“Increasing defense spending and ongoing soldier modernization programs are key factors fueling the growth of the military wearables market across the globe.”
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. 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.
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“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.
Break-up of profiles of primary participants of the military wearables market
- By Company Type - Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C Level – 35%, Director Level – 25%, and Others – 40%
- By Region – North America -20%, Europe – 5%, Asia Pacific – 30%, and the Middle East – 45%
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
This report presents a complete analysis of the military wearables market during the forecast period. The market has been classified based on end user (land forces, airborne forces, and naval forces), technology (communication and computing, connectivity, navigation, vision & surveillance, exoskeleton, monitoring, power & energy management, and smart textiles), wearable type (headwear, eyewear, wristwear, hearables, and bodywear), and region (North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW)).
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From an insight perspective, this research report has focused on various levels of analysis ? industry analysis (industry trends), market ranking analysis of top players, and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the military wearables market, high-growth regions, and drivers, restraints, challenges, and opportunities influencing the growth of the market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on military wearables offered by top market players
- Market Sizing: The estimated size of the market in 2019 and its projection from 2019 to 2025
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new products launched in the military wearables market
- Market Overview: Market dynamics and subsequent analysis of the associated trends as well as drivers, restraints, opportunities, and challenges prevailing in the military wearables market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for military wearables across different regions
- Market Diversification: Exhaustive information about new products launched, untapped geographies, recent developments, and investments in the military wearables market
- Regional Analysis: Factors influencing the growth of the military wearables market in North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW)
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the military wearables market
- Impact of Mega Trends: Effect of the growth of the electronic/network-centric warfare, which uses drones or cyber platforms utilizing Artificial Intelligence (AI) and embedded computing platforms, on the military wearables market