Global Military Wearable Sensors Market: Rising Military Expenditure in North America and APAC to Drive Military Wearable Sensors industry
Market Research Future (MRFR) announces a new release on the global military wearable sensors market. The report segments the global military wearable sensors market by various criteria to deliver a fine picture of the market’s current conditions and prospects for future growth over the 2017-2023 forecast period. According to the report, the global military wearable sensors market is expected to exhibit a CAGR of 11% over the forecast period.
Military wearable sensors are smart electronic devices worn on the body in the form of clothing or accessories, in order to track specific aspects of the physical fitness of soldiers. The need to keep track of soldiers’ fitness in real time is likely to drive the global military wearable sensors market in the forecast period. These sensors provide a new dimension to keeping track of one’s forces and allow commanders to closely monitor the fitness of each individual soldier. The tracking software and programming for the military wearable sensors is controlled by an external computer that can be conveniently monitored from the military headquarters. This advantage can work in favor of the market.
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Military wearable sensors are also a major help to animal handlers within the military, as they provide a remote mode of keeping track of animals at the convenience of the handler.
On the other hand, the risk of cyber-attacks and data security concerns are the key restraint against the military wearable sensors market. Military data is a highly sensitive topic and the requisite data security standards have to be reached before widespread adoption of military wearable sensors can be achieved. Interoperability issues and a lack of overarching standards are the other key restraint acting against the global military wearable sensors market.
Leading companies in the global military wearable sensors market include:
- Lockheed Martin Corporation
- Safran Group
- Inova Design Solutions
- Rheinmetall AG
- TT Electronics Plc.
The global military wearable sensors market is segmented on the basis of device type, sensor type, application, and region.
By device type, the global military wearable sensors market is segmented into device-based and clothing-based sensors. Of these, device-based sensors are the leading segment due to the greater comfort level provided by them.
By sensor type, the global military wearable sensors market is segmented into accelerometers, inertial sensors, pressure sensors, force sensors, motion sensors, gyroscopes, temperature sensors, microphones, and others. Pressure sensors are likely to be the major revenue generating segment in the global military wearable sensors market over the forecast period.
By application, the global military wearable sensors market is segmented into body wear, wrist wear, neck wear, eye wear, and foot wear. Of these, body wear is likely to dominate the global military wearable sensors market over the forecast period. Body-worn sensors can easily detect and track parameters such as blood pressure and heart rate, making them popular in military applications.
The report looks into the military wearable sensors market in North America, Europe, Asia Pacific, and Rest of the World.
North America is likely to remain the leading regional market for military wearable sensors over the forecast period due to the increasing expenditure in developed countries such as the U.S. and Canada on military modernization. The U.S. has made military modernization a key aim for the near future and aims to keep a small but smart army rather than maintaining a traditional large army. Technological innovation into military technology is also a strong research avenue in the U.S., lending support to the military wearable sensors market in the region.
The APAC market for military wearable sensors is likely to grow at a robust rate over the forecast period due to the growing defense spending in countries of China, India, and Korea. These countries have encouraged technological innovation and are likely to spend increasing amounts on the incorporation of IoT concepts into military tech in the coming years, driving the military wearable sensors market.
Scope of Report
The report for Global Military Wearable Sensors Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders; it helps the reader gain a deeper insight into the market and industry performance. The report gives a clear picture of the current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also contains a broad study of the different market segments and regions.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Tables
Table 1 Military Wearable Sensors Market: By Region, 2018-2023
Table 2 North America Military Wearable Sensors Market: By Country, 2018-2023
Table 3 Europe Military Wearable Sensors Market: By Country, 2018-2023
Table 4 Asia Pacific Military Wearable Sensors Market: By Country, 2018-2023
Table 5 Middle East & Africa Military Wearable Sensors Market: By Country, 2018-2023
Table 6 South America Military Wearable Sensors Market: By Country, 2018-2023
Table 7 Military Wearable Sensors Market, By Product Type, By Regions, 2018-2023
Table 8 North America Military Wearable Sensors Market, By Product Type, By Country, 2018-2023
Table 9 Europe Military Wearable Sensors Market, By Product Type, By Country, 2018-2023
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