Global Military Exoskeleton Market 2017-2021

Overview of the global military exoskeleton market

Technavio's market research analyst predicts the global military exoskeleton market to grow steadily at a CAGR of above 65% by 2021. One of the primary drivers for this market is the increasing need for integrated soldier suites. The dynamically evolving warfare mechanisms has compelled several nations in developing military suits or body armor for their armed forces. Although there have been innovations and developments attached with these military wearables, their basic functionality includes the provision of added strength, efficiency, and combat capabilities to the armed troops. Also, the NATO countries, in particular, are pursuing some future soldier modernization programs, which would equip the soldiers with advanced features such as improved situational awareness, enhanced vision, increased combat capabilities, and higher strengths and endurance limits. The new military wearables that are being developed are lighter, lethal, protective, and are integrated with combat and communication systems. Such technological advances in the military exoskeleton will propel the global military exoskeleton market during the forecast period.

One of the latest trends gaining traction in this market is the development of advanced lightweight wearables. The addition of military wearable-integrated electronics such as radios, range finders, navigation, weapon, and optronics systems, which were integrated to protect and empower the soldiers, has significantly increased the total weight being carried. The combined weight of equipment hinders infantry personnel from being mobile, agile, and effective war fighters, thus putting their lives at risk. This has compelled manufacturers across the globe to develop lightweight soldier systems to reduce the burden on infantrymen. These wearables can significantly improve the performance of the soldier, which can be crucial in a battlefield. Moreover, the capability of these wearables to provide additional climatic, ballistic, and nuclear, biological, and chemical (NBC) protection will propel the military exoskeleton market in the coming years.

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Competitive landscape and key vendors

The global military exoskeleton market is characterized by the presence of a few global and regional vendors. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront the market's growth. Also, to gain a competitive edge, vendors increasingly focus on in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and establishing a strong client base.

Leading vendors in the market are ?

• Bionic Power
• General Atomics
• Lockheed Martin
• Raytheon
• Safran

Other prominent vendors in the military exoskeleton market include 20 Knots Plus, Revision Military, SpringActive, and SRI International.

Segmentation by type and analysis of the military exoskeleton market

• Partial-body exoskeleton
• Full-body exoskeleton

During 2016, the partial-body exoskeleton dominated the military exoskeleton market and accounted for a major part of the overall market share. Factors such as the increased productivity and flexibility, decreased fatigue of the soldiers wearing them, and low power consumption are the key contributors to the dominance of this segment in the global market.

Geographical segmentation and analysis of the military exoskeleton market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated the Americas to dominate the military exoskeleton market during the forecast period. The capability of these armor suits to provide the soldiers with increased power, safety, and capabilities, which have helped them to carry out military operations conveniently, in vulnerable regions such as Cyprus, Iraq, Libya, Nigeria, Somalia, Syria, and Afghanistan are the main factors responsible for the growth of the military exoskeleton market in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global military exoskeleton market?
• What are the key market trends impacting the growth of the global military exoskeleton market?
• What are the challenges to market growth?
• Who are the key vendors in the global military exoskeleton market?
• What are the market opportunities and threats faced by the vendors in the global military exoskeleton market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global military exoskeleton market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Military Body-Worn Camera Market 2017-2021

To offer clients insights into the dynamic supply landscape for the military exoskeleton market, Technavio takes into account the current market scenario and elaborates on the key factors affecting the defense industry. While evaluating this market space, the market research analysts have noted that this industry is witnessing profound market advancements based on the introduction of advanced military and protection equipment for military professionals, which is likely to create numerous business opportunities for the aerospace and defense industry. Our actionable market intelligence reports provide information on how major players like BAE Systems, Boeing, General Dynamics, General Electric, Lockheed Martin, Honeywell, Northrop Grumman, Pratt & Whitney, and Rolls-Royce are shaping the market landscape by offering cutting-edge product and services across the aerospace and defense sector.

Technavio's market research analysts have also focused on the global outlook of the defense sector to provide an intensive market analysis for the military exoskeleton market. The upcoming report on military exoskeleton follows a tailor-made and objective approach, to identify the latest trend patterns. It has also been observed that the demand for military exoskeletons will witness prolific growth in the coming years due to increased focus on soldier's strength, stamina, and protection.  These mechanical outfits not only help soldiers to lift and carry heavy equipment but also reduce the risk of injuries in the battlefield by enhancing their mobility. To present a complete picture of the market, industry experts have calculated the market size and forecast from a global perspective to analyze the increasing defense budgets across developing countries and product developments in terms of size, power consumption, and durability. Technavio's comprehensive competitor vendor analysis also assists business firms in strategizing and executing their operations in the respective market. Our market research reports in this segment cover topics such as agility training equipment, short-range air-defence missile system, laser defense eyewear, military mobile computing systems, military laser systems, military biometrics, and sensor-based gun systems.

Technavio's upcoming market research report also takes into account the growth of the other markets in the defense sector like the global military satellite payloads and subsystems market, which is expected to grow at a CAGR of more than 5% by 2021. According to the industry experts, several defense organizations are anticipated to have a bright future following improvements in defense technologies and warfare systems. Our market research reports also offer a detailed view of industry overviews, sales statistics and projections, subsequent product innovations, and up-to-date analysis of the ongoing research activities.

The upcoming market report for military exoskeleton also identifies the eminent drivers, emerging trends, as well as the key challenges that the defense industry is currently experiencing. It also presents insights into the changing competitive landscape to give clients a holistic picture of the aerospace and defense sector.