Since Far From Home occurs after End Game and Peter Parker has become crushed because of what happened, he has his own Spidey Suit. Take note that there are up to three suits that will be worn in this movie so you will probably have a grand time comparing all of the different suits from each other.
It is said that one of the suits is designed by Peter Parker himself. It may be a bit different from the Spiderman that you are used to but you can definitely see the reference once you see the spidey suits. It is fun in the movie to see Peter Parker create his own suit.
Yes, there is a new suit for Spidey in Spider-Man: Far from home. The new suit was developed by Peter Parker himself. Peter made the suit on the Stark Jet later in the film for the final battle in London. The costume is made from a skin-tight material thought to be Spandex or something similar to that.
This red and black suit is the new addition to the Spider-man oeuvre. The new suit has webbing between the shoulders and the arms which allows Peter to glide in the air. Aside the webbings, there are no other new additions made to the suit.