- The key vendors in the Global Smart Textiles Market for Military 2015-2019 are BAE Systems, Mide Technology, Ohmatex, Royal Ten Cate and W. L. Gore & Associates
London, 31 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Smart Textiles Market for Military 2015-2019. One key trend emerging in the market is the growing use of nanotechnology in smart textiles. Nanotechnology enables the creation of the smart fabric at the microscopic level, leading to enhancements of various functionalities. The overall market is expected to grow at a CAGR of 10.35 percent during the forecast period of 2014-2019.
Governments across the world are capitalizing in the R&D of nanotechnology-based materials and systems for military use including smart textiles for military clothing, protective shelters, and tents. Smart textiles allow various high-tech functionalities such as camouflage in military clothing, ballistic protection capability, technologically enhanced and lightweight clothing for enhanced performance and mobility, and high-tech protective shelters and tents. Some of the key countries acting as catalysts in this market are the US, Japan, South Korea, Taiwan, China, and some of the countries in Europe.
“Standardization allows manufacturers, suppliers, and retailers to connect their businesses with the value chain. It also facilitates transparency in the market and removes trade barriers,” says Faisal Ghaus, Vice President of Technavio Research.
“It provides information on various factors including the suitability of existing test procedures and the production of smart textiles. It also helps to understand the need for the creation of new classifications as per the evolving needs of the market.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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