Sep 22, 2022   SOURCE: BusinessWire

The Worldwide Military Wearables Industry is Expected to Reach $3.4 Billion by 2027 - ResearchAndMarkets.com

The "Global Military Wearables Market by End-user (Army, Navy, Air Force), Technology, Wearable Type (Headwear, Eyewear, Wristwear, Hearables, Bodywear) and Region (North America, Europe, Asia-Pacific, Middle East, Rest of the World) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global military wearables market is projected to grow from USD 3.1 billion in 2022 to USD 3.4 billion by 2027, at a CAGR of 1.8% from 2022 to 2027.

The military wearables market is envisioned to grow on account of the soldier modernization programs undertaken by several nations across the globe. These nations are actively integrating cutting-edge technologies like advanced head mounted displays, body diagnostics sensors, advanced personal clothing, improved navigation & communication devices, and other types of military wearables in their standard soldier equipment list to enhance their combat effectiveness.

The land forces segment is projected to dominate market share in the end-user segment during the forecast period

Based on end-user, the land forces segment is projected to dominate market share during the forecast period as most of the current generation wearable technologies are designed to enhance the combat effectiveness of land forces as these personnel are often exposed to hazardous working conditions leading to anxiety, depression, and an increased risk of loss of life due to external danger.

The vision & surveillance segment projected to lead military wearables market during forecast period

Based on technology, the video & surveillance segment is projected to lead the military wearables market during the forecast period. The market is also witnessing huge demand for Augmented Reality (AR) & Virtual Reality (VR) technology-based product. Additionally, advancement in the night vision headwear technologies is also driving the market as these technologies help armed forces carry out critical mission at night or during conditions with low visibility.

Headwear segment is expected to account for the largest share in 2022 Based on wearables type, the headwear segment is projected to lead the military wearables market during the forecast period. This segment has been further segmented into eyewear, body wear, hearables, wristwear. There is huge demand due to the integration of the headwear with advanced technology (Augmented Reality (AR) & Virtual Reality (VR)) is the driven factor for wearables segment.

Asia-Pacific is expected to account for the largest share in 2022

The Military Wearables industry has been studied for North America, Europe, Asia-Pacific, Middle East, and Rest of the World. Asia-Pacific accounted for the largest market share in 2022, and Middle East is projected to witness the highest CAGR during the forecast period. The escalating geopolitical tension in the regions has encouraged investments towards the adoption of modern wearable technologies of the soldiers, which favors the growth potential of the market in focus in the regions.

Market Dynamics

Drivers

  • Developing Lightweight and Rugged Wearable Systems
  • Asymmetric Warfare Encourages Adoption of Military Wearable Technologies

Restraints

  • Conventional Warfare Systems Preferred Over Advanced Systems in Developing Countries
  • Supply Chain Disruptions

Opportunities

  • Developing and Integrating Advanced Technologies to Enhance Current Generation Military Wearable Capabilities
  • Integrating Nanotechnology into Military Wearable Subsystems

Challenges

  • Lack of Strategic Clarity and Technology Readiness
  • Reducing Weight of Military Wearables Without Compromising on Protection and Combat Performance

Companies Mentioned

  • Aselsan A.S.
  • BAE Systems PLC
  • Bionic Power Inc.
  • Elbit Systems Ltd.
  • Epsilor-Electric Fuel Ltd.
  • General Dynamics Corporation
  • Glenair Inc.
  • Interactive Wear AG
  • L3Harris Technologies Inc.
  • Leonardo S.p.A.
  • Lockheed Martin Corporation
  • Milpower Source Inc.
  • Northrop Grumman Corporation
  • Rheinmetall AG
  • Saab AB
  • Safariland L.L.C.
  • Safran SA
  • ST Engineering
  • TE Connectivity Ltd.
  • Teledyne Flir LLC
  • Thales Group
  • TT Electronics PLC
  • Ultra-Electronics
  • Viasat Inc.

For more information about this report visit https://www.researchandmarkets.com/r/dk5qtk