According to a new market research report published by Credence Research “Tactical Folding Knives Market (Opening Type: Push Bottom Automatic Opening and Manual Opening; End-use Application: Military & Defense, Homeland Security, Fishing & Hunting and Sports & Recreational Activities)-Growth, Future Prospects and Competitive Landscape, 2018-2026″ the tactical folding knives market registered market value of US$ 12.9 Bn in 2017 and estimated to grow with a CAGR of 2.7% during the forecast period from 2018 to 2026.
Over the past few decades, defense spending across the globe has seen considerable growth in market value. This encouraged professional organizations to provide their soldiers with new and better tools and knives. Continuously growing demand for military & defense and home security is one of the most prominent factors stimulating growth in the market for tactical folding knives. Tactical folding knives are very handy tools for critical operation and mission. In addition to self-defense, the knives also serve as an important tool in life-saving situations such as rescue operations during and after a natural calamity. Identifying the significance, every military and defense, as well as home security organization, wants to incorporate the best available fictional tactical folding knife.
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Rapidly developing other recreational activities such as fishing, hunting and adventure sports including hiking trekking created a positive impact on the significance of tactical folding knives. Camper and hikers always prefer to carry a folding tactical knife with multiple functions. A handy tactical knife can help them to gather and prepare food or even can become a lifesaving difference in life and death situation. Use of high-performance alloys and other synthetic material for the tang of the knives and several additional features such as wire stripper/cutter, bottle openers, serrated saw edge and carabineers among others. All the aforementioned factors are contributing together to encourage the tactical folding knives market growth.
The research analysis covers exhaustive analysis of leading tactical folding knives manufacturing companies including
- Smith & Wesson,
- Cold Steel,
- Zero Tolerance,
Tactical folding knives market is quite competitive as the market is characterized by some of the most respective knife maker and several local manufacturers. Every company contributing to the overall market is facing fierce competition from each other in order to maintain their market position. Tactical folding knife giants are facing each other to acquire government contracts to provide knives to military & homeland security organizations. In addition, the companies are also trying to attract young and adventure enthusiastic consumer as this is one of the fastest growing end-use segment in recent years.
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