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Global Military Wearables Market 2023 Trends Analysis, Growth Rate, Industry Outlook And Research Report 2032 | Major Players Are Aselsan A.S., Bionic Power Inc., Lockheed Martin Corporation, BAE Systems PLC., Saab AB.
Military Wearables Market
The Business Research Company's Military Wearables Global Market Report 2023 identifies Growing defense expenditures as the major driver for the Military Wearables Market's growth in the forecast period. Defense expenditure refers to all ongoing and future investments in the armed forces, including peacekeeping activities carried out by defense ministries and other governmental organizations working on defense initiatives, as well as paramilitary groups that are deemed capable of participating in military operations and are trained, equipped, and ready for them. In the defense organization, numerous wearable gadgets and equipment can be integrated into a soldier's wearable or uniform, freeing him from having to carry additional payloads. In the years to come, the armed forces may be impacted by wearable technology.
The global military wearables market size is expected to grow from $3.51 billion in 2022 to $3.72 billion in 2023 at a compound annual growth rate (CAGR) of 6.01%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military wearables market size is expected to reach $4.79 billion in 2027 at a CAGR of 6.51%.
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Major competitors in the military wearables market are Aselsan A.S., Bionic Power Inc., Lockheed Martin Corporation, BAE Systems PLC., Saab AB, General Dynamics Corporation, Elbit Systems Ltd., L3Harris Corporation, Rheinmetall AG, Safran S.A, Thales Group, Northrop Grumman Corporation, Ultra Electronics Holdings, Teledyne Flir LLC, Leonardo S.P.A., Viasat Inc., TE Connectivity Ltd., TT Electronics PLC., Interactive Wear AG, Epsilor-Electric Fuel Ltd., Glenair Inc., Milpower Source Inc., Safariland L.L.C. and Singapore Technologies Engineering Ltd.
A key trend in the Military Wearables Market includes technological advancement. Major companies in the military wearable sector are focused on innovating their products to strengthen their position in the market and sustain their position in the market. For instance, in December 2022, Air Force Research Laboratory (AFRL), a US-based Scientific research organization has partnered with the Nano Bio-Materials Consortium and Case Western Reserve University, introduced a wearable sensor for measuring biomarkers in airmen and guardians. These wearable sensors improve the capacity to capture and monitor molecular signatures in bodily fluids such as saliva, interstitial fluid, and sweat that is crucial for monitoring Airmen and Guardians' well-being during critical operations, detecting when they get unduly tired, worried, or overstimulated. These wearable sensors can take the form of mouthguards, skin patches, or microneedle patches that only pierce the epidermis into the interstitial fluid.
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The Military Wearables Market is segmented -
By Type: Wrist Wear, Modular, Eyewear, Smart Key Chains, Ear Wear, Other Types
By Technology: Communication And Computing, Connectivity, Navigation, Vision And Surveillance, Exoskeleton, Monitoring, Power And Energy Management, Smart Textiles
By End-User: Land Forces, Naval Forces, Airborne Forces
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Military Wearables Market.
The Business Research Company's "Global Military Wearables Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Military Wearables Market Include:
1. Executive Summary
2. Military Wearables Market Characteristics
3. Military Wearables Market Trends And Strategies
4. Military Wearables Market - Macro Economic Scenario
5. Military Wearables Market Size And Growth
……
26. Africa Military Wearables Market
27. Military Wearables Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Wearables Market
29. Military Wearables Market Future Outlook and Potential Analysis
30. Appendix
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