Military Exoskeleton Market is expected to grow at a CAGR of 10% | Military Exoskeleton Market 2017 Global Analysis, Opportunities and Forecast to 2023

Market highlights:

Modern-day soldiers are equipped with radios, night vision devices, global positioning system (GPS) equipment, and computers in their uniforms that provide them with real-time data, which assist the troops with satellite imagery of the battlefield and significantly enhance their situational awareness. As a result, there is a growing demand for integrated smart weapons and lightweight body armors. Military Exoskeletons are lighter than the conventional load carriage or armor systems, and they enable added protection and counter attack against hostile enemy advances. Therefore, there have been significant developments of light weight body suits, which would boost the efficiency of the armed troops in the battlefield. With a higher number of lethal and protective Exoskeletons being developed, the market is expected to witness tremendous growth during the forecast period.

The growing number of volatile political unrests, security threats, and ongoing disputes in certain regions of the globe has increased the demand for military exoskeleton systems in the recent years. These systems offer additional combat capabilities along with extra strength and protection to the soldiers in a battlefield. They also enable the carriage of heavy loads during tough military missions/operations (such as during search and rescue or counter-insurgency operations). The rising concerns about soldier safety and injuries have increased the demand for these advanced military body suits. As a result, the global military Exoskeleton market is expected to grow at a CAGR of 25.87%

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Major Key Players

BAE Systems,
General Atomics,
Lockheed Martin,
Raytheon,
Safran,
Bionic Power,
Ekso Bionics,
20 Knots Plus,
Revision Military,
SpringActive,
SRI International.

Regional Analysis
By 2023, North America is expected to be the dominant region in the military Exoskeleton market primarily due to the presence of major manufacturers in this region. In addition, increasing military expenses by the US Department of Defense (DOD) on these body suits have resulted in the development of advanced military exoskeleton systems. Europe is expected to acquire the second largest market due to the high expenses on soldier modernization programs by countries such as France, Germany, Italy, Spain, Switzerland, and the UK, which would come in aid of their soldiers, by enhancing their operational and attack capabilities.

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The report for Global Military Exoskeleton Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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