Soldier System Market Outlook
According to a new report by Expert Market Research titled, “Global Soldier System Market Price, Share, Size, Analysis, Report and Forecast 2023-2028″ the soldier system market report reached a value of USD 10.54 billion in 2022. Aided by the increasing demand for advanced military equipment and the growing applications of soldier systems in various military operations, the market is projected to further grow at a CAGR of 4.7% between 2023 and 2028 to reach a value of USD 13.88 billion by 2028.
Soldier systems, comprising advanced equipment, devices, and software solutions, are commonly used to increase operational efficiency and safety of military personnel. These systems play a crucial role in enhancing soldiers’ situational awareness, survival capabilities, and overall combat effectiveness. Apart from their application in individual soldier empowerment, these systems offer excellent communication, reconnaissance, and combat capabilities, making them an invaluable asset in various military applications, including surveillance, target acquisition, and force protection.
The increasing global focus on enhancing military capabilities is driving the global soldier system market growth. With the growing awareness of the importance of equipping soldiers with modern technologies to improve operational efficiency and safeguard them from adversities, there has been a significant shift towards advanced soldier systems, leading to a surge in their demand. Additionally, escalating geopolitical tensions and increasing investments in military modernisation programs have further contributed to the rising popularity of soldier systems.
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The expanding applications of soldier systems in various military operations also play a significant role in propelling the soldier system market development. In surveillance and reconnaissance missions, soldier systems, equipped with thermal imagers, night vision devices, and laser target designators, are used to gain critical information about enemy activities. The communication systems facilitate seamless information sharing among troops, improving coordination and decision-making in the battlefield. In combat situations, advanced soldier systems, including personal armour, smart textiles, and exoskeletons, enhance soldier protection and combat efficiency.
Moreover, the constant advancements in military technology, such as the integration of artificial intelligence and the Internet of Things (IoT) in soldier systems, have led to the development of more sophisticated, precise, and reliable systems, thus boosting the soldier system market expansion. For instance, AI-enabled soldier systems can analyse vast amounts of data to provide actionable insights, improving situational awareness and decision-making. IoT connectivity allows for real-time monitoring of soldier health and equipment condition, enhancing operational safety and effectiveness.
Further, the growing demand for soldier systems in emerging markets, propelled by increasing defence budgets and modernisation efforts, is expected to provide lucrative growth opportunities for the soldier system market.
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Soldier System Market Segmentation
The market can be divided based on type, end user, and region.
Market Breakup by Type
- Personal Protection
- Respiratory Protective Equipment (RPE)
- Surveillance and Target Acquisition
- Navigation and Health Monitoring
- Power and Data Transmission
- Training and Simulation
Market Breakup by End User
- Homeland Security
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global soldier system companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Adani Green Energy Limited
- Acciona SA
- Canadian Solar Inc.
- JA Solar Technology Co., Ltd.
- Sunrun Inc.
- SunPower Corporation
- Kaneka Corporation
- Tata Power Solar Systems Ltd.
- Suntech Power Holdings Co., Ltd.
- JinkoSolar Holding Co., Ltd
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