| The global military shelter market was valued at USD 1.12 billion in 2023 and is expected to grow from USD 1.13 billion in 2024 to USD 1.37 billion by 2032, reflecting a CAGR of 2.4% over the forecast period. In 2023, Asia Pacific led the market, accounting for a 41.96% share. Military tents and shelters are used as protective tents by soldiers to protect them and their equipment. These shelters provide a safe and efficient operational environment for military equipment and personnel. In addition, it also provides increased mobility, great speed for various critical, unfavorable situations and combat operations. Thus, these factors are driving the market growth. List of Key Players Profiled in Report AAR (U.S.) Alaska Structures, Inc. (U.S.) Big Top Manufacturing (U.S.) DEW Engineering and Development ULC (Canada) General Dynamics Corporation (U.S.) J & J. Carter Limited (U.K.) Marshall Aerospace and Defence Group (U.K.) HDT Global (U.S.) Utilitis SAS (France) VELDEMAN (Belgium) Weatherhaven Global Resources Ltd. (Canada) Information Source: https://www.fortunebusinessinsights.com/military-shelter-market-103543 Segmentation: Military Shelter Market By type, the military shelter market is divided into, expandable, personnel, vehicle-mounted, command post, and container. By material, it is divided into composites, and others. By application, it is segmented into, military and homeland security. Based on type, the expandable segment held the largest market share in 2020. This is attributable to its variable geometry. Its dimensions can be changed as per the requirement and it’s easy and efficient in providing safety to military personnel and their equipment in harsh conditions. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. What does the Report Provide? The military shelter market research report offers a comprehensive examination of numerous influences such as the significant drivers and limitations that will influence growth. Moreover, the report delivers insights into the regional analysis that covers diverse regions, contributing to the growth of the market. It comprises a competitive landscape that includes the principal companies and the implementation of strategies to announce novel products, announce mergers, and collaboration to back to the market development. Driving Factor Increasing Defense Expenditure Will Promote Growth Increasing military expenditure and investment around the world is favoring the military shelter market growth. For instance, according to a report by the Stockholm International Peace Research Institute (SIPRI), total global military spending rose to USD 1.98 trillion in 2020. This will increase by 2.6% as compared to 2019. The five biggest defense spenders in 2020 were the U.S., China, India, Russia, and the U.K. These countries accounted for a total of 62% of global defense expenditure. Thus, rising defense spending and rapid expansion of military forces are anticipated to fuel the market during the forecast period. Regional Insights North America to Dominate Backed by Increasing Investment on Military Forces North America is expected to remain at the forefront and hold the highest position military shelter market during the forecast period owing to increasing investments on military forces. The adoption of smart shelters in the region is also boosting the market expansion for military shelters. For instance, in June 2019, the U.S. Army made a contract worth USD 44 million with General Dynamics Corporation to provide them with extended rigid wall shelters, which should be expandable at one side and two-side expandable shelters to the U.S. Army. The region’s market stood at USD 309.9 million in 2020. Asia Pacific is expected to showcase a significant military shelter market share in upcoming years, due to the cross-border issues between India-China, India-Pakistan, and growing terrorism in the region. For instance, in May 2020, Galwan Valley in Ladakh had experienced a violent clash between Indian and Chinese soldiers. Competitive Landscape Key Players to Focus on Collaborations and Agreements to Strengthen Market Growth The market is combined by prime companies striving to preserve their position by emphasizing on procurements. For example, in April 2020, AAR made a deal worth USD 11.9 million with the U.S. Army. This agreement focuses on providing three alternatives of Lightweight Multipurpose Shelters (LMS) to the U.S army. These shelters will be utilized for Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) and other operations while being vehicle mounted. Industry Development May 2021 – Western Metal Supply Co. Inc. made a contract worth USD 9.39 million with the U.S. Army to design and build F-35A aircraft shelters. The agreement provides for the design, manufacture, and installation of F-35A aircraft shelters. About Us: Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune – 411045, Maharashtra, India. 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