Military Wearables Market - Growth Opportunities in Global Industry
Posted by Akshata Sharma on October 16th, 2019
Military Wearables Market
San Francisco, CA, USA, Oct-16, 2019 /(Aerospace NEWS)-- [164 Pages Report] 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 increasing need for soldier coordination and training, rising asymmetric warfare, alleged geopolitical conflicts, and soldier modernization programs, among others are some of the factors fueling the growth of military wearables market. Additionally, rising investments in the development and integration of advanced wearable technologies to overcome limitations of existing military wearables is also contributing to the growth of this market.
Based on technology, the connectivity segment of the military wearables market is projected to grow at the highest CAGR during the forecast period.
Based on technology, the vision & surveillance segment is estimated to account for the largest share of the military wearables market in 2019. The connectivity segment is projected to grow at a highest CAGR during the forecast period from 2019 to 2025. The development of cutting-edge headsets for tactical communication, wearables computers to track enemy targets, and dismounted PNT for positioning & communication is fuelling the growth of the military wearables market during the forecast period.
The bodywear segment is projected to lead the military wearables market from 2019 to 2025.
The bodywear segment is estimated to account for the largest share of the military wearables market in 2019. The adoption of high-end bodywear which can be integrated with multiple sensors and wearable products is fuelling the growth of the bodywear segment. The integration of advanced body diagnostic sensors and wireless chargers in smart textiles for health monitoring and powering different wearables is expected to drive the growth bodywear segment. Sensors in smart textiles can detect heartbeat, pulse rate, and other fitness & medical metrics and relay them to a transmitter to detect any change in the health of soldiers.
“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. Increasing spending on soldier modernization programs and increased research & development activities are fuelling the growth of the military wearables during the forecast period. Advancement in technologies such as exoskeleton, smart textiles, power & energy management, and communication & computing is fueling the demand for military wearables in this region.
Key Market Players
Major companies profiled in the report are Lockheed Martin Corporation (US), BAE Systems (UK), Elbit Systems (Israel), Aselsan A.S. (Turkey), Saab AB (Sweden), General Dynamics (US), Harris Corporation (US), L-3 Technologies (US), Rheinmetall AG (Germany), and Safran (France), among others.
BAE Systems Plc. is a major player in the military wearables market. The company develops, delivers, and supports aerospace & defense systems. The company operates through 5 business segments, namely, electronic systems, cyber & intelligence, platforms & services (US), platforms & services (UK), and platforms & services (international). It offers military wearables through its electro-optical sensors division. Some of the key subsidiaries of the company are BAE Systems Integrated System Technologies, BAE Systems Maritime-Submarines, and BAE Systems Military Air & Information. The company has its presence in Australia, Saudi Arabia, India, Israel, Sweden, Oman, the UK, and the US. The company invests actively in Research & Development (R&D) of military wearables and has managed to successfully develop advanced military wearables. For instance, in July 2016, BAE Systems collaborated with Intelligent Textiles Limited to develop Broadsword Spine. This product enables the user to plug-in electronic systems through USB and charges them.
Aselsan A.S. is another major player in the military wearables market. The company has various subsidiaries operating in the global defense sector that include Aselsan Baku Company, Aselsan Malaysian Sdn. Bhd, SADEC LLC. (Saudi Defense Electronics Company), Aselsan Middle East PSC. Ltd, IGG, Aselsan Integrated Systems LLC, and Kazakhstan Aselsan Engineering LLP. It offers military wearables for land applications, communication & computing, and vision & surveillance, among others. In 2017, Aselsan launched a new product, the ASYA exoskeleton at the International Defense Industry Fair (IDEF) exhibition held in Istanbul (Turkey).
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About the AuthorAkshata Sharma
Joined: July 22nd, 2019
Articles Posted: 107
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