Military Wristwear Market : by Technology, by Type, Regions and Forecast to 2031
The military wearables are the equipment used by soldiers during the missions or military exercises. The technology reduces troop causalities across the globe. There are several types of military wearables such as wristwear, headwear, eyewear, and bodywear. Military wearables help in monitoring the physical state of soldiers during missions, enhance communication between troops & military stations, and in providing complete situational awareness. The other benefits of military wearables include their withstanding capability in sustaining harsh environmental conditions such as high temperatures, inside water and others. The governments of several countries are investing for highly efficient military wearables, which are paving way for the development of highly efficient military wristwear such as wrist computers, Fitbit, and others.
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COVID-19 Scenario analysis:
Due to COVID-19 situation, the production rate of military wristwear industries across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.
Training exercises such as Pitch Black 2020 and Milan 2020 have been cancelled due to the COVID-19 situation, which may impact procurement of military wristwear.
There will be a considerable rise in demand for military wristwear post COVID-19 as the combat exercises will start resuming.
As governments spending shift toward economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for military wristwear equipment.
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 wristwear market. However, procurement of conventional warfare systems rather than advanced military wearables by emerging economies are hampering the market growth. Contrarily, advancement in military wearables technologies are opportunistic for the future growth of the military wristwear market.
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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, and Yemen. Military wristwear equipment help tracing the soldiers' moment and provide real-time situational awareness to military office, which improves the troops coordination with the team. Moreover, such military wearables also improve the training of soldiers. Hence, increase in need for soldier coordination & training is generating demand for military wristwear such as wrist computer; thereby, driving the growth of the military wristwear market.
Advancement in wearable technology
Several military wearables have become compact, lightweight, and improve efficiency. Further, the technological advancement of military wearables has contributed in increase in sale. For instance, Harris corporation has signed a contract of worth 130 million USD with the USA air force for the development & delivery of hand-held video data link radios in May 2018. Hence, the military wearables market is expected to grow further with the advancements in technology in future, which will also create demand in the global military wristwear market.
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Key benefits of the report:
This study presents the analytical depiction of the global military wristwear industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global military wristwear market share.
The current market is quantitatively analysed from 2020 to 2027 to highlight the global military wristwear market growth scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global military wristwear market analysis based on competitive intensity and how the competition will take shape in coming years.
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