Military Wearables Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The military wearables market size is projected to grow from USD 3.1 Billion in 2022 to USD 3.4 Billion by 2027, at a CAGR of 1.8% from 2022 to 2027. The military wearables market is driven by the modernization initiatives undertaken by the defense agencies of several countries to achieve better battlefield situational awareness while also monitoring the critical vitals of deployed personnel to better assess a path for achieving tactical superiority by eliminating certain restricting factors such as fatigue and stress. Thus, several nations are availing the use of cutting-edge technologies like advanced head mounted displays, body diagnostics sensors, advanced personal clothing, improved navigation & communication devices, and other types of military wearables in an effort to increase the level of protection for their soldiers.

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The land forces segment is estimated to account for the largest share of the military wearables market during the forecast period

Based on end user, the land forces segment is projected to register the highest growth rate during the forecast period. Most wearable technologies currently being designed are to augment the capabilities of the land forces as the soldiers are constantly exposed to hazardous working conditions leading to an increased risk of loss of life.

The vision & surveillance segment projected to lead military wearables market during forecast period

Based on technology, the video & surveillance segment is projected to lead the military wearables market during the forecast period. This segment has been further segmented into exoskeleton, power and energy management, navigation, communication and computing, smart textile, network & connectivity management, and monitoring. There is a huge demand for Augmented Reality (AR) & Virtual Reality (VR) technology-based product. Additionally, advancement in the night vision headwear technologies is driving the market.

Asia Pacific is projected to lead the market during the forecast period.

Asia Pacific accounted for the largest market share in 2022, and Middle East is projected to witness the highest CAGR during the forecast period. The escalating geopolitical tension in the regions has encouraged investments towards the adoption of modern wearable technologies of the soldiers, which favours the growth potential of the market in focus in the regions.

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Major players operating in the military wearables market are BAE Systems PLC (UK), Elbit Systems Ltd. (Israel), Rheinmetall AG (Germany), Thales Group (France), Saab AB (Sweden), Aselsan A.S (Turkey), General Dynamic Corporation (US) are some of the market players.

News also Covered: https://www.globenewswire.com/en/news-release/2022/08/09/2494743/0/en/Military-Wearables-Market-worth-3-4-Billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

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This release was published on openPR.