Military Wearables Market worth 6.4 billion by 2025
May 18, 2019 1:00 AM ET
According to the new market research report on the “Military Wearables Market by End User (Land, Airborne, and Naval), Technology (Communication and Computing, Connectivity, Navigation, Vision & Surveillance, Exoskeleton, Power & Energy Management), Wearable Type, Region – Global Forecast to 2025“, The military wearables market is projected to grow from USD 4.2 billion in 2019 to USD 6.4 billion by 2025, at a CAGR of 7.2% from 2019 to 2025.
The increase in defense spending and ongoing soldier modernization programs are some of the factors expected to drive the growth of the military wearables market.
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“Increase in defense spending and ongoing soldier modernization programs are key factors fueling the growth of the military wearables market across the globe.”
The rising instances of asymmetric warfare and increasing demand for improved and efficient military wearables to reduce troop casualties across the globe are expected to fuel the growth of the military wearables market. Increased focus by the defense industry to develop advanced military wearables is also fueling the growth of military wearables market.
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“Based on end user, the airborne forces segment of the military wearables market is projected to grow at the highest CAGR during the forecast period.”
Based on end user, the airborne forces segment of the military wearables market is projected to grow at the highest CAGR during the forecast period. Military forces of different countries across the globe have increased the use of military wearables to enhance the warfighting capabilities of their soldiers. Airborne forces in the North American region shows a significant demand for augmented reality & virtual reality-based military wearables for training and combat applications.
“The bodywear segment is projected to lead the military wearables market from 2019 to 2025.”
Based on wearable type, the eyewear segment of the market is projected to grow at the highest CAGR during the forecast period. Augmented Reality (AR) and Virtual Reality (VR) based eyewear products are expected to witness increased demand from defense forces worldwide for warfare and training activities. Companies are constantly working for the development of a number of cutting-edge technologies in the field of military wearables to enable troops to make impromptu decisions in battlefields.
“The North America military wearables market is projected to grow at the highest CAGR during the forecast period.”
The North America military wearables market is projected to grow at the highest CAGR from 2019 to 2025. The growth of the market in this region can be attributed to the rising demand for military wearables from defense forces of different countries of the region. The US and Canada are investing heavily in the development of modern integrated wearable technologies. Moreover, increasing product developments and investments in the military wearables ecosystem by defense research agencies, Original Equipment Manufacturers (OEMs), and start-ups are fueling the growth of the military wearables market in North America.
Major companies profiled in the report are
Lockheed Martin Corporation (US), BAE Systems Plc. (UK), Elbit Systems Ltd. (Israel), Aselsan A.S. (Turkey), Saab AB (Sweden), General Dynamics Corporation (US), Harris Corporation (US), L3 Technologies (US), Rheinmetall AG (Germany), and Safran (France), among others.
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