DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "The Global Soldier Modernization Market 2017-2027" report to their offering.
Global Soldier Modernization market is expected to value US$9.0 Billion in 2017, and will grow at a CAGR of 4.00%, to value US$13.3 Billion by 2027. The cumulative market for global expenditure on soldier modernization will reach US$118.0 Billion over the forecast period.
The C4ISR segment is expected to be the largest soldier modernization market during the forecast period. The fast paced technological advancement in this domain has led to the growing demand of C4ISR based soldier modernization systems rendering earlier equipment obsolete. Driven by large scale procurement as well as upgrade programs that are being undertaken by several nations across the world, the C4ISR based systems are expected to account for the largest share of 36% in the global market over the forecast period.
The global soldier modernization market is expected to be dominated by North America. Despite the defense budget sequestration, the region is expected to record a CAGR of 3.67% between 2017 and 2027. Overall, North America is projected to spend US$45.4 Billion on soldier modernization over the forecast period. In 2017, regional expenditure is expected to value US$3.7 Billion and increase to US$5.4 Billion by 2027.
- The global soldier modernization market, valued at US$9.0 billion in 2017, is projected to grow at a CAGR of 4.00% over the forecast period, to reach US$13.3 billion by 2027 and cumulatively value US$118.0 billion.
- The market consists of five categories: C4ISR, survivability, sustainability, mobility and lethality.
- The market is expected to be dominated by C4ISR segment, which will account for 38% of the market, followed by Lethality and Survivability with shares of 28% and 26% respectively.
- North America is forecasted to dominate the sector with a share of 38%, followed by Asia Pacific and Europe, with shares of 28% and 23% respectively.
- BAE Systems Plc
- The Raytheon Company
- Elbit Systems Ltd
- Ceradyne, Inc.
- ArmorSurce LLC
- General Dynamics Corporation
- Science Applications International Corporation
- Rheinmetall Defence
- Bren-Tronics Inc
- FLIR Systems Inc.
- Harris Corporation
- Safran S.A.
For more information about this report visit http://www.researchandmarkets.com/research/5wbhm5/the_global