The Military Exoskeleton Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Military Exoskeleton Global Market Report 2024, The military exoskeleton market size has grown rapidly in recent years. It will grow from $0.97 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to initial military applications, strategic shifts in warfare, military rehabilitation initiatives, advancements in materials and engineering, rise in defense spending..
The military exoskeleton market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to expanded military applications, advancements in materials and design, customization and adaptability, growing demand for medical rehabilitation, global military modernization programs.. Major trends in the forecast period include enhanced soldier performance, medical rehabilitation and support, increase in r&d investments, miniaturization and portability, integration of ai and sensors, specialized applications..
The rising number of terrorist activities and cross-border disputes is expected to propel the growth of the military exoskeleton market going forward. Terrorism activity is the intentional use of violent means or threats to achieve political, religious, or ideological objectives by inducing fear or coercion among civilians. Cross-border disputes refer to legal disagreements or conflicts that arise between individuals or organizations from different countries. The use of military exoskeletons enhances the physical abilities of soldiers, including strength, agility, and endurance, thereby improving their readiness to respond to terrorist attacks. For instance, in 2022, according to the Global Terrorism Index (GTI), which is published by The Institute for Economics and Peace (IEP), an Australia-based global think tank, terrorist attacks increased by 17% in 2021, with a total of 5,226 recorded attacks. Therefore, the rising number of terrorist activities and cross-border disputes is driving the growth of the military exoskeleton market going forward.
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The military exoskeleton market covered in this report is segmented –
1) By Type: Full-body Exoskeleton, Partial-body Exoskeleton
2) By Power: Active Exoskeleton, Passive Exoskeleton
3) By Operation: Battery-powered, Cable-powered
4) By Application: Physical Augmentation, Human-machine Interface, Human-computer Interface
Developing lightweight exoskeletons are a key trend gaining popularity in the military exoskeleton market. Companies operating in the military exoskeleton market are launching new versions of lightweight exoskeletons to sustain their position in the market. For instance, in April 2023, Comau Robotics, an Italy-based company that provides specializes in automation, launched Mate-XT, a wearable exoskeleton for industrial, non-industrial, and open-air environments. The design of the exoskeleton features a thin, light carbon fiber structure with an easy-to-use control system. It is resistant to water, dust, UV light, and temperature, and can be quickly customized to fit almost anybody's frame.
The military exoskeleton market report table of contents includes:
Executive Summary
Military Exoskeleton Market Characteristics
Military Exoskeleton Market Trends And Strategies
Military Exoskeleton Market - Macro Economic Scenario
Global Military Exoskeleton Market Size and Growth
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Global Military Exoskeleton Market Competitive Benchmarking
Global Military Exoskeleton Market Competitive Dashboard
Key Mergers And Acquisitions In The Military Exoskeleton Market
Military Exoskeleton Market Future Outlook and Potential Analysis
Appendix
Top 5 Major Key Players Are:
Lockheed Martin Corporation
Sarcos Technology and Robotics Corporation
Aselsan Elektronik Sanayi ve Ticaret AS
Dephy Inc
Rostec State Corporation
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Global Military Exoskeleton Market Information Report by Type (Full Body Exoskeleton, Partial Body Exoskeleton), by Power (Active Exoskeleton, Passive Exoskeleton) and by Regions - Global Forecast To 2023Market ScenarioModern-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.
With the changing nature of warfare, most of the countries, across the globe, have developed or are developing military suits or body armor for their armed forces.
As a result, the global military Exoskeleton market is expected to grow at a CAGR of 25.87%.Get Report Sample : https://www.marketresearchfuture.com/sample_request/4134 With the increasing popularity of military exoskeletons due to their technological advantages, the defence operations and exercises, around the globe, have advanced to a level where the deployment of such systems becomes equivalent to a new revolution in high-technology warfare.
Although these systems showcase enhanced soldier capabilities, they lack the defensive tactics against heavy firepower such as cruise missiles, ballistic missiles, and nuclear missiles.
Americas accounted for the largest market share of 49.85% in 2015, with a market value of USD 25.8 million and is projected to grow at the highest CAGR of 28.30% during the forecast period.
These phenomenal technological armor suits provide the soldiers with increased power, safety, and capabilities, which have helped them to carry out the military operations conveniently, in vulnerable regions such as Cyprus, Iraq, Libya, Nigeria, Somalia, Syria, and Afghanistan.
