Global Soldier Systems Market Size 2024, Forecast To 2033
6 Mar, 2024
The soldier systems market has exhibited strong growth, rising from $11.45 billion in 2023 to $12.13 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.0%. The growth in the historical period is attributed to military modernization, advancements in medical technology, progress in materials science, concerns related to terrorism and asymmetric warfare, and the impact of global conflicts such as the Gulf Wars. As we look ahead to 2028, the market is expected to witness strong growth, reaching $15.02 billion with a CAGR of 5.5%. This projected growth is linked to factors such as an increasing focus on urban warfare, a rise in asymmetric warfare, the demand for enhanced situational awareness, a shift towards network-centric warfare, and a heightened focus on non-lethal capabilities. Key trends in this forecasted period include the integration of advanced technologies, the miniaturization of equipment, enhanced communication systems, a focus on survivability, and the promotion of modular and customizable solutions.
Global Soldier Systems Market Key Driver
The soldier system market is expected to experience substantial growth due to the increasing number of terrorist strikes globally. Terrorist strikes, characterized by surprise assaults targeting civilians for political or religious objectives, have surged in recent years. Soldier systems, integrating protective apparel, personal electronics, and survival equipment, play a crucial role in enhancing aircrew lethality, mission effectiveness, and protection. According to the Global Terrorism Index (GTI) in 2022, published by The Institute for Economics and Peace (IEP), terrorist attacks increased by 17% in 2021, with a total of 5,226 recorded incidents. This alarming rise in terrorist strikes is driving the demand for soldier systems, positioning the soldier system market for significant growth, with market sizes forecasted for USD 2023, 2024, and 2028.
Get A Free Sample Of The Global Soldier Systems Market ReportGlobal Soldier Systems Market Segments
The soldier systems market covered in this report is segmented –
1) By Type: Protection, Communication, Power And Data Transmission, Surveillance And Target Acquisition, Navigation, Other Systems
2) By Component: Hardware Devices, Software, Display Devices, Imaging Devices, Night Vision Devices, Tracking Devices, Wired And Wireless Communication Devices, Personal Protection Kits, Identification Friend or Foe (IFF), Other Components
3) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies
4) By End User: Military, Homeland Security
By Geography:The regions covered in the soldier systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the soldier systems market in 2023. The regions covered in the soldier systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Soldier Systems Industry Players
Safran SA, Leonardo S.p.A., Rheinmetall AG, L3Harris Technologies Inc., Lockheed Martin Corporation, Saab AB, Aselsan Elektronik Sanayi ve Ticaret A.S., Elbit Systems Ltd., General Dynamics Corporation, Thales Group, Teledyne Technologies Inc., Inova Design Solutions LLC, The Boeing Company, Northrop Grumman Corporation, Avon Protection plc, Banc 3 Technologies, Inc., Inmarsat Global Limited, Metravib Defense SA, Teldat Group, S.A., Textron Systems Corporation, Raytheon Technologies Corporation, BAE Systems plc, Harris Corporation, Leidos Holdings Inc., KBR Inc., CACI International Inc., QinetiQ Group plc, Cobham plc, Ultra Electronics Holdings plc, Chemring Group plc, Hanwha Corporation, Bharat Electronics Limited, Israel Weapon Industries Ltd., ST Engineering, RUAG AG, Nexter Systems, Oshkosh Corporation, Navistar International Corporation, Kongsberg Gruppen ASA, FN Herstal S.A.
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Soldier Systems Market Overview
The soldier system refers to a battlefield system that maximizes the warfighting capabilities. It combines innovative technology and equipment to improve military personnel's capabilities in warfield.
Soldier Systems Global Market Report 2023 provides data on the global soldier systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soldier systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.