Military Exoskeleton Market Industry Development Scenario and Forecast to 2025
Military exoskeleton is robotic-like suit which provides powered assist and increase the strength of the soldiers during combat. There are several factors driving the demand for these exoskeletons globally. The increasing concern for security and safety from growing criminal activities and cross border terrorism has resulted into the need for soldier safety during warfare. A military exoskeleton suite empowers the soldier to lift heavy weights, run at faster speeds and defend themselves from enemy attacks. Moreover, the changing concept of warfare has led to the development of biological weapons which are more harmful to the body.
[USPRwire, Fri Apr 12 2019] The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as “Military Exoskeleton Market Industry Development Scenario and Forecast to 2025”. The fact based research report on global Military Exoskeleton Market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analysed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis on how the metal caps and closures market is expected to develop in the future.
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Military exoskeleton is robotic-like suit which provides powered assist and increase the strength of the soldiers during combat. There are several factors driving the demand for these exoskeletons globally. The increasing concern for security and safety from growing criminal activities and cross border terrorism has resulted into the need for soldier safety during warfare. A military exoskeleton suite empowers the soldier to lift heavy weights, run at faster speeds and defend themselves from enemy attacks. Moreover, the changing concept of warfare has led to the development of biological weapons which are more harmful to the body. These can also prevent direct contact of the soldier from harmful gases. These factors are aiding to the demand for exoskeleton suits globally. Furthermore, the need for quick coordination during warfare has led to the need for advanced communication systems which cannot be tracked by the enemy. Hence, the soldier suits need to be integrated with these electronics which include range finders, optronics, radios and navigation systems to name a few.
However, the integration of these electronics increases the overall weight of the suits and makes it difficult for the soldiers to move swiftly. The development of lightweight exoskeletons will reduce the weight considerable and give added advantages to the soldiers by enhancing their mobility. These factors are expected to drive the demand for military exoskeletons considerably during the forecast period. However, a primary reason restraining the growth of the market is the price involved in procuring the exoskeletons. One exoskeleton suit can cost up to USD 150,000. Furthermore, the defense agencies need to place order in large quantities which can further increase the cost of procurement.
The global military exoskeleton market has been segmented by types, power and geography. By types, the market has been segregated into full body exoskeleton and partial body exoskeleton systems. The partial body exoskeletons are expected to dominate the military exoskeleton market globally. Furthermore, the market has been bifurcated by power into active exoskeletons and passive exoskeletons. Currently, the active exoskeleton systems are witnessing higher demand in the market due to need for providing the soldiers increased strength and stamina in the battlefield. By geography, the global market has been segmented into five important regions consisting of North America, Europe, Asia Pacific, Middle East & Africa (MEA) and Latin America. North America and Europe has been analyzed to lead the global military exoskeleton market during the forecast period.
The global report of military exoskeleton systems also includes the key trends expected to affect the demand and supply of the exoskeletons in future. Moreover, the market attractiveness of the various types of exoskeletons have been included in order understand the future opportunities of these segments. The global market of military exoskeletons has been tracked in terms of revenue from 2017 to 2025 where in 2016 has been considered as the base year of the study.
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The global market of military exoskeleton is witnessing intense competition from the leading players operating in the market. These players also undergo mergers and acquisition in order to sustain in the competitive environment. Furthermore, some of the players also follow a strategy of working in collaboration with others in order to create innovative products. The report also includes a detailed company profile of the major players which includes the company overview, product segments, and financial performance over the last three years, SWOT analysis and the business strategies adopted by them. The key players profiled in this report include Lockheed Martin Corporation (U.S.), BAE Systems (U.K.), Raytheon Company (U.S.), General Dynamics Corporation (U.S.), Boeing (U.S.), Honeywell Aerospace (U.S.), Ekso Bionics Holdings (U.S.), Bionic Power (Canada), Safran S.A. (France) and SpringActive, Inc. (U.S.).
The Global Military Exoskeleton market can be segmented as follows;-
Global Military Exoskeleton Market, By Types
- Full Body Exoskeleton
- Partial Body Exoskeleton
Global Military Exoskeleton Market, By Power
- Active Exoskeleton
- Passive Exoskeleton
Global Military Exoskeleton Market, By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Latin America
- Rest of Latin America
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