Military Wearables Market (2020-2027) | What Recent Study Say About Top Companies | Industry Growth Insights
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North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa
Lockheed Martin Corporation, BAE Systems, Saab AB, General Dynamics Corporation, Elbit Systems Ltd., ASELSAN A.?., L3Harris Technologies Inc, Rheinmetall AG, Safran, and Rheinmetall AG
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in need for soldier coordination & training, rise in asymmetric warfare, alleged geopolitical conflicts, and soldier modernization programs are the factors that drive the growth of the military wearables market. However, procurement of conventional warfare systems rather than advanced military wearables by emerging economies is expected to hamper the market growth. On the contrary, technological advancements such as exoskeleton, smart textiles, power & energy management, and communication & computing is opportunistic for the future growth of the military wearables market.
Increase in need for soldier coordination & training
Soldiers security becomes topmost concern for defense agencies especially in current ongoing war like situations in Syria, Iraq, Yemen, and others. Military wearables track the soldiers’ moment and provide real-time situational awareness to military office, which improves the troops coordination with the team. Moreover, military wearables improve the training of soldiers. Hence, increase in need for soldier coordination & training military wearables demand will continue to grow.
Advancement in wearable technology
Several military wearables have become compact, lightweight, and improved in efficiency. The technological advancement of military wearables has contributed in increase in sale. For instance, BAE Systems secured a contract worth USD 97 million from the U.S. Army for the supply of new night vision goggles and thermal weapon sights. Therefore, military wearables market is expected to grow further with the advancements in technology in future.
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Key benefits of the report:
1 This study presents the analytical depiction of the global military wearables industry along with the current trends and future estimations to determine the imminent investment pockets.
2 The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global military wearables market share.
3 The current market is quantitatively analyzed from 2020 to 2027 to highlight the global military wearables market growth scenario.
4 Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.
5 The report provides a detailed military wearables market analysis based on competitive intensity and how the competition will take shape in coming years.
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