Military Wearables Market Expected to Reach $10.07 Billion by 2030
A recent report by 360iResearch has projected that the global military wearables market will reach a value of $10.07 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.71%. This growth is attributed to advancements in technology and increasing adoption of wearables in the military sector.
The report categorizes the military wearables market based on technology, wearable type, and end-user. In terms of technology, the market is segmented into communication & computing, connectivity, exoskeleton, monitoring, navigation, power & energy management, smart textiles, and vision & surveillance. Wearable types include bodywear, eyewear, and headwear.
The military wearables market is expected to witness significant growth in the communication & computing segment, particularly in embedded antennas, tactical headsets, tactical multiband radios, and wearable computers. The connectivity segment is also projected to grow, driven by the demand for compact connectors, wearable personal area networks, and wires & cables.
The report also highlights key players in the market, including Aselsan A.S., BAE Systems PLC, Elbit Systems Ltd., General Electric Company, Hocoma AG, Lockheed Martin Corporation, Northrop Grumman Corporation, Ottobock SE & Co. KGaA, Raytheon Technologies Corporation, Rostec, Safran S.A., Singapore Technologies Engineering Ltd, TE Connectivity Ltd., Teledyne FLIR LLC, and The Boeing Company.
To assess the market, the report utilizes the FPNV Positioning Matrix, which evaluates vendors based on business strategy and product satisfaction. This analysis categorizes vendors into four quadrants: forefront, pathfinder, niche, or vital. Additionally, the market share analysis provides insights into vendor performance and competition for market share.
The military wearables market presents significant opportunities for growth and innovation in the defense sector. As technology continues to advance, wearables are becoming an integral part of military operations, offering enhanced communication, monitoring, and navigation capabilities. With the projected growth in the market, it is clear that military wearables will play a crucial role in shaping the future of defense strategies.
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