected to dominate the global aviation connector market by 2027 owing to the presence of a large manufacturing hub for commercial, military, and trainer aircraft
  • Some of the major players operating in the market are Amphenol Corporation; Bel Fuse Inc.; Carlisle Companies Inc.; Conesys Inc.; Eaton Corporation; Esterline Corporation; Fischer Connectors SA; ITT Corporation; Radiall and CONEC Elektronische Bauelemente GmbH; Rosenberger Group; Smiths Group PLC; and TE Connectivity.

Aerospace Parts Manufacturing Market Worth $1.25 Trillion By 2027

The global aerospace parts manufacturing market size is expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing passenger and freight traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to boost the market growth.

A majority of the aircraft manufacturing companies are integrated across the value chain and are highly active in the parts manufacturing process. These companies have in-house production facilities as well as supplier contracts for the procurement of these parts. The manufacturers are also involved in raw material procurement and designing and quality control of the parts offered by third party suppliers.

The market for aerospace part manufacturing is primarily concentrated in North America and Europe, owing to the presence of major aircraft manufacturers. China and India are expected to emerge as the leading markets in the forthcoming years, owing to the rapid growth of aircraft part manufacturing and export activities. The global trade in components and sub-assemblies has increased by approximately 25% during the past decade. However, the sector still remains consolidated with the top 3 countries including the U.S., Germany, and France, accounting for over 60% of the total aircraft manufacturing.

The market has observed a trend of a collaboration of the major companies entering into a joint venture. This helps the companies to sustain in the highly competitive market in terms of geographical expansion, technological advancements, and lowering the risk of failure. This also aids the companies to easily access the market for gaining long term contracts.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aerospace-parts-manufacturing-market

Further key findings from the report suggest:

  • In 2019, aerostructure dominated the product segment, with 52.2% of revenue share on account of the strong replacement rate of aluminum with high-cost composites in fuselage and airframe structures
  • The commercial aircraft segment is estimated to expand at the fastest CAGR of 4.6% over the forecast period, as significant changes are being incorporated into the aircraft structure to reduce carbon emissions by replacing existing parts with lightweight materials
  • The market in the Asia Pacific was valued at USD 149.6 billion in 2019 and is expected to expand at the highest CAGR owing to the rapid growth of the aviation industry, augmenting the growth of MRO services thereby impacting the aerospace parts manufacturing industry on a positive note
  • The aerospace parts manufacturing market has stringent manufacturing norms, safety regulations, and certifications, which restricts the entry of new entrants
  • Emerging players in Asia offering low-cost innovative solutions to the end-users are expected to challenge the established players in North America and Europe, leading to competition disruption in the market

Helicopter Simulator Market Size Worth $1.5 Billion By 2027

The global helicopter simulator market size is anticipated to reach USD 1.5 billion by 2027, expanding at a CAGR of 5.6%, according to a study conducted by Grand View Research, Inc. The growth of this market is attributed to the rising focus towards safety of pilots and passengers, and cost-effectiveness in training catering to high fuel prices and maintenance costs. Increasing need for advanced technology and features to precisely replicate ground and flying conditions for training is also expected the drive the growth of this market.

A helicopter simulator offers several cockpit features along with motion and visual systems within a helicopter shell for training. The device is equipped with advanced features like acceleration onset cueing, collimation, low latency, and Stewart platform. These features enable the device to recreate the environmental conditions like air density, wind shear, and turbulence, which assists the pilot to train under these conditions. This provides the pilot with realistic hands-on experience of handling and operating the aircraft, thereby resulting in increased adoption of the device.

Full Mission Simulators (FMSs) are equipped with features to deliver weapons and ammunition training to the aircrew, which results in the cost of training with actual weapons. FMSs are also capable of creating battle scenarios, which provides training in the detection and engagement of targets. Training on a machine that can simulate real-life situations, results in saving around 45-55 percent cost per hour as compared to training on an actual helicopter. Although, training on the machine is cost effective, the high initial cost of the machine is expected to pose a challenge to the growth of this market.

The military segment held the largest market share in 2019. This high share is attributable to increasing use of the aircraft in military operations. Military forces use machines that can simulate real-time situations for the pilots and train them for possible situations and services like transportations of troops, ammunition, and goods. The commercial segment is anticipated to witness steady growth owing to increasing use of the aircraft in medical emergency services and commercial flying. Rising demand for trained pilots for mail services and business travelling is also expected to propel segment growth in coming years.      

Click the link below:
https://www.grandviewresearch.com/industry-analysis/helicopter-simulator-market

Further key findings from the report suggest:

  • High adoption of full flight simulators is expected to drive the growth of this market owing to the motion and visual effects offered
  • Asia Pacific is anticipated to witness a healthy CAGR of over 5.0% over the forecast period owing to the increase in procurement of helicopters and training of pilots for military and commercial purposes. Additionally, North America dominates the current market with highest revenue share owing to the presence of some major companies in the region
  • The key market players operating in the market are focused on forming mergers and acquisitions. For instance, in March 2019, CAE Inc., announced the acquisition of Bombardier’s Business Aircraft Training Business (BAT). Through this acquisition, the company expects to expand its market reach in the aviation training business, which includes medium and large cabin business jets.

Synthetic Aperture Radar Market Worth $4.98 Billion By 2027

The global synthetic aperture radar market size is anticipated to reach USD 4.98 billion by 2027, expanding at a CAGR of 10.7% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Synthetic aperture radar (SAR) uses a remote sensing technique that generates high-resolution images and can be used for earth observation and surveillance operations. The synthetic aperture of SAR operates at various frequencies and modes, which enable it to take pictures through cloud covers, inclement weathers, and during the day and night. Synthetic aperture radar is compact and light in weight compared to the conventional radars, which is expected to increase the adoption of these devices for space satellite missions and thereby drive the market.

Over the years, SAR has been widely used for military operations, whereas it has also gained prominence in the commercial sector recently. The advanced synthetic aperture technology makes it possible to detect and capture natural disasters, infrastructure damages, archeological artifacts, snow mapping, biomass and vegetation, and oil spillages in oceans, among others. The growing need for tracking and detecting movement, mapping troops, and gathering intelligence data is expected to increase the adoption of these systems in the military operations. Furthermore, synthetic aperture radars can be integrated with unmanned aerial vehicles (UAV’s) and rising usage of UAV for tactical and surveillance purposes is expected to bolster the demand for SAR systems in the market.

The data retrieved from synthetic aperture radar involves using several pre-processing steps and requires a separate software from the service provider to process the data. It may include steps like de-bursting, radiometric calibration, terrain correction, applying the orbit file, and speckle filtering depending on the type of analysis. This tedious process to work with the SAR data is expected to limit market growth. However, the processed images and retrieved data provide a detailed and clear picture of the mapped objects, which is anticipated to drive the market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/synthetic-aperture-radar-market

Further key findings from the report suggest:

  • The growing need for public safety, natural resource exploration, and environmental monitoring has propelled investment from government and independent organizations in the synthetic aperture radar systems industry, thus driving the commercial application segment
  • Asia Pacific is anticipated to expand at the highest CAGR of 14.1% over the forecast period owing to an increase in spending on military missions. The Asia Pacific region is expected to launch satellites in the future, thereby resulting in market growth. For example, the National Aeronautics and Space Administration (NASA) and The Indian Space Research Organization (ISRO) have projected the launch of a dual-frequency synthetic aperture radar NISAR in 2022
  • Key market players operating in the market are focused on forming partnerships with government and other organizations to accommodate important projects and gain competitive advantage. For instance, in June 2019, ICEYE and Asia Pacific Satellite, Inc. entered a strategic alliance to extend ICEYE’s SAR data purchase in South Korea.

Remote Sensing Technology Market Size Worth $29.61 Billion By 2027

The global remote sensing technology market size is expected to reach USD 29.61 billion by 2027, expanding at a CAGR of 11.6% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Remote sensing technology is used to detect and monitor land and weather characteristics by measuring the reflected sunlight and emitted radiation from a satellite or an aircraft. Cameras fitted on the satellite and the aircraft to collect the remotely sensed images, which help organizations observe and analyze the land and forecast weather accordingly. The market is primarily driven by rising investments in earth observation projects. For instance, in August 2020, Indian earth observation startup Pixxel announced it raised investments worth USD 5 million for a constellation of Earth observation satellites.

The growing adoption of precision farming is expected to augment the market growth over the forecast period. The technology is used to identify crop conditions, determine the soil content such as moisture, and estimate the crop production. The health of crops is determined using remote sensing technology to reduce fertilizer usage, which reduces additional costs incurred by farmers. Moreover, the COVID-19 pandemic outbreak has led to the demand for remote sensing technology to monitor and curb the spread of the virus. The technology also helps to keep track of population concentration, determine mobility patterns, and document environmental changes.

The market comprises a high degree of competition due to the presence of numerous companies operating at the global level. These companies are focusing on enhancing their product portfolio to maintain and increase their market share. For instance, in October 2019, Hexagon AB announced the launch of its Power Portfolio which includes the latest version of remote sensing, Geographic Information System (GIS), and cartography products. The new versions have machine learning capabilities that help users address big data management issues.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/remote-sensing-technologies-market

Further key findings from the report suggest:

  • The passive remote sensing segment is anticipated to expand at the fastest CAGR exceeding 8% over the forecast period owing to the rising adoption of passive sensor technology in earth observation satellites
  • The military and intelligence segment held the largest market share of 32.25% in 2019. This share is attributed to the increasing usage of remote sensing technology for surveillance applications
  • The aerial systems segment is projected to expand at the fastest CAGR of over 8% during the forecast period due to the growing usage of UAVs for research and exploration applications
  • North America held the highest market share of 38.12% in 2019. This share is due to the increasing adoption of remote sensing technology in the U.S. for precision farming applications

Aerospace Parts Manufacturing Market Worth $1.25 Trillion By 2027

The global aerospace parts manufacturing market size is expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing passenger and freight traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to boost the market growth.

A majority of the aircraft manufacturing companies are integrated across the value chain and are highly active in the parts manufacturing process. These companies have in-house production facilities as well as supplier contracts for the procurement of these parts. The manufacturers are also involved in raw material procurement and designing and quality control of the parts offered by third party suppliers.

The market for aerospace part manufacturing is primarily concentrated in North America and Europe, owing to the presence of major aircraft manufacturers. China and India are expected to emerge as the leading markets in the forthcoming years, owing to the rapid growth of aircraft part manufacturing and export activities. The global trade in components and sub-assemblies has increased by approximately 25% during the past decade. However, the sector still remains consolidated with the top 3 countries including U.S., Germany, and France, accounting for over 60% of the total aircraft manufacturing.

The market has observed a trend of a collaboration of the major companies entering into a joint venture. This helps the companies to sustain in the highly competitive market in terms of geographical expansion, technological advancements, and lowering the risk of failure. This also aids the companies to easily access the market for gaining long term contracts.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aerospace-parts-manufacturing-market

Further key findings from the report suggest:

  • In 2019, aerostructure dominated the product segment, with 52.2% of revenue share on account of strong replacement rate of aluminum with high-cost composites in fuselage and airframe structures
  • Commercial aircraft segment is estimated to expand at the fastest CAGR of 4.6% over the forecast period, as significant changes are being incorporated in the aircraft structure to reduce the carbon emissions by replacing existing parts with lightweight materials
  • The market in Asia Pacific was valued at USD 149.6 billion in 2019 and is expected to expand at the highest CAGR owing to the rapid growth of aviation industry, augmenting the growth of MRO services thereby impacting aerospace parts manufacturing industry on a positive note
  • The aerospace parts manufacturing market has stringent manufacturing norms, safety regulations, and certifications, which restricts the entry of new entrants
  • Emerging players in Asia offering low-cost innovative solutions to the end-users are expected to challenge the established players in North America and Europe, leading to competition disruption in the market

RF Components Market Size Worth $45.05 Billion By 2025

The global radio frequency components market size is expected to reach USD 45.05 billion by 2025 registering a CAGR of 14%, according to a new study by Grand View Research, Inc. High demand for devices capable of establishing direct wireless connectivity with the internet, including smartphones, tablets, smartwatch, drones, smart television, and smart homes devices is anticipated to drive the market over the forecast period. Technological evolution in the field of wireless communication and developments in materials used for manufacturing RF components, such as Gallium Arsenide (GaAs) and Silicon Germanium (SiGe), is also expected to augment market growth.

These materials allow the integration of digital and analog electronics into a single chip, thus lowering the cost of the components manufactured. These components find applications in several industries including military, automotive, and consumer electronics. The consumer electronics application segment is estimated to witness substantial growth in coming years owing to increasing consumer spending on electronic devices, such as tablets, personal computers, laptops, and smartphones, as a result of rising disposable income levels. Moreover, the development of innovative RF technologies offer products with a dynamic power range, higher frequencies, and lower noise parameters, enabling design of next-generation electronic components. Increasing popularity and adoption of high-speed networks, such as 4G and 5G, have significantly impacted the product demand.

According to the International Telecommunication Union (ITU), the global mobile cellular telephone subscriptions gradually rose from 7,181 million in 2015 to 8,160 million in 2018. Moreover, the number of internet users stood at 3,170 million globally in 2015, which further increased to 3,896 million in 2018. The trend, showing a steady rise in the number of subscribers of internet andmobile cellular telephone across the globe, is likely to have a positive impact on the growth prospects of the market in near future. Escalating demand for wireless communication solutions, including 5G, to enable wider channel bandwidths and greater data capacity than current or previous generation networks has resulted in the increased need for advanced RF solutions, such as switches, integrated modules, phase shifters, and other high-performance RF solutions.

Furthermore, operating frequency of 5G ranges from 24 GHz to 95 GHz, providing high-data-rate wireless connections, such as 4K/8K ultra High-Definition (HD) TV streaming. Due to this, there is an increased demand for RF components in wireless devices to offer greater coverage area and reduced latency of 5G networks. On the other hand, rise in the prices of raw materials is expected to negatively hamper the market growth. Based on competitive dynamics, the vendor landscape of the RF components market is highly fragmented in nature, resulting in intense competition by key companies and causing variation in price margins. Prominent companies in the market include Taiwan Semiconductor Manufacturing Co. Ltd.; Texas Instruments, Inc.; Renesas Electronics Corp.; and NXP Semiconductors N.V.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/radio-frequency-rf-components-market

Further key findings from the report suggest:

  • The power amplifiers product segment accounted for over 30% of the overall share in 2018 and will expand further over the forecast period due to increased demand for 4G handsets
  • Filters segment is also likely to grow significantly due to wide usage of mobile computing devices and need to support various network spectrums for efficient coordination of wireless communication devices
  • Consumer electronics application accounted over 60% of the overall share in 2018 and will attain a substantial growth from 2019 to 2025
  • Increased consumer spending on smartphones, tablets, smart homes, and several other portable electronic devices is anticipated to be the key factor driving the consumer electronics segment
  • North America accounted for around 28% of the global revenue in 2018. High demand for better mobility solutions is anticipated to drive the regional market further
  • Asia Pacific is expected to be the fastest-growing RF components market from 2019 to 2025 due to increasing adoption of improved connectivity solutions and growing number of internet users in the region
  • Key companies in this industry include Aixtron SE, NXP Semiconductors; Avago Technologies Ltd.; RF Axis; Texas Instruments, Inc.; STMicroelectronics Fujitsu Ltd.; Freescale Semiconductor, Inc.; and Renesas Electronics Corporation
  • Industry participants compete on the basis of development of efficient components that offer faster access to high performance, mobile data, cost effectiveness, and flexibility to support the corresponding solution

Aerospace & Defense Materials Market Worth $28.37 Billion By 2027

The global aerospace and defense materials market size is expected to reach USD 28.37 billion by 2027, registering a revenue-based CAGR of 4.0% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing investment in modernization along with expansion of combat aircraft fleet in countries, such as India and China is expected to drive the growth.

The market is expected to benefit from the strong demand for aircraft in the foreseeable future. The number of commercial and cargo fleets around the world is expected to double over the forecast period. The huge surge in passenger and freight traffic is also anticipated to contribute significantly to the increase in aircraft production and demand for aerospace & defense materials.

The aerospace & defense industry has been a long-term promoting factor for the development and application of advanced materials. Leading manufacturers are increasingly adopting a variety of advance materials such as carbon fiber composites and titanium alloys. These materials play an important role in reducing the overall weight and increasing fuel efficiency of an aircraft.

The market players often enter into long-term supply contracts with aircraft manufacturers. The material manufacturers provide highly customized solutions to the component and aircraft manufacturer. Aircraft manufacturers are often involved in monitoring the materials throughout the value chain from design to component manufacturing to ensure the quality.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aerospace-defense-materials-market

Further key findings from the report suggest:

  • Composites is expected to register the highest CAGR of 3.8% in terms of revenue, from 2020 to 2027, owing to the lightweight, high strength, and impact resistance characteristics of the product
  • Aerostructure is estimated to be the largest application segment. It accounted for a revenue of USD 10.37 billion in 2019. However, the segment is expected witness a decline in volume due to increased substitution of metals with composites
  • Commercial aircraft is estimated to witness substantial growth in terms of revenue at a CAGR of 4.1% from 2020 to 2027, owing to increasing demand from developing economies
  • North America held the largest revenue share of the aerospace and defense materials market with 1.8% in 2019, owing to the presence of huge aircraft parts manufacturing industry in the region
  • Major market players focus on mergers and acquisitions to expand their business and technological capabilities. They prioritize R&D of low cost materials that provide high strength

Fire Trucks Market Size Worth $7.41 Billion By 2024

The global fire trucks market size is projected to reach USD 7.41 billion by 2024, at a registering a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for fire trucks owing to rising penetration in application segments, including residential & commercial, enterprises & airports, and military, is expected to drive market growth over the forecast period.

Growing infrastructure in the developing countries including India, China, South Korea coupled with increasing awareness regarding fire safety is expected to drive the demand for fire trucks over the next eight years. The demand in enterprises and airports for fire apparatus and increasing governmental regulations towards ensuring fire safety compliance is expected to be a contributing factor for market growth across the globe.

The market consists of raw material suppliers, manufacturers, distribution channels, and end user applications. The companies including Alexis Fire Equipment Co. and Xuzhou Handler Special Vehicle Co. Ltd. procure raw materials such as chassis and metal sheets required for manufacturing of fire trucks from the local suppliers, as it saves transportation costs. However, few companies including Gimaex International and Albert Ziegler GmbH purchase trucks instead of chassis from established truck manufacturers such as MAN and Scania, install the components and fire equipment, and sell them to the fire departments.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/fire-trucks-market

Further key findings from the report suggest:

  • Residential & commercial application accounted for over 40% of the overall fire trucks market. Growing global population and resultant surge in building & construction activities have led the government to enforce stringent fire safety regulations across all sectors. This resulted in a significant increase in demand for fire trucks and is expected to drive market growth significantly over the forecast period.
  • China demand for fire truck was valued at over USD 650 million in 2015. High production capacity coupled with inexpensive labor are expected to be the driving forces for rising demand and supply for fire trucks in the country.In addition, growing application in manufacturing sector and residential sector is expected to aid market growth in China.
  • North America accounted for a large share of the market, and is expected to witness significant growth, growing at over 6% over the forecast period. Large number of fire stations and stringent regulations regarding fire safety are expected to be the key factors for market growth in the region.
  • The market in Europe, Middle East & Africa (EMEA) is expected to grow at a CAGR of over 5%. Product innovation, coupled with technological advancements in the industry, is expected to be the drivers of the EMEA market. However, high import prices are expected to restrain the market growth in Middle East & Africa.
  • Key players in the industry include Rosenbauer International AG, Oshkosh Corporation and Magirus GmbH. Auxiliary Power Unit is an idle-reduction technology designed by Rosenbauer International AG, specifically for use on fire apparatus; this is expected to save operating costs of endusers by a huge margin.

Safety Eyewear Market Size Worth $3.0 Billion By 2025

The global safety eyewear market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% over the forecast period. The market is expected to witness significant growth due to increase in demand for protective equipment from various end-use industries. Strict regulations laid by the regulating bodies like the Occupational Safety and Health Administration (OSHA), along with various product offerings made by manufacturers in this market, have positively impacted growth.

Industrial manufacturing held a major share of the global market owing to the hazardous nature of the jobs in this sector. Moreover, many strict precautionary regulations have been imposed on the employers and the workers in this sector to increase adoption of protective equipment and prevent fatal injuries. The military application segment is expected to expand at the highest CAGR in the forecast period. Manufacturers are targeting this segment to provide more customization and increase their product offering as governments are investing heavily in the safety of military personnel.

The non-prescription product segment accounted for a significant share in the market. The prescription segment is anticipated to witness growth due to increasing demand for customized eyewear for individuals using spectacles for regular vision. Additionally, manufacturers are providing consultation services and trial products before buying safety eyewear. This is expected to propel the growth of the prescription segment, thereby driving the overall market demand.

Asia Pacific is anticipated to witness substantial growth in the coming years due to increasing industrialization, especially in China and India. U.S. was the largest consumer of protective eyewear in the world, followed by Germany, owing to implementation of stringent regulations by various governing bodies.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/safety-eyewear-market

Further key findings from the study suggest:

  • Based on application, the construction industry is expected to expand at a CAGR of 4.2% over the forecast period. The industrial manufacturing segment dominated the market in 2018 and accounted for more than 30% share of the overall revenue
  • Application of the product is expected to grow in the military sector in developing countries including India, South Korea, China, and Japan owing to heavy expenditure on the defense industry and protection of personnel
  • The industry is highly competitive in nature due to presence of the key players including 3M Company, Bolle Safety, and Honeywell Safety Products
  • Various manufacturers are concentrating on research and development to augment product innovations and product offerings
  • In December 2016, Hoya Vision acquired the safety prescription eyewear business of 3M Company. This acquisition expanded the product portfolio of Hoya Vision and enabled it to enter the safety eyewear market.