The latest market report published by Credence Research, Inc. “U.S. Tactical Folding Knives Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The U.S. tactical folding knives market generated revenue of around USD 695 million in 2020 and anticipated to grow at a CAGR of over 9% during the forecast period from 2021 to 2027 to reach around USD 1,350 million in 2027.
Browse the full report at https://www.credenceresearch.com/report/u-s-tactical-folding-knives-market
A tactical knife is a knife with one or more military characteristics, designed for use in extreme situations, and may or may not include the ability to be designed as a combat or combat weapon. Tactical folding knives are different along with a single thick blade sometimes has aggressive serrations, and the handle that has a proper grip rather than its look. These knives deliberately look scary, reflecting the huge tactical trend that has defined and continues to grow over the past decade.
Key Trends in U.S. Tactical Folding Knives Market
Growing Demand for Tactical Folding Knives in Defense Sector
Increasing demand for tactical folding knives in military defense and homeland security due to their properties is a factor expected to drive growth of the target market. In comparison to past few decades, the market value of U.S. defense spending has increased significantly, thereby, encouraging professional organizations to purchase these knives for their soldiers. The tactical folding knife is a very convenient tool in key operations and tasks. In addition to self-defense, knives are also important tools in life-saving situations such as rescue operations during and after natural disasters. Recognizing the importance, every military and defense, as well as homeland security organization, wants to combine the best fictional tactical folding knives. Investments by prominent players, new product launches, and various developments has created potential opportunities for major manufacturers and suppliers of the tactical folding knives.
Impact of COVID 19 on Tactical Folding Knives Market
Due to the pandemic, the businesses have been shut down globally or partially which has a negative impact on the product demand. The industry is facing unprecedented economic losses due to the disruption of supply chain of the major players operating in the target market. Distributors, suppliers, and retailers all have inventory in warehouses but cannot sell them due to restrictions, while manufacturers have to stop production in response to U.S. lockdown.
U.S. Tactical Folding Knives Market by Type Insights
Military & Defense, Homeland Security, Fishing & Hunting, Sports & Recreational Activities, and Other Types are the Type of tactical folding knives market. In 2020, Military & Defense segment accounted for the largest share of over 20% of U.S. tactical folding knives market.
Military & Defense Segment to Dominate the U.S. Tactical Folding Knives Market
U.S. Tactical Folding Knives Market by Price Range Insights
Less Than USD 40 and More Than USD 40 are the Price Range of tactical folding knives market. In 2020, Less Than USD 40 segment accounted for the largest share of over 55% of U.S. tactical folding knives market.
Less Than USD 40 Segment to Dominate the U.S. Tactical Folding Knives Market
U.S. Tactical Folding Knives Market by Sales Channel Insights
Based on Sales Channel, the U.S. tactical folding knives market is segregated into Online, Mobile, Storefront, Direct Sales to Defense, Construction & Mining, and Other Sales Channels. The Online segment is further sub-segmented into Amazon, ebay, Knife Depot, and Others. Also, the Mobile segment is further sub-segmented into Snap-on, Matco, Mac, Cornwell, and Others. In 2020, Direct Sales to Defense segment is accounted for a significant share of over 30% in 2020 of the U.S. tactical folding knives market.
Direct Sales to Defense Segment to Dominate the U.S. Tactical Folding Knives Market
U.S. Tactical Folding Knives Market Competitive Landscape
Most prominent players in the U.S. tactical folding knives market include Smith & Wesson, Gerber, SOG, Kershaw, KA-BAR, Spyderco, CRKT, and Others. The report covers very detailed profiles of these key players.
U.S. Tactical Folding Knives Market by Type, 2015 – 2027
· Military & Defense
· Homeland Security
· Fishing & Hunting
· Sports & Recreational Activities
· Other Types
U.S. Tactical Folding Knives Market by Price Range, 2015 – 2027
· Less Than USD 40
· More Than USD 40
· Double-pitch Chain
· Other Price Ranges
U.S. Tactical Folding Knives Market by Sales Channel, 2015 – 2027
o Knife Depot
· Direct Sales to Defense
U.S. Tactical Folding Knives Market: Key Players
· Smith & Wesson