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Soldier Modernization Market Valued At US$9.0 Billion in 2017 & Forecasts to Reach US$13.3 Billion By 2027
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Global Soldier Modernization market is expected to value US$9.0 Billion in 2017, and will grow at a CAGR of 4.00%, to value US$13.3 Billion by 2027. The cumulative market for global expenditure on soldier modernization will reach US$118.0 Billion over the forecast period.
Scope
• The global soldier modernization market, valued at US$9.0 billion in 2017, is projected to grow at a CAGR of 4.00% over the forecast period, to reach US$13.3 billion by 2027 and cumulatively value US$118.0 billion.
• The market consists of five categories: C4ISR, survivability, sustainability, mobility and lethality.
• The market is expected to be dominated by C4ISR segment, which will account for 38% of the market, followed by Lethality and Survivability with shares of 28% and 26% respectively.
• North America is forecasted to dominate the sector with a share of 38%, followed by Asia Pacific and Europe, with shares of 28% and 23% respectively.
Reasons to buy
• Determine prospective investment areas based on a detailed trend analysis of the global soldier modernization market over the next ten years
• Gain in-depth understanding about the underlying factors driving demand for different soldier modernization segments in the top spending countries across the world and identify the opportunities offered by each of them
• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
• Identify the major channels that are driving the global soldier modernization market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global soldier modernization market
• Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top soldier modernization solution providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available"
The global soldier modernization market is expected to be dominated by North America. Despite the defense budget sequestration, the region is expected to record a CAGR of 3.67% between 2017 and 2027. Overall, North America is projected to spend US$45.4 Billion on soldier modernization over the forecast period. In 2017, regional expenditure is expected to value US$3.7 Billion and increase to US$5.4 Billion by 2027.
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By establishing partnerships for R&D with global soldier modernization system manufacturers, a significant number of countries are investing in the development of their domestic soldier modernization system development capabilities. These ventures are expected to help countries whose domestic defense industry is not so developed, by allowing technology transfers. In addition, partnerships between defense firms have also increased. One such joint venture (JVs) is the collaboration between two major communication devices experts, Harris Corporation and ITT Corporation, to accelerate the fielding of the Soldier Radio Waveform, part of the US DoD's networked digital battlefield.
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