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Military Exoskeleton Global Market Set to Skyrocket to $1.83 Billion By 2032 with an Impressive CAGR 13.2% | Dephy Inc., BAE Systems PLC, General Atomics, CYBERDYNE INC., DIH Medical
Military Exoskeleton Market
As per the report, the military exoskeleton market size has grown rapidly in recent years. It will grow from $0.97 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The military exoskeleton market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
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The Role Of Military Exoskeletons In Countering Terrorism And Cross-Border Disputes
The rising number of terrorist activities and cross-border disputes is expected to propel the growth of the military exoskeleton market going forward. Terrorism activity is the intentional use of violent means or threats to achieve political, religious, or ideological objectives by inducing fear or coercion among civilians. Cross-border disputes refer to legal disagreements or conflicts that arise between individuals or organizations from different countries. The use of military exoskeletons enhances the physical abilities of soldiers, including strength, agility, and endurance, thereby improving their readiness to respond to terrorist attacks. For instance, in 2022, according to the Global Terrorism Index (GTI), which is 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 rising number of terrorist activities and cross-border disputes is driving the growth of the military exoskeleton market going forward.
A Game-Changer In Military Exoskeleton Innovation
Developing lightweight exoskeletons are a key trend gaining popularity in the military exoskeleton market. Companies operating in the military exoskeleton market are launching new versions of lightweight exoskeletons to sustain their position in the market. For instance, in April 2023, Comau Robotics, an Italy-based company that provides specializes in automation, launched Mate-XT, a wearable exoskeleton for industrial, non-industrial, and open-air environments. The design of the exoskeleton features a thin, light carbon fiber structure with an easy-to-use control system. It is resistant to water, dust, UV light, and temperature, and can be quickly customized to fit almost anybody's frame.
The military exoskeleton market covered in this report is segmented -
1) By Type: Full-body Exoskeleton, Partial-body Exoskeleton
2) By Power: Active Exoskeleton, Passive Exoskeleton
3) By Operation: Battery-powered, Cable-powered
4) By Application: Physical Augmentation, Human-machine Interface, Human-computer Interface
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Major companies operating in the military exoskeleton market report are Lockheed Martin Corporation, Sarcos Technology and Robotics Corporation, Aselsan Elektronik Sanayi ve Ticaret AS, Dephy Inc., Rostec State Corporation, BAE Systems plc, General Atomics, Raytheon Technologies Corporation, Ekso Bionics Holdings Inc., Revision Military Inc., SpringActive Inc., 20 Knots Plus Ltd, Safran SA, General Dynamics Corporation, CYBERDYNE INC., Ottobock, DIH Medical, Bionic Power Inc., B-Temia, Boeing, Honeywell Aerospace, Mawashi Science & Technology, Rostec, Biogenix Laboratories, Zytomed System GmbH, Bio-Techne Corporation, QinetiQ Group plc, Hunter Defense Technologies Inc, Fifth Dimension Technologies, Endeavor Robotics, EXHAUSS Exoskeletons
Contents of the report:
1. Executive Summary
2. Military Exoskeleton Market Report Structure
3. Military Exoskeleton Market Trends And Strategies
4. Military Exoskeleton Market - Macro Economic Scenario
5. Military Exoskeleton Market Size And Growth
…..
27. Military Exoskeleton Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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