Military Wearables Market 2019-2025
発行: Orion Market Research Pvt Ltd
Global Military Wearables
Market Size, Share & Trends Analysis Report by Type (Military Apparel, Communication, and Navigation Instruments, Imaging Instruments, and Other), by End-User (Land Forces, Airborne Forces, and Naval Forces), Forecast 2019-2025.
In the modernization process of military, they are opting lightweight and small equipment. At present, a soldier has to carry various instruments such as advance googles, communication and navigation systems, batteries, and so on, which has increased the overall weight to the soldiers. The major factor rising the growth of the military wearable market is increasing the development of lightweight military wearables to reduce overall carried weight by the soldiers. One of the major restraints to the market is the declining defense budget of major economies. As an instance, as per the government of the US, there will be a decline of 11% in the defense budget in 2020 as compared to 2018.
The global military wearable market is segmented by type and end-user. By type, the market is segmented into military wearables and accessories such as bulletproof armor, helmet, footwear & smart textiles; communication & navigation instruments; imaging instruments; and other. Bulletproof armor, helmet, footwear & smart textile is expected to have a major market share during the forecast period. Communication & Navigation instruments are expected to have a significant growth rate. By end-user, the market is segmented into land forces, airborne forces and Naval forces.
Geographically, the global military wearables market is segmented on the basis of the region that includes North America, Europe, Asia-Pacific and Rest of the World. It is forecasted that North America will have a major share in the market during the forecasted period. Major countries contributing to the market in the region is the US. Europe is also expected to have a considerable share and major economies contributing to the market are the UK, France, Russia, and Italy. The Asia-Pacific region is expected to have the fastest growth rate during the forecast period. It is due to significant growth into the modernization of military of countries including India and China. Rest of the World is also expected to show a considerable market. Countries such as Saudi Arabia, Brazil, Turkey are contributing to the market.
The major players that contribute to the growth of the global military wearables market include: BAE Systems PLC, Microsoft Corp., Rockwell Collins Inc., Saab AB, Lockheed Martin Corp., Elbit Systems Ltd., Honeywell International Inc., L3Harris Technologies, Inc., and Thales S.A. These players are a major market player and contributing to market growth. These companies are adopting various strategies such as new product launch, collaborations with the government, better services, facilities of transfer of technology, and various others to stay competitive in the market. As an instance, in March 2018, Honeywell International Inc. had entered into an agreement with Safariland Group through which the group will use Spectra Shield in ballistic handheld shields. The new shields are lighter up to 20% as compared to older products.
The market study of the global military wearables market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for the defense equipment manufacturers, suppliers, government, military institutes, for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.