Soldier System Market by Sub-System (Helmets, Vests, Devices, Exoskeleton, Advanced Personal Clothing), application (Military, Homeland), Material (Steel, Aramid, Composite Ceramic, UHMWPE, and Others) & Region - Global Forecast to 2021
Seattle, United States - December 8, 2016 /MarketersMedia/ —
The report "Soldier System Market by Sub-System (Helmets, Vests, Devices, Exoskeleton, Advanced Personal Clothing), application (Military, Homeland), Material (Steel, Aramid, Composite Ceramic, UHMWPE, and Others) & Region - Global Forecast to 2021", The soldier systems market is projected to grow from USD 5.57 Billion in 2016 to USD 7.31 Billion by 2021, at a CAGR of 5.60% from 2016 to 2021. Factors, such as increasing incidences of armed conflicts, war, and terrorism are expected to drive the demand for soldier system, globally.
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Helmet is expected to be the largest segment of the account of the soldier systems market, based on subsystem
On the basis of subsystem, helmet is expected to be the largest segment of the market in 2021. Helmets are widely used by military forces in new applications, such as night vision, target acquisition, tracking, and surveillance. Defense companies have developed advanced combat helmet, which enhances situational awareness of soldiers and improve their communication with commander and other group members.
Communication segment expected to witness highest growth during the forecast period
The soldier systems market has been segmented on the basis of subsystem into helmet, vest, devices, exoskeleton, and advances personal clothing. On the basis of devices, the communication segment is projected to witness highest growth during the forecast period, primarily driven by rising number of army modernization programs, increasing procurement of military equipment, and rise in defense budgets globally.
Europe and Asia-Pacific are expected to be the most lucrative markets for soldier system
The soldier systems market in Europe and Asia-Pacific is expected to witness significant growth in the coming years, owing to increasing research and development activities undertaken by research organizations of various countries in the region to develop soldier system for enhanced border security and tactical operations. There has been an increase in military expenditure and initiation of military modernization programs in major economies in the region, primarily owing to rising threat of cross-border terrorism.
Major players in the soldier systems market include Rheinmetall AG (Germany), Elbit Systems Ltd. (Israel), General Dynamics Corporation (U.S.), BAE Systems and Rockwell Collins, Inc. (U.S.).
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