February 27, 2020

Tactical Folding Knives Market Is Set To Cross US$ 16.4 Bn by 2026

The tactical folding knives market registered a market value of US$ 12.9 billion in 2017 and is expected to grow with a CAGR of 2.7% between 2018 and 2026.

Defence spending across the globe registered considerable growth in terms of market value from the past few decades. This encouraged professional organizations to acquire new and better tools and knives for their soldiers. Continuously increasing demand for military & defence and homeland security is one of the most important factors in stimulating the growth of the tactical folding knives market. Tactical folding knives are handy tools for critical operation and mission. Besides self-defence, knives also serve as an important tool in life-saving situations, such as during and after a natural disaster. Identifying the significance, every military and defense organization, as well as the homeland security organization, wants to incorporate the best available fictional tactical folding knife.

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The rapid development of other recreational activities such as fishing, hunting and adventure sports, including hiking, has had a positive impact on the importance of tactical folding knives. Campers and hikers always prefer to carry a folding tactical knife with multiple functions. A handy tactical knife can help them gather and prepare food or even make a life-saving difference in life and death. The use of high-performance alloys and other synthetic material for knives and several additional features such as wire strippers / cutters, bottle openers, saw edges and carabineers, among others. All of the above factors contribute together to boost the market growth of the tactical folding knives.

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The research analysis covers a comprehensive analysis of leading tactical folding knives manufacturing companies, including Smith & Wesson, Cold Steel, SOG, Benchmade, Gerber, Zero Tolerance, CRKT, Kershaw, Spyderco, MicroTech, Victorinox and Leatherman. Tactical folding knives market is quite competitive as the market is characterized by some of the most respective knife manufacturers and a number of local producers. 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 and 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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