Global Military Wearables Market Size 2024, Forecast To 2033
6 Mar, 2024
The military wearables market size has grown strongly in recent years. It will grow from $3.72 billion in 2023 to $3.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to soldier modernization programs, focus on soldier health and safety, special forces requirements, urban warfare and C4ISR needs, integration with tactical gear. The military wearables market size is expected to see strong growth in the next few years. It will grow to $5.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to advancements in health monitoring, expanded use in training, integration with augmented reality (AR), enhanced communication features, wearable sensor fusion. Major trends in the forecast period include focus on ergonomic design for comfort and mobility, development of personal area network (PAN) solutions, use of advanced materials for durability, application of gesture control and human-machine interface, focus on cybersecurity measures.
Global Military Wearables Market Key Driver
Growing defense expenditures are expected to propel the growth of the military wearables market going forward. In the defense organization, numerous wearable gadgets and equipment can be integrated into a soldier's wearable or uniform, freeing him from having to carry additional payloads. In the years to come, the armed forces may be impacted by wearable technology. For instance, in April 2021, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based non-profit organization that provides data on armament and arms control, global military spending increased by 3.7% in 2022 to a record $2240 billion. Therefore, growing defense expenditures are driving the growth of the military wearables market.
Get A Free Sample Of The Global Military Wearables Market ReportGlobal Military Wearables Market Segments
The military wearables market covered in this report is segmented –
1) By Type: Wrist Wear, Modular, Eyewear, Smart Key Chains, Ear Wear, Other Types
2) By Technology: Communication And Computing, Connectivity, Navigation, Vision And Surveillance, Exoskeleton, Monitoring, Power And Energy Management, Smart Textiles
3) By End-User: Land Forces, Naval Forces, Airborne Forces
By Geography:The regions covered in the military wearables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the military wearables market in 2023. The regions covered in the military wearables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Military Wearables Industry Players
Aselsan A.S., Bionic Power Inc., Lockheed Martin Corporation, BAE Systems plc, Saab AB, General Dynamics Corporation, Elbit Systems Ltd., L3Harris Corporation, Rheinmetall AG, Safran S.A, Thales Group, Northrop Grumman Corporation, Ultra Electronics Holdings, Teledyne Flir LLC, Leonardo S.P.A., Viasat Inc., TE Connectivity Ltd., TT Electronics PLC., Interactive Wear AG, Epsilor-Electric Fuel Ltd., Glenair Inc., Milpower Source Inc., Safariland L.L.C., Singapore Technologies Engineering Ltd., Honeywell International Inc., Raytheon Technologies Corporation, Alpha Design Technologies, Revision Military, SECRE International Inc., Tactical Systems Group
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Military Wearables Market Overview
Military wearables are high-tech devices and equipment developed for use by military personnel that are embedded into their uniforms, gear, or accessories. It is utilized to improve situational awareness, communication, and performance-enhancing features to enhance troops safety.
Military Wearables Global Market Report 2023 provides data on the global military wearables market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military wearables market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.