I recently came across B.G. Leatherworks while looking for a bit cover for an axe and tomahawk. I was having a difficult time finding something that fit my needs. Most axes, hatchets, and tomahawks come with poorly fitted sheaths, if they come with a sheath at all. There are off-the-shelf type sheaths available but these suffer from the same poor fit due to their one size fits all approach.
The only useful cutting tool is a sharp cutting tool, so it is vitally important to have a reliable way of covering the cutting edge of your axes. It is not uncommon for an axe to be sharp enough to shave hair, so the last thing you want is for that edge to come in contact with your pack or, worse, your skin.
B.G. Leatherworks makes very attractive sheaths for axes and tomahawks (among other things). Every sheath is custom made and there are several options to choose from. The prices seem very reasonable. You can view more of their work on the B.G. Leatherworks website.
Image provided by B.G. Leatherworks