The rise in adoption of advanced navigation systems, notably GPS devices in the military and defense sector in North America is anticipated to create significant revenues
Wilmington, Delaware, United States, , March 23, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global Soldier System Market was valued at US$ 10.9 Bn in 2022, and is projected to reach US$ 17.0 Bn by 2031. Usage of advanced armor, state-of-the-art communication systems, and data sharing technologies has improved the warfighting capabilities of soldiers. Recent market trends indicate that companies are unveiling soldier systems that reduce the weight soldiers carry on the battlefield.
Adoption of lighter body armor among soldiers offers significant business opportunities to companies in the global Soldier System Market. Utilization of advanced materials for soft and hard body armor has led to the introduction of more effective body armor to protect soldiers from ballistic threats.
Increased focus of developed countries on the army’s readiness and modernization programs has led to acquisition of newer generation combat vehicles and communication devices. Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) solutions attract significant attention from countries who have prioritized initiatives to prepare the army for the future battlefield. Demand for these solutions is likely to augment the Soldier System Market size in the next few years
Request for a Sample PDF Report with Latest Industry Insights:
Key Findings of Study
- Rise in Usage of Body Armor: In terms of type, body armor accounted for major share of the market in 2022. Continuous focus of the world’s militaries to improve body armor has led to incorporation of novel materials in soft and hard armor and provides protection against different threats.
Rise in R&D on body armor in developed nations is likely to accelerate the Soldier System Market development. A case in point is recent initiatives by the U.S. Army Combat Capabilities Development Command (DEVCOM) to develop body armor for women.
- Improvements in Navigation Systems to Drive Utilization of GPS Devices: Usage of navigation systems has increased significantly in the past few decades. Several countries have increased efforts to modernize the GPS technology. GPS modernization programs are vital to development of robust navigation systems. Surge in industry investment in these programs is likely to drive commercialization of advanced GPS devices in the Soldier System Market.
Furthermore, focus of companies on the development of AI systems for use in military is poised to create lucrative opportunities. AI-powered smart surveillance systems provide soldiers real-time intelligence and prepare them for threat monitoring & situational awareness.
- Significant increase in government investments in the defense sector in several developing and developed countries is a key factor expected to drive demand for soldier systems. Governments of developed and emerging economies are committing sizable share of their yearly budget on the defense manufacturing industry, which has positively impacted the Soldier System Market.
- Surge in investments in soldier modernization programs is expected to bolster the acquisition of advanced military warfare systems and navigation systems. The trend is likely to expand the soldier system industry
Buy this Premium Research Report (103 Pages PDF with Insights, Charts, Tables, and Figures):
Regional Growth Dynamics
- North America is a lucrative market for soldier systems and held significant share in 2022.
- The market in the region is likely to be fueled by rise in investments in the defense sector. Governments in the region such as the U.S. commit sizable funds for military modernization plans with focus on enhancing the soldier’s battle readiness. Moreover, the region is home to globally prominent defense equipment manufacturers who supply soldier systems to other countries. For instance, Lockheed Martin offers next-generation soldier systems under the Joint All-Domain Command and Control concept.
- The market in Europe is also highly lucrative. The regional market is anticipated to expand at a CAGR of 4.9% from 2023 to 2031. Europe and NATO members have witnessed the need for modern soldier systems to protect themselves from foreign invasion. In the wake of Russia’s invasion of Ukraine, NATO allies are building advanced warfare capabilities, which is likely to positively influence the global soldier system industry growth.
The Soldier System Market landscape is consolidated, with a few medium and large-scale companies holding majority share. Key players are engaged in strategic partnerships in order to bolster product development and unveil innovative soldier systems. These strategies will enable them to expand their customer base to newer geographies.
Prominent players in the Soldier System Market are
- Aselsan A.Ş.,
- Avon Protection,
- Elbit Systems,
- Thales Group, and Rheinmetall AG
Get Customization on this Report for Specific Research Solutions:
Soldier System Market Segmentation
- Body Armor
- Tactical Terminal Tablets
- Laser Target Acquisition Systems
- Respiratory Protective Equipment
- Night Vision Glasses
- Communication Devices
- Others (Navigation Devices, Training & Simulation)
- Homeland Security
- North America
- Asia Pacific
- South America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
USA – Canada Toll Free: 866-552-3453
- Virtual Network Functions Market Worth USD 170.3 Billion by 2030, at a 23.80% CAGR – MRFR Report - June 6, 2023
- Mobile Gaming Market Worth USD 247.07 Billion by 2030, at a 13.60% CAGR – Market Research Future (MRFR) - June 6, 2023
- Bridal Gowns Market Size & Share to Surpass $73.2 Billion by 2030, Growing at a CAGR of 6.5% | Zion Market Research - June 6, 2023