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Military Wristwear Market by Technology (Communication & Computing, Navigation, and Monitoring), End-User (Land Forces, Airborne Forces, and Naval Forces) and Type (Fitbit, Smart Watches, and Patches): Global Opportunity Analysis and Industry Forecast 2020–2027

A08540
Pages: NA
Jun 2021 | 450 Views
 
Author(s) : NA
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Charts: NA
 

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Military Wristwear Market Outlook - 2027

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 wristwear, headwear, eyewear, and bodywear. Military wearables help in monitoring the physical state of soldiers during missions, enhance communication between troops & military stations, and in providing 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, which are paving way for the development of highly efficient military wristwear such as wrist computers, Fitbit, and others.

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, Type and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and the 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, Thales Group, General Dynamics Corporation, Elbit Systems Ltd., ASELSAN A.?., L3Harris Technologies Inc, Safran, and Rheinmetall AG


COVID-19 Scenario analysis:

  • Due to COVID-19 situation, the production rate of military wristwear industries across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.
  • Training exercises such as Pitch Black 2020 and Milan 2020 have been cancelled due to the COVID-19 situation, which may impact procurement of military wristwear.
  • There will be a considerable rise in demand for military wristwear 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 wristwear 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 wristwear market. However, procurement of conventional warfare systems rather than advanced military wearables by emerging economies are hampering the market growth. Contrarily, advancement in military wearables technologies are opportunistic for the future growth of the military wristwear 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, and Yemen. Military wristwear equipment help tracing the soldiers’ moment and provide real-time situational awareness to military office, which improves the troops coordination with the team. Moreover, such military wearables also improve the training of soldiers. Hence, increase in need for soldier coordination & training is generating demand for military wristwear such as wrist computer; thereby, driving the growth of the military wristwear market.

Advancement in wearable technology 

Several military wearables have become compact, lightweight, and improve efficiency. Further, the technological advancement of military wearables has contributed in increase in sale. For instance, Harris corporation has signed a contract of worth 130 million USD with the USA air force for the development & delivery of hand-held video data link radios in May 2018. Hence, the military wearables market is expected to grow further with the advancements in technology in future, which will also create demand in the global military wristwear market.

Key segments covered:

Segments

Sub-segments

  Technology

    • Connectivity
  • Wearable Personal Area Network
  • Compact Connectors
  • Wires and Cables
  • Navigation
  • Dismounted PNT (Positioning, Navigation, and Timing)
  • Personal Recovery Devices (PRD)
  • Dismounted IFF
    • Monitoring
  • Body Diagnostic Sensors
  • Wearables Patches
  • Smart Bands and Activity Trackers

 

  End-User

 

  • Land Forces
  • Airborne Forces
  • Naval Forces

  Type

 

  • Fitbit
  • Smart Watches
  • Patches

 

Key benefits of the report:

  • This study presents the analytical depiction of the global military wristwear 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 wristwear market share.
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global military wristwear market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global military wristwear market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the military wristwear market research report:

  • Which are the leading market players active in the global military wristwear 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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