DUBLIN--(BUSINESS WIRE)--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" report has been added to ResearchAndMarkets.com's offering.
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 7.17% from 2019 to 2025
Increasing defense spending and ongoing soldier modernization programs are key factors fueling the growth of the military wearables market across the globe.
Growing adoption of military wearables due to 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. Decline in defense spending and procurement of conventional warfare systems rather than advanced military wearables by emerging economies are expected to restrain the growth of the market 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.
Based on end user, the military wearables market has been segmented into land forces, naval forces, and airborne forces. 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.
Based on wearable type, the bodywear segment is projected to lead the military wearables market from 2019 to 2025.
Based on wearable type, the military wearables market has been segmented into headwear, eyewear, wristwear, hearables, and bodywear. The eyewear segment of the market is projected to grow at the highest CAGR during the forecast period. The demand for different types of wearables is increasing across the globe depending on their use and adoption in various military missions. 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.
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 North American region has the presence of countries such as the US and Canada, which are investing in the development of modern integrated wearable technologies.
Moreover, increasing product developments and investments in the military wearables ecosystem by defense research agencies, large Original Equipment Manufacturers (OEMs), and start-ups are leading to the growth of the military wearables market in North America.
Market Dynamics
Drivers
- Increasing Focus on Development of Lightweight and Rugged Military Wearables
- Increasing Adoption of Military Wearables Due to Increasing Asymmetric Warfare
- Soldier Modernization Programs Across the World
Restraints
- Preference for Conventional Warfare Systems Over Advanced Systems in Developing Countries
- Declining Defense Budgets
Opportunities
- Development and Incorporation of Advanced Technologies to Overcome Deficiencies of Existing Military Wearables
- Incorporation of Nanotechnology in Subsystems of Military Wearables
- Increased Demand for Improved and Efficient Military Wearables to Reduce Troop Casualties
Challenges
- Lack of Strategy Clarity and Technology Readiness
- Reduction in Weight of Military Wearables Without Compromising on Protection and Combat Performance
Companies Mentioned
- Aselsan A.S.
- BAE Systems PLC
- Bionic Power
- Elbit Systems Ltd.
- Flir Systems
- General Dynamics Corporation
- Harris Corporation
- Interactive Wear
- L3 Technologies, Inc
- Leonardo
- Lockheed Martin Corporation
- Northrop Grumman
- Rheinmetall
- Saab
- Safran
- ST Engineering
- TE Connectivity
- Thales
- TT Electronics
- Ultra Electronics
For more information about this report visit https://www.researchandmarkets.com/r/2mww7f
