Recent findings from a month-long deep sea exploration in the South China Sea have shown astounding results pertaining to new materials that can be used to manufacture military and aerospace equipment. The military seeks constant support of such developments to support their critical day-to-day activities. The impact of the recent developments taking place in the sector have impacted the coated fabrics market, as these fabrics are used for different products in the defense industry.
The improved support by the government of various countries to provide better products to their military has facilitated a moderate revenue growth in the global coated fabrics for defense market, which is expected to reach a valuation of over US$ 5,200 Mn by the end of 2028. A recent forecast by Future Market Insights projects the market to grow at a CAGR of 2.9% during the forecast period.
Thermoplastics to Emerge As a Viable Alternative to Rubber for Reducing Fabric Weight
Different materials are being incorporated in various military products and equipment due to their special properties. Thermoplastics is now being given more preference in the global market over rubber as it is considered lighter and more durable. Thermoplastics is also considered to be more efficient as it possesses other special properties such as chemical resistance, strong environment sustainability and convenience in opening and folding. As a case in point, the U.S Army is working on a lightweight hot weather alternative to the current Army Combat Uniform (ACU), which weighs about 1.4 pounds and has a lot of pocket and multiple layers of fabrics.
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Adoption of Electronic Textiles Trending the Global Coated Fabrics for Defense Market
Revolutionary advancements have resulted in the implementation of new technology in many sectors of the global market. This implementation of technology is not just limited to the technical or electronic fields but also to the textile industry. The most evident example of this innovation can be seen in electronic textiles that are widely used by military personnel. This technology integrates miniature electronic components into the textiles used in different military products and equipment. The special features of these textiles such as ballistic protection, embedded sensors, etc. helps military personnel perform their daily operations efficiently. This innovation in military fabric technology is anticipated to boost the growth in demand for lightweight materials, eventually leading to a growth in revenue of the coated fabrics market.
Privatization of the Defense Industry to Introduce New Companies in the Global Market
Privatization of the defense industry will continue to be an important factor impacting the overall growth of the coated fabrics for defense market. Privatization has abolished several barriers to entry of new companies. These new companies will provide the necessary services support and will also lead to a change in the working of the global defense industry. Most of the companies are launching innovative products to sustain in the competitive market of coated fabrics for defense. By introducing new products, a business can target previously untapped markets.
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However, stringent emission norms for coated fabrics is expected to limit the growth of the global coated fabrics for defense market. These norms have resulted in plant closures and restructuring of ownerships and some of the companies have also gone bankrupt in the past.