Thor: Ragnarok - 12 Major Reveals From The New Images
11. Thor's New Armour
In Avengers: Age Of Ultron, Thor's armour was considerably more heavy-weight: he had heavier metal breast-plates over the usual leather under-armour, and obviously his arms were sheathed in chainmail...
Obviously, this was useful in battle, even if it has a more ceremonial look, but the Ragnarok look is very much a stream-lined one. His armour looks like it has been adapted for faster movement, particularly with the removal of the cumbersome cloak. It's still very obviously Thor, but it's more sci-fi Asgardian chic than Asgard at the opera.
He's obviously also sporting a new shorter hairstyle - by the look of the nasty scar on the side of his head this was not his choice - which fits with his more recent look in the comics...
Interestingly, in the comics (specifically, Thor The Unworthy), Thor's lack of hair was introduced as a symbol of his unworthiness. So it's probably not just a style choice.