Press release
Military Exoskeleton Market to Record an Exponential CAGR by 2025
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https://www.transparencymarketresearch.com/military-exoskeleton-market.html
Some of the prominent participants in the global market are Raytheon Company, Lockheed Martin Corporation, and General Dynamics Corporation
A report by Transparency Market Research predicts the global military exoskeleton market to register a robust 14.4% CAGR during the period between 2017 and 2025. Rising at this rate, the market will likely attain a value of US$3,042.4 mn by 2025-end from US$924.5 mn in 2016.
Depending upon the type, the global military exoskeleton market can be segmented into full body exoskeleton and partial body exoskeleton. Of the two, the partial body skeleton segment is slated to lead the market with maximum share in the next couple of years. The rising number of applications of these exoskeletons is expected to help the segment rake in a revenue of about US$1,977.0 mn by 2025-end.
Geographically, the key segments of the global military exoskeleton market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, is a leading market whose value stood at US$290.8 mn in 2016. The market in the region is being mainly driven by the U.S. and Canada – two nations that have been pouring in money for developing lightweight exoskeletons for the soldiers. The political uncertainty and the deep involvement of the U.S. soldiers in the Middle East is mainly stoking demand for upgraded military wearable and exoskeletons in North America.
Increasing Geopolitical Conflicts Benefitting Market
Majorly fuelling the global military exoskeleton market is the rising threats to security, fragile political situations, and spike in in geo-political conflicts in different parts of the world. The exoskeleton are designed primarily for combat and they are supposed to provide the soldiers extra strength and protection in a battlefield. They also help to carry heavy loads during difficult missions such as counter-insurgency operations or rescue operations. All such unique perceived benefits are boosting their demand.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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