Rising military spending by governments and a notable rise in border conflicts continues to push sales of deployable military shelters on a global level. The global deployable military shelter market will most likely surpass $1 billion by 2029, as projected by a new report.
Witnessing healthy growth in revenues over 2019-2029, demand for deployable military shelters will be prominent in temporary military bases in conflict affected areas as well as overseas, a new Deployable Military Shelter Market Study said.
North America’s deployable military shelter market would register robust growth, driven by increasing spending on military and military personnel by the region’s governments.
Vehicle-mounted shelters are set to witness substantial demand in the deployable military shelter market owing to increase in the need for mobile tactical operation centres.
Sales of polymer-based deployable military shelters continues to grow at a remarkable rate, owing to their lighter weight and higher strength as compared to shelters made from composite materials.
Manufacturers in the deployable military shelter market should eye profits in the military shelters with carbon-hybrid structures. These structures are lighter in weight but have a stronger frame that provides high snow and wind tolerance as compared to their conventional counterparts. They also tend to occupy lesser space volume, thereby reducing storage and transportation costs for the military.
Military Spending on Rise
The global deployable military shelter market is set for witness significant growth in the foreseeable future, attributable to growth in the number of overseas military bases around the world due to political unrest, and war on terror. While the U.S., China, and Russia remain top markets owing to their highest military expenditure, economies such as India, North Korea, and Saudi Arabia also represent lucrative markets for manufacturers of deployable military shelters. This high growth potential is attributable to their expanding military budgets.
Some of the key market players include Alaska Structures, General Dynamics Corporation, and AAR.