Market Research Future (MRFR), in its new report on the global soldier systems market, suggests that that the market is expected to register a CAGR of about 7% across the forecast years of 2018 to 2023.
Some of the notable key players that are functioning in the global soldier systems market that are profiled by MRFR are; BAE Systems plc (UK), Aselsan AS (Turkey), General Dynamics Corporation (US), Elbit Systems Ltd. (Israel), Leonardo S.p.A (Italy), Thales SA (France), Harris Corporation (US), Saab AB (Sweden), Rheinmetall AG (Germany), and United Technologies Corporation (US)
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Soldier systems enhance operational capabilities at the time of combat. These systems take into account items, ranging from small wearables, such as scopes, to large portable devices objects, such as radars and jammers. Hence, defense organizations, across the world, are massively deploying soldier systems. Their rising demand is expected to promote the market growth. Along with the defense sector, soldier systems also find their application in law enforcement agencies. However, the purpose of these systems utility varies for different end-users.
Additional factors, such as rise in focus to enhance situational awareness of soldiers when on battlefield and increase in incidences of asymmetric warfare are expected to boost the global soldier systems market growth. The market explosion can be attributed to the hike in the defense budget by governments of emerging economies and their investments in procuring soldier systems. On the contrary, the market encounter certain resistance. Delays in procurement processes are noted to be the major constraint on the market expansion. However, increase in terrorist attacks and rise in need for soldier modernization is likely to push the market growth.
The soldier systems market has been segmented by type and end-user.
By type, the soldier systems market is segmented into communication systems, protection systems, vision systems, surveillance & target acquisition systems, power & data transmission systems, navigation & health monitoring systems, and other systems. The communication systems segment is estimated to secure the largest market share. The ability of surveillance systems to enhance situational awareness of army personnel, enables in gaining a tactical advantage in the battlefield. The surveillance & target acquisition systems segment is expected to thrive at the highest CAGR during the forecast years.
By end-user, thesoldier systemsmarket is segmented into public security and national defense. The national defense segment is accounted for the major market share of the global market. Currently, the public safety sector is noted to deploy soldier systems to ensure safety of people. Hence, the public security segment is anticipated to boost the market growth in the forecast period.
By region, the soldier systems market has also been studied for four regions. They are; North America, Europe, Asia-Pacific, and Rest of the World.
The soldier system market in North America to lead globally, across the review period. The largest share of the global market is expected to lie with the North America market. The U.S. Department of Defense reported that currently, the need for developing tactical equipment is surging. Hence, the US market is expected to register a high CAGR and gain considerable traction for the regional market. In addition, surge in military exercises and operations in the Middle East countries is likely to impact the US military sector. The US is focusing more on the development of modern soldier systems, such as advanced combat gear, which can further expand the scope for the market to grow.
Table of Content:
- Executive Summary
- Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
- Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
Continued. . .
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List of Tables:
Table 1 Global Soldier Systems Market, By Region, 2018–2023
Table 2 North America: Soldier Systems Market, By Country, 2018–2023
Table 3 Europe: Soldier Systems Market, By Country, 2018–2023
Table 4 Asia-Pacific: Soldier Systems Market, By Country, 2018–2023
Table 5 Rest Of The World: Soldier Systems Market, By Region, 2018–2023
Table 6 Global Soldier Systems Type Market, By Region, 2018–2023
Continued. . .
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