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Soldier Systems Market Size, Share, Growth, Overview, Analysis, Top Key Players, Forecast To 2033
Soldier Systems Market Size
As per the report, the soldier systems market size has grown strongly in recent years. It will grow from $11.45 billion in 2023 to $12.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The soldier systems market size is expected to see strong growth in the next few years. It will grow to $15.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
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Rising Terrorism Drives Surge In Demand For Soldier Systems Market
The increasing number of terrorist strikes is expected to propel the growth of the soldier system market in the coming future. Terrorist strikes are surprise assault that intentionally targets civilians with violence in the pursuit of political or religious objectives. Soldier systems assist crew life by integrating protective apparel, personal electronics, and survival equipment to improve aircrew lethality, mission effectiveness, and protection. The increasing number of terrorist strikes is expanding the soldier system market, thus increasing demand. For instance, in 2022, according to the Global Terrorism Index (GTI), published by The Institute for Economics and Peace (IEP), an Australia-based global think tank, terrorist attacks increased by 17% in 2021, with a total of 5,226 recorded attacks. Therefore, the increasing number of terrorist strikes is driving the soldier system market.
Innovative Wearable Technology And Augmented Reality Drive Advancements In Soldier Systems Market
The use of wearable technology and augmented reality is the key trend gaining popularity in the soldier systems market. Major companies operating in the soldier systems market are focused on developing innovative wearable technology and augmented reality technology to strengthen their position in the market. For instance, in July 2022, Elbit Systems Ltd., an Israel-based electronics company that operates in the defense and military sectors, launched a revolutionary helicopter vision suite for military pilots. The new suite combines an advanced sensor array, an AI-powered mission computer X-Sight HMD system, and a one-of-a-kind Helmet Mounted Display (HMD) system. The AI-powered mission computer combines sensor data, preloaded maps, and flight and mission information. It displays a live color image with an augmented reality overlay demonstrating obstacles, threats, the flight path, and extra flight and mission details on the visor of the X-Sight HMD.
The soldier systems market covered in this report is segmented -
1) By Type: Protection, Communication, Power And Data Transmission, Surveillance And Target Acquisition, Navigation, Other Systems
2) By Component: Hardware Devices, Software, Display Devices, Imaging Devices, Night Vision Devices, Tracking Devices, Wired And Wireless Communication Devices, Personal Protection Kits, Identification Friend or Foe (IFF), Other Components
3) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies
4) By End User: Military, Homeland Security
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Major companies operating in the soldier systems market report are Safran SA, Leonardo S.p.A., Rheinmetall AG, L3Harris Technologies Inc., Lockheed Martin Corporation, Saab AB, Aselsan Elektronik Sanayi ve Ticaret A.Ş., Elbit Systems Ltd., General Dynamics Corporation, Thales Group, Teledyne Technologies Inc., Inova Design Solutions LLC, The Boeing Company, Northrop Grumman Corporation, Avon Protection plc, Banc 3 Technologies, Inc., Inmarsat Global Limited, Metravib Defense SA, Teldat Group, S.A., Textron Systems Corporation, Raytheon Technologies Corporation, BAE Systems plc, Harris Corporation, Leidos Holdings Inc., KBR Inc., CACI International Inc., QinetiQ Group plc, Cobham plc, Ultra Electronics Holdings plc, Chemring Group plc, Hanwha Corporation, Bharat Electronics Limited, Israel Weapon Industries Ltd., ST Engineering, RUAG AG, Nexter Systems, Oshkosh Corporation, Navistar International Corporation, Kongsberg Gruppen ASA, FN Herstal S.A.
Contents of the report:
1. Executive Summary
2. Soldier Systems Market Report Structure
3. Soldier Systems Market Trends And Strategies
4. Soldier Systems Market - Macro Economic Scenario
5. Soldier Systems Market Size And Growth
…..
27. Soldier Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Scope
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