Global Military Footwear market will reach 5587.58 million US$ by the end of 2025
Published Date: 2018/10/29
The global Military Footwear market is valued at 2595.14 million US$ in 2017 and will reach 5587.58 million US$ by the end of 2025, growing at a CAGR of 10.06% during 2018-2025.
Military Footwear are Combat Footwear designed to be worn by soldiers during combat or combat training, as opposed to during parades and other ceremonial duties. Modern military Footwear are designed to provide a combination of grip, ankle stability, and foot protection suitable for a rugged environment.
The Global Military footwear market was 2595.14 million USD in 2017 and is projected to reach USD 5587.58 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 10.06% between 2017 and 2025. The market is driven by military and civil use. The key players are Belleville Boot, Wolverine Worldwide, Iturri, Haix, McRae Industries, Rocky Brands,New Balance, Weinbrenner Shoe, LOWA, Meindl Boots, BTK Group, Butex, Altama and so on.
Global military footwear is showing a steady growth at present owing to the rapid expansion of the footwear industry coupled with increasing focus on military footwear. Due to the intensification of military activities and the increasing number of enthusiasts of military footwear, the market for military footwear presents a good and steady growth.
The influx of new and innovative designs coupled with increasing consumer awareness about trendy and characteristic military footwear are among the major factors fueling the growth of the market. Moreover, consumer’s changing lifestyles, preference, increasing demand, comfort, and stylish products further boosting the market of military footwear.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.
Despite the presence of competition problems, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive. The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field. This is the end of Military Footwear report.
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