The modern warfare is evolving with the constant implementation of technologies developed by the research and development departments of various companies. One such recent development is the smart textiles for militaries. These types of jackets are expected to back the integration of modern technologies, along with providing extra protection and temperature control technologies. Some even provide charging options to get devices charged and ready for the occasion.
The global smart textiles for military market is expected to reach a valuation of USD 1700 million by 2023 with a 17.56% CAGR during the forecast period (2018-2023).
Market Research Future (MRFR), in their recent report on the smart textiles for military market, claimed that rising defense expenditure, especially for research and development is expected to provide thrust to the market growth. Integration of smart textiles to increase functional capacity is also expected to create scope for the smart textiles for military market expansion. Also, the demand to have lightweight textiles and integration of high-performance miniaturized electronic systems in jackets are expected to drive the market ahead.
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Several companies are making a huge impact in the global smart textiles for military market. This is because they have realized that the market has immense potential and is expected to gain attention of defense budgets of various countries. MRFR profiled a few to understand the flow of the market.
These companies are Koninklijke Ten Cate BV, BAE Systems, Directa Plus SpA, Advanced Fabric Technology LLC, Ohmatex, WL Gore & Associated Inc, BeBop Sensors, Outlast Technologies LLC, DuPont, and Mide Technology Corporation. Their tactical moves promise prospect not just individual but for the global market success as well.
The report, published by MRFR, on the global military smart textiles market, made significant breakthrough in the understanding by segmenting it based on type, and application. This attempt has its focus on getting to the core of the market to have a better forecasting.
Based on the type, the smart textiles for the military market includes passive smart textiles, active smart textiles, and ultra-smart textiles. Value-wise, the passive smart textiles segment held dominance over 43.30% market share in 2017 and is expected to grow by 17.47% CAGR between 2018 and 2023. Passive smart textiles are anti-odor, anti-microbial, anti-static, and bulletproof. In addition, they provide a feature like temperature control.
Based on the application, the smart textiles for the military market comprises health monitoring, energy harvest and protection and mobility. The energy harvest segment has 54% share of the global market in 2017. Its valuation is expected to cross USD 965.1 Mn with a CAGR of 17.77% during the forecast period. Energy harvesting draws power from external sources such as solar power, thermal energy, kinetic energy, and wind energy. It can sufficiently back the energy needed for small devices that come with military devices.
The region-specific detailing of the global smart textiles for the military market in the MRFR report includes Americas, the Middles East & Africa (MEA), Europe and Asia Pacific (APAC). This is both backed by volume-wise and value-wise data, which helps in easy understanding of the growth pockets.
Currently, the Americas has the maximum market share and its market valuation was USD 230 Mn in 2017. The segment is expected to receive a CAGR of 17.55% during the forecast period. The US is a country in the region that is spending substantial defense amount to have such a technology included in their arsenal to help in reducing the fatal counts. The region is also benefitting from the presence of a number of market players who are influencing the market.
The APAC market has the current valuation of USD 190 Mn., which in the coming years, is going to increase by leaps and bounds as countries like India and China have started spending to upgrade their defense budget. Europe is also a huge market that can benefit from the presence of countries like France and the UK.
MRFR employs a systematic research mechanism to make in-depth observations on industries, markets and sub-markets. It involves, undertaking of both primary and secondary research procedures. In primary research, inputs are drawn from industry experts, opinion holders and c-level executives. This process is undertaken though e-mails conversation, face-to-face interactions and telephonic interviews. In secondary research, a wide spectrum of research materials is referred namely annual reports SEC filings, whitepapers, paid database services, etc. The information gathered is confirmed using a multi-level evaluation process. To arrive at concreate conclusions both top-down and bottom-up approaches are utilized. Data triangulation ensures high accuracy of market facts and proximity to actual market scenario.
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List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Major Granted Patents on Smart Textiles (1st December 2014 – 14th December 2018)
Table 4 Global Smart Textiles for the Military Market, by Type, 2017–2023 (Usd Million)
Table 5 Global Smart Textiles for the Military Market, by Application, 2016–2023 (Usd Million)
Table 6 Global Smart Textiles for the Military Market, by Region, 2017–2023 (Usd Million)
Table 7 Americas: Smart Textiles for the Military Market, by Country, 2017–2023 (Usd Million)
Table 8 Americas: Smart Textiles for the Military Market, by Type, 2017–2023 (Usd Million)
Table 9 Americas: Smart Textiles for the Military Market, by Application, 2017–2023 (Usd Million)
Table 10 Us: Smart Textiles for the Military Market, by Type, 2017–2023 (Usd Million)
List of Figures
Figure 1 Global Smart Textiles for the Military Market: Market Structure
Figure 2 Research Process of Mrfr
Figure 3 Top-down & Bottom-up Approaches
Figure 4 Market Dynamics Overview
Figure 5 Advantages of Smart Textiles for the Military
Figure 6 Global Smart Textiles for the Military Market: Drivers Impact Analysis
Figure 7 Global Smart Textiles for the Military Market: Restraints Impact Analysis
Figure 8 Porter’s Five Forces Analysis: Global Smart Textiles for the Military Market
Figure 9 Global Smart Textiles for the Military Market: Supply Chain
Figure 10 Global Smart Textiles for the Military Market Share, by Type, 2017 (% Share)
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