Mar 25, 2022   SOURCE: BusinessWire

The Worldwide Military Exoskeleton Industry is Projected to Reach $2.1 Billion by 2026 - ResearchAndMarkets.com

The "Military Exoskeleton - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Military Exoskeleton estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 11.7% over the analysis period.

Partial-Body, one of the segments analyzed in the report, is projected to grow at a 12.1% CAGR to reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Full-Body segment is readjusted to a revised 11.1% CAGR for the next 7-year period. This segment currently accounts for a 35.1% share of the global Military Exoskeleton market.

Global Military Exoskeleton Market to Reach $2.1 Billion by 2026

Exoskeleton represents a landmark wearable technology that is slated to benefit from mainstream adoption of wearable devices in the military sector. Exoskeletons are a type of man-machine interface, wherein both the human body and the machine work in tandem to reduce the strain on the user. Militaries around the world are aware of the potential of exoskeletons for soldiers and are actively investing in R&D. Infantry forces may soon go into battle wearing military exoskeletons which will help save energy and give greater strength to the humans wearing them.

Made using latest composite materials and powered by emerging technologies such as sophisticated sensors, artificial intelligence and IoT, exoskeletons allow troops stay active in extreme conditions. Human Universal Load Carrier (HULC), designed by Lockheed Martin and Ekso Bionics; and XOS/XOS2, designed by Raytheon and Sarcos were among the first military exoskeletons for augmentation of the whole body, and were presented for review around 2010. Both the exoskeletons featured multiple actuators to augment the bodies of soldiers but faced the hurdle of a viable power source.

Despite the initial challenges, exoskeleton development for military applications continues unabated, owing to the huge benefits an exoskeleton can provide to a combat soldier, who carry huge loads, which causes fatigue. In addition, military sourcing organizations such as DARPA continue to actively fund the development of exoskeletons for military applications, as the benefits could be substantial.

Select Competitors (Total 16 Featured) -

  • Bionic Power Inc.
  • Dephy Inc.
  • Ekso Bionics Holdings Inc.
  • Lockheed Martin Corporation
  • Raytheon Company
  • Revision Military LTD
  • Rostec
  • Safran S.A.
  • Sarcos Corporation
  • SpringActive
  • SRI International

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Military Exoskeleton - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 16 Players Worldwide in 2022 (E)
  • The COVID-19 Pandemic Comes Down Hard On Defense & Military Spending
  • Year 2020 to Go Down Into History as the Year of Disruption
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Rising Fiscal Deficits Puts Defense Spending On the Chopping Block

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Military Wearable Technology Hits Mainstream Opening New Avenues for Growth for Exoskeleton
  • The Evolving World of Wearables
  • Military Wearable Technology Hits Mainstream Opening New Avenues for Growth for Exoskeleton
  • Here's How Armies Worldwide Are Looking to Better Protect Their Combat Troops
  • The Growing World of Human Augmentation Bodes Well for Exoskeletons Designs for Enhancing Human Performance
  • Technology for Human Augmentation Makes Headway Paving the Way for New Design Concepts in Exoskeletons
  • The Growing Knowledge Base Surrounding Human Augmentation Provides a Nurturing Environment for the Evolution of Exoskeletons: Global Human Augmentation Market (In US$ Million) for Years 2020, 2023 & 2027
  • Focus on Advanced Military Capabilities is Already Bringing Human Augmentation Into the Spotlight
  • Despite the Hype About Electronic Warfare, Military Troops Still Remain the Touch Point for Defense & Battle and Protecting Them Becomes the Highest Prerogative
  • Soldiers Still Remain the Army's Greatest Asset & the Most Important Weapon System Underlining the Need to Protect Them & Ensure Success of Military Missions: Global Active Ready-to-Fight Military Manpower (In 000s) by Country
  • Integration of AI Into Exoskeleton Unfolds New & Powerful Capabilities
  • AI's Growing Prominence in Military Applications Boosts Opportunities for AI-Powered Exoskeletons: Global AI in Military Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2027
  • Intelligent Textiles Play an Important Role in the Development of Exoskeleton
  • New Generation Exoskeletons Need Smart, Intelligent & Functional Materials: Global Smart Textile Market (In US$ Billion) for Years

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/dzejqh