DUBLIN--(BUSINESS WIRE)--The "Military Augmented Reality Market to 2025 - Global Analysis and Forecasts by Components, Product Type & Functions" report has been added to ResearchAndMarkets.com's offering.
The military augmented reality market is estimated to account for US$ 1,797.5 Mn by the end of 2025, escalating at a CAGR of 17.4% during the forecast period from 2018 to 2025, from US$ 511.8 Mn in 2017.
The growth of military augmented reality market is heavily driven by the significant increase in demand for situational awareness technologies among the defense forces across the globe and the need for hands-free navigation capabilities. The augmented reality systems have numerous advantages in the battlefield, providing the wearer with vital information related to their surroundings, locating positions, and identifying friend or foe among others, thus saving lives. Attributing to these advantages, the defense forces in the developed countries are investing substantial amounts in procurement of augmented reality along with development of advanced technology in the field.
Moreover, the developing countries such as Mexico, India, Japan, Saudi Arabia, UAE and Brazil among others are also financing considerable amounts in procurement of advanced technologies including augmented reality systems for combat operations. The U.S Department of Defense is heavily investing in augmented reality systems in order to equip the armed forces with an opportunity to navigate without any hand-held GPS locator, allowing the soldier to look in one direction while simultaneously viewing the weapons point of view.
The Advanced Information Technology of Naval Research Laboratory in collaboration with Columbia University is developing Battlefield Augmented Reality Systems (BARS) for armed forces during combat operation. The key aim of BARS is to provide the armed forces in battleground with enhanced situational awareness and managing assets.
Key Market Dynamics
Key Market Drivers
- Increase in Demand for Enhanced Situational Awareness
- Rising Need for Hands Free Navigation
Key Market Restraints
- Vulnerable to Cyber Attacks
Key Market Opportunities
- Rising Investments in Augmented Reality for Combat Operations
- Technological Advancement is Anticipated to Influence the Growth of Combat Augmented Reality among the Defense Forces
Key Topics Covered:
1 Tables & Figures
3 Key Takeaways
4 Market Landscape
5 Global Military Augmented Reality Market - Key Market Dynamics
6 Military Augmented Reality Market - Global
7 Global Military Augmented Reality Market Analysis - By Components
8 Global Military Augmented Reality Market Analysis - By Product Type
9 Global Military Augmented Reality Market Analysis - By Functions
10 Global Military Augmented Reality Market - Geographical Analysis
11 Industry Landscape
12 Competitive Landscape
13 Key Company Profiles
- BAE Systems
- Applied Research Associates, Inc.
- Google LLC
- Osterhout Design Group
- Six15 Technologies
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