Press release
Military Exoskeleton Market to Grow to $1.25 Billion at 14.3% CAGR in 2025 Driven by Advances in Materials and Engineering
Military Exoskeleton Market
Keyword Focus: Rapid growth, Military Exoskeleton Market, CAGR, Defence Spending, Enhanced Soldier Performance
What Is The Projected Market Size Of The Global Military Exoskeleton Market And Its Growth Rate?
The global military exoskeleton market has shown a steady growth in recent years and is expected to:
- Grow from $1.09 billion in 2024 to $1.25 billion in 2025 at a compound annual growth rate (CAGR) of 14.3%.
- Market growth is attributed to initial military applications, strategic shifts in warfare, military rehabilitation initiatives, advancements in materials and engineering, and a rise in defense spending.
- The expected market size by 2029 is $2.02 billion at a CAGR of 12.8%.
- Key growth factors for the forecast period include expanded military applications, advancements in materials and design, customization and adaptability, growing demand for medical rehabilitation, and global military modernization programs.
What Is Driving The Growth In The Military Exoskeleton Market?
The growth in the Military Exoskeleton Market is being driven by the rising number of terrorist activities and cross-border disputes. The use of military exoskeletons enhances the physical abilities of soldiers, including strength, agility, and endurance, ultimately improving their readiness to respond to terrorist attacks. According to The Institute for Economics and Peace, an Australia-based international think tank, terrorist attacks became more deadly in 2023, with 2.5 deaths per attack compared to 1.6 in 2022. Hence, the escalating rate of terrorist activities and border disputes is driving the growth of the military exoskeleton market.
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Who Are the Key Players Driving Military Exoskeleton Market Growth?
Major players in the global military exoskeleton market include:
- 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.
- SpringActive Inc.
- Safran SA
- General Dynamics Corporation
- CYBERDYNE INC.
- Bionic Power Inc.
- B-Temia
- Boeing
- Honeywell Aerospace
- QinetiQ Group plc
- Hunter Defense Technologies Inc
- Fifth Dimension Technologies
- Endeavor Robotics
- EXHAUSS Exoskeletons
What Are The Key Trends In The Military Exoskeleton Market?
Major trends in the military exoskeleton market include:
- Enhanced soldier performance
- Medical rehabilitation and support
- Increase in R&D investments
- Miniaturization and portability
- Integration of AI and sensors
- Specialized applications
What Are The Segments Of The Global Military Exoskeleton Market?
The military exoskeleton market is segmented by:
- Type: Full-body Exoskeleton, Partial-body Exoskeleton
- Power: Active Exoskeleton, Passive Exoskeleton
- Operation: Battery-powered, Cable-powered
- Application: Physical Augmentation, Human-machine Interface, Human-computer Interface
Which Region leads the Military Exoskeleton Market?
Europe was the largest region in the military exoskeleton market in 2024. North America is expected to be the fastest-growing region during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Military Exoskeleton Market Report?
- Market Size Analysis: Analyze the Military Exoskeleton Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Military Exoskeleton Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall Military Exoskeleton Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Military Exoskeleton Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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