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Military Wearables Market by Technology (Communication & Computing, Connectivity, Navigation, Vision & Surveillance, Exoskeleton, Monitoring, Power & Energy Management and Smart Textiles), End User (Land Forces, Airborne Forces and Naval Forces), and Wearable Type (Headwear, Eyewear, Wristwear, Bodywear and Hearables): Global Opportunity Analysis and Industry Forecast, 2020–2027
| A07501 | Pages: NA | Feb 2021 | 536 Views | | |
| Author(s) : NA | Tables: NA | Charts: NA | Formats*: | |
COVID-19
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The military wearables are the equipment used by soldiers during the missions or military exercises. The technology reduces troop causalities across the globe. There are several types of military wearables such as headwear, eyewear, bodywear, and others. Military wearables help in monitoring the physical state of soldiers during missions, enhance communication between troops & military stations, and provide complete situational awareness. The other benefits of military wearables include their withstanding capability in sustaining harsh environmental conditions such as high temperatures, inside water, and others. The governments of several countries are investing for highly efficient military wearables. For instance, in November 2018, Lockheed Martin signed a contract worth 7 million USD with the U.S. army for the enhancement of exoskeleton.Â
Market scope and structure analysis:
      Report Metric |                          Details |
 Market size available for years | 2020–2027 |
 Base year considered | 2019 |
 Forecast period | 2021–2027 |
 Forecast units | Value (USD) |
 Segments covered | Technology, End User, Wearable Type, and Region |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
 Companies covered | Lockheed Martin Corporation, BAE Systems, Saab AB, General Dynamics Corporation, Elbit Systems Ltd., ASELSAN A.?., L3Harris Technologies Inc, Rheinmetall AG, Safran, and Rheinmetall AG |
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Covid-19 Scenario analysis:
- The production rate of military wearables industries across the globe has been hampered because of the declared lockdowns and government restrictions on public gatherings.
- Training exercises such as Pitch Black 2020, Milan 2020, and others have been cancelled due to the COVID-19 situation, which may impact procurement of military wearables.
- There will be a considerable rise in demand for military wearables post covid-19 as the combat exercises will start resuming.
- As governments spending shift toward economic recovery due to covid-19 pandemic, industries may experience reduction in quantity of order for military wearables equipment.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in need for soldier coordination & training, rise in asymmetric warfare, alleged geopolitical conflicts, and soldier modernization programs are the factors that drive the growth of the military wearables market. However, procurement of conventional warfare systems rather than advanced military wearables by emerging economies is expected to hamper the market growth. On the contrary, technological advancements such as exoskeleton, smart textiles, power & energy management, and communication & computing is opportunistic for the future growth of the military wearables market.
Increase in need for soldier coordination & training
Soldiers security becomes topmost concern for defense agencies especially in current ongoing war like situations in Syria, Iraq, Yemen, and others. Military wearables track the soldiers’ moment and provide real-time situational awareness to military office, which improves the troops coordination with the team. Moreover, military wearables improve the training of soldiers. Hence, increase in need for soldier coordination & training military wearables demand will continue to grow.
Advancement in wearable technologyÂ
Several military wearables have become compact, lightweight, and improved in efficiency. The technological advancement of military wearables has contributed in increase in sale. For instance, BAE Systems secured a contract worth USD 97 million from the U.S. Army for the supply of new night vision goggles and thermal weapon sights. Therefore, military wearables market is expected to grow further with the advancements in technology in future.
Key segments covered:
        Segments |                   Sub-segments |
 Technology |
  |
 End User | Â
|
 Wearable Type |
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Key benefits of the report:
- This study presents the analytical depiction of the global military wearables industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global military wearables market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global military wearables market growth scenario.
- Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.Â
- The report provides a detailed military wearables market analysis based on competitive intensity and how the competition will take shape in coming years.Â
Questions answered in the global military wearables market research report:
- Which are the leading market players active in the military wearables market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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