U.S. Tactical Folding Knives Market by Type (Military & Defense, Homeland Security, Fishing & Hunting, Sports & Recreational Activities, Other Types) by Price Range (Less Than USD 40, More Than USD 40, Double-pitch Chain, Other Price Ranges) by Sales Channel (Online, Mobile, Storefront, Direct Sales to Defense): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

U.S. tactical folding knives market is expected to cross-market value of USD 1,350 million in 2027 from USD 695 million in 2020. It is expected to grow at a CAGR of over 9% during the forecast period.

Key Market Drivers and Restraints

The growing demand for tactical folding knives in military Defense and homeland security is because they are convenient in critical missions and/or operations. This is one of the most prominent factors stimulating the growth of the U.S. tactical folding knives market. Compared with the past few decades, the U.S. defense expenditures' market value has increased considerably. This encourages professional organizations to purchase new and better knives and tools for their soldiers. Additionally, demand for these knives in fishing, hunting, and adventure sports is another factor driving the growth of the target market.

However, the availability of imitated/counterfeit products may hamper the growth of the U.S. tactical folding knives market. Compared with other knives, tactical folding knives are small and compact. Thus, the durability of these knives largely depends on the material quality used during production. In addition, the functionality of these knives may hamper if they are not made of high-quality materials. Therefore, manufacturers focus on using high-quality materials. Recently, R&D investment by manufacturers has been increased to develop durable and cost-effective products, which is a factor expected to create potential opportunities for the key manufacturers operating in the market.

Impact of COVID 19 on U.S. Tactical Folding Knives Market

The tactical folding knives market will grow considerably due to the U.S. pandemic. However, due to the COVID-19 outbreak, a global or partial shutdown negatively impacted the country's supply chain and product demand. In addition, a decrease in trading activities and transportation restrictions during this pandemic has a negative impact on the target market growth.

Military & Defense would continue to dominate the U.S. Tactical Folding Knives Market in terms of Type.

Military & Defense, Homeland Security, Fishing & Hunting, Sports & Recreational Activities, and Other Types are the Types of tactical folding knives market. In 2020, the Military & Defense segment accounted for the largest share of over 20% of the U.S. tactical folding knives market, owing to growing demand in industrial sectors.

Less Than USD 40 is the major segment in the U.S. Tactical Folding Knives Market in terms of Price Range.

Less Than USD 40 and More Than USD 40 are the Price Range of the tactical folding knives market. In 2020, the Less Than USD 40 segment accounted for the largest share of over 55% of the U.S. tactical folding knives market.

Direct Sales to Defense is the major segment in the U.S. Tactical Folding Knives Market in Sales Channel.

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, the Direct Sales to Defense segment accounted for a significant share of over 30% 2020 of the U.S. tactical folding knives market.

Frequently asked questions about U.S. Tactical Folding Knives Market